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gmatrocket
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fxMBAconsulting
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gcb09173
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dtse86
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I definitely understand where you're coming from.

Like Leah and gcb09173 said, the Masters GPA and high GMAT will help distance you from the undergrad GPA. I'd make sure you have some good leadership stories and EC's that can help you stand out.

I unfortunately wasn't able to get a clear admit at Kellogg or CBS (which has a great real estate program as well), but I at least got a waitlist.

For us with "ultra-low" GPA's, it's definitely an uphill battle at the M7 because the competition is so stiff. But I think you'd have a shot with a good story and strong reasoning for the school and an MBA.

P.S. I'm going to move this topic to the Admissions Consulting Forum.
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CriticalSquare
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So while what the other posters have mentioned is pretty accurate (a 3.8 Master's and a 730 are some awesome stats!) your GPA is still a significant data point. It is an apples-to-apples because not everyone has a Master's. And while your later stats show me that you can handle the curriculum, it leaves some questions. What happened in undergrad. What did you not do well in specifically. How will that translate? Sometimes, if you failed something really important, you might need to take additional coursework to balance it out. Coursework can also send a powerful signal that you're serious! Also, if you're underrepresented, that can help so keep that in mind.

So think ahead - think about how you can make the most of it. As gcb09173 mentioned, definitely address it but think of ways to strengthen it too. You are in good shape since then though!

Bhavik
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I agree with the other posters. Despite great Masters GPA and strong GMAT ,you will still need to explain your low undergrad GPA in the optional essay .