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AbeinOhio
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GMAT 1: 670 Q42 V40
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WE:Corporate Finance (Aerospace and Defense)
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Retake GMAT or Not (670)/ Full Time or Part Time MBA 22 Feb 2012, 07:53
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Hi All:

I am trying to decide whether it is worth it or not to re-take the GMAT. I studied for about 2 weeks and scored a 670 on the GMAT. On practice tests I was getting 700s consistently.

I have 4+ years of experience in Corporate Finance and am working full time at a Fortune 500 company. I did my bachelor's degree at Temple University in Philadelphia and graduated with a BBA in Finance with a GPA of 3.5.

I am also trying to decide whether or not to quit my job and go full time for an MBA or to go the part time route.

Eager to hear responses.

Regards,
Abe
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novanative
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Retake GMAT or Not (670)/ Full Time or Part Time MBA 22 Feb 2012, 08:19
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If you want to change career tracks, then you should go full time and try again on the GMAT.

If you like your current job field, a 670 is competitive for nearly every PT MBA. However, since I see that you're in Finance and at a large company, most of the applicants and students at most of the PT programs you are looking at will also come from Fortune 500 companies.

After that, many of them are likely in Finance as well (consulting is the other gorilla in the room), so it will be a little harder to distinguish yourself there, but your GPA is above average so that helps.
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fcvald01
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Retake GMAT or Not (670)/ Full Time or Part Time MBA 22 Feb 2012, 08:27
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Maybe do some research about you really want out of an MBA. But, getting a 670 in about two weeks is insane. Study for another month and crush the GMAT and then you can open up your options.
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method
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Retake GMAT or Not (670)/ Full Time or Part Time MBA 22 Feb 2012, 08:30
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Retake the GMAT and go to a FT program! :-D
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Consulting2Finance
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Retake GMAT or Not (670)/ Full Time or Part Time MBA 22 Feb 2012, 09:46
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I think novanative hit it right on the head. I think you need to decide between full time and part-time and that will inform as to whether or not you retake the GMAT. For PT (which tends to be less competitive) your score and GPA combination are certainly good enough. While as was stated you come from a well represented pool, I'm not sure how much this matters for PT. Most students in that program will be working for large corporations or in consulting as those are the companies likely to reimburse tuition and are companies where an MBA may be needed to advance in one's current company. PT really doesn't cater to non-traditional applicants.

If you want to change careers FT is the way to go. Moreover, if you want to change companies, the FT recruiting process is much more conducive to this.

For FT, while your score is still within the 20% to 80% range of most schools, it seems like 700 to 720 is the magic number for schools to "check the box." If you scored a 670 in two weeks of prep, you should easily be able to achieve that if you spend 6 to 8 weeks. I would encourage taking the test again as you will likely do better and the last thing you want to do is leave something on the table of your application.
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AbeinOhio
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Retake GMAT or Not (670)/ Full Time or Part Time MBA 22 Feb 2012, 09:56
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Thanks for the advice... I am planning on retaking the exam in April based on the feedback received.

At the moment, I am struggling with deciding about PT vs FT. It's hard to make a decision to leave a job making 85k to go back to school. If I am able to get into a top program I think the decision would be easier.