Please Evaluate My Chances

[mjyovkovich]

-690 GMAT (41Q/42V/6.0W)
-4.0 GPA from the University of Illinois at Chicago (straight A's through all four years), Finance Major, May 2006 graduate
-8 months work experience as an accountant at a small company where I have a great deal of responsibility (i.e.. I am in charge of all the financial statements, cash flows, tax preparation, payables, receivables, quarterly reports, for a company set to do thirty million in revenue this year)


Is the combination of the low GMAT score and the lack of work experience enough to keep me out of the University of Chicago? I know I could wait a few years and get in easily, but my company is willing to pay for my schooling, so I'd like to begin as soon as possible. Any advice would help, thank you in advance.

[Amy]

Hi mjyovkovich,

A 690 is a very respectable score, and your GPA is strong. The mean for Chicago is not much higher, 703, and you are well within the 80% range for Chicago. If you think you could easily get to a 710 or higher and feel more confident, it wouldn't hurt to try, but I don't think your GMAT will be seen as a major weakness.

Your lack of work experience will need to be addressed, most Chicago students have at least three years. You will need to demonstrate significant maturity and leadership experience to mitigate the short time you have worked.

If your employer is willing to pay for it now, I think it's worth the risk to apply and see what happens.

Good luck!

Amy

[mjyovkovich]

Thank you so much for the prompt advice Amy. I feel that I will be able to display my maturity, both through the complex nature of the work I currently do, and through the fact that I funded my entire undergraduate degree on my own without taking out any loans. I got a job at the age of 16, worked full time through most of high school and college, and paid for my schooling in full with no help from my family. So technically, I have almost six years experience working full time, just not in the field of accounting. Thank you for relieving my worries about my GMAT score, I think I can do better, but it really depends on the math questions and what type they ask me, because I have varied from a 39 to a 50 on practice tests. If I apply and don't get accepted, will that hurt my chances of reapplying when/if I get a higher GMAT score later, or when I have more work experience? Thank you in advance.

Michael

[Amy]

Hi Michael,

If you do your best with the application this time, and are not admitted, it should not hurt your chances of reapplying at all.

Showing significant improvement between the applications is the crucial part of a reapplication, and more work experience and a higher GMAT would certainly fit that criteria.

Good luck!

Amy

[mjyovkovich]

I just contacted the University of Chicago and they let me know that any full time work experience is counted in regards to a person's average work experience. Because of this Amy, I now have 6 years of work experience, because I have been working full time (even though it was at an electronics retailer for 5 of those years) since I was 17. How much will this boost my chances of getting in compared to the previous analysis you gave me?

[Amy]

Hi Michael,

It's great to have worked through school because it does demonstrate maturity, but retail experience is not going to be a significant asset to your application. Six years of full time professional work experience is definitely more significant.

I do think it's worth applying if you feel you are ready now.

Good luck!

Amy

[mjyovkovich]

Thanks Amy... just wanted to let everyone know that an admissions adviser from University of Chicago told me that the average GMAT score of accepted applicants is a 680 and the average GPA is 3.4 and average work experience is 6 years. I had this person clarify that the score is for accepted applicants, not all applicants, and they assured me this is the average. Just thought I'd pass this on to all of you, seeing as how University of Chicago is a top 5 school. Perhaps average GMAT scores are dropping.