I've applied to six schools - Ross, Fuqua, CBS, Chicago, Kellogg, and Stern.
Currently, I'm...
Dinged - Chicago, CBS
WL - Stern
Admitted - Ross
Pending - Kellogg, Fuqua
As promised, below is my success story. Although it's not quite over yet as I am still waiting for a few schools, I'm just overjoyed to know that I will be going somewhere this fall. I think it'll be a good encouragement for many people with low gpa, because my gpa was pretty damn low. I don't think many people can top that.
I graduated as an engineer with a 2.36 from an Ivy League school. I consider myself to be a pretty bright kid. Did well in high school and hence got admission to an ivy league school. However, while I was in college, definitely did not take advantage of the education. Instead I drank drank and drank....partied hard. Almost flunked out one semester. I still party but I think my priority is somewhat back on track
After I graduated, I realized I really really f'ed up my career because of my lackluster grades. Couldn't land an interview at any big reputable firm because of my low gpa. It was tough man... I made my life even tougher for myself when I decided that my passion was Finance and switched from engineering. The transition was not simple. I always knew that I wanted to get an MBA, but I decided to do a masters in finance because I figured that was the quickest way to start doing finance upon receiving my masters of finance and a good way to build an alternative transcript, hence killing two birds with one stone.
After my masters, I got a respectable consulting position at a top tier consulting firm, where I'm currently at. I have been with this company for almost 4 years now and got promoted once.
Sooo the point is.......sorry if I come off rambling a bit, but my point is low GPA can be overcome.
For me, it was
1) build an alternative transcript
2) score a 730 on the GMAT (I chose to talk to point 1 and 2 in the optional essay for all the schools I applied to. I talked about how my undergrad performance was not indicative of my ability to perform in a rigorous academic setting and stressed about my more recent performance in my masters program and gmat score are more relevant. I also talked about how I've matured over the years...)
3) get 5+ yrs of work experience
4) volunteer in 1 or 2 leadership roles at a few organizations
Hope this helps! Good luck!