Profile Evaluation: Very Early Career/Straight Undergrad App

[gp70]

Hi!

Would you be so kind to give me your thoughts? I am considering top 20 US B-Schools, but the better, the better

First my profile:
Demographics: male, 22 years old, from Austria, Europe, German native speaker.

Undergrad: BSc in Business, Economics and Social Sciences with Business Administration major; specializations accounting, management control, tax law. passed with distinction, GPA 1,49 (European 1-5 scale, 1 is best grade, 5 is failing grade).
The program's minimum duration generally is 3 years, most students need 4 years to complete it. I actually graduated in only 2 years, without any waivers, just decided to go for twice the workload in the second year (was bored basically).
The school is the biggest business university in Europe, with nearly 30,000 students enrolled. Class (~ 4000 students) rank is confirmed top 1%.
Also completed about half of a LL.B Business Law Bachelor, but will not continue this program. (Should I mention this at all? Will I need to provide transcripts for this?)

GMAT & TOEFL: taken in January 2011: GMAT 690 (V41/Q44/AWA 5.5), TOEFL 114
(I think I can do better on quant, will retake in 2 weeks and hope for 720+)

Work exp: As of now, only 6 months part time in accounting department of an SME during second year of undergrad (excellent recommendation) + 2 month research project at university (very low scale leadership function)
Currently interviewing for internships at major consulting firms, financial advisory at BIG4 and Investment banking/Asset Management. Will complete 4 - 6 months internships before fall 2011.

Extracurriculars: active in one charity NPO (non-leadership), active in my undergraduate school's ambassador program (marketing the school at high schools, doing campus tours), active in local European law student association; active in organization and as a mentor for a private high potential program; ..

Why MBA/Why now?: Want to study business at one of the best institutions in this field, with top professors and top peers. I am in this primarily for the education, the intellectual and personal challenge. Career is not my main concern, although MBA would fasttrack career significantly (post MBA: consulting).

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I have applied in Round 2 to HBS and MIT this year and already received rejections (basically just gave it a try, still I took the application 100% serious). Currently applying R3 Wharton and Yale. Maybe R3 Stanford if I can boost my GMAT substantially. Chances slim or none?

I also consider applying again next year, but I am not sure what to do until then. If I'd work 1,5 years in consulting, I would be a typical early career applicant next year. Realistic chances at top 20 US B-Schools?

Other possibility would be doing an MSc from fall 2011 to summer 2012. What do business schools think about that? Will there be a chance for the 2012 fall intake if I have my current profile + some more months top internships + an MSc?

Awful lot of questions, I know. Thanks in advance for having a look at it.

Best regards.

[Stacey Oyler]

Hi,

Thanks for your post. I realize you have a lot of questions, but I do think getting to the main issue is important. Frankly you don't have enough work experience for top 20 US programs. Most look for a minimum of 2 years (HBS actually implemented a 2+2 program for this purpose), and your 6 months of part time experience just might not be enough. Schools like HBS who rely heavily on the case method rely on students with diverse work experience and tenure to contribute to the class discussion. I think it's fair to say that adcoms might be concerned that you don't have enough experience yet to make a solid contribution to your class.

I agree that retaking the GMAT is probably a good idea as is waiting another year or two before applying to schools. The more experience you have the more you can contribute to bschool programs.

Lastly, bschools want to know why you need an MBA to advance in your career. Simply stating you're going to school for the intellectual challenge isn't enough. Top bschools are looking for future leaders and if you can't state that you're looking for the same, it might be challenging for them to admit you since your overall goals aren't in sync.

Regards,

Stacey