Q) I was fired from my job. Will that affect my chances of getting into a top business school
If you are fired from your job as part of a downsizing published in the media, you don't have to worry too much about the event's outcome on your admission chances. On average, it takes 2-3 months for a person in their late 20s/early 30s to get another offer in hand that meets the current base salary range and experience.
Circumstances Other than Mass Layoff
If the circumstances of your layoff were outside the mass layoffs and verge into disciplinary action, then your admission chances to top business schools fall considerably. Schools have strong background checks. The tolerance is low for conditions similar to fund misappropriation or unethical behavior that harmed the employer's reputation, capital, or both.
Performance-Based Layoff
If you were fired for missing performance-related milestones, targeting top schools becomes an uphill task as finding recommenders validating your performance becomes a challenge. If you have worked with three employers and all your previous employers can vouch for your performance, then the performance-based layoff in the third can be managed.
If you worked with two employers and the tenure with the first was over two years, then you can redeem yourself, provided you had a strong career progression with the first employer.
Cultural Mismatch
Be honest about the misstep. Don't hide behind excuses or blame the supervisor. If missing the performance metric is based on a mismatch in communicating expectations, you can apply to top Business Schools.
One common performance-based layoff is related to a mismatch in culture. Startup candidates joining large organizations and applicants with experience in large, structured organizations struggling in a chaotic startup culture is a common but successful narrative that we have used for layoffs.
Bouncing Back
It can be disappointing when you are fired out of the blue, but you will look back at the event with fondness in a few years.
Reframe the event, and don't sit still.
Take a break for one day to cool off but get back to the job market. I remember having a conversation with a friend who was laid off during the pandemic's peak when his entire aeronautics division was let go. While consulting with me to edit his resume, he was applying to 3 openings a minute. His hard work paid off in 1.5 months.
Expect 1-2 months to get the next offer that ticks all your criteria. Prioritize the job search and apply to Round 2 if the layoff happened between May and August or push to the next admission cycle if the layoff happened between September and December.
Volunteer
Since most of our identities relate to our job/work/business, losing it can be catastrophic. While you search for a job, join a non-profit and leverage your skills to help the community. This will help you to focus outwards and add the much-needed volunteering experience for your admissions – next round or next year.
If you need my guidance, feel free to contact me, Atul Jose, using the Contact Form or Add me through LinkedIn, or you can listen to the #askAtulJose Podcast.
About Atul Jose
Atul Jose is the Founding Consultant at F1GMAT who has helped applicants get into M7 and Top 30 Global MBA programs over the past 14+ years. He is the author of the Winning MBA Essay Guide and the host of the Winning MBA Admission Tips Podcast.
