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30 Jul 2004, 21:41
Kudos
Bookmarks
Dear Linda,
I am a prospective MBA applicant, who just took the GMAT today for the first and only time, with the following profile/credentials:
Age: 33 (will turn 34 near end of year)
Unofficial GMAT Score: 710 (95%), Q47 (82%), V40 (91%)
Undergrad. GPA: 3.6, BS Mechanical Engineering, Stanford University, '94
Work Experience: 10 years
- 1994-2000: Worked as an engineer with power utility on island of Dominica in Caribbean. Managed a team of approx. 25 employees over a two year span in the hydro-electric plant. Highlight: Worked on development of major power expansion project for three years.
- 2001-2002: Worked for water utility on island of Dominica as a project engineer during construction phase of major water and sewerage treatment plant project.
- 2002-2003: Joined Colgate-Palmolive (CP-Dominica) as the engineering services manager for the manufacturing plant/subsidiary in Dominica. Managed project and maintenance teams of approx. 30 people.
-2003-Present: Left CP-Dominica to return to the US to work. Joined Con Edison (gas & electric) utility in New York. Currently work as a customer project manager monitoring, controlling and overseeing major gas and electric service projects. No direct reports, but coordinate work of others.
Before I took the GMAT, I was thinking that I would target NYU's part time program, which would allow me to remain working at Con ED. Based on my score, my credentials and the fact that I am an under-represented minority (Does this still matter? I am a US legal permanent resident, so I get to indicate that I am US black when I apply to schools), I am now thinking that maybe I should target top full-time programs.
I need to weigh the cost benefit though. I would have to forego two years of income - which currently stands at $85,000 annually - and, most likely would need to indebt myself by an additional $40,000 or so in student loans.
I guess my first question to you is, what are my chances of acceptance to a top 5 school, specifically Wharton or Harvard? Second, if I were accepted, would it make sense from a cost-benefit standpoint to forego income for two years (which will probably be $90,000 in two years) to potentially earn maybe $100,000 after I graduate. Do you think that, were I to graduate from a top 5 program, I would be able to leverage more than $100,000 based on my experience.
I hope I am not rambling too much. My interest in doing an MBA at this point is to develop my general management, finance and leadership abilities specifically for career enhancement. I am looking to progress my career either within the electric utility business or the manufacturing sector - if I decide to go back.
Your advice is greatly appreciated.
Thanks,
John Karam
I am a prospective MBA applicant, who just took the GMAT today for the first and only time, with the following profile/credentials:
Age: 33 (will turn 34 near end of year)
Unofficial GMAT Score: 710 (95%), Q47 (82%), V40 (91%)
Undergrad. GPA: 3.6, BS Mechanical Engineering, Stanford University, '94
Work Experience: 10 years
- 1994-2000: Worked as an engineer with power utility on island of Dominica in Caribbean. Managed a team of approx. 25 employees over a two year span in the hydro-electric plant. Highlight: Worked on development of major power expansion project for three years.
- 2001-2002: Worked for water utility on island of Dominica as a project engineer during construction phase of major water and sewerage treatment plant project.
- 2002-2003: Joined Colgate-Palmolive (CP-Dominica) as the engineering services manager for the manufacturing plant/subsidiary in Dominica. Managed project and maintenance teams of approx. 30 people.
-2003-Present: Left CP-Dominica to return to the US to work. Joined Con Edison (gas & electric) utility in New York. Currently work as a customer project manager monitoring, controlling and overseeing major gas and electric service projects. No direct reports, but coordinate work of others.
Before I took the GMAT, I was thinking that I would target NYU's part time program, which would allow me to remain working at Con ED. Based on my score, my credentials and the fact that I am an under-represented minority (Does this still matter? I am a US legal permanent resident, so I get to indicate that I am US black when I apply to schools), I am now thinking that maybe I should target top full-time programs.
I need to weigh the cost benefit though. I would have to forego two years of income - which currently stands at $85,000 annually - and, most likely would need to indebt myself by an additional $40,000 or so in student loans.
I guess my first question to you is, what are my chances of acceptance to a top 5 school, specifically Wharton or Harvard? Second, if I were accepted, would it make sense from a cost-benefit standpoint to forego income for two years (which will probably be $90,000 in two years) to potentially earn maybe $100,000 after I graduate. Do you think that, were I to graduate from a top 5 program, I would be able to leverage more than $100,000 based on my experience.
I hope I am not rambling too much. My interest in doing an MBA at this point is to develop my general management, finance and leadership abilities specifically for career enhancement. I am looking to progress my career either within the electric utility business or the manufacturing sector - if I decide to go back.
Your advice is greatly appreciated.
Thanks,
John Karam
02 Aug 2004, 16:35
Kudos
Bookmarks
karamjd
You're welcome.
Perhaps the best way to proceed is to apply to NYU's part-time program and to the top five full-time program. Then see where you get financial aid and make up your mind.
Good luck!
