Doctor going for MBA. GMAT questions!

[patelamit]

Hi guys!
I have been a silent visitor for months and wanted start off by saying thank you.
I am posting today to ask your help. I need to decide whether I need to take the GMAT again.

Background
29 years old. Indian Male. Currently in my last year of residency as an Anesthesiologist. Went to a top 10 college. Biomedical Engineering undergraduate degree. Top 25 medical school in the united states. Tons of medical/volunteering and other extracurriculars throughout college and medical school.
During residency I have held numerous leadership roles in my program and on the national level, all in Anesthesiology though. I also started some business side projects (all financial unsuccessful) but still alive today (such as numerous iphone apps, websites etc)
Stats
GMAT taken recently : 710 (V39Q49 - V87%, Q80%) overall 92%
Undergraduate GPA: Probably around 3.6

Why MBA
I desire to get into the administrative/start up medical scene or I want to improve hospital/operating room efficiency.

Goal
I will be finished with my residency in one year, June 2013, at which point I can probably get a job for around 300k/year. I would like to instead start B-school full time in Sept 2013 and hopefully work part time if possible. Because I am sacrificing a lot of money, I think I will only go to B-school if I can get into a top 5 program. I am not trying to be cocky, I am just thinking about the financial sacrifices.

Do you think my 710 is a good enough score or should I retake it. Due to my hectic work schedule, my preparation for the GMAT was limited to taking GMATprep exam 1 two days prior to the actual exam. I believe my Quant could increase if I studied since I had forgotten all basic math and was trying to derive basic formulas during the exam. However, the question is whether I need to retake it to be a competitive applicant. Unfortunately, I am already working almost 80 hours a week and it's tough to get time to study or even retake the exam.

I would also appreciate any opinions/experiences/thoughts on my desire to pursue an MBA.

[rachel]

Hi! For the top-tier schools, your GMAT is within their range but on the lower end. Of course, getting your score up into the mid-700s wouldn't hurt, but you can still get into a top school with the score you have. If you have limited time, I would dedicate it to building the strongest application you can. You will need to clearly lay out to the AdCom why you need to go to business school and why you aren't pursuing a career in practicing medicine. Your reasons for this have to be well thought out and convincing to the AdCom. In addition, they will look closely at your extra-curriculars and letters of recommendation, which must tell them why you are a stellar candidate through real-life examples.

Remember, the GMAT is just one piece of the puzzle when it comes to the business school application.

Best of Luck,

Rachel Beck


http://www.mbamission.com

Read the mbaMission Insider's Guides (16 individual school titles)

Download mbaMission’s Free Personal Statement Guide

Visit the mbaMission Blog

Follow mbaMission on Twitter