Profile Evaluation (670 + IBD/PE background)

[ang]

Hi, could you please evaluate my profile below and let me know (i) whether I should attempt the GMAT a third time and thus skip R1 (ii) what my chances are at getting into my target schools?

Any advice would be greatly appreciated.

- Nationality: First generation Asian American
- Gender: Female
- Undergrad GPA: 3.5 GPA, Dual degrees in Finance/Accounting from a Big Ten school
- Work Experience: 3 years investment banking at a bulge firm, followed by 2 years at a middle market private equity firm (just finished up my first year)
- Extracurricular: alumni board member of undergrad business fraternity, mentor/volunteer of a national youth mentoring organization
- Timeline: target to apply fall 2012 (debating R1 vs. R2)
- Target schools: Wharton, Kellogg, Booth (if I had scored 700+, I would apply to reach schools such as Harvard/Stanford)
- GMAT scores: have taken this twice and scored sub-700 both times; 640 on the first try and 670 on the second try; am debating taking it one final third time but am not 100% confident that I will hit 700+ or score better given maybe 1/3 of my practice tests have scored 700+ and are at best in the area of 720 (versus something like 760)

At the end of the day, am debating between sticking w/ a 670 and applying R1 or taking it a third time and applying R2? Taking it again runs the risk of not hitting 700+ or even possibly scoring lower while missing out on R1. On the flip side, sticking with a 670 could mean that my score is too low to get into my target schools and so may be worth the risk. Any thoughts on how to structure my thinking would be appreciated!

[mili]

Hi there,

This is a tough decision! I think you should really ask yourself how set you are on those particular schools. If you are dead set on them, then it's probably worth retaking the GMAT and attempting that 700ish score. The acceptance rates between R1 and R2 and not that different, so you shouldn't worry too much about 'missing out on R1.'

If, on the other hand, you are willing to go to schools that are slightly less competitive, e.g., Duke, Michigan, Darden, UCLA, then you could probably keep your 670 and have a shot.

I think that your overall profile, taking into consideration your GMAT, banking, and mentoring/board experience is the average banker profile, but that you are at a slight disadvantage within this group with the slightly low GMAT (many people with your background are applying to the same schools with the same experience, but with higher scores).

I hope this helps you think it through!

Good luck,
Mili


Mili Mittal
Senior Consultant
http://www.mbamission.com

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[ang]

Thanks Mili! That is very helpful.

In a scenario where I took it a third time and still did not hit 700 or scored lower, would that hurt me more than if I had stuck with a 670 and applied?

To provide further color on my background as well, I am from the Midwest and Kellogg is my #1 choice - I also have two strong work recommendations from there, though they do not necessarily have any special connections (i.e. knows the dean, large donors, etc). I am not sure if that would change your response at all.

I really appreciate your insight, this is prroving to truly be a tough decision!

[mili]

It won't hurt you -- only your highest score is considered. If you were to take it a 4th or 5th time, that might indicate poor judgment. A third attempt when you had a pretty big improvement between the first two seems reasonable!

I don't think the other factors you mentioned are going to work to your advantage in any make or break way, so my advice remains the same.

Good luck,
Mili