Ask an MBA Admissions Consultant

Hi,
I was planning to complete three applications (McCombs, Owen, Kenan Flagler) by the Round 2 deadline, but I don't know if I should wait to see if I can improve my GMAT score. My last few practice tests have been in the high 500s, which is about 100 pts off my goal. The Round 2 deadlines are at the end of November/beginning of December, and my first GMAT test is scheduled in late November.
I have a 3.3 GPA from UNC with 4.5 years of work experience. However, I have been unemployed since last October. Since January, I worked with two non-profits, but I'm not sure how detrimental that will be to my application. I have a job starting in December.

If I have competitive test scores, I will be prepared to apply to Round 2, although I need to finish my essays.
Do you think its worth applying to these schools in the 3rd round in hopes of getting a better GMAT and having a job or applying 2nd round while many spots are still available?