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A low GMAT score does not automatically end your MBA admission chances. Every year, top business schools admit candidates whose GMAT scores fall below the class average — not because the score doesn’t matter, but because the rest of the application....
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02 Nov 2009, 14:10
Kudos
Bookmarks
Hello,
I appreciate any kind of advice for the following profile:
UNDERGRADUATE:
Age:27
Ethnicity: Turkish
B.S. Industrial Engineering, top school in Turkey
GPA: 3.14, Honors
Exchange Student for 1 semester at UIUC
GMAT:730
Other: ranked in top %0.01 percentile in University Entrance Exam
WORK EXPERIENCE
[*]2 years as an Analyst in a US Consulting Firm in Istanbul, Turkey.
Assigned in Management Consulting Projects for leading banks
Led client teams for Change Management activities
Business & process analysis
[*]1 year as an Options Trader for a multinational trading firm in Amsterdam, Netherlands
Pricing and trading major European market derivatives.
Why did I switch to trading? : No problem in consulting. However, I figured out that financial markets are fascinating after I started working in Management Consulting. Hence I set up a goal, educated myself - no masters, certificates etc. - did some good networking and found a spot in Amsterdam.
Here is the tricky part: The job was contract based - the risk I had to take at the time - At the time of crisis, the contract was not renewed, I was out of job. However, I may get a good recommendation letter from the director.
[*]6 months as a Sergeant in Military. Serving my community was the best choice during financial crisis. I don't know whether it counts as work experience.
[*]Currently working for a small-local FX brokerage firm as trader & investment consultant
Position is home-office, profit-share based.
Developing and executing trading strategies for computerized systems.
Preperation of special research reports for clients.
Why am I underemployed?: I couldn't find a good job right after I completed military service. I thought it is better to be underemployed than unemployed. In this job, my duties are aligned with my future goals & expectations, and it pays my bills. However, I know that a paid consulting or banking job with no relation to financial markets seems to be more prestigious.
EXTRACURRICULAR
Exchange study in US.
Critics & Articles published in several university magazines. - Mainly on cinema and politics.
Joined Business Case Study Contest in a team of four at senior year - we ranked 1st in Turkey and represented our country in European Finals.
Former licensed under-16 soccer player - I quitted soccer for full-time education.
Former Member of Economists platform, a popular NGO in Turkey
FUTURE PLANS:
Get a Prestigious MBA, find a well-respected position in fund management, investment consulting or private banking, get experience & good connections to prepare myself for future leadership needed in enhancing Financial Markets Sector in Turkey.
WHY MBA?
MBA has always been one of the steps I want to take, especially after I decided to switch to Financial Markets sector. I thought it was better to get a technical experience first, then combine this experience with MBA education to reach future managerial positions. I believe a solid MBA education will provide necessary soft skills, organizational perspective that I may be lacking of. I also need to know the most enhanced business practices in order to implement or adapt them in my country as a future leader.
SCHOOLS:
Top 10 or 20 Schools, especially in New York or closer areas: Columbia, Cornell, and NYU. Maybe Chicago. I may consider applying lower-ranked schools, however only small number of schools - mostly top 20 - provide loans for international students. That's a big consideration.
WORRIES
I think the job-loss and my current position will look unappealing. I know a supervisory position in a well-known firm will be more competitive, however I think it's a waste of time if this position is not related to my future goals. What should I do?
No managerial positions, only leading client teams in projects.
I can only apply to top schools which provide loans for international students. I am not sure that I am competitive for these schools.
Thank you for your time and suggestions.
I appreciate any kind of advice for the following profile:
UNDERGRADUATE:
Age:27
Ethnicity: Turkish
B.S. Industrial Engineering, top school in Turkey
GPA: 3.14, Honors
Exchange Student for 1 semester at UIUC
GMAT:730
Other: ranked in top %0.01 percentile in University Entrance Exam
WORK EXPERIENCE
[*]2 years as an Analyst in a US Consulting Firm in Istanbul, Turkey.
Assigned in Management Consulting Projects for leading banks
Led client teams for Change Management activities
Business & process analysis
[*]1 year as an Options Trader for a multinational trading firm in Amsterdam, Netherlands
Pricing and trading major European market derivatives.
Why did I switch to trading? : No problem in consulting. However, I figured out that financial markets are fascinating after I started working in Management Consulting. Hence I set up a goal, educated myself - no masters, certificates etc. - did some good networking and found a spot in Amsterdam.
Here is the tricky part: The job was contract based - the risk I had to take at the time - At the time of crisis, the contract was not renewed, I was out of job. However, I may get a good recommendation letter from the director.
[*]6 months as a Sergeant in Military. Serving my community was the best choice during financial crisis. I don't know whether it counts as work experience.
[*]Currently working for a small-local FX brokerage firm as trader & investment consultant
Position is home-office, profit-share based.
Developing and executing trading strategies for computerized systems.
Preperation of special research reports for clients.
Why am I underemployed?: I couldn't find a good job right after I completed military service. I thought it is better to be underemployed than unemployed. In this job, my duties are aligned with my future goals & expectations, and it pays my bills. However, I know that a paid consulting or banking job with no relation to financial markets seems to be more prestigious.
EXTRACURRICULAR
Exchange study in US.
Critics & Articles published in several university magazines. - Mainly on cinema and politics.
Joined Business Case Study Contest in a team of four at senior year - we ranked 1st in Turkey and represented our country in European Finals.
Former licensed under-16 soccer player - I quitted soccer for full-time education.
Former Member of Economists platform, a popular NGO in Turkey
FUTURE PLANS:
Get a Prestigious MBA, find a well-respected position in fund management, investment consulting or private banking, get experience & good connections to prepare myself for future leadership needed in enhancing Financial Markets Sector in Turkey.
WHY MBA?
MBA has always been one of the steps I want to take, especially after I decided to switch to Financial Markets sector. I thought it was better to get a technical experience first, then combine this experience with MBA education to reach future managerial positions. I believe a solid MBA education will provide necessary soft skills, organizational perspective that I may be lacking of. I also need to know the most enhanced business practices in order to implement or adapt them in my country as a future leader.
SCHOOLS:
Top 10 or 20 Schools, especially in New York or closer areas: Columbia, Cornell, and NYU. Maybe Chicago. I may consider applying lower-ranked schools, however only small number of schools - mostly top 20 - provide loans for international students. That's a big consideration.
WORRIES
I think the job-loss and my current position will look unappealing. I know a supervisory position in a well-known firm will be more competitive, however I think it's a waste of time if this position is not related to my future goals. What should I do?
No managerial positions, only leading client teams in projects.
I can only apply to top schools which provide loans for international students. I am not sure that I am competitive for these schools.
Thank you for your time and suggestions.
03 Nov 2009, 18:47
Kudos
Bookmarks
Icecold
You're welcome. Let's discuss your concerns:
1. Given your academic stats, earlier positions, and reasons for current position, I think you still have a shot at the programs you mention. Also realize that military experience is highly valued by business schools and that there are not tons of applicants from Turkey or Europe, which will help you. Finally, the school all know about the recession and probably would agree that underemployment is better than unemployment.
2. School are less interested in managerial titles than leadershipresponsibility. Leading teams shows leadership. Serving as a sargent should also have given you opportunities to show leadership. Please see Admissions Wants Leadership Not Labels.
I think you should apply and in parallel continue to seek a position that is more competitive and supports your long-term goals. If you can only find a position in consulting, realize that such a position doesn't harm your b-school admissions chances or post-b-school employment chances in trading; it just doesn't advance them -- something that may be difficult to do at the moment. IF we can be of help with your MBA application, please let us know. We just started a new special for R2 MBA applicants.
Best,
Linda
04 Nov 2009, 17:01
Kudos
Bookmarks
Linda,
Thank you very much for your encouraging advice.
I have one more question if you don't mind. From whom should I get my recommendation letters?
Since my old company is bankrupt, it may be hard, not impossible, to contact with the directors - e-mail adresses aren't useful, phone numbers are changed - Is it really necessary to get recommendation from them, or bankruptcy more or less tell the story? - Though, that happened few months after I had laid off.
And should I get a recommendation from my current employer, although I am underemployed and my current company is small and local? Or should I get a recommendation form managers of well-known US consulting firm for which I worked for 2 years?
I really appreciate your suggestions on this matter.
Thank you very much for your encouraging advice.
I have one more question if you don't mind. From whom should I get my recommendation letters?
Since my old company is bankrupt, it may be hard, not impossible, to contact with the directors - e-mail adresses aren't useful, phone numbers are changed - Is it really necessary to get recommendation from them, or bankruptcy more or less tell the story? - Though, that happened few months after I had laid off.
And should I get a recommendation from my current employer, although I am underemployed and my current company is small and local? Or should I get a recommendation form managers of well-known US consulting firm for which I worked for 2 years?
I really appreciate your suggestions on this matter.
