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Should terp re-take the GMAT?

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agold
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Should terp re-take the GMAT? [#permalink] New post   Updated on: 27 Jun 2008, 16:23
Hey guys,

I just got done with the GMAT. I scored a 710 (93%) with a Q44 (72%) and V42 (95%). My current thoughts are that this score is good enough to get me into any of the schools on my list. However, I am still somewhat concerned and wanted to get everyone's feedback. I am not in any of the more competitive pools (I-Bankers, Consultants, IT guys, etc.). I am an American citizen who works in corporate development alongside the C-suite at a small healthcare company.

My original school list was:

R1:
HBS
Wharton
Chicago
UCLA
Haas

RD:
Columbia

I'm thinking of dropping Wharton and putting Columbia in as an ED application. I have read that Wharton likes to see at least 80% on the Quantitative section, and that is basically par for the course at Wharton. In general, I am not a super quant-oriented guy. In college, I received Cs in Calculus, but As in Statistics, Accounting, Investments and As in about 9-10 Economics courses. I have a 3.5 GPA from a large state school. Additionally, I do not feel that I would receive very many additional opportunities at Wharton compared to Chicago or Columbia, which are already on my list. Am I making a good move in deciding to drop Wharton from my list and move Columbia to ED status?

Since we have quite a large Chicago contingent on this forum - would anyone mind commenting on how Chicago would look at my GMAT score and my Quant courses in UG?

I would like to work for a bulge bracket investment bank in the IBD after graduation. Will this score, coupled with my poor UG calculus grades, harm me in any way when applying for jobs at BBs?

Lastly, I just wanted to state that regardless of the paranoid tone of this post, there is a 90% chance that I will not retake. I think the time would be best spent on essays at this point.

Originally posted by agold on 27 Jun 2008, 16:15.
Last edited by agold on 27 Jun 2008, 16:23, edited 1 time in total.
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Re: Should terp re-take the GMAT? [#permalink] New post   27 Jun 2008, 16:19
I also think you should now concentrate more on your essays and interview rather than rethinking about GMAT. This course is pretty good for getting admission in any school.
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Re: Should terp re-take the GMAT? [#permalink] New post   27 Jun 2008, 16:36
I think your time is better spent focusing on Essays at this point. At the top schools, I look at the GMAT like a hurdle. The key is to get over the hurdle by getting your GMAT score within the acceptable range (and 710 is definitely acceptable anywhere). Once you've done that, it doesn't really matter if you try to jump even higher. They're really only using it as a initial screen for applicants. What's going to count a lot more is how you craft your personal story in your essays.
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Re: Should terp re-take the GMAT? [#permalink] New post   27 Jun 2008, 16:47
I would tend to agree with the others. I think the ROI on the hours you'd spend getting that extra point or two on quant would not be as high as spending it on fine tuning your essays. Also, there is no guarantee that you'll even get a higher quant score when you retake the test however you can be pretty confident that spending an extra 10 hours per week on essays will improve them.
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Re: Should terp re-take the GMAT? [#permalink] New post   27 Jun 2008, 16:59
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I agree. No need for a re-take. A 710, 3.5 clears the academic hurdle at any top school. Time to get crackin on those essays. I've started working on mine.... it's fun. I know its hard to pick up sacrcasm on a message board...
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Re: Should terp re-take the GMAT? [#permalink] New post   27 Jun 2008, 17:14
Congrats! Nice score!

I tend to agree with the others here. Judging from your profile, you can put your mind at ease in regards to the gmat and focus on apps.
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Re: Should terp re-take the GMAT? [#permalink] New post   27 Jun 2008, 18:59
This is straight from the Chicago AdCom's mouth at my visit this past week, "We like to look at the overall score, although we like to see the 80-80 split, the overall score is more important."
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Re: Should terp re-take the GMAT? [#permalink] New post   27 Jun 2008, 19:05
terp, even if you get into a top school, your sub-80% Q may hurt you when recruiting for IB. I mean, you will be competing with some amazing folks at, say, chicago with top notch finance backgrounds. Chances are that the IB-focused folks will have much higher GMATs than chicago's average, and I believe BB IB firms are GMAT-whores in general. I am no expert in IB, but throwing this out there for your consideration.
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Re: Should terp re-take the GMAT? [#permalink] New post   27 Jun 2008, 19:31
ncprasad wrote:
terp, even if you get into a top school, your sub-80% Q may hurt you when recruiting for IB.


Can anyone confirm whether any firms actually look at the split? This is the first time I've heard this.
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Re: Should terp re-take the GMAT? [#permalink] New post   27 Jun 2008, 19:32
jb32 wrote:
This is straight from the Chicago AdCom's mouth at my visit this past week, "We like to look at the overall score, although we like to see the 80-80 split, the overall score is more important."


Phew
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Re: Should terp re-take the GMAT? [#permalink] New post   27 Jun 2008, 22:01
you could put in more work on it and still not improve significantly on your overall GMAT. I mean I received a 720 on a 48 42 split. That equals 4 extra points in Q for just a 10 point overall payoff..

My 2 cents - start looking at essays if you haven't already.
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Re: Should terp re-take the GMAT? [#permalink] New post   27 Jun 2008, 23:25
2 Questions :

-Do you think an increased score will enhance your chances at your dream school. You agree yourself that 710 is good enough to merit a chance at any of the top schools. If your personally not convinced, give it a retry and focus on your quant this time. This forum has brilliant guys like walker, who can be great help.

-Talk to ADCOMS, and students , in these schools . If you hear that your 710 is a detterent, due to a low Q , then give it a retry, although most of us here do feel, that its good enough, but its better to hear it from the horses mouth .It might increase your confidence , once you hear affirmative answers towards the score. Remember only when your convinced and confident about your application, will you be able to put those energies into writing a convincing application.

BTW What was your verbal strategy . Anything guidance for poor souls like us on gmatclub, on improving our verbal. Any tips or tricks, some verbal strategies that helped.

Best of luck towards your apps ... ( Personally , I think your good enough to apply anywhere , with a good application and make it , with a good GMAT score. :)
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Re: Should terp re-take the GMAT? [#permalink] New post   28 Jun 2008, 05:31
bsd_lover wrote:
you could put in more work on it and still not improve significantly on your overall GMAT. I mean I received a 720 on a 48 42 split. That equals 4 extra points in Q for just a 10 point overall payoff..

My 2 cents - start looking at essays if you haven't already.


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Re: Should terp re-take the GMAT? [#permalink] New post   28 Jun 2008, 11:31
I agree with bhatiagp - if you think your score will be a deterrent to admission at your dream school, retake. If you are comfortable with your score and think the time would be better spent on your essays, work on those.

At the end of the day, we all just have a finite amount of time to work on apps - only you can determine what the best use of that time is, whether it's working on essays, retaking, etc.

One thing that may help: if you don't get into your choice schools this year, are you open to re-applying next year?

cheers,
ac.
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Re: Should terp re-take the GMAT? [#permalink] New post   28 Jun 2008, 13:08
710 is a good score, you don't have to worry about that. I think I mentioned in another thread that you will want to demonstrate your A's in statistics and other "math oriented" classes to offset your lower Quant score and your c's in Calculus. Haas even has a specific question asking you to list all your math classes you've taken and the grades in them. I know Toga has been asked to take some calculus class just to apply (or something like that). Your quant score may cause some alarm, but if you have A's in other classes, you can explain it BRIEFLY in the Optional Essay 2.

I think you don't need to take the GMAT again, but you will want to have some good "I'm strong in quant" story up your sleeves for the optional essay. :)
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Re: Should terp re-take the GMAT? [#permalink] New post   28 Jun 2008, 14:34
Honestly I think the lower quant will hurt you are the hardcore finance schools if you are planning on going into banking. It is a safe bet to assume that most of the 700+ scorers at Wharton, Chicago, MIT, and other schools like that are going to be quant heavy not verbal heavy. If you are aiming at going into banking it also might give pause to them. I am of the opinion that the GMAT score is the one thing you can control (to a point) so if you are confident you would be able to increase it, retake.
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Re: Should terp re-take the GMAT? [#permalink] New post   28 Jun 2008, 15:49
oh yeah, my memory fails me, terp06, are you doing corporate finance or IB? If the latter, then you probably want a much higher quant.
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Re: Should terp re-take the GMAT? [#permalink] New post   28 Jun 2008, 17:26
Q45 here.... with worse grades than yours in undergrad.

I haven't recruited for IB (I have interviewed for finance related jobs though) , so grain salt apply.... but no one ever even asked me my GMAT score (though I know they look at least at the total), and certainly, no one ever asked me what the breakdown was.

I also cant recall ever seeing a resume that showed the breakdown. I personally don't see the sore being an issue for you - neither for admissions nor for jobs. If I were you, I'd invest my time in essays.
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Re: Should terp re-take the GMAT? [#permalink] New post   29 Jun 2008, 13:03
I agree with the majority here that your score will be sufficient for any industry/MBA program that you want to pursue.

As an additional data point, we reviewed a pretend application during my Chicago GSB Live visit. The applicant had the exact score that you have and a solid undergrad record. One adcom member stated that she would simply make a note of the Q score since it was a little below what most Chicago admits score, but most likely it wouldn't be an issue. The other adcom member said the GMAT score wouldn't raise any questions in her mind. So in summary, it depends on who reads your file but most likely Q44 will be acceptable anywhere. Oh, and the other notable comment from the event was from Rose Martinelli...she said "if you make a 690, do NOT worry about retaking the GMAT."

As for the breakdown during IB recruiting, I haven't talked to anyone who said the breakdown matters. Additionally, if you get into Chicago there is no bank that will question your quant abilities.
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Re: Should terp re-take the GMAT? [#permalink] New post   30 Jun 2008, 06:43
Your have a great score and it will get you in to those schools, so forget about it for now and start working on your essays.

If you are worried about your score for recruiting purposes, take the test again after you are accepted.
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Re: Should terp re-take the GMAT? [#permalink]
30 Jun 2008, 06:43
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