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Profile Evaluation-700,Pvt. Banker,Top US Schools,8 Yrs Exp.

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GMAT Score:700

Profile Evaluation-700,Pvt. Banker,Top US Schools,8 Yrs Exp.

by agoel » Sun Aug 29, 2010 9:07 am
Hi

I would like to have your feedback on my chances of making it to the top US Business Schools, especially those with a focus on Banking / Leadership & Strategy roles.

My profile is as follows:
"¢ Indian, Male, 30 years
"¢ GMAT - 700 (90%), Q-49 (86%), V-35 (73%)
"¢ Bachelor's GPA - Not clear. Got 67% marks (2000)
"¢ Post Graduation - MBA from a Top 10 Indian Business School, GPA 4.2 / 6.0 (2002)
"¢ CFA Level II Candidate, Cleared UK IMC examinations (required for UK Private Bankers)
"¢ Work experience - 8 years (as on July, 2010). UK, China & India
Current (2009 onwards): Private Banker (HSBC, India). Client Acquisition and Portfolio management
Previous (2005-2008): Private Banker (ICICI Bank, UK). Client Acquisition and Portfolio management
First Job (2002-2004): Export Manager (Apollo Tyres, China). Business development for export markets.
"¢ Leadership Roles:
Handled China export operations for a 5-member team (2003-04)
Set up Private Banking office for ICICI in UK (2006)
"¢ Extra curricular activities: Involved as a volunteer with a charitable medical dispensary
"¢ Target B-Schools: Top 10 US B Schools, with focus on Banking / Strategy & Leadership careers. LBS, Insead
"¢ Career Progression post-MBA:
Banking & Finance: Private Banking, Private Equity, Investment Banking, Trading
Leadership / Strategy Roles

I need your guidance on the following aspects:

1. I was getting a score of 730+ during my GMAT preparations. If I believe that I can get 730+ on a 2nd attempt, should I retake GMAT, or is a score of 700 good enough?
2. Do B-schools look at a candidate's latest score / best score?
3. Which B Schools should I target with my current profile and expected career progression post-MBA? Are HBS/Wharton/Stanford out of scope completely?
4. Any positives / negatives associated with 2nd MBA, 8 year work-ex?

Any other top global school that is worth considering as per my profile?

Please let me know, if you need any more information. Any suggestions and comments are welcome. Thanks in advance for your inputs!

Best regards
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by Tani » Tue Aug 31, 2010 8:29 am
Hello,

1. If you are confident of at least a 730, a second test would be a good idea, but be aware that most people at your level see their scores drop when repeating the test. You would need to have a clear reason for your anticipated improvement. Have you identified consistent errors that you can correct? The top schools certainly accept many people with 700 GMATs, so your current score is no barrier.

2. Schools will see all scores for tests taken within the last five years. Most schools work with the higher score, if only because that is the score they want to report and their reporting impacts their rank. However, more than two attempts sends a signal that you are concentrating on the wrong part of your application.

3. HBS, Wharton and Stanford are extremely competitive. They accept a very small portion form extremely strong candidate pools. Your stats are certainly in line with those who should be applying. However, I always caution my applicants that no one is guaranteed admission to those schools, no matter how strong the credentials simply because those schools have several times as many great candidates as they can accept. If you are determined to go right away, you should expand your target list.

4. This is the big one. I have found that is it extremely difficult for anyone seeking a second MBA to be accepted to a top school. They will be very suspicious of your motives and wonder if you are what we call a "professional student": someone who would rather go to school than work. They will be particularly concerned given that your MBA is from a top ten school in your country. You will have a tough time convincing them that you need another MBA. If there are specific skills you need at this point in your career that your first degree didn't provide, they might see you as a better candidate for one of the mid-management programs such as Harvard's PMD. Your eight years' work experience will also suggest that a middle management program would make more sense. In other words, it is not impossible, but highly unlikely that a top ten school will feel that accepting someone who already has a strong MBA degree is a wise use of their limited resource - space in the class.
Tani Wolff
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