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4AllTheGold
- Junior | Next Rank: 30 Posts
- Posts: 11
- Joined: Fri Oct 07, 2011 5:12 pm
Hello,
I have taken the GMAT 4 times now and am in desperate need of some sound advice. I need to either take the GMAT again ASAP or get on my applications ASAP.
Basic Info:
-28 now, 29 in February
-White
-Male
Academics:
-State school in the Southwest
-3.41 GPA in business with a major in finance
-GMAT: 600 (Q35V37)
-Financial licenses including series 65 and an expired series 7 and 63
-CFA designation
Work Experience:
-2 years with Charles Schwab in the state I grew up
-4.5 years with boutique investment management firm in Southern California that manages $1.2 billion where I am the youngest portfolio manager. Was promoted twice and now manage a $7.5mm investment product (like a mutual fund). Transformed firm's firm's fixed income offering and built a bond desk - now serve as fixed income expert for the firm. Write quarterly investment commentary newsletter every other quarter that goes out to 600+ clients.
Extracurriculars:
-I am extremely active with the local CFA Society here in LA. I am a board member, a position I received after being elected, and I co-chair the fixed income group, and a couple other groups.
-I am on multiple finance/investment-related committees of a large school for the developmentally disabled.
-I run a surf group with 1200+ members and am responsible for continually raising funds and paying for dues, events, etc.
-I was the sole teacher of a weekly financial literacy class at a homeless shelter for a year
-I tutored underprivileged kids weekly through my former church for a year
Goals:
I want to work solely in fixed income (as opposed to stocks and fixed income) and would love to do it in an institutional capacity (i.e., managing large accounts for pensions, endowments, corporations, etc.) I am also interested in working for a fixed income fund which could be at a hedge fund, private equity shop, etc. This may mean starting in ibanking. I'm also somewhat open to transaction/restructuring consulting if it could lead me to a fixed income fund. Lastly, I want to stay in California long-term.
I was originally targeting a 700 GMAT and full-time programs such as Booth, Kellogg, Ross, Anderson, Marshall, etc., but now I don't know what to do. I actually just took the GMAT this week and also in October, and I was scoring much higher on practice tests. I got a 740, a 700 and two 680s, albeit the 740 had a lot of repeat questions. Additionally, my worst quant sub-score was a 40 with the best a 46. Since this setback, I started looking at part-time programs and am pleasantly surprised by those at Marshall and Anderson. Given my goal to likely stay in asset management, perhaps a part-time program makes sense, but this wouldn't be good to enter ibanking/consulting. I still fear that I'm not competitive, though, even for Anderson's part-time program, because of my wretched GMAT score. However, I wonder if my CFA and finance undergrad can make up for my low quant sub-score, considering that's really what killed my score. The number of 'next step' options is overwhelming, but here's what I came up with:
1) Apply to Anderson's and Marshall's part-time programs in late Jan/mid-Feb and apply to one or two slightly easier to get into full-time programs (maybe McCombs and possibly Ross too) by early Jan
2) Use the next month to study for the GMAT again and retake it before the Anderson/Marshall part-time deadlines
3) Do number 2 but with the GRE
4) Take the next two months to retake the GMAT and only apply to full-time programs in round 3
Other things to note: I have studied for the GMAT for over 1000 hours, off and on (mainly on) since 2011. I'm also getting older and my all-in compensation next year will be about $100k, so the opportunity cost of full-time programs suggests I should only leave my job for a great school.
Any thoughts and advice are certainly welcome and appreciated! Thank you in advance.
4allthegold
I have taken the GMAT 4 times now and am in desperate need of some sound advice. I need to either take the GMAT again ASAP or get on my applications ASAP.
Basic Info:
-28 now, 29 in February
-White
-Male
Academics:
-State school in the Southwest
-3.41 GPA in business with a major in finance
-GMAT: 600 (Q35V37)
-Financial licenses including series 65 and an expired series 7 and 63
-CFA designation
Work Experience:
-2 years with Charles Schwab in the state I grew up
-4.5 years with boutique investment management firm in Southern California that manages $1.2 billion where I am the youngest portfolio manager. Was promoted twice and now manage a $7.5mm investment product (like a mutual fund). Transformed firm's firm's fixed income offering and built a bond desk - now serve as fixed income expert for the firm. Write quarterly investment commentary newsletter every other quarter that goes out to 600+ clients.
Extracurriculars:
-I am extremely active with the local CFA Society here in LA. I am a board member, a position I received after being elected, and I co-chair the fixed income group, and a couple other groups.
-I am on multiple finance/investment-related committees of a large school for the developmentally disabled.
-I run a surf group with 1200+ members and am responsible for continually raising funds and paying for dues, events, etc.
-I was the sole teacher of a weekly financial literacy class at a homeless shelter for a year
-I tutored underprivileged kids weekly through my former church for a year
Goals:
I want to work solely in fixed income (as opposed to stocks and fixed income) and would love to do it in an institutional capacity (i.e., managing large accounts for pensions, endowments, corporations, etc.) I am also interested in working for a fixed income fund which could be at a hedge fund, private equity shop, etc. This may mean starting in ibanking. I'm also somewhat open to transaction/restructuring consulting if it could lead me to a fixed income fund. Lastly, I want to stay in California long-term.
I was originally targeting a 700 GMAT and full-time programs such as Booth, Kellogg, Ross, Anderson, Marshall, etc., but now I don't know what to do. I actually just took the GMAT this week and also in October, and I was scoring much higher on practice tests. I got a 740, a 700 and two 680s, albeit the 740 had a lot of repeat questions. Additionally, my worst quant sub-score was a 40 with the best a 46. Since this setback, I started looking at part-time programs and am pleasantly surprised by those at Marshall and Anderson. Given my goal to likely stay in asset management, perhaps a part-time program makes sense, but this wouldn't be good to enter ibanking/consulting. I still fear that I'm not competitive, though, even for Anderson's part-time program, because of my wretched GMAT score. However, I wonder if my CFA and finance undergrad can make up for my low quant sub-score, considering that's really what killed my score. The number of 'next step' options is overwhelming, but here's what I came up with:
1) Apply to Anderson's and Marshall's part-time programs in late Jan/mid-Feb and apply to one or two slightly easier to get into full-time programs (maybe McCombs and possibly Ross too) by early Jan
2) Use the next month to study for the GMAT again and retake it before the Anderson/Marshall part-time deadlines
3) Do number 2 but with the GRE
4) Take the next two months to retake the GMAT and only apply to full-time programs in round 3
Other things to note: I have studied for the GMAT for over 1000 hours, off and on (mainly on) since 2011. I'm also getting older and my all-in compensation next year will be about $100k, so the opportunity cost of full-time programs suggests I should only leave my job for a great school.
Any thoughts and advice are certainly welcome and appreciated! Thank you in advance.
4allthegold
