Scored a 690 and very confused. Should I Re-take?

Question

Hi Experts,

I am an MBA-Aspirant and trying to tackle the GMAT beast. My first attempt at cracking it was in October 2014 where I scored a measly 610 but thanks to the power now given to me by GMAC, I was able to cancel the score. Also, the score was not a reflection of my preparation but a combination of work travel, timezone difference, fatigue and an upset stomach. 
Anyhow, I finally prepared well and took the test again a week back, and although I did great in QUANT judging by the level of questions I got, i ran out of time for the last 3-4 questions and had to guess. The same happened in Verbal where I guessed the last 2 questions. Finally the score flashed and I had got a 690.. off by 40 points to my target score of 730. I have a 46 ( 67% percentile) in Quant and 39 ( 87% percentile ) in Verbal. I scored a 6 in AWA and 5 in IR.
Now I am in a conundrum, I do have time to take the GMAT again, and I aspire to apply to the top schools. Some on my list include Kellogg Full time MBA, Booth Weekend MBA, UCLA weekend MBA and EDHEC Nice Paris. The running average for these schools currently is around the 720 mark. 
My questions: Should I consider re-taking the test and getting the 730? Or should i work on my applications and make up for the low score? Does the 67 percentile in Quant affect my chances? Does the high AWA help at all?
My fears: I already have one cancelled score, if I take the test the 3rd time and for some reason score below 690, it may completely destroy my chances. Because that would be tough to explain to the admission committee.

Some background info: I am an Engineer and completed by Bachelors in Engineering from one of the top 20 universities in India with a GPA of 3.6. ( Again a low Quant score is hard to justify I guess ). I have slowly worked my way to become a healthcare consultant and currently manage various projects for my clients. Please let me know what other information would help for you to help me out.

And if I want to re-take the test, i should do it now since I'm in the zone with my studies rather than doing it a few months down the line. I have been losing a lot of sleep over this, so any advice/ help would be greatly appreciated.

Thanks!

KarishmaB · Answer

Whether you should retake depends on your overall profile. A Health Consultant is a relatively rare profile so if you can convince the school of the unique skills you could bring to the table, your GMAT score may not matter. You might want to talk to a school specific admission consultant before you take a final decision either way.

If you do decide to retake, do it soon - fine tune your understanding of the topics in which you are weak and take within a couple of months. The chances of getting a score lower than 690 would be minimized in that case.

EMPOWERgmatRichC · Answer

Hi soumya86,

First off, a 690/Q46 is a great score (it's just shy of the 90th percentile overall), so you should apply to any School that you'd like to apply to. Since you've named some very competitive programs, you have to make sure that your OVERALL application is strong AND that you present yourself correctly. Working with an Admissions Expert would probably be a good idea.

When are you planning to apply to these Business Schools?

Another thing to consider is how this performance compares to your practice CAT scores...

1) How did you score on each of your practice CATs (including the Quant and Verbal Scaled Scores)?
2) Did you take the ENTIRE CAT each time (including the Essay and IR sections)?

GMAT assassins aren't born, they're made,
Rich

RichEconomistGMAT · Answer

Hi soumya86,

It sounds like you have a very strong profile in hand, so I agree with Karishma. Chat with admissions officers at the schools you're interested in to see if they have a range of GMAT scores they typically accept. Your 690 is a great score, but knowing the minimum score you'll need for the schools you're interested in will do two things: it will give you something to work towards and will (probably) help you relax a bit.

Best of luck!
Rich

SomG2016 · Answer

Thanks everyone for your kind words. 
I am starting to talk to some of the admission counselors at the various programs that I have targeted, and getting more insight into their GMAT requirements. It seems while 690 is not bad, the average admitted applicants have higher scores.

I am mostly leaning towards taking the test one last time, but worst case - if I score lower, would it affect my profile? Would the schools think that the 690 was a fluke? I am confident this won't happen but then there is the what if... and honestly that is my MAJOR concern

EMPOWERgmatRichC · Answer

Hi soumya86,

It's important to know how your Official Scores compared to your practice CAT scores; you did not include that information in any of your prior posts. How did you score on each of your practice CATs leading up to this GMAT attempt?

I assume that you know how to calculate an average, so if a Business School has an incoming class with an average GMAT score around 720, then that likely means that lots of those students scored below 720. Thus, your 690 should NOT be a "problem" as long as the rest of your application is strong.

Unless an Admissions Consultant (or Business School Admissions Officer) directly tells you that a retest is required, then you likely do not need to retest.

GMAT assassins aren't born, they're made,
Rich

OptimusPrep · Answer

I would suggest to take an online course with a score improvement guarantee and then re-take the GMAT. By doing so, you have no financial risk and still can improve your GMAT and therefore increase your chances to get accepted in a top school

Scored a 690 and very confused. Should I Re-take?

Prep Toolkit

Top 5 GMAT Debrief Videos

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards