School Selection

[csleee]

Hi,

I need some help in deciding whether or not I should retake the GMAT.

GPA: 2.9
-Recent grad with double major in Accounting and Industrial Management from Purdue(double minors as well but I doubt it matters)

GMAT: 640 (Q43, V35)


I don't plan on applying for a couple years(thought I'd take it now since I'm not working). My only experience I have are a couple internships that aren't that relevant, but I do plan on working abroad later this year and getting more relevant work experience after I return to the US.

Obviously I don't give you very much information to work with, but I'm just trying to get a rough idea of what kind of schools I would be looking at so I can decide if I should retake or not. I was shooting for ~700 on the GMAT because my GPA is so low, but obviously that didn't happen and now I am considering a retake. If I were to retake, I feel the best I could do is ~700, but probably not over. So is it worth it to retake and score 40-60 points higher?


Program: Either MBA or Masters in Finance/Accounting (still really not sure what I want to do since I zero work experience). Really looking for a program with a good name. It seems like so many people have MBAs that the only thing that will separate you from the bunch is where you got the MBA.

Thanks!
Chris

[Lisa Anderson]

Dear Chris,

Since your GPA is on the low side, the GMAT is a way to demonstrate your academic aptitude. The 640 is not a bad score, but if you feel you can increase the score, then I would retake the exam. If you can increase your score at least 40 points, you will put yourself in a more competitive position.

Admissions for MBA is a little different, and more competitive, than for Masters of Accounting/Finance programs. Your work experience is important, so it would be best to secure a job soon.

Best of luck,
Lisa

[csleee]

How bad would it look if I didn't improve that much? Say I only improved 20 points, will that look worse than if I had just stuck with my original score and not retake it?

Thanks

[csleee]

If I decide that a masters in finance is good enough, what schools are in my range?

Thanks

[Lisa Anderson]

Dear Chris,

While 20 points is not statistically significant, an increase in GMAT score is always helpful. There are definitely MBA programs out there that will admit you with your current score; the question for you is are these schools a good fit for you. It is important to identify the best programs for what you want to do post-MBA and have the culture that fits best with your personality.

As for simply masters programs in finance, I'm not as familiar with what schools offer these programs and their profiles outside of my region. These programs are not equivalent to MBA programs nor are career opportunities the same. I would strongly encourage you to think about what you want to do with your career, research the differences/similarities of the masters programs, and determine which makes the most sense for you. It could be the master of finance makes the most sense or it could be an MBA.

Regards,
Lisa