Hey
mkv30Good questions! I have a few answers and a few of my own questions for you!
On the IR of 4 issue: I think most schools are still figuring out how to use IR in their assessment of applicants. From what I've heard from the AdComs I know, the IR is really a deciding factor on the margin. That is, if you and one other candidate are fighting for the last spot and are otherwise equal in every regard, a higher IR score may tip the scales. I think with a solid 740 and GPA, you would be better served by focusing your energy on other parts of your application, and not on retaking the GMAT.
A few questions for you to better help assess your candidacy:
1. You listed "operations/marketing/consulting" as your post-MBA goals which, unfortunately, covers about 70% of the possibilities! You'll need to really narrow that down a bit if you want to focus on schools that excel in any one area. A well-executed application will have a clear story about where you've been, why you have done what you have done, and what is next in your career. Ambiguity this wide won't be convincing for the AdComs! Schools like Wharton are strong in all three areas, whereas one might argue that INSEAD is a Consulting paradise but less known for their Ops/Marketing prowess. Can you break down a little further what you are hoping to do post-MBA?
2. Your list of schools are all over the map (literally). Are you looking for a one-year program like INSEAD that is super heavy on the international business aspect? Or are you looking for a more residential two-year program like Ross where you will know each and every classmate and spend more time together? Additionally, if you have any employers in mind, take a look at how these schools place there as well.
I'd love to chat more via PM! Reach out if I can be helpful!