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Profile Evaluation - Any help would be appreciated :D

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Junior | Next Rank: 30 Posts
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Hi Guys,

GMAT: 700
Quant - 47
Verbal - 39

GPA: This is where i am a little confused. I did my undergrad in australia and i dont know how GPA's are compared. The scale is australia is on 7. My gpa was about 5.6/7.
Experience: 2.5 years - Wealth Management - Team of 2 with $ 40 Million under management & $200 Million under advice. Promoted Twice.
Extracurricular: Tennis Coach - Not even sure if this helps but anyways


What i want to do: I cant seem to find a school ranking based on majors. Can anyone help. i want to pursue a career in either 1) Private Equity & Real Estate or 2) Luxury Product Management.


Recommendations: are personal references of any help if the person is very high up in the corporate ladder?

Thanks

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by Anurag@Gurome » Fri Sep 03, 2010 8:51 am
Nice background. Like the Australian degree, especially. I would not worry about conversion - most schools do that automatically. 5.6/7 is good but not great. Your GMAT helps a bit. What really helps is your experience. Where is this experience - the U.S. or Australia?

Look for rankings on finance programs and marketing. I am intrigued by your second focus area - luxury product management. Consider NY and LA programs. Also think of European programs - French and Italian ones especially. And yes, personal references can help, in some cases.

Hope that high level advice was useful.
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by mba1986 » Fri Sep 03, 2010 10:15 pm
Hi Anurag,

Hi Anurag,

Thanks a ton for the honest response. I guess a little more background will help with the evaluation so here goes.

Undergrad: University of Queensland, Australia - Top 5 College in Australia - GPA 5.6
After which i got a contract job with American Express in the credit card risk analysis division in Australia. I didn't really fancy that and 2 months later got an opportunity in India with a smaller firm but where I saw growth potential in an area of interest. It's a boutique private wealth management company that deals with SHNI's, basically actors, cricketers & corporate heads. From 3 offices in 2007, we now have 8 offices and recently opened an international office in London.

Other Interests:
Learning Spanish & German.
International Tennis Coach Certification

A few other questions:
1) Someone told me schools basically divide applicants into above 700 and 700 and below. Is there any truth to that?
2) I was looking at the following schools: do I stand a chance
- Georgetown
- Olin
- Emory - Guizueta
- NYU
- Boston College

Thanks a ton

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by Tani » Sat Sep 04, 2010 9:48 am
Hi,

You certainly stand a chance at the schools on your list. NYU will, of course, be the toughest, but you are not out of range even there. I live in St. Louis and am very familiar with Washington University. You would be a very strong candidate there. Your Australian background will be helpful. Schools are naturally and appropriately looking for diversity. Your job should also help. Although there are lots of people in the finance industry, your particular background in working with actors and cricketers gives you a somewhat different profile than your competition.

Tennis won't hurt. Schools look for active people who are involved outside the office. Given your already international background, your interest in learning other languages will add to your appeal.

Personal references are very important, but the key is to use people who can talk intelligently and from personal experience about your ability and potential. The CEO who is a friend of your father's second cousin is a lot less helpful than an intelligent local manager who can discuss your work. Remember, the purpose is to evaluate who you are and what you can do, not who you know. Of course, you need to use someone with sufficient experience and knowledge to evaluate you accurately, which implies a certain level of corporate experience. Most schools will ask for your immediate supervisor and some will want an explanation if you do not use that individual.

There are a couple of intriguing programs in luxury product management including ESSEC outside Paris and IUM in Monte Carlo. Although they are not as well known in the US as the US schools you list, they are well-connected in the luxury products industry. ESSEC ranks in the top ten among European schools with both FT and Business Week.

As for a firm 700 split, the top schools are far more sophisticated than that. In fact, schools such as Harvard are far more likely to look at and accept an unusually low GMAT if the staff believes there is promise and that the applicant can contribute meaningfully to the class. They also are aware that it takes 30-40 points to register a statistically significant difference in scores.

Your task will be to tell your story as clearly and persuasively as possible, stressing what you can bring to the process and how you can build on the education the school will provide. A seasoned admissions consultant can be a great help in crafting essays that will speak to the admissions committee.

Good luck,
Tani Wolff

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by Anurag@Gurome » Mon Sep 06, 2010 1:17 pm
Tani is right about the GMAT score split - schools know better than to spli applicants into 700-havesa nd 700-have nots.

Also, I can see why you are looking at the MBA programs that focus on luxury product management - does your experience in India have something to do with that? I am curious about that experience.

I think you stand a chance in all the programs you mentioned and the ones Tani listed. Challenge for you is to identify the ones that fit your specific goals and geographical constraints best. (If you are thinking of a career in New York, then a program in Singapore may not be as valuable, for example.) Do think of Europe seriously though, if you are open to building your career there.
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by mba1986 » Mon Sep 13, 2010 9:41 pm
Hi Tani,

Thanks a ton for taking soo much time and effort in reviewing my profile. I found the information extremely helpful and i think i am well on my way to getting a fab education. I have been talking to a few friends and current students at some of the universities and a lot of them recommend not focusing on only luxury products but rather get an mba in media and entertainment with luxury product management as one of the specializations. Now if this is the case i am again slightly lost when it comes to college selection. I know NYU is brilliant for it but i'd definitely want a couple of safe schools. Any suggestions? Also when it comes to European schools the general consensus is the downturn in the European economy and all of that, so that has got me a little apprehensive. Any thoughts would be immensely appreciated.

Thanks
Arjun

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by mba1986 » Mon Sep 13, 2010 10:23 pm
Hi Anurag,

Good to know admission committees are a little more ingenious than that. I don't think my experience directly deals with the industry but a lot of my clients are in the business. We normally value their businesses and also advice on the finance side of opportunities that they are looking at when growing their brand. The firm i work with is definitely in the luxury segment in the finance industry so i guess dealing with the clientele is similar. To be honest a big reason why i took up the job was so that later on in life i would have very few questions when it came to my own personal finances. I think i have learnt a lot and now its time to follow my dreams. I guess maybe its a good idea to start off with a broader major and then see where that takes me. With regards to Europe, i would definitely be open to building a career there, but like i said just not convinced its the right time to enter the economy. Any thoughts?

Thanks
Arjun