Need specific advice for my specific situation! :)

[S2KI]

Hello,

First off, I'd like to thank the members and experts on this site. I have been a "lurker" for a while and absorbing good advice regarding the GMAT and Bschool. I now request advice on my specific situation. Once I'm through with this whole process...I'll contribute my $0.02 every once in a while as repayment.

Undergrad: School of Management at Boston University
Major: Finance
GPA 3.0

Work Experience:
-2 yrs equity research
-3 yrs m&a
-2 yrs F500 corpfin

So I just took the GMAT (after cramming for 2 months) and got a lowly 620. This put me just outside the lower 80% mean of accepted students of my west coast choices: Marshall, Haas and Anderson.

SHOULD I:

1) Apply for 2nd/middle round anyways? - I think my work experience is strong, decent undergrad program with slighly below average GPA, great recommendations, BUT with a crappy GMAT?

2) Wait until LAST round? - I know I can improve my GMAT score if I took a class and spent more time studying. If I can take the exam again before the LAST ROUND (even if I achieve around 700, the competitive will be SUPER tough this year) should I take this option? :

If 1 or 2) If I get denied from either of these options, how good will my chances be if I reapply next year? I have the option of staying at my company so nothing will change in terms of my work experience (or nothing much else for that matter. ). Do I seriously hurt my chances if I reapply?

3) OR, should I wait until next year? - That would give me plenty of time to study for the GMATs and retake. I guess I don't mind staying at my company for another year (sigh.. ). Or is it worth taking the risk of applying now, even though I might screw myself next year?

Any basic recommendations from members would be greatly appreciated. If the "Experts" want to post a generalized response to my options, and take the expert coaching offline, that's perfectly fine with me.

Let me know ASAP! Next deadlines are just around the corner...

[wonda123]

You could get into BU or BC with those stats TODAY, so apply R2 if that's an option..

If you've got your heart set on those 3 left coast schools - you prob want to get your gmat up to 680+ range and then APPLY EARLY to GUARANTEE you'll get into one of those. If I were you, I'd try to take gmat again asap and see if you can raise your score and submit for R2 or R3 (usc is late, for example)... if you don't - take a few months to do a prep course and really focus, nail it a 3rd time and then spend the summer padding your resume with a college course or something (to offset your low GPA) and then apply next fall.

That's just my .02... I'm still waiting to hear from Marshall with my 3.7gpa/620 gmat and I'm 99% sure I'm getting dinged. I wish I had taken more time to get my score up before applying. That said, I did get in to those boston schools...

**Oh, and I don't think that getting dinged and then re-applying would hurt you. I honestly think it can improve your chances (so long as you do something to address your weaknesses) because it shows that you're serious and committed to their program - which is half the battle. I would go for it this year and then just try again if you dont get there -- it'll just be that much easier and more convincing the 2nd time around..

[Linda Abraham]

Hello,

First off, I'd like to thank the members and experts on this site. I have been a "lurker" for a while and absorbing good advice regarding the GMAT and Bschool. I now request advice on my specific situation. Once I'm through with this whole process...I'll contribute my $0.02 every once in a while as repayment.

Undergrad: School of Management at Boston University
Major: Finance
GPA 3.0

Work Experience:
-2 yrs equity research
-3 yrs m&a
-2 yrs F500 corpfin

So I just took the GMAT (after cramming for 2 months) and got a lowly 620. This put me just outside the lower 80% mean of accepted students of my west coast choices: Marshall, Haas and Anderson.

SHOULD I:

1) Apply for 2nd/middle round anyways? - I think my work experience is strong, decent undergrad program with slighly above average GPA, good recommendations, BUT with a crappy GMAT?

2) Wait until LAST round? - I know I can improve my GMAT score if I took a class and spent more time studying. If I can take the exam again before the LAST ROUND (even if I achieve around 700, the competitive will be SUPER tough this year) should I take this option? :

If 1 or 2) If I get denied from either of these options, how good will my chances be if I reapply next year? I have the option of staying at my company so nothing will change in terms of my work experience (or nothing much else for that matter. ). Do I seriously hurt my chances if I reapply?

3) OR, should I wait until next year? - That would give me plenty of time to study for the GMATs and retake. I guess I don't mind staying at my company for another year (sigh.. ). Or is it worth taking the risk of applying now, even though I might screw myself next year?

Any basic recommendations from members would be greatly appreciated. If the "Experts" want to post a generalized response to my options, and take the expert coaching offline, that's perfectly fine with me.

Let me know ASAP! Next deadlines are just around the corner...

This is the 3rd time I am trying to reply. I keep hitting something that zaps my response.

OK. Here goes.
I don't like option 1 at all. I think your chances are very poor with your current GMAT, given your GPA and intense competition from finance this year. Under represented minority status may mellow my opinion somewhat.

I suggest you try to apply R3. If your prep doesn't go well, just postpone until next year. I also suggest that you take a couple of classes spring and summer quarter because your GPA is also a little low for these schools. The combo of low GPA and GMAT and coming from a competitive subgroup doesn't bode well for your application.

Applicants get accepted R3 and applicants get accepted when reapplying R1 after being rejected R3. The key is the quality of your application not the timing of your submission.

Here are a few articles that might help you.

* Older MBA Applicants
* Low Stats

Best,
Linda

[S2KI]

Thanks Linda for your feedback!

Would anyone else like to contribute their advice? Ideally I'd like a range of opinions before I make my final decision...thanks!

[Zipper]

If I were you I would definitely wait until next year.

If you feel you have VERY strong essays or that you are a very good fit for the programs (and you can prove that) you should apply R2.

However with below average GPA and low GMAT I think you could easily get dinged for low academic ability. If you fix these things for next year you will almost certainly get accepted in one of your schools of choice.

[S2KI]

I suggest you try to apply R3. If your prep doesn't go well, just postpone until next year. I also suggest that you take a couple of classes spring and summer quarter because your GPA is also a little low for these schools. The combo of low GPA and GMAT and coming from a competitive subgroup doesn't bode well for your application.

Applicants get accepted R3 and applicants get accepted when reapplying R1 after being rejected R3. The key is the quality of your application not the timing of your submission.

Best,
Linda

Linda, I wanted to follow up on this portion of your response:

Let's say I retake the GMAT in the next few months and score well enough to considered for R3. If I apply and get dinged...how badly does this hurt my chances for reapplication next year?

Am I better off holding out and waiting until 1st round next year? My main concern is that from R3 this year, to R1 next year, I will not add anything significant to my applicant profile (except maybe if I retake the GMAT again during the summer??)

Thoughts anyone? Thanks!!!

[Linda Abraham]

I suggest you try to apply R3. If your prep doesn't go well, just postpone until next year. I also suggest that you take a couple of classes spring and summer quarter because your GPA is also a little low for these schools. The combo of low GPA and GMAT and coming from a competitive subgroup doesn't bode well for your application.

Applicants get accepted R3 and applicants get accepted when reapplying R1 after being rejected R3. The key is the quality of your application not the timing of your submission.

Best,
Linda

Linda, I wanted to follow up on this portion of your response:

Let's say I retake the GMAT in the next few months and score well enough to considered for R3. If I apply and get dinged...how badly does this hurt my chances for reapplication next year?

Am I better off holding out and waiting until 1st round next year? My main concern is that from R3 this year, to R1 next year, I will not add anything significant to my applicant profile (except maybe if I retake the GMAT again during the summer??)

Thoughts anyone? Thanks!!!

Good question, and I could go either way on it. If you were younger, I would definitely say wait until R1 of next year. However, you aren't. My first choice would be for you to wait until R1 of next year. You can improve your GMAT, take the courses I suggested, and perhaps improve your application in other ways (visit schools so that you can better answer why this school, perhaps take on a leadership role in a community service commitment.) In other words, I see you using the next 8 months to improve your profile even if your job responsibilities don't change significantly.

However, given your level of experience, I suggest you proceed to prepare for and retake the GMAT in anticipation of a R3 application. If your GMAT becomes competitive, you apply R3. After you submit, you also immediately start taking the other steps I outlined so that you can show improvement in your profile if you are rejected and need to reapply R1 of next fall. If your GMAT prep doesn't go well, you retake later/again and apply R1 next year.

Best,
Linda

[yikes]

Hi There,

I came across your post and I am in a similar situation, but I work in healthcare/lifescience consulting instead.

GPA around 3.0, GMAT score 620.

Given the competitiveness of this year and speaking to current students at schools I am interested in and those that help out at the admissions office, I decided to apply in R1 in the fall, even though I'm probably the same age as you are. I am looking at top 10 schools. My main consideration for not applying in R3 is b/c most scholarships are given out by then.

Best of luck with your applications. Hope this helps.