Profile Evaluation Request - Thanks in Advance

[cjb123]

This is my first post on Beat the GMAT! Below is a brief overview of my profile. My goal is to apply to a full-time program for fall 2013. My targeted track is in finance, and my goal is to get into the best school possible. I have no fear of rejection, so I was going to send out a number of applications to top schools, even if they were considered a reach. Programs I am considering are: Wharton, Sloan, Kellogg, Booth, Haas, Columbia, Stern, Fuqua, Darden, McCombs.

Facts:

-25 year-old white male (26 when entering program)

-3.32 undergraduate GPA from University of Georgia (Bachelor of Business Administration) - graduated in 2009
-3.38 graduate GPA from University of Georgia (Master of Accountancy) - graduated in 2010

-2 years of public accounting experience, specifically in external auditing (35 months when entering program)
-I began my career at a smaller public accounting firm (approx. 150 people) and transitioned to a Big 4 firm (both in a major market). I will have approximately 2 years of Big 4 experience by fall 2013
-I have the CPA license and will have the CMA (Certified Management Accountant) certification

-GMAT: 690 in 2008 (88th percentile overall); V38 (83%); Q46 (77%)
-I did very little studying in 2008. I'm hoping 100 hours or so will help me break the 700 barrier but it's very possible that the 690 is the score I will be taking into the applications.

-I have done some charity work in the area but not enough to really be considered relevant (the hours at work make it difficult but that's no excuse to an admissions agent).


Other relevant info:

-In college I started a tutoring service for pre-calculus and accounting. It started with helping friends but grew to multiple students per semester in each subject. The business spread through word-of-mouth but was fairly successful.
-I've received top reviews throughout my (young) career. The big 4 firms are very structured. Promotions simply don't come early. That being said, I was functioning at a level higher than my title and recently received a promotion. I have 2-3 people that I directly supervise. The top reviews should lead to some very helpful recommendations from my supervisors (emphasis on leadership, team skills, etc.).


A few questions:

-What schools do I have a realistic shot at from my list above?

-How can I improve my candidacy? I realize that I'm applying relatively soon, so I'm not sure what else I can do to really improve my stock before applying for fall 2013.

-Do I need to retake the GMAT? I have already signed up for it, so I'm going to take it. I was just wondering if you thought a 690 is that much different than, say, a 710.

-Will it look bad if I do worse on the GMAT in 2012, as compared to 2008?

[Jon@Admissionado]

Thanks for your post good sir, and for come to the fore.... always easier to get advice than while lurking....

Sooo, my first initial reaction to your profile, is that you have good stuff there, and a good basis, but: What's the rush?????

Yeah, your 690 is not exceptionally high for the schools you have listed, but it's not an insurmountable barrier either. What IS more tough though is how little work experience you have. As you probably know, most MBA programs like to see 4-5 years of work, to give you the time to succeed and gather experience and knowledge that will be useful for your studies.

Now with only two years by matriculation, you are gonna have a much harder time first of all finding great stories, than say, someone who worked five years at a Big 4 (and those guys are applying too!). So, if you don't have the experience, the schools like to see something precocious already (meaning if you were the top performer in your class of 1000, even with two years, then it becomes more attractive). But the combination of far less than average work experience, PLUS a less than average GMAT (for most of the schools you listed), makes me think that it might be best if you waited even a year.

I mean this would
a) Give you the time to retake the GMAT at your leisure
b) Give you another year to do what you can to improve your candidacy, and gather experience
c) Give you the opportunity to start your applications next year very early (like June)
d) (Give you the opportunity to visit any schools you haven't)

If you are totally dedicated to apply this year and only this year, let us know, and I'll share some more thoughts with you, but still, my first thought, is that ultimately in the long term, applying one more year later or two, will have only positive long-term effects in terms of allowing you to attend a better program (because your profile will be stronger)

As for retaking the GMAT, it doesn't look bad if you do worse later on, although of course if you do better, that's better! And, I would say give it one more shot, to see what you can pull. And yes, having a 710 DOES make a difference.

Good luck to you dude!

[cjb123]

Jon-

Thanks so much for the quick reply and valuable info! I wanted to give you a few more details as to why I'm thinking about applying this fall:

Why so soon:

-Work experience: At this stage in my career, in my field (auditing), I'm just not sure what another year would do for me. I'm sure it would help in the admissions game by just having another year on the resume, but I just finished a "promotion year" and have been/will be working in the same capacity for the next three years (with the same title). These Big 4 firms are extremely bureaucratic. There are no early promotions (at least in my firm), so I will basically be honing my audit skills, while taking a few added responsibilities along the way. I'd like to say that another year and I'll be managing jobs, but that simply isn't a reality.

-GMAT score: While 690 is lower than the wheelhouse at some of these schools (as you said), I can't help but be terrified by its impending expiration after this round of admissions. My scoring, albeit in a pretest only 10 or so days ago, was far below the 690 level. This is where the self doubt sinks in: was I just really lucky on the first go-round? Probably not, but it sure is a lot harder studying after working 10+ hours a day than it was back in undergrad!

-Career advancement (most important factor, by far): As mentioned in my first post, I want to switch out of the accounting world and into a finance position, eventually developing CFO-type skills. While admissions might like that extra year of work experience, I can't help but feel like the earlier I go to B-School, the earlier I can start a new career trajectory. I feel like if I wait around another year and go get the MBA, I'll be at the exact same starting place as I would be if I did it now. But I guess you're telling me that it might not even be an option to do it now?

One clarification:

-At matriculation, I'd have 35 months (almost three years!), but only 2 of those years would be at the Big 4 firm. I know you mentioned two years at matriculation in your response, which is what I'm at now, so I'm not sure how much of a difference that will make- but I just wanted to clarify.

Another question for ya:

-While the work experience is on the lighter side, does the master's degree help in this regard at all (I'm assuming probably not)? I'd be at a (much more) solid 4 years of work experience without the MAcc degree at matriculation, but without it, I wouldn't have the CPA license.

So- can it be done? Or do I really need to wait?

-So it really all boils down to this: Can it be done? Or do I simply need to re-evaluate where I stand, develop some skills, log some community service hours, study hard for the GMAT, and try again next year?.. or can I do this all by Round 2 this year?


I can't thank you enough for your help.

-CB

[Jon@Admissionado]

Dear CB,
After having read through your note, I'm thinking then that this year would in fact be the better for you. I mean I can understand your whole not wanting to retake the GMAT, and using what you have before it expires. And your arguments based on your recent promotion and the stagnation you would expect over the years is also a very important element in considering what YOU actually want to do with your life.

So, like I wrote, you are a bit under the average for some of these schools, but with a strong application you should be able to make it in somewhere in the schools you have chosen. I would say then: HURRY UP!!!!

At this point you do want to get as MANY schools as you can in R1 (and for sure NYU). If you start TODAY, I think you can get anywhere between 2-5 applications in by R1, depending on how hard you would be willing to work. I think in your case it is ESPECIALLY helpful to get what you can done by R1, esp. if you are aiming for your dream schools, cause that will give you time to tweak your strategy, should things not be going the way you want in R1. That way, you cover all the bases, and leave the maximum options open for you.

Sounds good???

Well, in that case, get a movin!!! And good luck...
If you have anything else, drop us a line.