Should I retake the GMAT to go from 710 to 740?

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Last edited by MookieBlaylock on Tue Nov 22, 2016 9:04 am, edited 1 time in total.

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by mcbMcK » Wed Jun 15, 2016 10:55 pm
Consider the following points MookieBlaylock:
  1. The family business bit sounds pretty interesting and assuming you've had some good accomplishments to showcase. A minor issue could be the fractured experience which could slightly discount your total experience. Not a lot of skills you take from Equity Analyst to BD in mfg usually.
  2. Though your post-MBA plan looks good, the target schools you are contemplating may make going through the pains of another shot worth it. I would even go to the extent of saying consider R2 if need be! R1 is great, but never at the cost of a sub-optimal application.
  3. Bear in mind that acads/GMAT and work are not the only aspects in your candidature; more so when it comes to top schools. So hope there's sufficient richness in the profile other than those aspects too.
Hope this helps some.

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by CriticalSquareMBA » Sat Jun 18, 2016 6:39 am
Give this test everything you got. If you think you can do better, go for it. You'd hate to think back and kick yourself for not leaving everything on the table. Best of luck!
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by Edison@VeritasPrep » Sat Jun 18, 2016 6:43 pm
Thanks for sharing.

If you believe you can do better and get a 740, you should retake the GMAT as it can be the difference maker for your admissions or even scholarships. Carefully craft your application to show how your different experiences, including as an Equity Analyst can help you towards your post-MBA goal of taking over as CEO. It would also help to share the opportunities and challenges you see for the family business. Aligning with how these fit with the target school will strengthen your application.

WIsh you all the best!
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by Edison@VeritasPrep » Sat Jun 18, 2016 6:46 pm
You may also find our blog entry below helpful:

From the Family Business to Business School (and Back)

"You're going back to the family business?"

If you're planning to attend business school with the ultimate intent of working for your family's business, some of your friends will probably wonder why you would consider pursuing an MBA when they feel that a clear path has already been (very well) paved for you with the power, privilege, and prestige of your family's business handed to you on a silver platter. Some will envy you, some will resent you, and even more will wonder if you really need an MBA, while you yourself doubt how stating this post-MBA goal will affect your odds of admission.

Interestingly, articulating your personal story towards convince your friends of this decision may also be the same formula towards strengthening your case to getting admitted to your target schools. Let's examine three ways you can best explain to the Admissions Committee your plans to go from your family's business to business school, and back:

1) Win Admiration from Peers
Displaying your competence through your strong academic and job accomplishments, demonstrating your character through your work ethic and values, or showcasing how you have gotten involved with interesting and worthwhile activities will help show you as someone who can make it on their own. In turn, this display of independence - that you don't completely rely on your family to succeed - will work towards winning admiration and respect from your peers, and even your subordinates.

Imagine, sometime in the near future (perhaps your late 20's or early 30's), being introduced as the new General Manager of your family's business. Some whispers from your employees would surely be, "She's the daughter of the boss, that's why..." From your side, you would want them to also recognize how you have also excelled outside of the family business environment, whether it is at another company, or towards a specific social cause or interest. Similarly, explaining this desire to find your own success, independent of your family, will be a great way to explain your MBA aspirations to the Admissions Committee.

2) Acknowledge Your Good Fortune
In discussing your history in relation to your family's business, you would do well to be grateful for the circumstances you have been blessed with. This gratitude will serve as a good point to highlight the knowledge, exposure and network you are equipped with - attractive qualities that can benefit your future business school community, as well.

Mentioning specifics about your family's business to demonstrate its scale and potential impact not only shows your awareness and interest in the business, but also helps the Admissions Committee realize the impact you can make in the business world. Providing details on the products this company provides, or on its business model, will also help them visualize what you are involved with now, and how it can influence you as a future MBA.

3) Articulate Your Passion

Tell the Admissions Committee what you are excited to do after business school, such as leading the entry into a new market, launching a product line, building a distribution channel, or formulating new company plans. You can also share the challenges your family's business is currently facing - perhaps it is the need to modernize its systems and processes, or its struggle with the more personal aspects of succession planning or even family politics. Showing your focus and drive to achieve these specific post-MBA objectives - and explaining how attending business school will help you attain these goals - will further demonstrate your substance and maturity.

Relate these future plans and current challenges to your need for an MBA at your specific school of interest by identifying exactly what you aim to gain at their program and how you plan to bring it back to your family's business. Doing this will help convince the Admission Committee that you are the right fit for their program and deserving of a spot.
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