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pathrohan
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pathrohan:

What is the breakdown in your score of 315? Is it fairly balanced between V and Q or did you do significantly better in one component?

The posts above are correct as far as it's relative importance.

I believe a 315 should make you competitive for Rice (Jones), Indiana (Kelley) and, Wash U (Olin.) It's probably fine for Georgetown (McDonough) though that's a slightly more competitive program. If you are concerned, would you consider retaking the exam? You should have time and, because the school counts your highest test score, you have practically nothing to lose.

How does the rest of your profile look?

Let us know,
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pathrohan
Hi,

How much importance does the GRE score hold in our application? I have a score of 315. What are my chances for schools such as Rice, Georgetown, Kelley and Olin, who have average scores of 316, 317, 315 & 310 respectively.

Thanks.

GMAT/GRE scores are important, but don’t count yourself out if your score is not high enough. Remember that it's only one part of the puzzle. Adcoms are interested in learning more about what unique personal and professional experiences you can share in the classroom and how you will be a strong member of the MBA community.

Over the years we've helped many MBA candidates get admitted with GMAT scores below the school's average, as you can see here:
https://aringo.com/aringo-top-mba-gmat-results/