GMAT score and MBA IB Recruiting

[kcw984]

Hi,

I'd be interested to get some opinions on the following comment posted on the Businessweek B-School Forum:

There are many forum members here who have commented that IB and MC are looking for 700+ GMAT AND 80%+ Quant score.

Is there any validity to this? I ask because I had a 720+ score, but scored at the 74th percentile on the quant. Up until this point, I had been under the impression that while adcoms closely scrutinize the Q/V split as well as the overall score, recruiters (IB or otherwise) only looked at the overall score.

Thanks,
kcw984

[Way Lum]

Hi Kcw984,

While schools almost universally use GMAT scores as part of their admissions criteria, your score will not be a common criteria when investment banks are evaluating you as a candidate for summer associate position. Of course i-banks will want to make sure you possess strong quantitative ability, but this is usually evaluated through the technical questions (e.g. what are 3 different ways to value a company?), which are part of the overall interview process that you will go through.

There are many other factors that banks will take into consideration when looking at candidates during the recruiting process. Some of the core characteristics that banks are looking for include:

"¢ Are you a strong 'athlete'? - This means you have analytical horsepower and comfort with financial concepts/quantitative work.
"¢ Do you work well in teams? - In banking you must possess the ability to work effectively with others and proactively look for opportunities to support your team mates and your manager.
"¢ Do you have 'safe hands'? - Exactness and perfection are highly valued in banking. When you have 'safe hands' your work is error free (especially your financial models) and your team can count on you to produce top quality work.
"¢ Are you likable? - As easy and simple as it may sound, getting along with your co-workers inside an environment where high profile deals and large egos are on the line is quite challenging. Deftly handling interpersonal interactions with your co-workers is key.

Based on your GMAT score, you do have strong quantitative ability, which will serve you well when preparing for the technical aspects of the i-banking interview. Start thinking about the other core characteristics that banks value in candidates and examples from your past experience that demonstrate your competency in those areas.

Good luck with your applications!

Way Lum
ZoomInterviews

[money9111]

My friend went to a recruiting event at Darden and he said that the students there said that for consulting they were asked what their GMAt scores were. I know that's not IB but just a general note for all!