I hear that it is suggested that a applicant have at least 2 yrs of work experience. By the time my applications are submitted I will have 1.5 years of experience but when entering in the fall I should have 2 yrs. Any insights on how this will be perceived by admissions officers?

Depends on your work experience. It's not the quantity, but the quality that matters.

Alex
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www.mbaapply.com
http://mbaapply.blogspot.com