The following is an excerpt from the Top Ten MBA chapter of our insider's guide
If you have extremely high ambitions and intend to start the next world-changing business, then you shouldn’t settle for any business school but the best.
Otherwise, you can gain skills and experience by continuing to work. After an additional year acquiring new success stories, your application will be that much stronger.
If you’re under 30 years old, there’s no rush to go to business school. You can always try again next year.
When you finally do get into business school you’ll have more industry experience to share with others, and because you’ll have a better overall grasp of the business world, your interactions with other students will be more fruitful and productive.
If I hadn’t gotten into Wharton or another a top school during my first application attempt, I would have continued working and reapplied.