Tuesday, October 7, 2008

Tough Decisions

Greetings everyone in the MBA Blogosphere. It's been a bit since I've last posted...I've been busy with work, and I took a weekend trip to DC the other weekend. It was a lot of fun, and we had an absolute blast! Three days wasn't enough, as there is so much to do. We loved exploring the National Mall, the Zoo and driving through Georgetown.

On the MBA front, things have drastically changed for me. First, the economy has officially hit me. Well, it really hit my brother and roommate, who has had some trouble in keeping up his end of rent and bills. This has caused me to cover his share of the bills, as well as help him out from time to time. The net effect of this is that my savings has dwindled to almost nothing. This hurts my MBA aspirations greatly, as I can no longer afford to visit schools, send in application fees, or heaven forbid not have enough money to pay for a deposit!

This has forced me to evaluate my options. First, see that list of schools? Forget about it. I can't possibly afford all those applications. I've already called Guizeta and Fuqua to cancel my visits and interviews. This season, I'm applying to one school: UCLA. The main reason is that my essays are essentially done, and my recommenders have already submitted their parts. It would be a great disservice to them and everyone that has helped me so far to not apply. So, ED for UCLA. I may apply to Case Western Reserve University's Weatherhead SOM later in the year, in order to have a backup plan if the markets continue to decimate my current employer.

I know it sounds like I'm giving up, but I have little other choice. I refuse to take on further debt just to have a chance at a top MBA. I'd rather wait until next season, and maybe things will have shaken out. If anything, I've had some practice in the application process, and I've made contacts at my schools of choice. This is a positive I'm focusing on. And hey, UCLA might still come through.

This extra time will provide another benefit: GMAT. For those of you who don't know, I got a 680 the first time I took it (44Q/38V). I could spend the extra time studying, refining the goals essays, and knock the GMAT out of the park. I can also continue to build my alternate transcript with further courses.

So, any words of advice? I know it's a big change, and I might be the only person cutting back on applications because the money simply isn't there, but I think it's a wise decision.

1 comment:

Heart Come Alive said...

I just submitted my application to UCLA. 1 down 4 more (maybe 5 more) to go. I say apply to more than one. I am not sure what your financial situation is, but think long-term. Apply to at least 3. good luck.