Experienced 32yo with 650 GMAT. Which school?

Question

Hi everyone!

Quick overview:

-32 yo
-Russian
-Worked 10y for local asset managements
-Trader->Portfolio manager-> Head of AM team
Strong performance, funds under management in top 90-95% among peers(local equity market)
-Motivation: moving to the US(green card), investing enthusiast interested in the US stock/venture markets 
-Target industry/ role: hedge funds, long/short global equities PM, alternative: switch to VC.
-CFA
-GMAT 650(took 3 times, can't break it, scored in 650-710 range on mocks)
-GPA 3.8 from local Noname

Question: I know I have to break 700 to have a decent admission chance. But it's 650 and 3d round approaches. So no time to retake this admission season. And I want to give it a chance this year. Which school worth trying now considering my goals?

Really appreciate any help!

Admissionado · Answer

Hey dude, Well Round 3 is a nogo anyhow. The chances are too low. I would suggest buckling down and aiming for an all-our GMAT blast in preparation for R1 next year. Your profile overall seems pretty good, and you don't want to torpedo your chances by applying late AND with a low GMAT. If you want further help though it would be really really helpful to understand more about your work. After all, you worked for ten years!!! I mean that's gotta be worth more than a line

Plus it'll help us understand where you stand. Best, Jon

PaulBodine · Answer

volmond, Strong profile but given your GMAT score and the late round I think you're looking at finance schools such as Rochester Simon, Vanderbilt, Fordham, Boston College, Ohio State -- maybe Texas McCombs as a stretch. If you don't get in R3 you should try to raise that GMAT so both subscores are closer to the 80th percentile (have you used a GMAT prep company?). I would be happy to review your resume in more detail: paul@admitify.com. I have had good success with applicants from Russia. --Paul Bodine, Great Applications for Business School, www.admitify.com/testimonials

MBAPrepCoach · Answer

I agree that R3 and a lower GMAT score would put you at too much of a disadvantage, forcing you to apply to lower ranked schools, and that's not what you want to do, given your career goals.

Are you open to European schools? European schools generally have lower GMAT averages and place more emphasis on work experience (quality and quantity.) If you are looking to submit an app soon, and have at least a basic understanding of a third language, I would recommend Round 2 INSEAD for January 2018 term, due in six weeks. Excellent recruitment for finance.

Also, IMD, geared for older students like yourself, and the 80% range for GMAT is 620 and 750. LBS Round 4 is due April 21, 80% range for GMAT 660-750, so that is more of a reach, but definitely good for finance and also offers a 2 year program.

volmond · Answer

Wow, really good point, regrouping and preparing for strong application next R1 is a truly interesting idea, I was focused on this autumn because planned to move to the States this May-June (will lose green card otherwise) and doing the MBA straightaway seemed to be a perfect plan.
 I need to reflect about this. Thank you!

volmond · Answer

Thank you! Definitely a great way to go. But the desire to keep the green card limits me to the US schools

CriticalSquare · Answer

Based on your goals and your age, you don't want to wait too long. I don't disagree that you'll have a better shot retaking the GMAT and waiting until R1, but that doesn't mean you can't go after schools like McCombs or Ross in R3 now. The whole idea around waiting and applying in R1 later in the fall assumes that you're going to do better on your GMAT (which you will) and you'll apply to tier 1 (maybe a couple tier 2) schools. If you have the bandwidth and can commit to it, I don't see the downside of going after a couple programs now. If you'd like to chat about how we can help, feel free to reach out by signing up for a free consultation below. Best of luck!

StratusDonna · Answer

CriticalSquare · Answer

Hi Volmond,

Just to confirm, in reading your response above, it doesn't sound like schools outside the US are an option for you, right? Further, I know there is advice from others on this thread to go after an EMBA program, but to be frank, they're not going to get you to where you want to be. These are programs aimed at senior managers who show promise of climbing their corporate ladder to be an executive. Using an EMBA to move into extremely competitive fields such as a hedge fund or VC is an uphill battle. Hope this helps!

StratusDonna · Answer

CriticalSquare · Answer

On the full time side of the equation, if R3 doesn't go well, you still have another shot in the fall of 2017, and you'd be targeting different schools, so no concern of the re applicant issue. On the other hand, there is no coming back from fully committing to an EMBA right off the bat. If it's a true interest of yours, definitely reach out to others that have gone this route, and see what they say about their experience. Best of luck!

volmond · Answer

Thanks for great ideas! It's really helpful. So, I'll definitely try Columbia/Wharton/NYU next year with possibly higher GMAT.

And about this R3, how about trying GRE? I have 1-2 weeks to dive into it. May I have better chances with a 70-80 percentile GRE?

MBAPrepCoach · Answer

Yes I think that that's a very good idea. I was working with a candidate on an app, and he got something like a 620 on the GMAT, and a matter of like a week later he took the GRE and it was the GMAT equivalent of 720. Now I will preface that there was a Visa kerfuffle involved with the GMAT where he had to drive back home and I'm sure that his stress level was through the roof, but a hundred points is quite significant within that amount of time.

Strategically most people don't want to commit to a program until they have put forth their best showing to the top most preferred school. So for that reason I'm really not sure why would make sense to submit for round 3 when your test scores are not where they could be.

However if you're less picky about that and you are willing to throw in some apps the schools where you are GMAT is already within their 80% range, which is honestly very practical attitude, then might as well if you do have the capacity to do those to a high standard. The truth is that business was largely what you make of it and if you go to any top school you're going to have a really great experience if you leverage what's there.

https://MBAPrepCoach.COM

volmond · Answer

Well, scored V157/Q167 today on GRE. Obviously better than my GMAT. Given the fact that I spent only 4 days preparing not so bad. At least for me GRE seems to be an easier exam. Hope this will give a better chance for the rest of my application to shine.

Experienced 32yo with 650 GMAT. Which school?

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