Retake GMAT or Apply to 1 more school?

Question

Hi guys I'm stuck in a predicament and need help making a decision. Ive applied to 3 schools in R1. 
Cornell - Ding 
Ross- Wait-list w/o interview
Duke - Interviewed- decision Jan 8th.

My work experience is pretty strong with a somewhat successful track record as an entrepreneur. However my GMAT is in the lowest 80% range of the schools I applied to.
At this point I believe I have 2 options. Either retake the GMAT in January for the 4th time and this time hire a private tutor to change my study method or apply to one more school before R2 deadline. If I do better on the GMAT it can help me improve my chances at Ross or even Fuqua if I'm waitlisted there. Another possibility is that I can apply to some M7 programs such as Tuck and Booth next year If i don't get accepted to any school this year. I was also going to retake the GMAT even if I get in so I can do better with recruiting.

I'm leaning towards Darden (although Im not crazy about the heavy workload) and I believe I can put together a pretty decent application before the Jan 9th deadline and also visit the school to make sure it's right for me. My dream school is Fuqua so even if I do better on the GMAT right now it will not change their decision.

Thank you

jumsumtak · Answer

Why can't you do both?

I mean, you only have 10 days left for R2 deadlines. Even if you are getting ready to study for GMAT, 10 days will not make a HUGE difference. (even if they do, its a trade-off - you get to apply to 1 more school and increase your chances of attending school this year)
I say apply to the school you want to and take the GMAT in Feb. This will help you strengthen your profile and you can apply to one more school as well. 
Also, don't try to take the GMAT in a hurry. Analyse how much time you have before most of the schools make a decision on the WL and time it well.

good luck and hope Duke works out great for you.

bond007 · Answer

Thanks for the response, I too thought about the option of doing both but didn't want to complicate this post even further.
As of today there are 18 days left to submit the app to Darden. Ross wants a wait-list status update by Feb 15th so I figure I can take the GMAT in late January or early February. I think I may be up for the challenge, but I'm pretty exhausted from R1

threestripes · Answer

I think you should definitely take the GMAT again if you feel that it is what could help you get over the hump. As for the potential additional application, make sure that it is a school to which you would go in case you get accepted and both Duke and Michigan reject you. Otherwise, just focus on improving your GMAT score... and then reapply next year if necessary.

navra · Answer

Getting good GMAT score is quite rewarding. Also, you are likely to use your gmat score even at school (for recruiters)

Dbalks · Answer

Bond, my advice is retaking the GMAT. We all know about the GMAT and how you can get into HBS with a 580, it just greatly increases your chances as your score goes higher. You aren't a walk on water candidate, but your candidacy is strong given your WE and entrepeurship abilities.

To be honest, your candidacy is a far more interesting story than mine. I feel like the game really would work in your advantage if you could somehow manage the 700+ range, and the schools would be lining up for you and itd be your turn to pick from them.

In all honesty, If I stuck with 670 on my gmat rather than retaking, my firm belief is that I wouldnt have gotten 1 interview, let alone acceptance. Another thought is that you might be from an overrepresented group. If you are, it is probably much tougher to get in with a low 80% range GMAT. Its unfortunate that it works the way it does in my eyes, cause knowing your posts on here, I am sure you put together very thoughtful apps and worked hard to get in. Best of luck if you do retake.

If you really dont want to wait another year though, Darden and retaking simulataneously is a good way to go. If you are willing to wait a year snd get the GMAT up, you could be looking at an "M7" school. Not sure what that means, but a top notch program. Best of luck!

bond007 · Answer

Thank you all very much! I have decided to focus on retaking the GMAT with the help of a tutor who will put me on the right track. No sense in applying to a school that I'm not too crazy about. I'd much rather take my chances on Fuqua and retake the GMAT instead. Worst case scenario Ill have a stronger application for next year.
Btw Im not sure if im from a overrepresented group or not - I'm an American citizen who was born in Europe and have a Dual citizenship

dentobizz · Answer

Well R2 deadlines for most US schools are on Jan 3rd and then some more schools finish R2 between Jan 8- jan 10. So can you get a great application together in about 10 days?

Seems very difficult if not impossible. So I agree with others who say that time for GMAT will be time well spent.There is no downside to it. If you can increase your score by 30+ by Jan end or Feb first week good for you it will help your WL status and chances @Duke. Even applying early in R3 to some other schools could be a option.

Retake GMAT or Apply to 1 more school?

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