Need Your Opion Stacy (If you have some time...)

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Hi Stacy and crew, really have enjoyed the forum so far!

I was wanting your opinion on my situation... My partner and I just finished selling a large part of our companies assets in February and everything went quicker than expected, I had been planning on applying to business school for september 2009 but since we finished early I decided to go for round 3 for september 2008. However this didn't leave me much time to study for the gmat since it takes 20 days for the scores to get to schools. I just finished studying for about 6 days and took it today, I got a 620, 41V - 93% and 34Q - 42%. I'm 26 and haven't taken math since my freshman year of college so a bit rusty and didn't come back as quickly as I hoped it would. In the practice tests I had been getting a 38Q or so, which would have been a lot better. I was aiming to get at least a 680.

So the big question is do you think I should go ahead and apply to round 3 of the schools I was interested in or wait take a few months to catch up on math and retake it and apply for 2009 admission? The schools I am most interested in are Chicago GSB, Columbia, Dartmouth, Harvard, and maybe NanYang.

I think I've got a pretty strong profile but I'm not sure its strong enough to counter a 620 for a top 20 school, maybe you could give your opinion on that as well? I'm 26 and have a long history of starting my own businesses. I started a web publishing company when I was a senior in high school in 1999, later sold that, started a web hosting company in 2001 and sold that in 2004 after it had grown quite a bit. During 2004/2005 I was vice president of a large service technology firm for 2 years. And then in 2005 I started the last company which my partner and I just finished sold, it was the largest so far and was an internet marketing company doing more than a million in sales a year. I graduated from undergrad with degrees in history, international relations, and political science at around a 3.3 gpa. I've got pretty good recommendations from clients and the owner of the only company where I had a boss. Plus good international expierience as I lived and worked in Ireland for 8 months, and I'm currently in the middle of living in Egypt for a year, plus a lot of traveling.

So what should I do in your opinion? Apply with a 620 for the round 3 or just wait for 2008 and spend some time studying to help my gmat score?
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by Lisa Anderson » Wed Feb 13, 2008 7:05 pm
Dear nbwbolen:

Congratulations on the sale of your company! It seems you have lots of interesting entrepreneurial experience. The main question you need to ask yourself is do you have the time to put together the best application possible or will the application be thrown together. If you do not have the time, then you should absolutely wait and apply for 2009.

If you do think you can put together a solid application in time, including perhaps a retake of the GMAT, then it might be worth "rolling the dice" for fall 2008. You have to determine your risk tolerance on this. While a 620 is not a bad score, it does put you on the bubble for the schools you mentioned. I think you have some interesting experiences in your background that will intrigue the admissions committees. It is a hard call for the third round as there are so few seats left to offer at this point.

One strategy you could consider is applying to 1-2 target schools and then maybe a few select programs outside of the top 20 but in the top 50. Figure out a few that would offer you the curriculum you desire and the career opportunities of most interest to you. You might be surprised how many programs that are top 50 which might be attractive to you and provide you what you want. I would also suggest you take a little time to determine how much, if any, it would hurt you to re-apply for 2009 in the event you get rejected from your top choice.

Good luck!
Lisa
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by nbwbolen » Fri Feb 15, 2008 6:16 am
Thanks for the advice Lisa!! Good points, I already started my application but I think I will just wait to retake the test in a month or so, catch up on math, and then apply for the 09 year. thanks!