Retake GMAT 700?

[wknorvell]

Hi, wondering if you could give me your opinion on potential top 5 application for 2010. My major concern is that I'm on the edge for the GMAT.

Will be 27 when entering / 700 GMAT (38/83%V, 47/79%Q, AWA (haven’t gotten official yet)

4.0, University of Alabama, Major in Finance, Minor in Computer Based Honors Program

2 years i-banking analyst at Wachovia (energy and power), now work in the real estate division of a Southeastern Global Private Equity Shop (will have 3 years exp. when entering)

Interesting extracurriculars; Serve on Dean of Students Advisory Board for University of Alabama (youngest member by 15 years), work with an inner city Baseball/education based charity, moved to Prague for 2.5 months to close a deal for our euro office

College - USA Today Academic All-American (Honorable Mention), Interfraternity council president, president of Blue Key honor society, UA’s Outstanding Junior, numerous more honor societies/committee type involvement

Looking at Harvard/Stanford/Wharton/Columbia/Chicago.

Main question being do you think this will be competitive the top schools next year or should I retake the GMAT. Main reason I am thinking about it is b/c I was making between 42 and 46 on the verbal section on practice tests, so I know I slipped somewhere on that section.

Any advice would be much appreciated.

Thanks!

[mbamission]

Thank you for your inquiry.

Given what you've told us about your academic background and extracurriculars, you have chosen schools that are reasonable, although there is no "safety school" among them. Harvard and Stanford will be a mild stretch, but I would encourage you to apply. A good rule of thumb to use for those schools is that they want to see a 700 score with an 80th percentile on each of the verbal and quantitative scores. Since you essentially have that, I don't see a reason to re-take the GMAT. That written, if you think that you can retake the test with minimal effort and increase your score then you may as well retake it (schools will not punish a second attempt). However, if it will take considerable time from developing other parts of your profile then you should not retake the test as your score is strong.

Sincerely,
Jessica Shklar
MBA Mission

646-485-8844

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