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GMAT score 750 and I will retake it! Need advice....

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GMAT score 750 and I will retake it! Need advice.... [#permalink] New post 03 Oct 2006, 15:56
I found this forum about a month ago, and since then i've been adicted to it. I agree with other people that the Challanges just rock! I took 16 of them, in 2 weeks. Excellent experience.

Also, get the manhattan Verbal workbook and take as many as you can LSAT tests (RC section especially). Those two thinks raised my verbal from 32 to 46 in a month! And trust me my english sucks (i am not a native speaker)

Anyway, so since most of you guys have plenty more experience with B-School aplications, I would like to ask you for advice.

Even thought I got 750, I am in a hole. Let me start with my profile:

Polish citizen,

School:

Graduated 2006 from a small college in Midwest with double major in econ/finance and international business, Magna Cum (3.9)..0.01 away from Summa

Work Experience:

I have completed two high level internships in DC (in a headquarters of a leading Public Affairs Consulting Firm, and as an intern to the current Polish Minister of Defense at a prominent DC think-tank).

I have also completed a semester long co-ap as a research intern to a fairly known development economist in American Enterprise Institute in DC (one of the most prestigues think tanks in the world). As part of my internships and co-aps, I did research for two studies/papers that were published, researched and analyzed development economics for six months, attended number of conferences (including one in europe with dozens of presidents, politicians, etc), etc.

I also worked as an independent consultant, helping few companies from Poland, during my senior year in college. As a part of it I helped put together a business plan for a new business venture.

Following this, I was employed by the same firm to go to South America for two months, and developed contacts/conduct market research in wine industry. I also wrote couple reports about the economic/political enviroment in Poland.


Activities:

In College I was a VP of my fraternity, put together from the basics a new community service/pr program for the entire year, initiated and organized over 20 events, manged group of 50 people, and raised over $10,000. The chapters work and my own was recognized through numeral awards.

I also started a local chapter of a business fraternity PBL, and was placed in (top 10) of two national competition in Business.

I was also a research assistant for a socio-econ publication about central europe.

Outlook:

My family owns a decent size business back home, and I am suppose to come back and take it over in 4-5 years max. Therefore, I would like to complete all my education before that.

My options:

1) Should i go for an MBA? What are my chances at top 10, top 15 schools? I cannot get any valuable work experience in the states, because of the visa status, and wouldnt want to be at home longer than a year. So admission in 2007 is my best shot.

2) Master of Finance program. Should I retake my GMAT for it? My Q=48, not very good. For example Oxford MF has an average GMAT 730. Should I retake my GMAT to get a better Quant score (i was nerves the first time, i am sure i can get 50-52, as i did during prep tests)? Even thought my general score may be the same, would it make a difference if my quant was raised to 50? Is it worth the effort?

Finally, what programs in MF would you guys recomend? I am looking into Vanderbilt, Brandeis, Oxford, LSE, Cambridge. I am not interested in financial mathematics, but pure finance/financial economics.

Thanks a lot for all your help. I am really pesimistic about my career outlook, even thought i seem to have good GMAT, GPA, and internship experience.

What schools should i take a shot at? What about retaking GMAT? Will LSE or Oxford care if my Q was only 48, given overall 750?

Thanks!!!

You guys rock.

Martin
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 [#permalink] New post 03 Oct 2006, 16:01
WOWWW!! Well let me congratulate you :-D

Dude if I had this score, oh man I would be in heaven and would not even think about retaking the exam. But I believe that everyone is different and people have different backgrounds. There are some people people like Pelihu who have given stellar performances, but again they had different reasons. I think your profile is damn good, other experienced members can better comment on it :-D

All the best for your apps, party it up and get wasted :wink:
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 [#permalink] New post 03 Oct 2006, 16:03
I'm a little confused.

Do you need advice as to whether you should retake GMAT with a 750, or do you want advice on what you target for your school list?

In any case, I don't really understand why you would want to re-take at 750 - which is 99% already.
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 [#permalink] New post 03 Oct 2006, 16:13
well both,

i would like to find out which schools should i target for mba

and whether i should retake it if i decide to apply to Master of Finance programs (they care about overall score and Q score, and my Q is only 48)

cheers!
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 [#permalink] New post 03 Oct 2006, 18:19
lxa wrote:
well both,

i would like to find out which schools should i target for mba

and whether i should retake it if i decide to apply to Master of Finance programs (they care about overall score and Q score, and my Q is only 48)

cheers!


First...congrats for your excellent score...Just shortlist the schools of your interest and roll on with your apps...If I were you, I would have donated my GMAT books already..Just get on with the next steps dude...
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 [#permalink] New post 03 Oct 2006, 22:27
You say in your subject heading "I will retake it"; but then in your message you are asking whether you should re-take it? I don't know anything about the international schools and I don't know anything about MFE programs, but I'd bet money that 750 will put you in with the very best applicants at Vanderbilt and Brandeis.

If you were talking MBA at Harvard, Stanford or maybe Wharton, there might be value in a higher GMAT, provided you do at least 30 points better (the standard error range is about 30 points). At Vanderbilt and Brandeis? Don't be silly.

If there is some special reason why MFE programs look more closely at the Q score and if you believe your Q score is not competitive, then you may need to re-take it. I don't think anyone here has that information.

Typically, MBA programs look at your academic background as a whole - if you have a low GPA then a high GMAT can balance it out. If you have a high GPA then you might be able to get by with a slightly slower GMAT. The key is that once you establish your overall academic ability, there's little value in getting a higher score, especially (hate to be repetitive) at places like Vanderbilt and Brandeis. I have nothing against those schools and I have no direct information about them, but admissions to those places just aren't competitive when compared to the ultra-elites.

My personal reason of re-taking the GMAT was because I scored about 40-50 points lower on the real thing than in practice, and because my verbal score was substantially lower than any practice result that I had taken. I also have a non-quantitative backgroud and I wanted to show that I could compete with the "big boys" in Q.

BTW, I believe we have established that top score on Q right now is 51, so you can't get 52 even if you re-take it and score perfectly. Look, I'm not among those that believes there is anything magical about 700 or even 750, and I honestly believe that if you can improve by 30+ points, your application will in fact be more "eye-catching", but given the time commitment necessary to prepare for and take the test again, along with the possibility that you might not improve your score, I can't say that I agree with re-taking in your case. If you are sure that you can improve by 30+ points and if you are sure that the schools will recognize the difference, then it may be worth it, but otherwise, no.
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 [#permalink] New post 03 Oct 2006, 23:46
Is this post a joke?

I'm no admission counselor but I think with your background you can safely target H/S/W/Anywhere you want.

And do yourself a favor, don't take the GMAT again.
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 [#permalink] New post 04 Oct 2006, 05:05
diegmat wrote:
Is this post a joke?

I'm no admission counselor but I think with your background you can safely target H/S/W/Anywhere you want.

And do yourself a favor, don't take the GMAT again.


Uhhh, yea. I'm going to have to agree. Go fill out your applications and wait for your acceptances.
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 [#permalink] New post 04 Oct 2006, 18:20
I appreaciate all the coments. I am really confused, and this post is definately not a joke.

On one hand i understand that 750 is a good score, but given my lack of full time experience after college I am not even certain if i should even bother with aps to top 10. I know that i have decent stats, internships, co-aps, leadership activities, etc, but i have hear so much about the importance of the full time work experience criteria, that i am seriously completely confused.

Anyway, thanks for all your responses, and i am hoping to get some more insider.

Cheers
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 [#permalink] New post 04 Oct 2006, 22:56
lxa wrote:
I appreaciate all the coments. I am really confused, and this post is definately not a joke.

On one hand i understand that 750 is a good score, but given my lack of full time experience after college I am not even certain if i should even bother with aps to top 10. I know that i have decent stats, internships, co-aps, leadership activities, etc, but i have hear so much about the importance of the full time work experience criteria, that i am seriously completely confused.

Anyway, thanks for all your responses, and i am hoping to get some more insider.

Cheers


I understand the reason for your question better now. If you do not have any post-college work experience, that's a different story. Many business schools do not give serious considertion to people without a couple of years of full-time work experience. You can find this out on their websites, but Tuck, Michigan, Northwester and others admit virtually no students without at least 2 years (and generally more like 4 years) of work experience. A higher GMAT will not help you in places like these. Again you'll need to check the data yourself; I didn't pay attention to those stats because they didn't apply to me.

There are some schools that have been admitting "early career" candidates directly out of college. I think Harvard started it, but Stanford, Wharton & UCLA are among those that consider people directly out of college. Of course, all of these schools (especially H/W/S) are extremely tough to get into, regardless of what stage you are at, and it's also clear that only a small percentage of their students are admitted directly from college (maybe 3-4%). Without the traditional work experience, they look for high levels of involvement and other things. I would say that if you are attempting to compete for these few dozens seats at HWS directly out of college, a higher GMAT score would in fact help your cause. There's just not that much data on this subject though.

It would probably help (and may be a necessity) to be named Trump or Kennedy, or have the words Rhodes or Fulbright around your name; at the very least mabye valedictorian and Princeton. 3.9 Magna is impressive, but given the competition here, it probably wouldn't stand out.
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 [#permalink] New post 12 Oct 2006, 06:00
pelihu wrote:
It would probably help (and may be a necessity) to be named Trump or Kennedy, or have the words Rhodes or Fulbright around your name; at the very least mabye valedictorian and Princeton.


Pelihu, could you please explain what "be named Trump or Kennedy" and "Rhodes or Fulbright" means? Are these some US academic awards? Never heard of those, so just wanted to clarify... Thanks!
  [#permalink] 12 Oct 2006, 06:00
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