Should I call it quits???

Free advice from the world's top MBA consultants
This topic has expert replies
Newbie | Next Rank: 10 Posts
Posts: 6
Joined: Mon Jul 19, 2010 1:24 pm
Thanked: 2 times

Should I call it quits???

by ianperez7 » Fri Aug 20, 2010 10:44 am
I studied intensely for the GMAT this summer in hopes of applying to an accounting PhD program this December, and today was test day. Shocked by my score, I doubt whether I have a realistic chance of getting into a decent program, and I would really, really appreciate some advice from an admissions consultant on whether I should even bother to apply.

Here is my official score from this morning:

Q45 (72%)
V35 (73%)

650 (79%)


Is this score likely to fall below whatever threshold schools use as an initial screen applications (i.e.. I would not even be considered)? The answer is extremely important to me, because I may be able make up for the low score in other areas. Actually that's a question... will this make up for my score:

- B.S. in finance with 3.7 GPA from the University of Central Florida (a likely unknown state school in my hometown)

- M.S. in finance with 3.5 GPA from the University of Florida (go Gators!)

- Two years of work experience as a financial analyst

- M.S. in accounting with ~3.6 GPA from the University of Florida, expected December 2010

- Before I went to grad school the first time and with almost no preparation, my GMAT score, now expired, was 580 total (60%) with Q41 (61%) and V29 (53%). I was 19 years old at the time; yet, I was still able to get into UF on the strength on my recommendations among other factors, and I excelled in that program.


I realize the popular response to a low score might be to retake the test; unfortunately retaking the test within the appropriate time frame to apply in December is probably not an option for me, at least not with any amount of additional study this fall. Strangely, my practice tests suggest that I should have scored significantly higher today, so I don't know what to do. And I think a reasonable estimate of my prep time this summer is around 450 hours over 9-10 weeks using the MGMAT 8-book series and the three official guides. I studied diligently and consistently and targeted my weaknesses throughout the process. Therefore, I can confidently say my poor performance was not due to a lack of preparation in any way.

My scores on three MGMAT CAT's and official GMAT practice test #1 were extremely similar, although each revealed a new quant area for me to focus on. There was little variation in the total score, 680 on most attempts (including official practice #1), so as of a couple weeks ago I considered that number to be a fair predictor of my official results. However, for the past week and a half I completed an extraordinary amount working on my speed/time management while studying and practicing in the specific quant areas in which I was having difficulty; a couple days ago I took official practice test #2 and scored a 710 with Q45 and V41. That verbal score was consistent with a slight upward trend in my other practice tests, up 3 points from my starting point before any verbal prep at all. I always sensed that I performed well on the verbal section in both the MGMAT and the official GMATPrep tests. Even today, though it very difficult at times, I actually felt extremely confident and thought I may have even scored a 42+ in that section.

I have never been good at standardized tests, so I'm almost not in complete disbelief, but I don't understand how I could study for so long, know so much, feel like I did so well, and fail so badly. I mean, a V35 is light years away from a V41. Maybe my quant score would have been too low anyway, but I felt like I had a shot before. Some of the schools I was interested in when I expected to score around 700 were University of Washington at Seattle, University of Illinois at Urbana-Champaign, University of Southern California, University of North Carolina at Chapel Hill, and Indiana University at Bloomington.

While I realize this forum is aimed toward MBA applicants, I would sincerely appreciate any advice or insights you can provide. I passionately aspire to pursue doctoral studies in accounting, but with the intensity of my commitments this fall, I would like to have a better sense of whether my efforts to apply would be futile.


Ian
Source: — Ask an MBA Admissions Consultant |

User avatar
Legendary Member
Posts: 1255
Joined: Fri Nov 07, 2008 2:08 pm
Location: St. Louis
Thanked: 312 times
Followed by:90 members

by Tani » Fri Aug 20, 2010 3:33 pm
First, 650 is not a horrible score. Yes, a lot of programs want 700 scores, but the median for public universitites is only 685 ( see : https://www.nysscpa.org/cpajournal/2007/ ... ls/p66.htm and you are not out of the range of statistical significance (usually pinned at 40 points). Remember median means that half the class was at or below that score. A 650 shoudl not put you completely out of contention. Certainly your score won't help, but you do have several other strong factors.

Your score puzzles me. You certainly have a strong quant background and you say you regularly scored much higher on practice tests. That sounds to me as though you were stressed on test day. A very common situation. Add to that your 450 hours of preparation and I suspect burnout

I suggest two things. Do a little more research to see what your target schools are looking for. They may want 700, but try to discover whether that is a target or a cut-off. You could even try establishing a dialogue with one or more of your target schools. Perhaps someone from the University of Florida accounting department would have a contact. Talking directly to an admissions officer could give you a more realistic view of your chances and the impact of your other achievements.

Second, you show all the signs of test burnout: incredible hours of study, excessive work the last week, a record of standardized test score lower than your classroom performance. Think about retaking the test in a few weeks, once you have settled down. Don't cram and push yourself, simply sit down, ensuring that you are as relaxed as possible, and take another shot. I don't believe you need more study, just a good dose of inner calm. Given that you already have a reasonable score under your belt, you may find the stress has lessened considerably and be able to reach you true potential. It is very unlikely that the score would drop and you are close enough that even a few points could make a significant difference. Remember, the way this test scores, only a couple of right answer can move your final score considerably. Also, I notice that you say you focused on your weaknesses. While that is good up to a point, remember, in the long run your points are going to come from your strengths. Don't overlook those.

One other thought. Because you have two advanced degrees already, any school will want to know why you are looking at a PhD. Once you get down to putting your applications together be sure you have a convincing story. A reader is likely to wonder whether you really want a PhD or are just looking to spend more time in school.

Good luck and don't give up.
Tani Wolff

Senior | Next Rank: 100 Posts
Posts: 38
Joined: Tue Aug 31, 2010 6:29 am
Thanked: 1 times
Followed by:1 members

by ECLS » Mon Sep 27, 2010 11:41 am
all i have to say to you is ...

"Even Champions lose sometimes..."

dont let this score bother you so much....i got a 530 on my first attempt but i am still thinking of MIT and Stanford...keep your head high...and flush this feeling out of your system...

and when retakes are possible...just go ahead and kill it...