Having a Plan B
Thursday, August 6th, 2009When you sit down to write your “Why MBA” application essays this year, there’s a big rule to keep in mind: tell us your back-up plan. That’s the advice we heard over and over again from top MBA admissions officers who met with us at our annual AIGAC conference in June.
Why? Because the world has changed, and times are tough. Round 1 applicants who sat down to write their essays in August and early September of last year lived in a different world, one in which they weren’t too worried about finding jobs after graduation. All that changed in mid-September 2008, and since that first lurch towards economic meltdown, applicants no longer have that luxury. As a result, one of the phrases we heard over and over again from admissions officers was: “Have a plan B.”
Does that mean they want you to play it safe? No. They still want to hear all about your stretch goals in your “Why MBA” essay. They never have been, and never will be, looking for applicants with small ambitions. They still want to see applicants who show the most promise and are going to make the most of their time in business school and beyond.
But now they’re also looking for realism. Are you the kind of person who will fare well in the recruiting process? Do you have a plan B in case your big plans don’t materialize right after graduation? If you’re coming to business school to change careers, can you demonstrate that you are realistic and have educated yourself about how hard that is going to be? What will you do if the path to your stretch goal becomes longer and rockier? The days of having a great job handed to you on a platter on the way out of business school are over (for now). As an applicant this season, you have to be able to show that you are both ambitious and realistic.
That’s not bad advice to follow even in happier economic times, because as we saw last September, the employment market can change in a day. So when you’re sitting down to work on your applications this year, make sure to articulate your plan B and showcase your willingness to roll up your sleeves when plan A doesn’t materialize right away.
Anna Ivey is Vice President of AIGAC and the founder of Anna Ivey Consulting.