Profile Evaluation + School Recomm + Retest Not Possible

Question

Hi

I have just taken my GMAT and TOEFL and need help to apply to the B Schools of my choice. My current job and family responsibilities dont leave me with much time ( I have a 1 year old kid ). Also retaking GMAT dosent seem a likely possibility because i took 2 weeks off for the prep from a scratch this time and it wont be possible again. So need help from you guys on how to go strategize on the applications so that i can secure an admission for Fall 2013. So here goes...

Age: 28
Acads: X - 78%
XII - 76%
Under Grad: Bachelor of Engineering (Computer Sc and Engg) 74% 
RGTU Madhya Pradesh
Post Graduation: PGDM K.J. Somaiya Institute of Management 
Studies and Research Mumbai (68%)

Have been a a consistant allrounder during my school, college and Post graduation. Have captained and played Soccer at school, district and state level. Active participation in debate and dramatics both during my school and college tenure. Have received ample certificates and recognitions for the same. During my post graduation my summer project was awarded the best summer project of the year in my college and was adjudged as amonst the top 5 summer projects in the country under the best summer project competition by Institute of Management Consultants of India. Subsequently i was offered a pre placement offer by the company for which i worked during my summers.I was the admissions coordinator for Somaiya during the first year.

GMAT Score: 670 (Q 47, V 35, AWA 5.0)

TOEFL Score : Awaited

Work Experience:

Jan 2012 - Present: Employed as a Senior Relationship Manager Energy Practice with Marsh Mc Lennan India. Marsh is the world's largest Insurance Broking and Risk advisory company based out of US. I am responsible for Insurance broking and risk consulting for energy clients (oil and gas) for Marsh India. I Manage Direct Insurance and Reinsurance Placement deals for Onshore and Offshore risks. Managing a team of 3 currently.

Feb 2011- Jan 2012: Business Analyst with iGATE Patni Computer Systems for the Insurance and Healthcare domain. Responsible for Bid Management, Insurance Domain Expertise, Go To Market Strategy Prepration and proposal submission for new business.

March 2008 - Feb 2011: Engaged as a Management Trainee and subsequently as a Assistant Manager and Relationship Manager with Marsh India. Acted as a broking and risk consulting specialist for Indian Multinationals for property / casualty and liability lines of business. Top performer in the team. Was fast tracked for promotions and received 2 consecutive promotions in 3 year and was slated for 3rd just when i left the organization. Responsibilities included contract analysis, due diligence, Insurance Solution structuring and placement in Indian and abroad through Indian and International markets. Managed a team of 2 Assitant Managers under me.

Additional Qualifications: 
1) Authorized Insurance Broker (IRDA)
2) Licentiate in General Insurance (Insurance Institute of 
India)
3) Certified Hardware Engineer

Some other salient features of my application:
1) Consistent performer and allrounder in School. Was the Head of the student governing body and recipient of various awards both in sports and academice during my school days.
2) Was responsible for new revenue generation of USD 120,000 during my second year with Marsh India and a total contribution of USD 450,000 which was roughly 60% of the team revenue.
3) Cooking and Travel Enthusiast.

Career Goals:
Though i already have an management degree from an Indian School which figures amongst the top 20 B Schools in the country, i have realized that the most important learning for an MBA is global exposure and the real learning happens through interaction and not teaching alone. During my previous MBA i did not have either the global exposure nor was i experienced enough to appreciate the relevancy of the concepts. However my management education allowed me to enter into the arena of financial services which would otherwise not have been possible. Four year's down the line when i look back at the learnings which were imparted i am able to make the connect to certain extent. However i have also realized that constant invigoration of education is an essential element to success. And today at this stage i have the pefect opportunity to blend my experience and learning with various other students from different parts of the world to achieve what i always aimed for, i.e the global exposure with a world class education. Post this MBA i would be looking to make a shift into the Strategy consulting as it would allow me leverage my risk management experience and the cutting edge education and use it appropriately.

My Queries are:
1) I want to apply for the top programs (Top 10 ideally) . However is my GMAT Score a big deterrent. How can i overcome this problem?
2) I was initially in favor of 1 year programs only, however most of these are based on Europe and the current job situation of Europe it not very encouraging. Which 1 year programs should i apply for now? 
3) I was evaluating the offerings of various admission consultants, however their costs are prohibitively expensive. The application fees itself is a significant burden on finances. In this situation what would be the best course of action on Essay's and Interview Prepration.
4) What are your views on my profile? I have no geographic constraints in terms of applying, but i just want to be assured that i get a well paying job post my MBA otherwise it defeats the purpose of this entire exercise as i have a decent paying job currently.

OasisGC · Answer

Hello, Your GMAT is on lower side, so i would have suggested you to retake. I would suggest you to give it a serious thought though. I am assuming now that you dont want to retake. 1) Top 10 programs of where US or non US ?. US top 10 programs -- these programs will be a stretch, I would suggest you to apply to 2/3 from 5-10 ranked schools with stellar essays and recommendations. non US top 10 programs -- LBS could be a stretch and INSEAD prefers candidates with strong international experience, so these two could be stretches. You may want to consider IE ( here you have option of taking their internal test as well) Rest refer to schools and check if you fall in 80% of range, and you will be fine. 2) For Europe -I would suggest IE and IESE only, the job market is down at europe. Are you planning to settle in europe post your degree or you want to come back ? 3) If you want me to help you in your application, i can, and its unconditionally FREE

. refer to my signature thread and let me know if i could be of any help to you. 4) There are so many aspects of doing MBA from different regions , broadly you can have your MBA from a) US b) Europe c) Asia d) Australia Every region has its own advantages and constraint. Let me know if you have any further questions

hammerlock · Answer

Hey thanks for your quick response and offer. I will be very greatful if you can help me out with the same. As for each of the points that you have brought out, i have tried to answer them chronologically:

1) The idea was top 10 US Programs. But as you rightly said they will be a stretch. Even i was planning to apply to a maximum of 3 programs in the top 10 count. For ROW i am critical about EU primarily because of the job situation. I would ideally like to work in the country i study in for some time. IE was initially in my high priority list but the recent unemployment situation in Spain makes me scared. Also the bias against non natives would make it even more difficult to secure a job post the course completion. I dont want to be in a situation where i will be investing a huge amount of funds (my savings, my parents savings and loan) and i am not able to supplement it with a well paying job.

Fost most of the schools in the 11-25 list i do fall within the mid 80% range. So i am thinking of focussing on these programs primarily. I also have a bias towards 1 year programs as i believe they will be lower in costs in terms of living expenses (tution is nearly the same with 2 year courses). Just to add i am also considering the top Canadian Schools as a good option. What is your opinion on the same?

2) I agree with your views on Europe, however is IMD Switzerland going thorough the same problems. It is one institution that i was looking forward to apply to.

3) I consider myself fortunate to receive such an offer from your end. I will be really glad if you could help me out with the process as i am ready to put in my effort but i would need direction.

4) MBA's from different regions:

US & Canada: Its my first choice because of the ROI involved. 
Europe: Has got amazing schools but the economic crisis scares me as explained above.
Asia: ISB, HKUST, NSU and INSEAD Singapore are the only choices that interest me.
Australia & New Zealand: I wouldnt mind taking a look at the New Zealand universities but i am really concerned on how much push they can add to my career. In addition the recent incidents in Australia make me and my family uncomfortable in terms of relocation to that country.

I look forward to your advice on the above points and how to tackle the respective issues? Is there any specific method you want me to follow for school selection and making the application? I am asking this as i am yet to begin the process of applying to the schools. Thanks for this effort on your part and assure that i will contribute in a similar way to GMAT Club when i can.

MBADecoder · Answer

Hi Hammerlock,

Chipping into your conversation- I think you have a good reason to do another MBA- want international exposure.

I understand from what you have written that taking GMAT is not going to be easy. But, as you are an Indian, competition is mostly difficult because of the number of Indians that apply to b-schools. In this situation, a good GMAT score can sometimes tilt the tables in your favour, all other things being equal. So, consider retaking it- especially if you think you can study for another 2-3 weeks at some inconvenience, but improve your scores by 30-50 points.

If you look at employment reports published by b-schools, you will see that they place maximum students regionally. So if you are seeking employment in the US/ Asia, then look at b-schools within these regions.

hammerlock · Answer

Hi MBAHelp

Your points taken, but there are some constraints which i cannot overcome. My current score is only with 2 weeks of preparation. I actually took 2 weeks off from work and my wife did the same so that she could take care of our kid. My 1.5 year old makes it really impossible to study with him around the house. Both these conditions cannot be replicated again thereby making it really impossible for me to attempt a retest. Also i am concerned that if i do take a retest with insufficient prepration i might end up lowering my score which will hurt me rather than do any good. So in light of all these things i have to a take a conscious call to apply with the present score.

MBADecoder · Answer

Hi Hammerlock,

Please don't get me wrong. I naturally have an objective view of your circumstances. But my question is- you are going to embark on a rigourous MBA path. Multi tasking, prioristisng, time management will soon become your best keywords. How will you manage the MBA rigor then?

Think of your current circumstances as a precursor to what you will face later (time- wise).

Anyways, like I had mentioned that many good b-schools will still look at your GMAT score leniently. However, if you are keen on applying to the top 20 US programs your scores may fall short, unless you have an otherwise spectacular profile and can present it spectacularly in the application.

MBADecoder · Answer

Hi Hammerlock,

Please don't get me wrong as I have an objective view of your circumstances. My question is: you are embarking on a rigorous MBA path, where time management and prioritization, will become your buzz words. How will you manage then? Think of your current situation as a precursor to your time at b-school, where you will always be juggling to get things done.

Anyways, there are many good. lower ranked b-schools that would be lenient about your GMAT scores. But if you are adamant on the top 10-15 US b-schools, then you would need an otherwise spectacular profile and a greatly presented application to make your mark with low GMAT scores.

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