Let’s break it down further.
If you weren’t accepted to bschool this past season, there are only two possibilities:
a) your profile isn’t strong enough, or
b) your presentation of your profile wasn’t strong enough
To grossly oversimplify, either your GMAT (or GPA) isn’t good enough, or your essays weren’t. Or both. That’s it. That’s all there is. Those are the application components. You fell down on one or more of them.
Or, you’re not targeting the right school. A profile that is “strong enough” for one school might not be for another. Same goes for essays. The quality of writing and finesse of presentation sufficient for a Top 30 school just won’t cut it at a Top 5 school.
Or, you’re too young for your target program. Instead of trying for Wharton or Columbia or NYU when you have just graduated from college, look for schools that are open to younger candidates (HBS and Stanford — if you’re a superstar; otherwise possibly Booth or what about schools like Georgetown perhaps).
Or, yes it’s true, you might be too old. Instead of trying for the standard Columbia MBA if you’re over 30, you should consider their EMBA programs, or even the J-Term if your goals are the right match.
But even in these cases, it still boils down to one of the other two issues: it’s your profile, or your presentation.
If you want an unbiased assessment of what went wrong, check out some options from EssaySnark here.