Hi,

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?