another profile evaluation :)

[abcde]

General Profile
- 32 year old pacific islander/asian female
- 8 years works exp in finance/i-bank at same firm in their equity research dept - worked my way from admin to sales director role (comp went from 50k to 125k)
- Graduated from UC Berkeley with 3.0 as double major (philosophy/legal studies)
- Volunteer work for last 8 years and served as board member for 2 non-profits for the last 4 years
- Unique upbringing - unstable home, lived on my own since age of 16 working 3 pt jobs while finishing school
- GMAT score 550

Future Goals
- 5-20 yr plan - a) use my work experience and continue career in sales within finance or other industry b) make a switch within finance and focus more on quant or regulatory side of the business

- 20 yr plan/close to retirement - do work for npo (maybe on the grant side) and focus on social good

List of Schools
- dream schools: Harvard, Yale, Chicago, Northwestern, LBS, Insead, UCB, Stanford

- closer to reality: Darden, USC, Georgetown, Duke, Mccombs, Cornell, Columbia, UCLA, NYU

I'm quite concerned about my gmat score and increased competition. I need some advice on:

1) My Plan A: MBA Program at top/dream schools - with my profile, do i have a chance at any of these schools?

2) My Plan B: if i dont get into my dream MBA program...i was considering going to the other schools on my list and obtaining a mba/jd degree and taking my career into compliance and regulation. also, i havent taken the lsat yet, but my guess is i'll have an avg score.

What do you think my chances are for plan A and/or plan B based on my profile? Please advise. Thank you in advance!

[Lisa Anderson]

Dear abcde,

I will be honest here; I am very concerned about your chances at all of the schools on your list. Your GMAT score is significantly low, and for many out of their total GMAT range. While that will not be the only reason for rejection, I think it will be quite difficult for you mitigate the score with the rest of your application in this year's applicant pool.

Don't misunderstand--you should apply to 1-2 of your dream schools because that is your dream and you might make a compelling enough case in your application to be offered a seat. However, I think you should seriously consider taking the GMAT again after either getting some tutoring or taking a prep course. Applying to a joint program will not gain you any advantage.

As you are on the higher end of the experience range, you might consider applying to either a part-time or executive program. For some of these programs, schools are more willing to overlook lower GMAT scores in favor of strong work experience (i.e., quick progression, leadership). It also makes sense given that you want to stay in the same industry to consider these programs instead.

Best of luck,
Lisa

[abcde]

Thanks! I think I need to be realistic here, so its good to hear your feedback. I should have included that I was recently laid off. So not sure if I can apply to an EMBA program (assuming you need company sponsorship).

I will likely take the GMAT again. Above what GMAT score would you recommend to increase my chances of admittance - would you say I need 650, 700, 720? Also, if I don't retake the GMAT, would it suffice to take a quant focused class to offset the low GMAT? I can probably do one or the other but not both the GMAT again and the quant class.

Even if I increase my GMAT score, is it realistic to even apply this year considering the competitiveness of the applicant pool? Even if I increase my GMAT score, include stellar recommendations, write compelling essays - is my profile pale in comparison to the rest of the applicants this year? Sorry don't mean to make myself sound so gloom on a Friday!

Again appreciate the feedback!

[Lisa Anderson]

Dear abcde,

You do not need company sponsorship for an EMBA, but you do need to be working. I think if you can get your GMAT to a 650+, you will put yourself in a good position (obviously higher is better). I really think taking some courses would be beneficial to you; it will assuage concerns, but can also get you prepared for business school. I would suggest taking a college algebra and/or calculus class before you retake the GMAT as it might help you there also. It is better to apply in the second round with a stronger application than in the first round with a weaker application.

I do think you could be in business school next year; the question is where. That is why I encourage you to identify alternative schools with lower GMAT averages.

Good luck,
Lisa