Well the fact is you're not going to get in on your test score alone it just won't happen...also, if you focus on the GMAT it's a bit of a risky proposition, unless you feel as though you are sure there's a lot of area for increase. There are a lot of people who Gamble and lose with the GMAT increase solution.
I do think that you need the bump up that score but if you fail to differentiate yourself through the actual application, no dice.
not just essays but even more importantly your CV and your recommendations (would you pay more attention to what others said about an applicant or what they said about themselves? Case closed)
So what I'm saying is there's no way to answer this question because app must be solid... is that is not in place nothing will happen, nobody pounds the table for a test score but they do for people who have reached them on an emotional level...become real to them... through their application.
however 720 is a bit cheeky for an Indian.. you're betting on the fact that there will be no other Indians with a similar or better profile who also have a higher test score. Tough odds.
If you need to wait until round two in order to achieve this then so be it, and then also take that time to bump up your score.
Yes overrepresented should apply Round 1 but if your application isn't ready you're just going to speed up the rejection process.
What I would honestly advise is that you wake up an hour earlier spend one hour per day on the GMAT, and then work on the essays in the evening. It's difficult to achieve the level of concentration needed for GMAT stuff after you have had a long day at work.
Hope this helps, your profile is really strong I'm interested and if it's articulated compellingly I think you have a good shot. Would like to see you have at least a 730 because the average at insead is now 711.. it's pretty high up there these days because app volumes, 45 vitriol is sending applicants to Europe essentially.
Also would like to mention that you need at least 75 percentile for each verbal and Quant , so not sure what your raw scores are or your percentile for each but keep that in mind.
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