Ask mbaMission

I am currently in the middle of planning for a future MBA and wanted to know what my current odds at my target schools and what could I do to improve my standing.

Educational Background:

I went to a middle tier Undergrad my first year was horrible I ended up with a 2.5 average for that year (which included introductory stat courses), I regained momentum and be raised my GPA to a 3.2 overall and Finance Major GPA 3.8, I also passed the first level of the CFA during my first semester senior year. I also recently sat down for the Level 2 CFA exam, and think I did fairly well (we'll see in august), I am only 22.

Experience:

My work experience is not what you call ordinary, when I graduated from undergrad I decided to go back home to Puerto Rico, and began working as an unpaid intern in August at the islands pension system which manages around 8B in gross assets, I quickly excelled among my peers and was offered what they call a "political position" as executive assistant to the Pension fund Administrator (comparable to the CEO) and to the Chief Investment Officer.

The pension system I am working in is currently the worst funded pension system in the united states, 9.8% funding, and it has an estimated life of five more years and a total obligation between all the funds of about 30 Billion, It is been called the Islands Achilles heel. The administration I am currently working with was brought in to try to salvage and restructure the system; we are dealing with a very demanding, dynamic, and challenging situation.

I know that I will be able to get excellent recommendations from both the Administrator and the plans CIO.

GMAT:

I am currently planning to take the GMAT in October, now that I have time to study since a just took the CFA level 2 exam which was pretty grueling and gave me no time for anything else.

Targets:

I would like to enter a MBA program at a top tier school I am currently looking at
Harvard, Columbia, Wharton

The Question:

Assuming I am able to achieve a GMAT score around 700 and I pass the Level II I recently sat for and the Level III CFA Exam.

What are my prospects for getting into one of these schools and more importantly what other recommendations do you have for improving my candidacy?

Thank you for your help,

D.R.

Dear ramirezyunque,
Thanks for your questions, and I congratulate you for already planning for the business school application process.

A few observations:

1) You are correct that your work experience will stand out. Many people do asset management, but the "Puerto Rican pension fund turnaround story" is new to me! While I am not exactly sure what you do for the fund, your access to and strong working relationships with the fund's leaders is truly key. Continue to look for ways to show leadership and drive results, and to the extent that your portfolio of responsibilities continues to grow and diversify, all the better.

2) I hope you hear good news on the CFA Level II. Passing all three levels will certainly be seen as an asset and along with a strong GMAT score should help mitigate your below average college GPA.

3) However, if you have not already done so, I would suggest you begin to develop some non-financial aspects of your story. Are you involved with any nonprofits or community groups? Do you have a particularly interesting family story that might show interesting or unique personal characteristics? Do you play any sports at an elite level? Do you have an entrepreneurial business on the side? Etc. Since you are only 22, you have some time to add some activities if need be.

4) Lastly - what are you passions and career aspirations? Without a clearly defined goal, it is hard for me to really understand WHY you want an MBA and HOW the degree will advance you towards meeting your goals.

As for the potential schools you mention, typically successful candidates to HBS demonstrate extraordinary leadership traits and a history of strong performance academically, professionally and via extracurricular outlets. On top of this, you must have thoughtful and personalized career goals. HBS is looking for future business leaders who want to change the world - you must clearly demonstrate a strong (top 5%) track record and then convince them of your future potential. The same is true for Wharton and Columbia, but sometimes candidates are just slightly weaker on one dimension (academics, professional story, extracurriculars, personal story) and yet are still successful.

Good luck,
Jennifer