Laid off before starting application process

[changg03]

Hi,

My question is regarding how laid off applicants are viewed.

I joined a financial analyst rotational program at a multinational firm after graduation in 2007. After completion of the program in July 2009, I joined a corporate strategy team working on various high-level internal consulting projects. During this period, I realized that I was ready to pursue an MBA and I planned to apply to bschools in fall 2010.

Unfortunately, due to a big firm restructuring, half my team has been laid off and I have been unemployed since late March 2010. Currently, I am actively seeking a new job.

If I do not find a job by the time I apply, or if I find a job that does not seem to fit in with my career progression (e.g. pay cut, different industry, less "glamorous" position, etc.), would this be viewed negatively by admissions committees?

Also, how do you suggest I write about this in my essays? Appreciate any constructive feedback.

[mbamission]

Thank you for your question. While being laid off isn't ideal, it certainly isn't a deal breaker for a business school application. The school's know that the economy is going through a difficult period. You are not alone - there are many applicants in the same boat. The key thing is to "stay busy". While you are job hunting, you can also prepare for your career goals by doing informational interviews, job shadowing, attending conferences, etc. You can also pursue your personal interests by getting involved in your community or restarting an old hobby. The committee wants to know you took advantage of the "free time". I have included a recent blog entry that might be helpful as well.

Good luck with the application process!
Monica Okrah
mbaMission
Mission Admission: Lay Off Your Worries
February 16th, 2010
Mission Admission is a series of MBA admission tips; a new one is posted each Tuesday.

This year, many applicants have expressed profound concern over the impact of being laid off. Will the Admissions Committee view a layoff as a sign of failure?

The key here is that many candidates share this worry"”thousands of MBA candidates worldwide, in fact. For the Admissions Committees to dismiss all such applicants outright is simply not practical. In addition, the MBA Admissions Committees know that the global financial crisis and the subsequent recession are at the root of the problem, not necessarily the individual candidate’s performance. Indeed, layoffs and firings are not the same thing, so MBA Admissions Committees will examine your application with that in mind, seeking your broader story of success.

If you have been caught up in this unfortunate mess, what is important is that you can show that you have made good use of your time since the layoff"”studying, volunteering, seeking work, enhancing your skills, etc. Each candidate will react differently, of course, but you need to have a story to tell (whether you are applying in the late rounds or even for next year) of how you made the most of a difficult situation.