Hi kcw984,
I think you have a challenging road ahead for the schools that you listed. There are a few weaknesses that you will need to address to be competitive. First, your work experience is lacking. Not only do you have a chunk of time without a job after undergrad, but, you were also laid-off so your work history won't show the time or progression that an adcom would like to see. The best way to mitigate this is with phenomenal recommendations, but, this could also be more difficult because you haven't worked with the same superiors for a long time, etc.
Where did you go for undergrad? You said "top 20" but didn't list one. The GPA should be fine. I wouldn't worry about your econ GPA very much, but, when combined with a sub-80% GMAT, it could be helpful to take a few courses (stats, corp fin) to show that you have the raw brain power to handle rigorous quantitative courses.
I agree that you need to have strong ECs or something interesting in your profile to make you stand out. It sounds like you are working on this and I would continue (look for ongoing experiences, not one-day volunteer opportunities). Try to show progression in anything you do (eventually having a leadership role). Also, much of this is a matter of how your frame it - I'm sure you've done SOMETHING with your time in the last 7 years. What do you do in your free time? Are you an avid skiier or world traveller? Do you mentor anyone or are you a great chef? There might be an interest that you could expand upon.
And, remember, you have slightly less experience than the average applicant but you are still young - perhaps consider waiting one more year before going back to school. This would improve your candidacy (more experience, more ECs, better recommendations, perhaps a few quant grades, etc.).
As for re-taking the GMAT, you could, but, unless you feel like you really blanked on the quant section, it is unlikely that the score will change significantly enough to make retaking it worthwhile. I'd focus on other elements.
And, as a Booth graduate, out of all the schools on your list, I think it might be your best shot - if you want to go into finance and get very thorough quant/i-banking preparation, it would be a good call!
Hope that helps!
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Jessica@VeritasPrep
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Jessica
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Hi Jessica,
Thanks so much for your response. After reading your response and doing some additional research, I am definitely beginning to consider waiting an additional year to further strengthen my profile. That said, is there any downside to applying to a few schools this year? Would getting rejected this year hurt my chances next year?
Thanks again.
Best,
Kcw984
Thanks so much for your response. After reading your response and doing some additional research, I am definitely beginning to consider waiting an additional year to further strengthen my profile. That said, is there any downside to applying to a few schools this year? Would getting rejected this year hurt my chances next year?
Thanks again.
Best,
Kcw984
Last edited by kcw984 on Sat May 22, 2010 5:29 pm, edited 1 time in total.
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Jessica@VeritasPrep
- MBA Admissions Consultant
- Posts: 247
- Location: Houston
- Thanked: 52 times
- GMAT Score:740
I wouldn't get too worried about the 80% mark (or the 80% rule which is a different thing - it refers to 80% of applicants being within a school's stated GMAT range). The GMAT is only one data point. It is used by schools as one indicator of whether or not you can handle rigorous coursework. A 730 should be high enough to do this and Oberlin is a well respected school. So, the concern about a slightly lower quant percentage was only because you had mentioned it. I wouldn't be overly concerned.
However, as you look at schools, I do think that the 80% rule holds true (80% of applicants will be within a stated range). The good thing for you is that 730 will be in this range for all schools!
Okay, now to address your question - I think it would be fine to apply to a few schools this year and see what happens. The only thing that you need to keep in mind is having a consistent message. You don't want to apply to a school one year with essays that talk about your desire to be an investment banker and then apply the next year saying that you want to be an entrepreneur. Generally, an admissions committee will say (and it is generally true) that your application will be looked at "blind" the next year, but, if you've made an impact (good or bad) then the admissions committee may remember how you presented yourself in the past and you'll want to present yourself as the same (albeit improved and with more experience) the following year (assuming you are waitlisted or denied for the coming cycle).
I hope this helps!
However, as you look at schools, I do think that the 80% rule holds true (80% of applicants will be within a stated range). The good thing for you is that 730 will be in this range for all schools!
Okay, now to address your question - I think it would be fine to apply to a few schools this year and see what happens. The only thing that you need to keep in mind is having a consistent message. You don't want to apply to a school one year with essays that talk about your desire to be an investment banker and then apply the next year saying that you want to be an entrepreneur. Generally, an admissions committee will say (and it is generally true) that your application will be looked at "blind" the next year, but, if you've made an impact (good or bad) then the admissions committee may remember how you presented yourself in the past and you'll want to present yourself as the same (albeit improved and with more experience) the following year (assuming you are waitlisted or denied for the coming cycle).
I hope this helps!
Jessica
MBA Admissions Consultant
Veritas Prep
Enroll now. Pay later. Take advantage of Veritas Prep's flexible payment plan options
MBA Admissions Consultant
Veritas Prep
Enroll now. Pay later. Take advantage of Veritas Prep's flexible payment plan options
