1. Yes, you should retake the GMAT. Your overall profile probably looks pretty good to these schools. But you really make it hard for any specific admissions committee member (that likes your overall profile) to be your advocate around the conference room table. When given the choice of two (more or less) equal candidates with similar backgrounds, they will always go with the candidate that has the higher GMAT score.
The good news is that you know what area of the GMAT you to focus on – your verbal score. It's just like any systems problem in engineering or mathematics. Once you isolate the unknown variable, you can most likely begin to solve for it. By the way, if you have to choose between studying for the CFA studying for the GMAT, pick the GMAT.
2. Do not withdraw your applications. Just let it ride. Just because you are defeated in spirit, does not mean that you should burn the whole house down. Just leave them in play and see what happens. Pray for a Hail Mary.
3. Schools never really favor re-applicants. In fact, I believe that re-applicants are almost always behind the 8-ball. The extent of this varies from school to school, of course.
Here is a fairly quick and dirty way of determining the specific school's appetite for re-applicants. Look at their application instructions to re-applicants. Do they want you to simply fill out one or two essays? Or do they want you to completely fill out the application, also providing an additional re-applicant essay? If they want the whole 9 yards, you know that they are more favorable to re-applicants.
Of course, you could always find that the school takes INSEAD's approach. They straight up tell some projected applicants to never, ever apply to their school again.
4. You and I already know the answer to this question. I am very motivated to say "yes, of course you should." I do believe that I offer insightful, honest and forthright advice. So if you want to discuss your own unique candidacy, please e-mail me at MBA@amerasiaconsulting.com
5. To be honest, I'm not really sure. The reason I am not sure it is because your post MBA goal is rather unclear. It almost seems contradictory. To me, "entrepreneur" means that you are going to start your own business or go work for a startup. However, you state that you want to be an entrepreneur for a consulting company. I used to be a management consultant before I was an admissions consultant. I still have no clue as to what you are specifically envisioning.
Well, I hope that my feedback helps you. Again, please e-mail me at MBA@amerasiaconsulting.com
if you would like to speak for about an hour (at no cost to you.)
I was applying to four schools for Fall 2012, Johnson, Kelley, Kenan-Flagler, Marshall. I am being dinged for Kelley and Kenan-Flagler so far while Johnson placed me on waitlist without the interview and nothing from Marshall yet.
All of them were applied in R2 and now I am panic whether I should prepare for re-apply next year.
My latest GMAT score was 640 (Q47, V 30, AWA 5.5) and that was the third time I took it. The previous GMAT was 620 (Q49, V25, AWA 4.5).
Working experience is: 2 years as a licensed banker with one of the largest retail bank in the US, 1 year as a stock broker with a mid-size local firm. Also, a comprehensive accounting contract experience for 1 year in San Francisco. Total years of experience are 4 years. In addition, received a promotion to become a registered client associate within the investment department back in Nov, majority assisting financial advisors on analysis report generation and client inquiry, not sure if this would help.
Academic: I was graduated from University of Arizona in the US as finance major in 2007, not an ivy school with a major GPA of 3.23/4.00.
Activities post-graduate: Being volunteer with different projects organized by the company, e.g., adopt-a-family, helping Salvation Army assist foster children, homeless family,etc.
Background: Chinese American, was born and raised in Hong Kong. Planning to re-take CFA level 1 in December this year. Short-term goal post-graduate plans to work in I-Bank as securities analyst for emerging market in the East Coast. Long-term goal plans to become entrepreneur for an advisory/consulting firm in HK. (Very typical and common goal)
I have updated with Johnson (Cornell) that additional recommendation will be provided no later than the first week of April and an updated resume will be sent with my promotion. Plan to re-take the GMAT, but no really ready to exceed 640 yet.
My question is:
1. Should I re-take the GMAT anyways?
2. Should I withdraw my rest of applications for this year? (seems like Johnson and Marshall are harder to get in compare to Kelley and KF)
3. If I do re-apply next year for the same schools, would they favor in re-applicants?
4. Should I consider consulting advice for schools? (Those are very EXPENSIVE)
5. If re-applying, what other programs should I consider?