Thanks for posting such a thorough analysis of your profile, background, and strengths and weaknesses... it is helpful in gaining a deeper understanding of what you'd be presenting in an application, and it also has demonstrated that you seem to have a good feel already for what the pros and cons of your profile are (which shows self-awareness and analysis, both important).
I agree with your assessment for the most part. For example, the strengths of your application are:
-solid quantity/quality of work experience with leading banks/institutions; also expected that you have a certain level of quantitative and analytical ability based on those experiences (note: yes can help with that lower quant percentile, to a certain degree, especially if school really likes the rest of your application)
-entrepreneurial experiences, demonstrating innovation and determination, plus great learning experiences to bring to a b-school classroom discussion
-some international experience
-solid overall GMAT
-strong potential recs, and as you describe, potentially strong essays (which is crucial because the essays are where you have that chance to 'tell your story' so to speak prior to an interview)
-the military schooling could be a small point of interest/differentiation, even if you had to transfer out
-you seem to have a good starting point for describing your post-MBA goals; just be sure to support your choices with clear rationales of your thought processes/interests etc
-the lower GPA and lower GMAT quant, but I do feel that many of your other experiences and skills and application factors will help to offset these
I do believe your school list is appropriate, and congrats on getting into IE by the way, excellent program with a growing global reputation! I do believe that you would have a shot at the schools on your list including MIT, with the right set of essays and convincing reasons for WHY MIT or xyz school (which you have an initial feel for already). You have probably seen this, but here are some top-ranked logistics b-schools as per US News: http://grad-schools.usnews.rankingsandr ... s-rankings
Sounds like you'll want to continue to do some in-depth research about exactly what YOU want out of a school as well (considering geographic region, alumni networks, class size and profile, diversity, curriculum, hiring profiles, etc). And the 'where' you want to work is a big factor in the US vs international decision too (i.e. if you are interested in working in Spain or Europe, it would certainly be easier to job-hunt over there while studying there. But not required, if MIT is your top pick for sure). Here's a link to our free e-book on choosing schools: http://info.mbamission.com/Selecting-Yo ... ram-E-Book
Please let us know how we can be of further assistance in terms of next steps. If you are interested in working with an admissions consultant, it is definitely a good time to sign up and get started, to work towards those early deadlines. A consultant can help you throughout the process, including for example brainstorming about all of your past experiences to determine which to showcase in the application; decide what key traits/experiences you want to be 'known for' in the application (similar to your key marketing messages for yourself); provide feedback for each essay revision you do (including not just feedback on details and writing but on the big picture of what you are communicating about yourself in each essay and in the set of essays as a whole); f
eedback on your resume; interview prep, etc. If you are interested in starting the conversation with a free 30-minute consult, you can sign up for that at: http://www.mbamission.com/consult.php
Let me know what other q's I can help with, and wishing you good luck on the process!