Average profile? Shot at top 5? Top 10?

[antec0721]

Hi,

I am wondering if I have a solid chance at a top 5 business school with my profile. If not the top 5, then what about the top 10?

- Education: Bachelors (GPA: 3.77) and Masters (GPA: 3.91) in accounting from University of Illinois in Urbana Champaign. I know that it isn't an Ivy League, but it is ranked well for my major, which was accounting. Would this be a positive factor at all or is generally not considered? Also would already having a masters degree in a business discipline help/hurt me? I was a high school valedictorian, which I'm not sure if it's even worth mentioning?
- Certifications: I am a Certified Public Accountant, Certified Management Accountant, and Certified Internal Auditor. I obtained them as it helped me for each job I was in.
- GMAT: 690 (47Q, 38V). I know my GMAT score isn't that great, and I know that colleges consider all factors in one's profile, but would this seriously hinder my application at a top school (meaning that the rest of my application has to be pristine)? I am thinking about retaking it, but it depends on how much it would impact my chances at a top school.
- Work Experience: I have 4 years out of college. I worked in audit at a big four accounting firm for 2 years, working mainly in the technology sector, and I assisted with several IPOs. I spent the next 3 years as an internal auditor at a very hot newly IPO'd technology company, where I played a key role in the company's first year SOX compliance efforts, laying the foundation for future compliance. In my work in SOX/Internal audit, I worked directly with all levels at the company from analysts to VPs to recommend improvements in business processes, so that we can maintain compliance with laws, gain operational efficiencies, etc.
- Extracurricular: In college, I held several leadership positions in organizations, including technology chair and webmaster at Beta Alpha Psi (Finance Honor Society), communications chair for a minority business students organization. Once I started work, I have been volunteering for a volunteering organization for the past 2 years, and was director of finance for the local alumni association.

Thank you for your feedback!

[Lisa Anderson]

Dear antec0721,

Perhaps and possibly you have a shot a top 10. Without seeing all your information in detail, it is really hard to comment. Based on what you posted, you have the GPA and GMAT to be a competitive applicant for a top 10 program. Your high school achievement does not really matter for business school--not that it isn't commendable though. Likewise, already having a master's degree does not really help or hurt--it is simply another data point demonstrating your academic ability and grasp of that material. Depending on the schools you are targeting, your GMAT might be fine or you might consider taking it again IF you only took it once and feel you could increase it by at least 20 points. Your 690 is a great score--you should feel good about it! The rest of your application is also critical and valuable--plus it is in your control. So, a strong set of essays and recommendations, as well as some great interviews, and you have a good chance. The only potential weakness might be your extracurricular activities since college, but I don't know enough about what you have done since to say for sure. Finally, I highly encourage any applicant, no matter the profile, to always have some reasonable and safety schools in the mix. Top 10 schools are reach schools for everyone and there are no guarantees.

Best of luck,
Lisa

[antec0721]

Hi Lisa,

Another thing that I am considering right now, prior to applying for business school is joining the Peace Corps, which is a 2 year commitment of serving in another country as a volunteer. Although it is something that I would really like to do, I don't know if serving would hurt my chances, since I would not be working in a professional setting for the next two years. I know that people normally join the Peace Corps prior to starting a regular career, and I would be taking a bit of an untraditional path of working first, then joining the Peace Corps, then going back to work. Could you comment how schools would be likely to view this? I am guessing that employers may potentially view this as negative as well? Thanks again!

[Jessica@VeritasPrep]

Dear Antec0721,

I am not Lisa, but, I wanted to reply to your Peace Corps question. First, I agree with everything Lisa said in her first reply - you sound like a strong candidate. Personally, I believe that Peace Corps experience would only make you stronger. While it may not seem obvious to you right now, there are many skills that you would acquire in the Peace Corps that are exactly what business schools (and future employers) want to see. Not only will you gain "managerial" skills and experience working with a diverse group of people (teamwork skills, etc.), but, you will also show a compassionate and socially responsible midset which is increasingly important in the business world.

And, most importantly, if this is something that is in your heart, you should absolutely pursue it. You only live once and I tend to believe that 2 years in the Peace Corps will be an experience that you will never regret (and I also believe it will help you professionally!).

Best of luck with your decision. But, please do not pass up 2 years of volunteer experience for the (likely false) assumption that it could somehow hurt your application or work prospects!!

[Lisa Anderson]

Dear antec0721,

Actually, most business schools and employers view Peace Corps, as well as other volunteer programs (i.e., Teach for America, Americorps, etc.), with high regard due to the highly competitive selection process and skills you gain. I concur with Jessica that you will gain tremendously from the Peace Corps in many ways and develop both personally and professionally. Consequently, some business schools even waive application fees for Peace Corps and/or Teach for America members. If you truly want to pursue the Peach Corps before business school, then you should.

Best of luck,
Lisa

[antec0721]

Hi Lisa,

I have retaken the GMAT and improved my score from 690 to 750. The last time I asked about my chances for the top 5/10, you seemed to indicate that my chances were probably so so, saying that extra-curricular activities were where I was falling short (I agree that this might be a weakness, possibly along with my work experience?). Does the improvement of my score to a 750 improve my chances significantly, or will it still be a long shot given my other data points? I am hoping to apply to the top programs, such as Harvard, Stanford, UPenn, along with some others in the top 10. Thanks!

[Lisa Anderson]

Wow--congratulations on your new score!! That type of an increase at the high end of the range is quite an achievement. Way to go, antec0721! I would say that certainly makes you highly attractive to many schools when combined with your academic transcripts and work experience. While I would never go so far as to say you are "guaranteed" admission at any school, I would think you would be given a thorough review. Depending on how strong your essays and recommendations are, as well as your subsequent interview, your ultimate decision still might be affected by the lack of extracurriculars since college. However, there is quite a bit of variance on how much importance is placed on extracurriculars as well as schools that weigh your line of work against time available. Of course, if you pursue the Peace Corps or some similar organization, then that will help to fill in that gap. Bottom line: you should certainly apply to any school you feel is a good match for you, but still be prudent in having at least one reasonable and one safety option in the mix (perhaps as R2 applications).

Best of luck,
Lisa