Liquid
I'm not going for an extremely elite school, but the GMAT avg at the school is a 620. My background is odd in the sense that I did quite poorly in my undergrad (B avg over last 2 years) in Marketing/Communications Major, Business Admin Minor (was 5 years ago) as I just wasn't very motivated or mature at the time. For this reason, I think my GMAT will be all the more important. Also - I'm doing my CFA (L2) right now, so I hope that is looked on well.
I'm simply trying to determine whether or not I should really push to get my GMAT done a second time in the next week or so, and have all my apps in before April 30th for Sep-08 entry. Or would it be more prudent to wait for 09 entry?
Again, it really depends on your goals. Here's a decision tree I would propose:
1. Decide on GMAT. Have you studied? Do you feel you will do better? If the answer is no, don't waste your $250. Decision made.
If you think you can get your GMAT above 620 - and given your gpa, higher might be better - consider question 2.
2. Look at the schools you are applying to. Are you applying in their last round? If yes, consider question 3.
If no, proceed with process.
3. Is the school extremely competitive, given your stats, background, essay writing abilities?
If yes, you may want to save yourself some stress and the application fee and get ready for fall 2009.
If no, throw in an app. See what happens.
4. Overriding all of this is a question of where you are in your career and your general readiness for an MBA. I decided that there was no way I was sticking around at my job for another year. I just couldn't do it. I was going come hell or high water. For others, another year in the work world has plenty of perks, and they were willing to give it another go.
This is obviously not a complete decision tree, but I hope it gives you an idea of what you might consider.