Should I go for a top b-school for IM this year or try again next year?

Hi guys,

I am currently 27, and applying for business school to start next year. I would have 5.5 years of work experience by the start of the program. I am aiming for investment management roles (currently working at a small fund) and from my understanding in terms of the best b-schools for IM, there is a significant drop after H/S/W/Col/Booth.

I have a decent profile but it is not exceptionally strong, so there is a chance that I will strike out at all five of these schools this year. I am set on getting my MBA and if I don't get in to any of the five schools above, I would consider the remaining M7 programs - Kellogg and Sloan.

Given that the student body and alumni network in IM are significantly stronger at H/S/W/Col/Booth, I am considering to this year only apply for those schools, and if I get rejected by all of them, to next year reapply to try again, and by then also apply for other schools like Kellogg and Sloan so that I'll have at least one b-school to attend.

My concern is whether waiting another year and having 6-7 years of pre-MBA experience by then would put me at a disadvantage for post-MBA IM/IBD roles? Also, my GMAT is already fairly high and I have been promoted to a good position at my current firm already, so I'm not sure if reapplying would make a difference in my case... Any advice on what to do would be much appreciated.