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I'm in the middle of applying right now, and I'm not hyping it up. However, the more quantitative or financial schools (Booth, Haas, Wharton, etc) may treat it like the ethics adjustment - if you're on the edge, it may be the little bump that pushes you above someone else.

A school like HBS that focuses almost exclusively on leadership probably won't care too much about it since it doesn't demonstrate leadership in any sense of the word

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