Should I retake the GMAT??

[ClaudioChileno]

Hello
I took the gmat and I got a 690 (47m, 38v, 5.5w). I previously took the GMAT got a 640 and 620. I really improved my verbal score.
I went to Vanderbilt University studied Mathematics and Economics and had a GPA of 3.55.
I am from Chile and I want to apply to Chicago Booth or London Business School to enter Fall2010.
I will have 6 years of work experience by the time I enter Bschool, and I have worked in finance in New York for a major bank and in Seoul for a brokerage firm.

Could anyone tell me whether I should retake the GMAT or not?

Thank YOu

[Graham]

Dear ClaudioChileno,

Thanks for your post!

While your GMAT is a bit below average for your target schools, I'm not sure I'd race out and take it again. Here's why:

1) While a 690 is below average for LBS and Chicago Booth, the good news is that your score is actually fairly well balanced - as it sounds like you've hit the 80th percentile (or better) in each section of the test.

2) Your undergraduate GPA (the other key academic metric besides the GMAT) is nicely in line with the average at your target schools. You also pursued a quantitative and 'MBA-relevant' course of study, which helps a bit further.

3) My sense is that you likely fall into an under-represented group as a Chilean national who has studied in the US and worked in both New York and Seoul (even though the finance work you've done sounds like it could be relatively common in the pool).

4) You've already taken the test three times with results of 620, 640 and 690. This suggests that any further improvement might be somewhat limited.

5) Taking the GMAT a fourth time could begin to send mixed signals to the adcom about the focus you've placed on the exam vs. the other elements of your application.

Conclusion
While I'd ideally need to know more about your personal background, career goals and XCs, my initial sense is that you may not need to retake the exam. Clearly, having a 720+ would be wonderful, but I'm just not convinced you'll need it.

Feel free to send your CV/resume to [email protected] if you would like to have a free initial chat about your candidacy. We offer a free 30-minute session with anyone who contacts us.

Best of luck,

Graham