It is far better to focus on differentiating yourself than trying to reach a "target" score. One of the most difficult things to overcome is the "overrepresented demographic." This often includes candidates from China, India, and Caucasian males in Finance. There are simply more people applying from these group vis a vis others so the stakes are higher. However, that doesn't necessarily mean your GMAT needs to be higher. It means your entire application needs to shine. You need to show how you are different from every other person applying from the same background.
Do you need to hit at least average if you are an overrepresented demographic? Most of the time - yes. Could the GMAT potentially be a tiebreaker between two identical candidates? Potentially yes. Schools want to keep their averages high so all else being the same, they are more likely to admit the candidate with the higher GMAT.
However, this is an unlikely scenario. The best way to distinguish yourself is to focus on developing your profile, taking on more projects at work, and increasing your participation in activities outside of work. If you are more than a year away from applying - think about how you can make yourself standout. Invest time in your interests. This wil pay off in spades and is far more important than continuing to study for the test.
At the end of the day, the GMAT is cost of entry. It can keep you out - it rarely gets you in.
Any questions, feel free to contact me at
pamela@jaffeadvantage.com.