by mbamission Sun Mar 14, 2010 9:11 am
Let me list your questions to be sure I cover them all:
1. will your family's company's brand name/size have an impact on your future?
No, the prestige of a company matters less than you seem to think. Plus you'll always have your current prestigious firm on your resume. The size may work to your advantage - not only does it give you more opportunities to excel and show leadership, but it also proves that you can work well in very different types of environments.
2. will your family's company's field have an impact on your future?
This is more of an issue. If you're in a financial field and want to stay in a financial field post-MBA, moving to a technical field could look like a diversion. But it doesn't have to. First of all, you'll already have the banking/LOB experience on your resume. Secondly, are there skills/experiences you'll gain in your family's company that will be relevant to your goal of working in finance? They don't have to be financial skills, but research, interpersonal, working in a small company, entrepreneurial, other leadership skills - all these can be transferable depending on what you want to do. Leaving a bank for your family's technical company in order to go back into finance is certainly not a typical finance path, but if you gain the right kinds of skills at the company, it could round out your experiences in a way that staying at the bank won't.
3. what type of community service do your selected schools like?
Any kind of community experience that you're passionate about and engaged in. Schools aren't looking for X number of applicants to volunteer with children and Y number to work in a senior center; they're looking for applicants to show they have an awareness of and engagement with the broader world. Don't do something simply to put in your hours and be able to list it on your resume. That won't enhance your profile or give you any interesting essays or interview responses. Do something you care about and want to be involved in.
4. Rate your chances at each school
NYU seems reasonable; Wharton, Chicago and Columbia are stretches but not extrem ones. Being in an over-represented demographic with a low gpa and no community involvement just makes the schools tough. But if you develop some additional areas through the family company and community, you offset a couple of those weaknesses.
I feel like you want definite answers - and I can't give them. Staying at your current company could be the path to school - or leaving for your family's company could be as well. Or maybe neither will be. It's not the experiences per se, but what you do with them, how they affect you, how you portray them, how they fit with your overall plan. Admissions is an art, not a science, and that can be very frustrating for applicants.
Best of luck,
Jessica Shklar
mbaMission