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I understand the pain and perseverance you must have underwent during your preparation. Don't be disheartened and GMAT score is certainly not the end of the road. But, NOBODY is stopping you from taking another shot!
Although I am not an expert, would like to share my views if they can help:
OPTION 1) First of all, give GMAT another shot. Remember you have nailed our Indian CAT with 98-99%.You have to focus on Verbal only, as Quant is already in your back pocket. You can take some course from XYZ prep companies that give a money back guarantee if the score doesn't improve by 40-50 points.(e-GMAT Verbal Live prep, Knewton etc)
Here you invest time, lets say 1 month, if score improves, well and good otherwise your move ahead with whole fee refunded. Most of the US colleges will have their deadline around end-of Sept. So, you still have 1 solid month to give it a shot somewhere mid-August, go for it. For ISB,NUS and Nanyang, see the Indian economy (currency fluctuations), lot of guys will be aiming at Asian colleges and with exp around 3-4yrs for an IT guy, it is becomes super tough.
OPTION 2) You continue with 700 and spend some time working on your profile. Remember joining an NGO now and showing to adcoms that you participate in NGO activity won't help at all. I guess you already know your choice of schools well so that research time will be saved. If you don't have any idea regarding your choice of schools, won't be much of a problem considering the power of networking these days. Essays, you can write in 1 month assuming you have fair knowledge/exp since you already wrote for ISB. Also,for LOC, it won't be a big problem to get the feedback from your Team Lead/Supervisors.To evaluate your profile and for further help, we have experts in this wonderful forum.
To sum up, you can't improve GPA, volunteer work, ECs, and you come from a very competitive pool. The one thing that can quickly make you DISTINCT is a 750+
Well, I may sound as if I have aced GMAT, but unfortunately I am in the same boat to join 700+ clubbers. But,after reading your whole journey I believe you can/should nail this monster.
Thanks a lot for the suggestions, and i get what you are trying to say But somehow i feel that i will not be able to pack a GMAT in between today and 15th September, the R1 deadline for ISB. Last time I applied with 700 in R2 and was able to bag a call. I am hoping that applying in R1 might help me.
If I book a GMAT and do not study for it, that wont solve the purpose, i will probably land with a 700 yet again or at max 710. And this difference will not make much of a difference to my application. Whereas if i study for the GMAT rigorously, in that case, my application process will lag for sure. So i am thinking on focusing on the application process and present in front of them a strong case along with the re-applicant essay, in which i can showcase my improvements from the last year.
I have sorted my schools as i want to join a course here in Asia itself at if ISB, nothing can beat it. Regarding the NGO and extra curriculars, i think that i have a fair number of extra curricular activities in my bag.(Well thats what i think ) And i am a part of MAD and Teach for India for the past two years, so the adcom will not be in the impression that i have joined the NGO just to impress them.
That's the plan. Lets see how it goes _________________
I was also having an assumption about the joining of an NGO late, will not give a good signal to adcom. But I had a discussion on this with my admission consultant. He is experienced and an oxford grad, working as Associate VP in Reliance Capital. He told me that B Schools accepts the facts in application on its face value i.e they do not look into things with an assumption. if you have written that u started working for an NGO , lately...its of no harm.
What was your target BTW. What were your GMAT Prep scores ?
If you are targeting ISB/NUS, you still can give another shot. For ISB, application/goals/ extra-curricular are less important IMO.
I was targeting around 740.
By the quoting line, are you trying to say that the GMAT score is the make or break factor at ISB?
It's not a make or break factor, as said earlier just my opinion. The average GMAT for ISB is 705. Hence we can assume that the average for Indian IT males would be 720-725. One of my colleagues who is an ISB alum said that they are looking for higher GMATs from engineers. _________________
The question is not can you rise up to iconic! The real question is will you ?