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Advice Request - GMAT Retake and Chances?

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Advice Request - GMAT Retake and Chances? [#permalink] New post 04 Jun 2013, 05:06
Hello,

I hope someone could read my profile and provide a little guidance/advice.

A couple months ago I took the GMAT for the first time. I got a 700. V41 (93rd percentile), Q43 (61st percentile). I received a 6.0 on the analytical writing portion and 7 (81st percentile) on IR. I would like to know if it will be worthwhile to retake the GMAT for me as I would like to get into a top 10 program. Will it be worthwhile to improve that math score at the risk of decreasing overall? I have done much better than that on the quant portion in the practice exams, but never that well on the verbal portion. Stumbled on 1 question and it was all downhill I guess.

Other information about myself:
I currently work in a small strategy consulting group within a large firm specializing in operational strategy due diligence and analysis for private equity clients (e.g. when KKR wants to make an investment into a manufacturing company, they come to us for advice on the Co's operations). We do both pre and post acquisition analysis, so my work often requires working with at the CEO and COO level, conducting financial decomposition and analysis, and developing business cases for potential improvements/synergies. We work with large, disorganized data sets, to turn it into information the company can act on. In the past month, our team identified ~25% in EBITDA savings that could result in a 5 year implementation program focusing on streamlining logistics, consolidating indirect spend, standardizing best practices, and improving the safety record (most savings realized in 2 years).

Before that I spent 2 years at a large, well known IT and Management consulting firm working at an electric utility on a $600M Smart Grid implementation in the city. Our team was responsible for assessing business impacts stemming from this implementation (i.e. How will business processes change? Do we need to set up any new departments? How will rolls change based on IT and system changes? What training will be required?) I was a junior analyst when I started, and was working at the next level (consultant level) by the end of the 1st year. I left at the end of the 2nd year for my current role (right before I was promoted).

I graduated from a Top 50 University (think University of Maryland, PSU, Ohio State, University of Texas) with a double major in Finance (with an additional 14 credits in Accounting) and Economics. I had a 3.66 overall GPA, and a 3.85 in the core classes. I was also president of my fraternity, involved in case competitions and a member of the investment association.

On a more personal side, my family moved here from Uzbekistan/Russia when I was 10 and started from practically nothing, so I do not come from a privileged home by any means. I am a 24 year old white male (since I believe this matters at admission).

All that being said, what would be my chances of getting into Top 5, Top 10 and Top 20 programs? Should I retake the GMAT to get closer to the 720 mark? Will it be worth the time? Thank you for your help!
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Re: Advice Request - GMAT Retake and Chances? [#permalink] New post 05 Jun 2013, 02:20
Expert's post
mpoloal wrote:
Hello,

I hope someone could read my profile and provide a little guidance/advice.

A couple months ago I took the GMAT for the first time. I got a 700. V41 (93rd percentile), Q43 (61st percentile). I received a 6.0 on the analytical writing portion and 7 (81st percentile) on IR. I would like to know if it will be worthwhile to retake the GMAT for me as I would like to get into a top 10 program. Will it be worthwhile to improve that math score at the risk of decreasing overall? I have done much better than that on the quant portion in the practice exams, but never that well on the verbal portion. Stumbled on 1 question and it was all downhill I guess.

Other information about myself:
I currently work in a small strategy consulting group within a large firm specializing in operational strategy due diligence and analysis for private equity clients (e.g. when KKR wants to make an investment into a manufacturing company, they come to us for advice on the Co's operations). We do both pre and post acquisition analysis, so my work often requires working with at the CEO and COO level, conducting financial decomposition and analysis, and developing business cases for potential improvements/synergies. We work with large, disorganized data sets, to turn it into information the company can act on. In the past month, our team identified ~25% in EBITDA savings that could result in a 5 year implementation program focusing on streamlining logistics, consolidating indirect spend, standardizing best practices, and improving the safety record (most savings realized in 2 years).

Before that I spent 2 years at a large, well known IT and Management consulting firm working at an electric utility on a $600M Smart Grid implementation in the city. Our team was responsible for assessing business impacts stemming from this implementation (i.e. How will business processes change? Do we need to set up any new departments? How will rolls change based on IT and system changes? What training will be required?) I was a junior analyst when I started, and was working at the next level (consultant level) by the end of the 1st year. I left at the end of the 2nd year for my current role (right before I was promoted).

I graduated from a Top 50 University (think University of Maryland, PSU, Ohio State, University of Texas) with a double major in Finance (with an additional 14 credits in Accounting) and Economics. I had a 3.66 overall GPA, and a 3.85 in the core classes. I was also president of my fraternity, involved in case competitions and a member of the investment association.

On a more personal side, my family moved here from Uzbekistan/Russia when I was 10 and started from practically nothing, so I do not come from a privileged home by any means. I am a 24 year old white male (since I believe this matters at admission).

All that being said, what would be my chances of getting into Top 5, Top 10 and Top 20 programs? Should I retake the GMAT to get closer to the 720 mark? Will it be worth the time? Thank you for your help!


Easy answer: no.
:)

A 700 is good enough to get you into any program in the world. Plus you have a good career, and good grades, and by your own admission had never done so good on the verbal, so the chances of you scoring higher are not spectacular. Plus, final argument against retaking the GMAT: Questions are already released!!! And it is time for you to start working on those applications. I think you even have a shot at top 10 programs, though if your company is not one of the big names, the top 3 will be pretty tough. And I think top 20, if you build a good strategy and have great essays (and some good extra currics and volunteer work) should be well within reach for you.

Whatever the case, I don't think 10 or even 20 points on the GMAT is worth you losing two months of your time at this point. You have good numbers a good background! Now it's time to start working! (and you will be surprised by how much there is to do).

I wish you all the best, and if you have any follow-up questions
_________________

Jon Frank
Founder, Admissionado

Admissionado.com

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