Have you considered some second tier schools?

Penn State
Fordham
University of Florida
Babson

Also I know not sure if with those numbers there might be something you are missing in your personal statement...etc

Your academic background looks solid to me.

I really wouldn't consider the second tier school because the people I am working with have a lot of prestige in their educational background. Getting a degree from a second tier school might actually hurt my career.

It is however a bit disheartening to be rejected by all the schools. I am wondering if there is something insurrmountable in my application.

The other alternative is wait a few more years get some more experience and apply for an EMBA program at those schools. You also should ask yourself why you want an MBA.

Just a thought...

See that's the thing. An MBA will accelerate my growth, but I know I will get it anyway. If I work for a few more years then I am really left without incentive for business education.

Perhaps it's a dumb thing to say, but have you tried talking to the admissions offices at the schools where you've been rejected? They might tell you if there is something they really didn't like about your application. You should start by saying that you don't mean to negotiate anything, you just want to assess your chances at other schools.

Then, I think you should also take into account that applications vary from year to year. If schools are now receiving an unexpectedly high number of applications, they will be more selective.

Good idea. I am going to talk to the adcom.

Need some advice on this, though: While I have a regular job, I am also earning 7 figure USD right now through my own business dealings involving traded securities. This income does not count toward salary or bonus and I am doing this through myself not a business entity so it is not entreprenuership either. Though it involves plenty of hardcore negotiation, analysis, etc, I just don't know how to put this in the typical b-school application format. Also I don't hire anyone so there is so little "leadership" or "team work". I am also working like 16 hours a day so there is little time for me to be involved in community development or other extracurricular activities.

How do business schools view this kind of experience? I really didn't mention any of this in my application. Do you think I should? If so, how?

That's a very important piece of information and I think any school would view it like a very positive thing. So I think you should definitely mention it. I don't know exactly where since it depends on the application format for each school.

One last thing which occurs to me is that perhaps some of the recommendation letters may not be helping. Have you asked the same people for all applications?

I did ask the same people for every school. They are busy so they wrote rather short recommendation. Oh I see that might be it. Bad recs...