I just Beat The GMAT!

I took my GMAT yesterday and got a 700. Half of me is very elated and half of me is kinda disappointed. I thought I would do much better in math...I was running out of time and had to just randomly pick answers for 4-5 and because I tend to have a habit of panicking I start acting irrational and make very stupid mistakes..
On the other hand, I was positively shocked when I saw my verbal score..I didnt expect to get such a high score!
Anyways, I dont know if I have the energy to study another month and retake it (for some reason 700 is just on the line, if it was 710 or 720 I would have been more than happy)..and also my scores look so lopsided (ie math vs verbal)..but I dont know if its worth taking it again to get 10-30 more points. On one hand if I just focus more on math i think I can do better, but I dont know if I can get that lucky again with verbal.
I dont really have to go to harvard or wharton, but I am thinking of Columbia (even though its pretty ranked high)..and my dream school is Stanford (although if I got rejected but got into Columbia I would be happy).
I dont know if 700 is an insufficient score or not...what do you all think?? should i retake it??

Well, how were you scoring on your practice tests? If you were consistently getting 780 on your practice exams, you may have reason to take it again. If 700 met or exceeded your expectations, I'd probably just leave it at that. My experience with many, many students over the years is that if the student studied hard, did his best, and nothing weird happened (e.g., breaking down in tears during the verbal section, throwing up on the keyboard, etc.) on the first attempt, the second attempt score tends to be right around the same.

Another consideration is that there is very little difference between a 700 and a 710 - I'm not an admissions consultant, but I really can't imagine that being the difference between getting in and getting rejected. You have an acceptable score - now the schools are going to look at the rest of your application. In other words, you did what you had to do on the GMAT. Now it's up to your work experience, GPA, recommendations, essays, etc. to get you in.

Good job, be satisfied, and get started on the rest of your application!

Thanks!
Well I've been scoring in the 700-730 range as well on them but I'm not sure how accurate it is because either some of the questions are questions that Ive seen before (ie after taking it the first time) but at the same time i'm also distracted and not focusing 100%.
I guess what is replaying in my mind is some math questions that had I at least attempted to answer them then my score could have gone up by at least 10-20 points and thats whats bothering me..

I think you could benefit from a retake. The 700 score itself isn't a problem at all. It's is well within the range of scores at the best business schools. However, the quant score is mediocre at best and it could cast some serious doubt on your ability by these schools. Luckily, it won't be hard at all to improve the quant since your baseline is 35.

If you have the determination to study for another 2-3 months, i think it very well could pay off for you in the long run.

Yeah exactly thats my only worry. I've never been super strong in math although its quite ironic because I work in the finance industry and some math is required.
But at the same time I'm just kinda burnt out now and I dont know if I have the energy to do this for another month. Plus I am applying this fall..
I'm most likely to give it to the end of the week but unless my score is going to be a big flashing sign then I probably wont retake.

Okay, I may have reconsidered. You say you work in finance - are you going to concentrate on finance in your MBA?

If so, that math score will probably be a pretty big red flag. You might want to study up on quant and see if you can at least get into the 40s.

A big problem I've seen with lots of my students who work in finance or accounting is that yes, they use math a lot at work. However, as you know, GMAT math is different than regular math. It's not simple calculations - it's problem solving. Most importantly, there's no Excel or calculator there to help you! Try to practice getting by without those things at work - it might improve your mental math (and therefore your GMAT score) quite a bit.

well actually no, I want to leave the finance industry now. My plan was to just learn as much as I could before getting an MBA and then switching industries into something like marketing. What do you think of that?

Well, that's good news that you aren't planning on staying in finance!

I think you need to do an honest self assessment: are you going to buckle down and study your quant for a couple hours per day for a few weeks? Is it worth the stress and work to possibly go up 20-30 points? Are you willing to accept the risk that your score will stay the same or even decrease? Is the rest of your application so strong that your GMAT score won't be an issue?

Also, did you honestly study as hard as you could for the quant section? If you did, it's less likely that you'll go up now. However, if you didn't but much effort into it, you have some room to improve. Also, don't worry about "not getting so lucky" again on the verbal. A 50 is a just about as good as you can do, and I don't imagine you'd drop much - you'd still easily be in the 99th percentile (which starts somewhere around 45).

It's hard for me to say what you should do - it's up to you! I think if you're really that concerned with the score, though, and you're willing to put in the work (that's the key phrase here), you might want to take it again.