Should I retake the GMAT?

[GMAThelp77]

I have taken the GMAT three times last year (1st time: 570 Q-42/ V-27/AWA 5.0, 2nd time: 530 Q-41/V-23/AWA 4.5, 3rd time: 600 Q-44/V-28/AWA 5.0). My goal was to get a score in the upper 600s. I have taken a GMAT prep class and I have studied on my own after the class before taking these. I am debating whether or not to retake it again because I am still not satisfied with a 600. However, I also do not feel that confident that I will be able to make a significant improvement. Even if I improve on my 4th attempt, I don't think my score will be higher than a 640. My average of the practice tests that I have taken is around 640. I am planning to apply for Fall 2010 and I would like to get my applications in by the 1st round for most of the schools that I am considering. At this point, is it worth my time and effort to retake this? Will improving another 20-30 points (if I do) make a significant difference on my acceptance to top schools? Or should I give up and just focus on making sure that the rest of my application is good? Also, if I retake it again and I happened to do worse than my 3rd attempt, would this be looked upon negatively?

The schools that I am considering are: Georgetown, NYU, Cornell, Columbia, Duke, University of Rochester, and Boston University. I am mainly only considering the full-time programs. Ideally, I would like to get into a top 20 program.

Just to give more of my background, I graduated from a top liberal arts college with a 3.35 GPA as a science major. I am an Asian American female and I am working as a financial analyst in the healthcare industry. I have about 5 years of work experience (which includes a promotion and transferring positions) and I am also doing some extracurricular activities. I have also taken accounting and calculus courses after college, which I have done well in.

Thank you in advance.

[Lisa Anderson]

Dear GMAThelp77,

An additional 20-30 points would make a difference, but it is hard to know how much. Either way, your GMAT is below average for your target schools. If you do not feel you will do better, then it might not be worth your resources to try to take the GMAT again. I do not think a fourth attempt, regardless of the score, will affect you negatively with your target list of schools.

You need to weigh your time as you don't want to sacrifice the quality of the rest of your application for a fourth attempt. Your essays, recommendations, and interviews are critical to the ultimate decision as these components give you another chance to shine. In essence, you need to make your case for a seat in the class and distinguish yourself from applicants with similar backgrounds. Be sure to convey your successful leadership and teamwork experiences in your essays as well as a solid rationale for getting your MBA in relation to your past experiences and future career goals.

Best of luck,
Lisa