Urgent -Need guidance ( MSF vs MBA after 1 year)

[Harsh_Bazooka]

Hi Everyone,

I scored an abysmal and pathetic 690 (Q49, 35, 7) yesterday and I have no option of retake till June 2018. I was aiming for top notch masters in finance / MFE (UCLA, LSE, HEC, etc.) but now I feel I have no chance. My questions are:

1) Given the average/median scores at my target school is 700/710 and keeping in mind that Indian average is +20/30 points as always, SHOULD I STILL go ahead and apply?

2) Profile: 3.25 years of Total Work experience ( 2 years at 3rd party data analytics consulting company and currently at Large MNC Bank doing Financial Simulations and forecasting. Capital budgeting of Credit cards portfolio worth more than 100 Million dollars in EBIT annually), CFA Level 3 candidate, above average community service ( 1.5 years at 2 NGOs), evidence of promotion and leadership in Professional life, recommendation from HOD and VP and in top 3 in class of 75 (79% aggregate - 1st class with distinction from a lesser known average Indian college) should I ditch the 2018 intake (MSF) and rather target 2019 intake for MBA Finance with GMAT retake in Sept?

3) On one hand I believe I will get at least the flavour of end-to-end process if I apply, this experience will be invaluable. On the other hand it feels waste of 300-500 dollars and time. Thoughts?

4) Given this profile, which schools would you recommend?

Please feel free to add any other areas you feel like. Hope you get the pulse and dilemma I have.

[Donna@Stratus]

Hi Everyone,

I scored an abysmal and pathetic 690 (Q49, 35, 7) yesterday and I have no option of retake till June 2018. I was aiming for top notch masters in finance / MFE (UCLA, LSE, HEC, etc.) but now I feel I have no chance. My questions are:

1) Given the average/median scores at my target school is 700/710 and keeping in mind that Indian average is +20/30 points as always, SHOULD I STILL go ahead and apply?

2) Profile: 3.25 years of Total Work experience ( 2 years at 3rd party data analytics consulting company and currently at Large MNC Bank doing Financial Simulations and forecasting. Capital budgeting of Credit cards portfolio worth more than 100 Million dollars in EBIT annually), CFA Level 3 candidate, above average community service ( 1.5 years at 2 NGOs), evidence of promotion and leadership in Professional life, recommendation from HOD and VP and in top 3 in class of 75 (79% aggregate - 1st class with distinction from a lesser known average Indian college) should I ditch the 2018 intake (MSF) and rather target 2019 intake for MBA Finance with GMAT retake in Sept?

3) On one hand I believe I will get at least the flavour of end-to-end process if I apply, this experience will be invaluable. On the other hand it feels waste of 300-500 dollars and time. Thoughts?

4) Given this profile, which schools would you recommend?

First-- just breathe! The Q score on the GMAT is pretty solid for masters programs-- and this is the more important part of GMAT for you. I think with the CFA and the strong work experience-- that in fact you could be successful at the schools on your list and that you will indeed learn something from the process of applying that could make you a stronger candidate next year. While whether the cost is worth it or not is up to you-- but from what I see here-- I do think you could be competitive at some of these places. good luck!

Please feel free to add any other areas you feel like. Hope you get the pulse and dilemma I have.

[MargaretStrother]

Interesting set of questions here! First, between Masters of Finance or MBA, that depends on where you hope to be in a few years, and which program will get you there most effectively. I wouldn't base that decision on your GMAT score; instead, I'd set your target GMAT based on the incoming class profiles of the programs you think would be best for you.

That said, your V is a bit low, using UCLA's MFE as the comparative here. I'd definitely retake it -- you're right that Indian applicants have a reputation for higher overall GMATs, but your high quant and the CFA are indications to top business schools that you have the analytical strength for their programs. Their concern will be communication skills; that's why the low-ish V is a concern.

So to answer your key question, should you go ahead and apply anyway? That depends on your appetite for risk -- not just the money you spend on application fees, but also whether you typically experience short-term failure as demotivating or as challenging. If you approach the application process as a learning experience, it could be terrific: here at Stacy Blackman Consulting, we work with a lot of reapplicants, and I've seen that people do learn a lot from their first stab at the application process. To summarize, my professional advice is to go for the long game: know your Goals, and build your interim steps with those goals in mind, rather than making decisions based on temporary data, such as one less-than-ideal GMAT outcome.

Good luck!
Margaret Strother