Admissions advice

[pvars]

I am 31 years old and work as a VP, Research Analyst at a small subsidiary of a brand name asset management (high yield bonds) company in the Midwest. I got here through the CFA program. I don't really need an MBA for current position/company, but if I ever need to move, it would help tremendously. Undergrad U of Colorado Political Science, 3.3 GPA. Just took the GMAT and got 670. Aced the verbal, botched the quant (was doing well then ran out of time and had to guess the last 4 or 5). I plan on taking the GMAT again and believe I can get 710+. My goal schools are University of Chicago and Kellogg part time programs. I have no real extra curriculars to speak of.
My questions are: given my profile, can I get in? To what extent is age considered? Am I too old? Or is greater work experience/responsibility more important?

[Lisa Anderson]

Dear pvars:

For part-time programs, you will be slightly above the average in terms of experience but that is not a negative nor will it count against you. You are almost in a gray area where you could consider an executive MBA program as you are already at a VP level and probably have almost 10 years of experience.

As for the GMAT, I'm not sure you really need to retake the exam. Your score is probably at or above the average for the Chicago and Kellogg part-time programs. Likewise, the score is not much of a concern should you look at any executive MBA programs as EMBA programs emphasize work experience and c-level potential more in the admissions process.

I think you have a pretty good chance of admission based on the limited information provided. Of course, you will still need to submit a strong application, good recommendations, and do well in the interview to give yourself the best chance at securing a seat.

Good luck,
Lisa

[pvars]

Lisa:

Thank you for the prompt reply. I am a little surprised that my chances are as good as you say (with the 670 gmat/low quant score 38 scaled/55 percentile, verbal is scaled 44/97 percentile), so I have a couple follow up questions. First, it would be my preference to do the mba this year but I would be okay waiting a year. My concern is that if I were rejected, would I be tainted in a subsequent reapplication despite a higher gmat score? If so, I'd prefer to wait and submit my best application with a greater chance of success. Second, is current, and thus potential after graduation, compensation a significant factor? I think I would contribute favorably to these schools mean/median numbers based upon the numbers I have seen. I am really only interested in Kellogg or Chicago due to their outstanding reputations. Less highly regarded schools, I fear, would only help my career prospects in that I could "check the box" on the do you have an mba question. Thanks again. I value your input greatly.

pvars

[Lisa Anderson]

Dear pvars:

Keep in mind that the evaluation for part-time programs is a little different than full-time programs as the average experience trends higher. Thus the quality of your work experience plays a greater role in the overall evaluation of your candidacy. If you feel you are ready and can put together a strong application, then apply this year. Applications are evaluated holistically; thus the other components of your application (essays, recommendations, interview) are just as important as your GMAT score.

With regards to re-applying, it depends on why your application was rejected. If you apply and get rejected, I would strongly encourage you to speak with someone in the admissions office for feedback on the decision so you can appropriately address any concerns. Also, you will want to re-apply in the first round and use the optional essay to address these concerns.

While your GMAT score is slightly below the average at Kellogg and probably close to the average at Chicago, I am still not overly concerned but you are right in believing this to be a potential weakness in your application. If you are worried about your quantitative score and believe you can do better, then you should retake it. My guess is you have evidence of quantitative aptitude in your professional history (and maybe undergraduate record?), so that is primarily why I am not overly concerned. Nevertheless, a higher GMAT score will never hurt you.

Lastly, your current compensation does not really play into the admissions decision. Your future career potential might as programs want all of their graduates to secure employment and have successful careers. Your career potential is a positive but will not play a greater role in the admissions decision than any other component of your application.

Best of luck to you,
Lisa