Retake GMAT or start CFA?

[dsonjjb]

I have just gotten out of the GMAT, and pretty disappointed in my score (670). I am very happy about my verbal score, which was always my downfall, and scored a V40. However, apparently I stumbled on the quant section, and got a Q42, which is WAY below my average going into the exam. I'm pretty annoyed because I took all 6 Manhattan GMAT exams, plus the two GMATPrep exams, and every one of my quant scores was between 47-49. My goal was to beat 700, which I broke on my final 3 practice exams (with simulated test conditions), and I feel like I can achieve that score with a little more work.

Also, I'm scheduled to take the CFA Level 2 examination on June 2nd (I failed it last year, but I had a solid grasp of the material given my timing and don't think studying for it again will be nearly as difficult). I'm trying to determine whether its worth pushing my CFA study back another month and retake the GMAT since everything is still fresh in my mind (which will give me the last weekend in January through June 2nd to study), or if I should just focus on the CFA? I'm not planning on going to grad school at least for another year or two, but don't want to lose all my study progress on the GMAT, which I've been focused on for several months.

Thoughts? What would you do in my situation?

Thanks everybody

[sam2304]

Congrats on your 670 . If you are not satisfied with your performance, you can go for a retake. There might be some other reasons - anxiety, exam fear, etc for your low score in quant. Since your practice tests scores have been consistently more than 47 in quant you can definitely go for retake.

[AbhiJ]

It depends on how high are you targeting - a target of 730 or above might be difficult to achieve in 1 month (unless you screwed your GMAT). In that case you are better off focusing on CFA L2 and really nailing it. CFA L2 is like lifting 400 Kgs - It doesnot matter whether you lifted 300 kgs last year. This year again you have to lift 400 Kgs. You really need to stretch your retention beyond what you achieved last year which means more effort not less. Also there is no partial marking for CFA either you are pass or fail unlike GMAT. So it makes more sense to overprepare.

Having said that - lets look at the big picture. Why are you taking CFA L2 next year ? Will it assist in career/domain change. Or is it for profile enhancement for MBA. If its the latter I would argue against even writing CFA L2 next year. Why ? A 20 point increase in GMAT can easily offset the value gained by CFA. You can do many other things that can enhance your MBA admission chances - extra curricular activities, toastmasters, a ultra high GMAT score, really nailing your essays,applying in early round and round1 etc.

[dsonjjb]

Thanks for advice. I'm taking the CFA L2 for pretty much both reasons: to enhance my MBA applications (assuming I decide to go), and to further my career. I could always just focus on CFA L2 now, and revisit GMAT next summer/fall, but also don't want to lose anything that I've gained so far from months of study for the GMAT. I'm not looking to really beat a 730, and just want to break the 700 barrier. While I would like a nice transition between the GMAT and CFA (and have a little rest in between), I'm more fueled by determination at this point, and just want to have the satisfaction of breaking my GMAT goal rather than just pushing it under the carpet for a few months and possibly revisiting at a later date. But then again, and extra 3-4 weeks of studying for the CFA is a pretty big chunk of study time.