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Need Help! from Sure Shot 700+ to 660 in actual exam

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Need Help! from Sure Shot 700+ to 660 in actual exam

by Targetis760 » Tue Aug 09, 2011 9:56 pm
Dear All,

Need every possible advice; i am badly bruised - veterans pls come forward and help - i had already started dreaming of my debrief in here, untill all changed when i saw my score :)

I now have two concerns:
1) About retaking exam
2) If to now apply in round 2


My Track record:
Joined the forum 2 yrs ago. started, stopped in between and then finally gave it a shot with 4 months of concentrated effort. My scores:
PowerPrep #1 (730, Q: 51, V:38)
PowerPrep #2 (760, Q: 50, V:44)
Knewton Free # (720, V42, Q47) was jittery & not confident. Was spaced out and badly timed
GMAT PREP OLD #1 (710, Q: 48, V: 39)
GMAT PREP OLD #2 (760, Q: 49, V: 42)
GMAT PREP NEW #1 (710, Q: 48, V: 38) - new many questions. Lost focus
MGMAT #1: V34 - did not give quant. was worried too see bad scores and thus focused on verbal
MGMAT #2: V36 - do -
MGMAT #3: V35 - do -
MGMAT #4: V45 - do -
MGMAT #6 (740, Q: 47, V: 45)
MGMAT #5 (680, Q: 47, V: 36) - (was un-focused a bit. was not sure if i should give exam a day before)
GMAT (Actual) # 660, Q 47, V:33) (in exam, was in good state of mind. no panic. no complains)


A little about background:
- Male 33 yr; Graduate in Fashion & Retail Management
- Great track record (topper in my graduation 74.5%, awards for on job performance etc)
- Traveled extensively for business negotiations / development; 20 trips in total (Germany, France, Spain, USA)
- Champion in Pin-Bowling Tournament for two years
- 10+ yrs experience in fashion and clothing retail
- Currently C.O.O. (been in the company from inception and oversaw growth from 0 to USD 6 million (its decent in Indian fashion retail context)


I am aiming for 12 month B school Programs: IIMa India, Insead, ISB India, LBS UK, Kellogg US etc


I HAVE TWO QUESTIONS
1) Shall i retake and apply in Round 2 OR apply now in round 1 with 660
2) AND If i really want to re-take for my satisfaction, WHAT TO STUDY NOW - WHICH RESOURCE?
i have licked every resources, Have volumes of notes (OG, VR, QR, MGMAT 8 guides, all resource from forums
PS:i know, i would have goofed up in CR and RC. in SC am good
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by beatthegmat » Wed Aug 10, 2011 7:34 pm
Thanks for posting this question! This may be a better question for an admissions consultant, but let me try to provide my 2 cents here.

This is just my opinion but I believe that when it comes to MBA admissions, work experience is most important. The reason why is that through your work experience you can actually demonstrate a real track record to lead others as well as earn success. It seems like you have clearly done that through your retail career to date, rising the ranks to become COO and manage a VERY impressive rise in revenue. You have a rockstar background that would impress any business school.

The question you asked, of course, is whether you should spend time re-taking the GMAT. If I were in your shoes, looking at the schools that you are, I would probably not re-take. On the one hand, 660 is on the lower side for in terms of average GMAT for the schools you're targeting. But on the other hand, you are an 'older' candidate with very impressive work experience and interests. I tend to believe that a great GMAT score is more important for younger candidates (who don't have as much experience), but then the GMAT test becomes less important as you gain work experience and demonstrate a track record of success.

Given your experience, I think that improving your GMAT score is going to only incrementally help your admissions. However, focusing on writing amazing essays to describe your accomplishments, what you've learned in your career, and what you plan to do after b-school will dramatically improve your chances of getting in. Thus, I'd focus on the other areas of your application (namely essays) at this point. I have a feeling you're going to do really well with your applications!

Good luck, and please keep us posted.
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by Targetis760 » Wed Aug 10, 2011 10:42 pm
beatthegmat wrote:Thanks for posting this question! This may be a better question for an admissions consultant, but let me try to provide my 2 cents here. . .
Hey Eric, thanks a tonne for being elaborate and so encouraging. I have one question; what do you feel is the difference between round 1 and round 2. Since i am only focusing on INSEAD, and in case there isnt much disadvangatge in applying in round 2, then its only matter on one month to re-take exam - it will satisfy me personally also - and just might be better positioned.. . . but if round 1 has its advantage, then i would definitely be reducing my chances.!!

what do you say

Gaurav
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by beatthegmat » Wed Aug 10, 2011 10:48 pm
I think that you should apply when you are ready to apply. I'm not sure what the difference in your chances would be for Round 1 vs Round 2, but I do know that it's always to your advantage to submit when you are fully satisfied with the state of your app. If it takes longer to do, then fine (but not Round 3!).

I want to add another side point--I'm certainly no expert in macroeconomics, but I'm fascinated by the double-dip recession that the United States may be heading toward, which may in turn (along with Europe's financial woes) pull down the world's economy. It's said that during bad economies, business school applications rise. If the economy really falters this fall, then I expect there will be a ton of applications coming in for Round 2. And if that's the case, the competition might heighten by then.

Again, take my opinions with a grain of salt. This is VERY speculative on my part.
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by sss2534 » Thu Aug 11, 2011 2:46 pm
This is a very interesting observation. I remember during / after the 2008 recession -- several of my friends went to business school to ride out the recession. It worked out great for some of them -- who made good money last year in wall street. But for several others -- the post MBA offers were simply not that impressive. And in this current economic slowdown -- year end bonuses are not going to be very big this year.

There was an interesting article in Poets and Quants by John Byrne several months back. He spoke to the admission officers at Stanford who predicted that applications will be down even at mighty Stanford this year.

It is also unclear what impact, if any, the recent economic situation will have on student loans in the long and short term (mainly unsubsidized stafford loans). The cost of an MBA is a prohibitive and limiting factor. Domestic applicants are going to be more cautious about quitting their jobs -- especially when their savings have taken a big hit in the market and there is no sign that things will significantly improve anytime soon. There are also other options such as an executive mba, which has seen an increase in the number of applicants.


beatthegmat wrote:
I want to add another side point--I'm certainly no expert in macroeconomics, but I'm fascinated by the double-dip recession that the United States may be heading toward, which may in turn (along with Europe's financial woes) pull down the world's economy. It's said that during bad economies, business school applications rise. If the economy really falters this fall, then I expect there will be a ton of applications coming in for Round 2. And if that's the case, the competition might heighten by then.

Again, take my opinions with a grain of salt. This is VERY speculative on my part.
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by beatthegmat » Thu Aug 11, 2011 2:51 pm
Thanks for that perspective, sss2534. I think your right that the MBA applicant market may have learned from the experiences of the 2008 applicants. I heard as well than many of those graduates didn't end up with great job prospects, post MBA. One lesson that we might be able to draw from 2008-2010 is that being an MBA student may not be the best way to ride out the recession.

I'm just keeping my fingers crossed that we don't have a double-dip after all. Stay positive, right? :)
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by falconprodigy » Sun Aug 14, 2011 1:11 am
Yes you are absolutely correct Eric. Keep our fingers crossed :)
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