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IB Recruiting and GMAT

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IB Recruiting and GMAT [#permalink] New post 27 Jul 2011, 20:16
I am about to start my first year at a top 15 school (NOT M7), and I'm trying to get an IBanking summer internship. However, I've heard some stories from people that GMAT is often used as a cutoff for interviews. I currently have a 690 (Q48, V37), will this be a major hurdle? should I retake the GMAT? Thanks a lot!
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Re: IB Recruiting and GMAT [#permalink] New post 28 Jul 2011, 17:52
bump... i know there have been some posts about gmat and the effect of it on recruiting, but nothing really seems to be too clear about someone who's on the border of 700. Will firms ask for gmat scores before you get an interview?
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Re: IB Recruiting and GMAT [#permalink] New post 29 Jul 2011, 06:05
Most have a cut-off of 7XX+ for closed interview. If you can bid for a spot then you should be fine.
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Re: IB Recruiting and GMAT [#permalink] New post 02 Aug 2011, 18:12
Its all about networking. Sure, a 690 could be better and 700 is the imaginary glass-barrier, but you could have an 800 - if you can't network and bring folk to like you, you are screwed. I would focus more on how you present yourself and working your network rather than putting time into increasing your GMAT score by, like, ten points.
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Re: IB Recruiting and GMAT [#permalink] New post 03 Aug 2011, 08:21
You don't even need a good GMAT score if you network well. Senior bankers care more about your skills and sociability than an arbitrary number.
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Re: IB Recruiting and GMAT [#permalink] New post 19 Aug 2011, 04:55
A current student at LBS once told me that I should definitely put my 740 GMAT score on my resume for post-MBA applications. Another student from another school told me that they do factor in GMAT score for candidates for MC and IB jobs. I'm planning to do MC as well and I look at it this way - the best things to have for these jobs are great relevant experience, great performance in the MBA, or great GMAT.
You gotta have at least some of these to get it, no?

I don't have the relevant experience, so I better prove myself in the classroom. I'd say GMAT is the least significant factor, but sadly, it is a rather raw test of how sharp you are when it comes to boring things like numbers and logic, which is what IB and MC gruntwork is all about. In the absence of other meaningful differentiating factors between you and the next guy, such as directly relevant experience, I can see them using GMAT score. That said, people have told me over and over again that once you get in the 700s GMAT score is just a check mark and no one will treat a 740 any different than 720.

However, if you've worked as investment banker pre-MBA, I'd imagine your GMAT score would be about as relevant as your highest score in tetris.
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Re: IB Recruiting and GMAT [#permalink] New post 19 Aug 2011, 12:31
Quote:
However, if you've worked as investment banker pre-MBA, I'd imagine your GMAT score would be about as relevant as your highest score in tetris.


Affronted. Your highest score in Tetris is very relevant, thank you. Sour grapes :P
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Re: IB Recruiting and GMAT [#permalink] New post 20 Aug 2011, 18:52
Doorknocker - I think you misunderstand. Of course having good scores in tests is better than poor ones. What is being said here is that a good test score is easily outweighed in Banking. MC firms love GMAT scores somewhat more but I question how long that will remain the case. I just don't see the correlation.
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Re: IB Recruiting and GMAT [#permalink] New post 27 Aug 2011, 09:54
Looks from all the discussion that I am going to have to pay more attention to the GMAT beyond "just crossing the 700"
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Re: IB Recruiting and GMAT [#permalink] New post 27 Aug 2011, 15:06
Okay I got another update. I had a one hour discussion with a top Canadian b-school fresh graduate. He got into great private equity firm which is what a lot of finance types fantasize about. He had quite weak pre-MBA history but kicked ass as an MBA student, and he scored 680 on GMAT. He told me that they look at your GMAT score for IB and consulting simple and plain, even though they didn't look at his because he thought it better not to put it on his resume. If you have over 700 I say advertise it, if not, it doesn't mean you are doomed but it's not a strength. And definitely, definitely don't split hairs about ten or twenty point difference on your GMAT. Save your nerves for later, trust me you will need them.
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Re: IB Recruiting and GMAT   [#permalink] 27 Aug 2011, 15:06
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