I applied to a number of top business programs (all top ~15 or so) this past year and unfortunately did not have the luck I had hoped for. Out of the 7 I applied to, I got 6 dings and 1 waitlist after interview. The waitlist came from what was technically the lowest ranked/easiest of the programs to get into. Needless to say, I was pretty shocked. Below are my stats:
26yo American Male
700 GMAT (48Q, 38V) 5.5 AWA
3.49 GPA in Mathematics with a Chemistry minor from a smaller (~4k undergrad) private northeast university
5 years work experience (at matriculation) at a good sized Hedge Fund working in a back office role
Good college ECs and leadership, weak post-college ECs, decent work leadership experience and growth
Post-MBA Goal: Investment Banking
I don't think I'm a bad candidate in real life or on paper. My recommendations came from two managers who both think very highly of me. My essays were well edited, but I'm thinking they just weren't 'right'.
I'm currently studying to retake the GMAT. I was disappointed in the 700 (expected closer to 720) but taking it at the end of July, I felt my time was better spent on applications than studying to retake it last year. This year I figure I may as well try to bump it up a few points. However, I don't think that was the reason for my dings.
I know I need better ECs, and I'm going to try to get those started this month. My other thought was about hiring a consultant. Based on my stats, I think my essays have to be what didn't work, and that a consultant would help. My resume probably needs some fine tuning as well. The obvious downside to hiring a consultant is the cost. I really hate the idea of having to pay someone to guide me through this, but I also don't want to chance going another year without an acceptance. Does anyone have any advice?
The schools I (think I) plan to apply to will be: Columbia, NYU, Wharton, Chicago, Kellogg, Duke and Darden. Kellogg and Darden will be new this year, and replacing HBS and MIT.