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Profile Evaluation - Indian - Banker

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New post 05 Mar 2020, 21:52
Hi, I need guidance on my profile and gmat score.

Gmat score - 690 (Quant - 47, Verbal - 37), AWA - 5 and Integrated Reasoning - 8.

I have close to 13 years of work exp across Corporate & Project Finance and Banking.

Currently, I am leading a team catering to corporate clients at an Indian Private Bank.

I have managed multiple companies / projects at the same time and also led cross functional teams.

I am mainly looking for a one year MBA program to get international experience and for career progression.

I am unsure if I should attempt to increase my GMAT score or apply with the current score.

I want to study in one of the top 30 B schools

Other Information:

12th score - 76%, Graduation (BIT) - 61%, Post Grad. (MBA IIT Madras- 2007) - 8.25 GPA.

Please guide me if I need to retake GMAT for Top 30? Also, if it's not required which schools would I stand the best chance?

Warm Regards

Neeraj Aggarwal

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New post 06 Mar 2020, 14:11
Hi Neer1983,

Thank you for your message. You've got a nice baseline when it comes to experience. The two main observations I have, however, relate to your work experience and GMAT score.

WORK EXPERIENCE

In the U.S., students at T30 full-time programs generally have an average of around 5 years of work experience, with a middle 80% range (10th percentile to 90th percentile) of 3 to 7 years or sometimes 3 to 8 years. Many European / non-U.S. full-time programs trend about a year older than that. Applying with 13 years of experience to enroll with 14 would make you an outlier by several years, which can often make full-time programs a non-starter. You could try to "convince" a 1Y program as to why a full-time MBA makes sense for you now, but it would likely be a big uphill battle. (Your chances would be helped by a higher GMAT score, in which case you might be able to convince lower-ranked programs to look past the work experience situation.) Short of that, Executive MBA programs or other mid-career MBA programs would be a better fit.

GMAT SCORE

On the GMAT side, reputable one-year programs like Cornell and NYU (to cite a couple of mid-T30 U.S. examples for reference) often boast average GMAT scores in the lower 700s. When we consider how crowded and competitive the field is for Indian applicants, I would say that even if you had a more conventional amount of work experience for a full-time program, you would want your GMAT score to be 730+ for schools like this... and that doesn't get you in, that just gives you a chance. (I'd normally say 740+ but we can give it a small haircut on the 1Y MBA side relative to the traditional 2Y MBA side.) As a work-experience outlier, applying with a below-average GMAT score is going to be even harder. As noted above, if you really want to look at full-time programs, even one-year, I think you're going to need your GMAT to do a lot of convincing (i.e., exist at a considerable premium to a school's average) to even have some chance that the adcom looks past the work experience status.

Again, you seem like you have some nice experience, so the challenge for you here is going to be finding the right fit from a school perspective... most likely an Executive MBA program, but really strong research could unearth a full-time / one-year program (often more obscure, and probably outside of the T30) that you like that has more open arms to mid-career professionals. I wish you the best of luck!

Kind Regards,
Greg
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New post 06 Mar 2020, 17:23
Looks like tough luck for me.

With my current schedule (both in office as well as in personal life) taking another month out for increasing my score is not feasible. Other things have priority over GMAT score.

What about schools like IMD? My research showed a significant number of higher workex students. Kellogg's 1 year also seems to have a median of 690 as per the website and the students do have a higher workex than the 2 year course.

Also, I have not really found any full time exec programs. Being from India, travelling for class room part of the curriculum would be tough.

Could you give some guidance?

Else do you have some guidance on alternate courses I might start researching which would provide me with an opportunity to work in Europe?

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New post 07 Mar 2020, 15:22
Thank you, Neer1983. I appreciate your follow-up. While I do think there are challenges here (and my apologies if the initial response sounded overly dire or blunt), I would, at the same time, encourage you to not get discouraged! You will need to put more work into school selection, though, and should be realistic about where your chances lie when building your strategy.

IMD's average work experience is 7 years, and getting in with 2x the average is usually a low probability event. Kellogg's 2Y average is 5 years, and 7 years is in the 90th percentile; the 1Y program trends a little older, but 14 years of experience is nevertheless a significant outlier. On the score side, folks applying from very crowded and competitive applicant pools (even with more conventional work experience ranges for full-time programs) are often encouraged to have GMAT scores that can be 30 or 40+ points above a given school's average. (For reference, you'll see schools in the U.S. T10-16 where the middle 80% GMAT range for all students is 670 to 750, and the middle 80% GMAT range for Indian students at the same school is 730 to 780.)

This doesn't mean that you "can't" or even "shouldn't" apply to an IMD or a Kellogg 1Y program if you really like them and want to give a try. It does mean, however, that schools like this should occupy very few slots in your overall strategy and should be viewed as significant reaches. With the core of your strategy, I would encourage you to identify and build around programs where your work experience average aligns and, if they are programs outside of India, where your GMAT score trades at a premium or significant premium to the class average. (The more of an outlier you are on the work experience side, the more of a premium you will want on the GMAT side.) And these obviously aren't the only factors. You will still want to execute extremely well across other elements of your application, as covered here: https://www.avantiprep.com/blog/the-mos ... on-process.

As an example of the above, you might look a little bit further (on the U.S. side) into one-year programs like Pittsburgh (Katz), Southern Methodist University (Cox), University of Florida (Warrington), Babson (Olin), Pepperdine (Graziadio), or others. These are one-year full-time MBAs where you would (very likely) still be a large work experience outlier, but where you might find that your GMAT score is strong enough relative to the program's average to make you competitive (along with strong applications and rationale for "why MBA" at this juncture in your career). The degree to which your GMAT will be advantageous will vary according to the school (e.g., more so at Pittsburgh, less so at SMU). You will also identify other one-year programs that rank between these and the Kelloggs and IMDs of the world (NYU Stern, Cornell Johnson, USC Marshall, Emory Goizueta, Notre Dame Mendoza, etc.), but given your work-experience outlier status, I would view these as reaches, ranging from "significant reach" to "reach" (in roughly the order I've written them).

I also realize the visa challenge with Executive programs if you are looking to study outside of India. There are a couple of mid-career full-time programs out there that you can look up, such as USC's IBEAR program. That program carries an average work experience level of 10 years and an average GMAT of 630, so it could be an interesting one for you to look into: https://www.marshall.usc.edu/programs/m ... ss-profile. (It's a pretty small class, so just because your GMAT is above-average doesn't mean admission... you would still need a very strong and differentiated application across all of its dimensions.) The MIT Sloan Fellows program is another of this ilk (average work experience of 14 years), but note that it is regarded as more elite, so please consider it as such when you build your application strategy: https://mitsloan.mit.edu/mit-sloan-fell ... 20-profile. Finally, I would encourage you to look at European programs where your work experience aligns and GMAT score trades at some premium to the class average; those are a little more obscure than I usually deal with, so the research lift is going to be a little heavier for you there.

Thanks!
Greg
_________________
Greg Guglielmo
Founder | Avanti Prep
MBA Admissions Consulting
Sign up for a Free Consultation!

To better understand how I work with clients and what they've historically felt were the major benefits of partnering, I encourage you to read through my Client Testimonials, all of which are independently verified by GMAT Club. I believe you'll find the reviews to be among the most transparent and detailed out there, and I believe you'll observe a unique level of time, depth, quality, commitment, attention to detail, and personal care. For serious inquiries, I am happy to connect you with former clients so you can hear about their experiences.
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Profile Evaluation - Indian - Banker   [#permalink] 07 Mar 2020, 15:22
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