I wonder if anyone has any thoughts on this. I applied to 3 schools - 2 top-tier, one decidedly middling. I was rejected by the better schools, and have just received an offer from the lesser one. Should I wait a year and apply again, when I have finished my MA with stellar grades and a ground-breakingly original dissertation (ha)? Or should I make the best of what I got this time around? There is no-one who fits extremely well with my project at the middling school, but would it be taking too much of a risk to assume a completed MA will make my application that much better next time around?