GMAT/MBA assistance

[The Dude]

Ladies and gentlemen, I need some assistance with an issue I am facing. I recently took the beloved GMAT exam and, much to my dismay, bombed the Quant section. Did ok on the Verbal, but unequivocally bombed the math. 640 overall, with a 90 percentile on Verbal. I'm too embarassed to put the percentile of the Quant section, so let's just say it was very average. My undergrad is from a top liberal arts college and my GPA was a pedestrian 3.3, but my grades improved as I went along and my GPA in my major was closer to around 3.5. I lettered 4 years in varsity football and participated in numerous extra-curr. activities.

Since college, I enrolled in the CFA program and was fortunate enough to pass 3/3 (charter pending). I am currently (and have been) involved in numerous activities outside of work, with strong leadership roles. I work for a boutique investment management shop, and have a leadership position there (VP). My question is two-fold: do I even have a shot at bringing my GMAT scores up to top-10 level (>700)?
And should I even bother applying to any top schools with such a low GMAT?

I've heard conflicting views on the benefits of re-taking the GMAT. If I were to apply with this GMAT, my only hope would be that my demonstrated success on the CFA exams outweighs the negative aspects of my GMAT. Do admissions offices use that? Like most others on this board, I am interested in top 10 schools, but I know with these scores that is a stretch at this point. Would even a #11-20 ranked school (UVA, NYU, Duke) accept this?

 

[dlp3719]

1. Do I even have a shot at bringing my GMAT scores up to top-10 level (>700)?

It depends on what effort you put in prior to taking the GMAT. My ugrad degree was in Math. I sucked in the math section until I practiced with the Princeton Review and Official Guide to the GMAT. GMAT MATH (esp. Data Sufficiency) is not intitutively obvious. Unless you practice it, it does not make a hell of a lot of sense.

So if you tell me, you didn't prep much, then I say hell yeah, you can raise your score.

2. And should I even bother applying to any top schools with such a low GMAT?

GMAT is only marginally important. After some threshold (maybe 670ish), it no longer has much predictability on admissions. All you have to do is read all the message boards out there.

I'm at a top school. There are people here with lower than expected GMAT's but they are not from finance. They are from the military, top fine arts schools, etc. Lowest I've heard thus far is 660.

Good Luck!

 

[equityresearch2006]

I would actually be interested to hear if anyone has some insight on the truth about how taking the GMAT twice is perceived. I was a math major undergrad and, on all my practice tests was scoring in the 99th percentile on math. The day of my test I cracked alittle as I hit a problem that was causing difficulty. Rather than just move on, I spent forever on it and ended up breezing through the end of the exam. I ended up with 80% on math.

Anyway, I still ended up with a score in the low 700s, but my practice tests indicated I would end up around 760-770. I've been trying to figure out if its worth taking again just to get it up 30-40 pts. My inclination is to say screw it, its good enough, but who knows.

My main concern is that my gpa blows but it is clear by looking at my classes (all electrical engineering, math, etc) that the curriculum is much more challenging than most, and I also had some extraneous circumstances that affected grades. Even showing that though, I am concerned that top 10 schools will dismiss my app just because the number of my gpa is significantly lower than their average. On the other hand, I have agonized over wondering whether a near 800 score would balance out that concern.

Any input is appreciated.

 

[mwr]

Try this for questions about the gmat. http://www.testmagic.com/

there is an active community there that will be able to answer you question about retaking the exam.

 

[TSonam]

Can you guys recommend some good GMAT BOOKS TO USE?? EXAM BOOKS TO PRACTICE ON?? I would appreciate your help.

 

[darkstar]

equityresearch2006,

They're going to look at the whole application and not just the GPA/GMAT, and there are so many other factors to consider. Most admission people are going to consider not only the GPA, but the rigor of the coursework you took and quality of the university that you attended, and they'll take into account that EE/math courses are difficult and grades in general tend to be a bit lower in the physical sciences and engineering than they do in other academic departments (at least this was the case where I went to college). Work experience, essays, recommendations, and any leadership experience is a huge part of an MBA app.

If you're sure that you can get a 750+, you may want to retake the exam to balance out a low GPA, but since you're already over 700, there may only be a marginal benefit. I've heard that it doesn't matter too much exactly what your score is as long as you score 700+ (the difference between a 670 and a 700 is seen as much greater than the difference between a 710 and a 740). At least, that's what I've read.

 

[nyfinance]

EquityResearch, most books written by former mba admissions officers suggest offering an explanation for why you had to take the test again. Also, the second test had better be higher than the first; admissions assumes a standard deviation so if you have a bad day then your 700s looks like the high end of your potential.

BUT, if you can get a 750+, that will mean a lot. None of the books I read said this specifically, but I did notice that they tended to use multiples of 50 to categorize types of applicants. A low 700 is very respectable, but not necessarily "elite", as opposed to a 750+.

TheDude, keep in mind that MBAs are looking for people who can build up the rep of their mba. If you think your career record clearly indicates a high upside, where the mba will position you to do "big" things, then go for it. Otherwise try to take the GMAT again and explain why you initially scored poorly. And keep your mind open. Not everything begins and ends with the rankings.

 

[abacus]

Low 700s is a very good score & is just one part of the whole MBA application process. I would not waste my time retaking the exam. Instead, visit your target schools, focus on writing persuasive essays, and prepare to impress the admission folks in face-to-face interviews.