MSF and MBA application differences?

A small point to be added is that for MSF they give a lot more preference on Quant score of GMAT. IF Quant score is in place then you have good chance as Verbal plays more important role in MBA or other MS degrees. Many a times if you have low GPA then the chances increase by differentiating your own profile with respect to others for eg start-up, sports excellence, or some interesting paper published etc.

MSF programs in Europe are very stats drive. GMAT, Class Rank, etc. This is because the students tend to not have developed careers and be fresh out of school so the only real way to evaluate them is from test scores. MBA's are experienced professionals and as you work, how you did in school becomes less important. Now that isn't completely the case since you need a good GPA and GMAT to get into the top programs, but work experience is a big factor as well.

In the US, some programs are more forgiving of lower scores than others. In the US, MSF programs are evaluated mainly on their ability to place students into sought after roles (mainly investment banking). Placements are a function of students being adults and able to network, interview well and convert a job offer. These attributes are hard to find out from test scores alone, so work experience can have a powerful impact on scores. GMAT is also going to be important as MSF programs are using that as a marketing tool (which program has the highest GMAT scores, etc). This hasn't reached MBA level insanity because there are no real US rankings of programs. Once that happens you will see GMAT become the primary applicant measure and average scores will start climbing up.

Diversity also helps as well (sex not race). These MSF programs are almost entirely male so qualified female applicants are in high demand.

Hope that helps.