Yes absolutely a higher percentage of women applicants get in than male applicants--there are far more male applicants vs. Female applicants to b-school. Not sure what the percentage acceptance rate for women is, but yes it's higher. You bring up a good question, and that is about employability. While b-schools will like your story and turn your work at home into a potential advantage for admission, recruiters will also have to be convinced that you bring value to the table despite the gap in your employment. B-school should bridge the gap, especially if you do a full time program and work an internship between your first and second year, but keep working on your story and how you developed skills as a full time mother that will make you a better employee. To the GMAT GPA question, yes a good GPA from a good school can help shore up academic concerns that a low GMAT raises, but your GMAT is not low if it comes in at 650. Look at a school's 80-percent range, not at their average GMAT. Hope this helps.
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Bryant Michaels
Admissions Consultant