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I am completely confused. I have excellent stats, but not much work experience, and I need to either go for an Master of Finance or MBA next year. What should I do? What shools to target for MBA?
Polish, finished small college in Midwest in 2006
GPA: 3.9, Magna Cum, Economics & International Management
Work exp: two high profile internships and one econ research co-ap in DC in one of the most presitgues think-tanks in the world and in the leading international PR/public affairs firm- total 1 year, did 6 months of hard core econ research, assisted with two publications, attended number of conferences, etc Then I was a independent consultant. I went to South America for two months to conduct market research in wine industry for a company from Poland.
Extra: VP of fraternity, organized over 20 events in community service/pr area (innitiated all of them), managed over 50 people, won numerous awards, led effort to raise over $15,000 in 1 year (record for my college).
Founded and led a business fraternity on my campus, chapter of PBL, placed (top 10) in national business competition for college students (twice).
Overall: good extra, internships, GMAT, GPA...no full time work experience after graduation
What schools should i target?
What are my chances?
2) My Quant was 48, which is okay but nothing special. If I decide to go for a master in finance, should i retake the GMAT to get better Q (i can easily get 50-51, last time was sick), even thought my overall score will be probably similar? Should i go throught this effort, or will the MF programs not care much about 48 in Q, given my overall high score?
Much more important than having a year of McKinsey on your resume is showing WHAT you have accomplished on the job, whether it's at McKinsey or somewhere else. So, focus much less on the name and more on what you can personally accomplish on the job. That's what will increase your chances the most.
Based on the limited info I have, I think your chances of getting into at least one top-five school are pretty good. Don't hold your breath on grants or scholarships, though... They're pretty rare at the ultra-elite schools. My advice: Attend the school that you really want to attend (if you get in), not the school that offers you more money. Remember that this is decision will affect your career for the rest of your life!
Re: consulting firms, I strongly recommend Veritas, which is a partner of ours. They actually employ many of the principles that we outline in Your MBA Game Plan.