Find all School-related info fast with the new School-Specific MBA Forum

It is currently 16 Apr 2014, 11:49

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Unique profile - Family business heir

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
1 KUDOS received
Intern
Intern
Joined: 14 Dec 2010
Posts: 7
Location: Newport Beach, California
Followers: 0

Kudos [?]: 3 [1] , given: 0

Unique profile - Family business heir [#permalink] New post 20 Dec 2010, 23:28
1
This post received
KUDOS
I have been lurking here for the past couple weeks and just took the GMAT last Saturday, man I wish I saw this site earlier I would have studied differently (used Princeton Review).


Info: Age 23 at matriculation, Male, White American
Education: Private Schools Entire Life, Top 25 University (USC), Bad GPA 2.56, 650 (44, 35)
WE: 88 year old family business, been in general management at one of our locations ~100 employees now work at executive / regional level. 16 months worth at matriculation
Extracurricular: Mostly sport related (Sailing, Baseball leagues), Intramural stuff in college ---- How do they view stuff like that? Also did Habitat for humanity and Special needs camps in high school but nothing since.

Goals: Get an MBA that will help me lead my company in the future.

Schools: I am applying to some of the best (Stanford, Harvard, Yale, Wharton) as well as USC, and IESE ESADE and maybe IE in Spain. (Also open to any other suggestions about European schools)




I know my GPA and my (not bad) GMAT are not the typical profiles of many of the applicants, including many here. But I hope that my unique experiences and unique situational make me an interesting addition to a b schools class. And I am really applying for the education rather than the degree if you understand by what I mean.

If I don't get in anywhere it is not a huge deal for me, scarily I will still run a 30 million dollar company in about 5-6 years.


Also don't mean to sound like an arrogant a**hole or anything just sharing the reality of what I am facing. I'm going to do a search to see if there were any other members in my same situation.
Kaplan Promo CodeKnewton GMAT Discount CodesGMAT Pill GMAT Discount Codes
1 KUDOS received
Intern
Intern
Joined: 15 Dec 2010
Posts: 3
Followers: 0

Kudos [?]: 1 [1] , given: 0

Re: Unique profile - Family business heir [#permalink] New post 23 Dec 2010, 06:47
1
This post received
KUDOS
Hey,

I really hope someone pitches in with some good input, since I am facing a very similar situation.

brendo, are you aware of any schools that have course offerings in or a reputation for family businesses?

I guess schools with good courses in entrepreneurship would be useful, but I am wondering if any schools pander to the dynamics of running a family business specifically (how to deal with thorny issues such as recruiting, distribution of leadership/board and external audit positions, etc..)
1 KUDOS received
Current Student
User avatar
Joined: 07 May 2010
Posts: 731
Followers: 13

Kudos [?]: 84 [1] , given: 66

GMAT ToolKit User GMAT Tests User
Re: Unique profile - Family business heir [#permalink] New post 23 Dec 2010, 22:13
1
This post received
KUDOS
this is a unique profile for sure. We all know people can squeeze into top schools with REAL connections. Not saying you dont have that but lets be clear. Being buddy buddy with a professor isn't going to cut it. Unless you last name is Kennedy or Bush your numbers are really going to put you at a disadvantage.
I personally think you have no chance at the US schools you listed. Not trying to be mean, just going off what you got here....
Those numbers coupled with a below average amount of WE puts you at a severe disadvantage. That said the quality of your WE is pretty strong.
Thankfully you have a great future regardless of a top MBA.
If you had a 700 plus GMAT I think some schools in the top 20 might take a chance on you in a couple of years.
Maybe you can squeeze into USC now

Again I'm just going with my gut here.

BTW you're young why now? If you were 28 at matriculation I think your GPA would be that much less meaningful. If you were running the business at that age then who knows.

Either way i suggest you post this to each admission consultant for pro feedback.....Im curious as to what they say.
1 KUDOS received
Intern
Intern
Joined: 14 Dec 2010
Posts: 7
Location: Newport Beach, California
Followers: 0

Kudos [?]: 3 [1] , given: 0

Re: Unique profile - Family business heir [#permalink] New post 24 Dec 2010, 12:18
1
This post received
KUDOS
Thanks for the Reply Hendrix... I know that I am not the typical applicant, but I am in the range on most of their things so I think there is hope there.


Why now? If I honestly even wait another year I will be too entrenched within the company to be able to simple leave for 2 years to get my MBA.
1 KUDOS received
Current Student
Status: Matriculating to Ross!
Joined: 05 Dec 2010
Posts: 210
Schools: Harvard, Ross, McCombs, Mendoza
Followers: 2

Kudos [?]: 32 [1] , given: 15

GMAT Tests User Reviews Badge
Re: Unique profile - Family business heir [#permalink] New post 26 Dec 2010, 16:52
1
This post received
KUDOS
In addition to what Hendrix said, you're going to have to overcome several other significant obstacles to get into any of those schools.

1. Understand that you're near or below the bottom 80% of most of those schools applicants in both GMAT and GPA. The successful applicants I know with a weak GPA could counterbalance it with an excellent GMAT score and vice versa. Additionally, your weak GPA is going to weigh heavily on AdCon members' minds because you've graduated so recently. Anything you can do to help this, like getting an A in a calculus and stats class at a community college or re-taking the GMAT and getting a 720+ with a high quant score should help.

2. Your leadership experience is going to be suspect. I'm not sure how to counterbalance this, but you don't appear to have any outside of the family business. You've been doing that for about seven months now, and people are likely going to assume that you're in your position solely due to your last name. Can you point to any specific, significant accomplishments you've had as a leader at work? Your lack of leadership experience in college is going to make that worse.

In short, you come across as an applicant that, frankly, doesn't have a whole lot to offer the class. I'm not trying to be mean, but you have very little work experience, a poor (for the schools you're applying to) academic profile, and suspect leadership experience. You've got a long way to go to prove you're an admissible applicant.

Again, apologies if this comes off as harsh, but you have to successfully overcome each of those deficiencies to succeed and you've got two weeks to meet HBS's second round deadline.
Intern
Intern
User avatar
Status: Current Kellogg Student
Joined: 19 Aug 2010
Posts: 21
Followers: 1

Kudos [?]: 2 [0], given: 0

Re: Unique profile - Family business heir [#permalink] New post 27 Dec 2010, 18:32
I have met other family-business people here at Kellogg, but they had a number of years' experience already running the business. I would recommend spending a couple more years working on the family business before applying to b-school. Perhaps you can take a few courses at your local college and get a high GPA to address concerns about that as well.
_________________

B-School Nerd

Re: Unique profile - Family business heir   [#permalink] 27 Dec 2010, 18:32
    Similar topics Author Replies Last post
Similar
Topics:
New posts Profile Evaluation (Family Business) aesir2100 5 16 Nov 2009, 09:10
New posts Recommendation Letters: Family Business shravanjilla 1 19 Jan 2010, 04:20
New posts Family Business quandry sunilchandra 1 27 Jul 2010, 14:59
New posts Experts publish their posts in the topic Profile evaluation - family business experience? downeaster 1 06 Feb 2013, 20:02
New posts Experts publish their posts in the topic Profile evaluation - family business experience? downeaster 2 06 Feb 2013, 20:04
Display posts from previous: Sort by

Unique profile - Family business heir

  Question banks Downloads My Bookmarks Reviews Important topics  

Moderator: OasisGC



GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.