gmat

[EricUT03]

Hi Stacey/Lisa,

I have an undergraduate business degree with a major in finance and minor in accounting. I had a 3.32 overall and a 3.77 in my finance courses. I just took the gmat and got a 660 (43 in quant, 38 in verbal). I work in finance/accounting for a large company and did 2 internships with them before I graduated. I have been working full time for them for 15 months now and really want to get into a top 10 school.

My first question - I would like to apply to start grad school in the fall of 2010, at which time ill have 2.5 years of work experience (3 years if internships are included). Would I have better chances if I waited a year or 2 and built up more experience? Would it be worth my time to even try to apply for a top 10 school for 2010 or do I not meet the criteria yet? Should I retake the GMAT? I also should have good recommendations and was very involved during my undergrad, and volunteer in the community, etc. Thanks.

[Lisa Anderson]

Dear EricUT03,

Would I have better chances if I waited a year or 2 and built up more experience?
Perhaps, but not necessarily. If it is 2 years of quality experience where you will advance in your career gaining depth in your field, then it might be worth it. Working for another year or two just so you can apply with 4 years versus 2 years with no progression in your career will definitely not help you. I think you need to decide when you are ready both mentally and in your career path.

Would it be worth my time to even try to apply for a top 10 school for 2010 or do I not meet the criteria yet?
With a 660 GMAT, 3.32 GPA and 2 years of work experience, I think a top 10 is quite a reach for you. Your GMAT is 40+ points below the schools' average GMAT scores, so you would need to have exceptional work experience in 2 years plus outstanding essays, recommendations and interviews.

Should I retake the GMAT?
Perhaps--it depends on what your target schools are and their GMAT averages. Ideally, you want to be at or above the average to be in the best competitive position. If your score is below the average, but within the mid 50% range, then you are still within range for the school.

Good luck,
Lisa