Hi Absolut,
Thanks for writing in. A low GPA is always a challenge to overcome for a top-5 school, but it can be done. You can use the optional essay to address your transfer credits, although they may wonder why you received a 2.9 at USC. If you are aiming that high, you may want to take an online/community college course in an MBA-like subject that you struggled with in college. A 770 is obviously an amazing score and could answer doubts about your quant skills.
My advice would be not to dwell on your GPA and instead focus on your work experience -- it seems that you've had some early successes -- and your post-MBA goals. Make sure your story is clear, that you've done on your research on the schools, and it never hurts to apply in R1.
Good luck!
Daniel Richards
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