This is an amazing forum for b-school aspirants. I took the gmat yesterday and i scored a 690 (49Q, 34V). During verbal i developed a horrible headache. No, i am not trying to find excuses for a low verbal score. Well, coming to the point i am planning to apply for bschools in the 3rd round. I had some unexpected personal situations for which reason i could not apply in earlier rounds. I have GPA of 3.3 with a good college and 2 years of work experience in sales. I have the following questions.
1. Would i stand a good chance to get into rutger's business school mba. This program is ranked 55 by business week. Or a 690 on gmat would fetch me a still better ranked program?. Given that i have a below average work experience and that i am applying in round 3, do i stand a chance in getting into any of top 50 b-schools. Yes, I'm pretty sure you'd have a shot at Rutgers. However, this depends on what you want to do post-MBA. If you're gearing up for management consulting with M/B/B or investment banking with JPMorgan or Goldman Sachs, you need to try your best to get in the best school you possibly can get into, preferably top 16 schools. I'm not saying that you can't get to the job you want with b-schools outside of top 16, but why not maximize your opportunity if you can. Having said that, it will be a lot harder for you to gain admission to top schools for round 3, especially with only 2 years of WE.
2. Should i retake GMAT because i feel 690 is below my potential, in each of GMAT preps i averaged around 740-760, and apply for top 20 b-schools starting fall 2012. But that would mean a waste of another long year. I have already wasted 2 years being unemployed because of h4 visa restrictions in the US. If you're shooting at the 750 range, and think you can do it on a real exam, you should definitely go for it. Not only will this new score put you at a completely different range, but if you also combine it with one more year of work experience, you have a very realistic shot at top 10 b-schools in the nation.
3. Also, do recruitment rates vary drastically with business school ranks?.. Is it worth studying in bschools with ranks 50-100 This all depends on what you want to do. As long as the employer that you want to work for recruits from the school you attend, then you have a shot at an interview and an offer. Now, as you move up in ranking of b-school, you'll find more "prestigious" firms recruiting there, most noticeably in the consulting or banking industry.
4. Which mba concentration would be best for a person with engineering background and experience in sales (in an engineering firm). This question is too broad and probably can gain no answer. There's really no "major" in MBA, as opposed to your specific major in undergrad. There are, however, different classes that one can take (Depending on the school) that will expose you to additional insights/backgrounds for a specific track you'd like to get into. Again, using consulting as an example, Cornell has a "consulting focus" track that you can look into. There is really no difference though, because it really will only depend on you landing that interview and acing it.
I am too confused with the myraid of information in the web which only leaves me browsing unwanted stuff. I'd be glad if anyone could give me clean simple answers to my questions above. I really appreciate any advices.
As wp06 mentioned, it's very important to address your goals, but I've gone ahead and answered your questions in red above.