GMAT Retake Necessary? (Traditional Background)

[sgyoung12345]

Hi,
I recently took the GMAT's and received a 710 (Q49- 84%, V38- 83%: AWA 6, IR 7)

I'm still a few years away from applying (college senior), but I wanted to ask if this score is good enough to get into a program such as HBS or Stanford. I read that the medians at both these schools are 730, and so I was concerned since this is a bit below. I'm also an Asian male going into a BB investment bank (undergrad at an Ivy League) so I figured this would be more of a negative than a plus due to my "traditional" background?

Most likely I will give it another shot, but I wanted to get some thoughts on whether getting let's say, anywhere from a 730-750 will make me more competitive than the current score.

To put another way...

If a candidate is well-rounded in terms of academics, undergraduate education, work experience, recommendations, etc. (you name it), but has a 710, can this GMAT score be the decision maker for HBS/Stanford type programs?

An example scenario would be one in which two applicants are down to the wire (which is probably unlikely given different essay topics, recommendations, etc.) BUT in such a case, I'd assume that if applicant A as a 750 and B has a 730 the GMAT wouldn't be the tie-breaker. But would a 750 vs. 710 be significant enough?

Apologies if I'm being picky about receiving an answer; I just want to see how my score stands for these top programs and determine whether taking another crack at the GMAT will be beneficial.

Thanks!

[mili]

Hello,

I totally understand your concern, and I believe it's a valid one. In the event that two candidates are absolutely equal in all other regards, a candidate with a 30+ point lead on the GMAT would likely be the winner. So, to your point, if you don't have any other strong differentiators compared with other banking candidates, it might be in your interest to retake the test at some point over the next couple years and try to score 730+. However, I highly recommend you find other ways of differentiating yourself, too (via community/extracurriculars that are often difficult for most bankers to do given their schedules).

Good luck,
Mili

Mili Mittal
Senior Consultant
http://www.mbamission.com
 
Read the mbaMission Insider's Guides (16 individual school titles)
 
Download [url=http:// http://info.mbamission.com/MBA-Personal-Statement-Guide/]mbaMission’s Free Personal Statement Guide[/url]
 
Visit the mbaMission Blog
 
Follow mbaMission on Twitter

[sgyoung12345]

Thanks for the quick reply. I wanted to follow-up and ask just based on the score and the applicant (not comparing to applicant B, for example). For HBS and Stanford is that 710 a good enough score?

I know the 6 AWA and 7 IR doesn't really matter, but I still was able to crack the 80th percentile on both sections. Yet its also true that HBS and GSB have means higher than 710 (around 730 I believe). I've heard that taking the GMAT too many times may be a disadvantage, since adcoms may see this as an applicant who only cares about receiving high scores. I realize taking it twice wouldn't be that bad, but just wanted some reassurance before I make that decision to re-start the study process.

[mili]

It's going to depend a lot on what else you bring to the table. A 710 could be enough for an HBS/GSB candidate who started an awesome company or non profit and who has overcome hardship or someone who is a pro athlete... a really exceptional candidate in other ways. It may not be enough for the run of the mill consultant or nonprofit employee. So, if you feel that you don't really have anything in your profile that makes you standout/extraordinary, it could help to boost your score.

That said, I don't think it's necessary, and it's definitely one of those tough calls, because, as you say, a 710 is a great score and you might come off as "overzealous" on the GMAT front if you try to beat it....

There's not a right or wrong answer, honestly -- depends on your level of risk tolerance and the rest of the profile you build over the next few years. Hope this is somewhat helpful!

Mili

Mili Mittal
Senior Consultant
http://www.mbamission.com
 
Read the mbaMission Insider's Guides (16 individual school titles)
 
Download [url=http:// http://info.mbamission.com/MBA-Personal-Statement-Guide/]mbaMission’s Free Personal Statement Guide[/url]
 
Visit the mbaMission Blog
 
Follow mbaMission on Twitter