720 - good enough?

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rishiphadke: Newbie | Next Rank: 10 Posts; Posts: 4; Joined: Sun Mar 01, 2009 5:52 am; GMAT Score:720

by rishiphadke » Wed Mar 18, 2009 8:58 am

Hi Stacy,

I took the GMAT yesterday and scored 720 (Q49, V40) - 95 percentile overall. While it's a decent score, I'm a somewhat disappointed since I was targeting 750.

Can you let me know if this score is enough to a)get an admit & b)secure chances of financial aid?

Target schools - INSEAD, Wharton, Columbia, IMD (in that order)

My profile - I have 5 years of work experience in a top MNC banking corporation. Currently at VP position and handled national level positions. I also have a prior engineering graduation degree followed by a management degree from one of the top 10 schools in India. However, my goal is to have a global MBA from one of the top 5 schools in the world.

Financial assistance would mean a lot to me, hence the question.

Thanks in advance,
regards
Rishi

Source: Beat The GMAT — Ask Stacy Blackman | Wed Mar 18, 2009 8:58 am

GMAT/MBA Expert

Lisa Anderson: MBA Admissions Consultant; Posts: 3845; Joined: Wed Feb 06, 2008 8:57 pmFollowed by: 148 members; Location: Houston, TX; Thanked: 442 times

by Lisa Anderson » Wed Mar 18, 2009 6:14 pm

Dear Rishi,

Congratulations on your score! A GMAT score will not guarantee anything, so you should not expect it to get you an offer of admission or scholarship funds. Your score does put you in a competitive position in the applicant pool though, so you should receive a thorough review by your target schools. Your essays, recommendations, and interviews are critical to the ultimate decision. Be sure to convey your successful leadership and teamwork experiences in your essays as well as a solid rationale for getting your MBA in relation to your past experiences and future career goals. Finally, you might want to add 1-2 safety schools to your list. While you have a good shot at one of your target schools, it is always good to have a backup plan.

With regards to scholarships, you should not expect a scholarship award at any school. Scholarships are highly competitive and will usually only cover a percentage of tuition. As such, you will still need to have the funds to cover a majority of your costs.

Good luck,
Lisa

Lisa Anderson
Consultant
Stacy Blackman Consulting

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