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Retake GMAT vs Round 3

Figure out where you wish to apply
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by swalter » Sun Dec 28, 2014 2:27 pm
Hi Guys,

Today I took my GMAT and was devastated by my 650 score (Q: 44, V: 36). I wanted to apply to HBS, Wharton, LBS and INSEAD, but all of the schools are clearly at risk now. Given I do not have enough time to retake and still apply for Round 2, I was considering Round 3. Could please anyone advice me, whether to go for Round 2 or 3?

Some background information about myself:
Working experience: 2 yrs top tier US Ibank and 2yrs Private Equity in Europe.
Two really strong recommendations: Managing Director from ML and Managing Partner from PE shop (ex HBS)
I do not have a work permit for the US - some Schools might see me at risk of getting a permit.
I studied Economics and was Tutor at University for Math - I just feel my low Quant does me no justice. In Mocks, I normally scored 700+ with Q:49-50.

Thanks for any thoughts!
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by fermar84 » Tue Dec 30, 2014 6:53 am
Hi swalter, I am facing the same problem right now but with different b-schools. I talked with some adcom from those schools and they told me that I could apply with my current GMAT score for R2 (around Jan 12th) and retake the GMAT anytime during January, at the end of the month, and they will take the latest score into consideration. It gave me the impression that the GMAT was used mainly for scholarships since my profile is somehow strong (My GPA 3.5, work exp 7 yrs in Telecom, 30 yrs old and the fact that I am from Colombia).

I really do not know if it is advisable or not but I am going to do it. My schools are Rotman and McGill.

Hope it helps,
Fernando
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by Vincent Ho-Tin-Noe » Tue Dec 30, 2014 7:29 pm
Fernando's advice is really good. However, it is only valid for certain programs. Many (especially in the US) will not necessarily accept a GMAT score update 1 month after the application deadline. You should check with each program individually.

Note: for LBS and Insead (Jan 16 intake) you should be able to apply before their last deadline. So no stress there if you register for a re-take now..

Swalter, with your profile (ibanking and PE), applying in round 3 to US programs might be quite risky. Spots might be already gone.

The student Visa should be no problem, even though many schools will try to deter you from applying in round 3 because of Visa concerns.
It will be stressful, but if you get into a top MBA program, it should not be a problem. I was a round 3 admit at HBS and everything went extremely fast.
Take this with a grain of salt obviously, since this is highly dependent on when you apply and what country you are from...

How would you feel about applying in round 1? It would probably be a much safer bet, at least for US programs (again, limited concerns for Insead and LBS at this point)...

Good luck !
Vincent Ho-Tin-Noe (HBS '13)
CEO and co-founder
MBA Admissions Advisors LLC
www.mbaadmissionsadvisors.com

Get an immediate assessment of your odds at top MBA programs, try our algorithm for free: https://www.mbaadmissionsadvisors.com/mb ... algorithm/
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