Dear Hoyden,
Thanks for your post!
On the surface, my gut instinct is to NOT have you retake the GMAT based on a 740 result. Your score is well above the average at all the leading MBA programs and you are already into 'wow' territory on the exam from the standpoint of most adcoms.
While your GPA is of some concern, you really haven't provided me with enough detail to make a more nuanced assessment here. For example, is your "3.0" a "3.00" or a "2.98"? Also, is the GPA converted from a school in India or did you attend unviersity in the USA? If the former, I'd like to know the raw score you received in India (usually denoted in percentiles) as well as any class rank information you might have. Finally, regardless of whether the "3.0" is from India or the US, I'd need to know more about where you attended school and what you studied to help give you a sense as to how this coursework will be intepreted by the admissions officers. As you might imagine, a 3.0 GPA from Princeton or one of the IITs in India may not be viewed in the same light as a 3.0 GPA from a lesser school.
So why does all of this matter if I'm leaning towards not having you retake the GMAT? The reason is that there may be other steps you'd need to take to address the GPA concern - e.g. outside coursework in business-foundation courses over the next two years until you apply, etc. The nature of your academic background may also impact how you approach the XCs in your profile, what sort of work experiences you seek out, etc.
Feel free to send a complete resume (along with the answers to the questions I've posed above) to
[email protected] if you'd like to set up a free chat with a Clear Admit admissions counselor - or you can simply post a reply here in the general forum, or in our Ask Clear Admit thread.
Best of luck,
Graham