Starting with application: Opinion needed on profile

Question

Hi!

Please advice if i stand a chance with the following profile.

GMAT:  660(Q:47, V:34)
Engineering in I.T. (65%)

Work Ex:  24 months(By the time i start applying it'll be close to 28 months)
Currently employed as System Engineer in IT services sector. 
I have spent the entire time working in the retail domain.
a) I have been a part of design and implementation team working on a ‘Warehouse Management Software’ for a new hybrid model of retail stores.
b) Currently involved in e-commerce mostly browse side for a US retailer. Mostly worked on implementation, system integration and testing and documenting the work.
 
Goals:
 I'm not looking forward to switching industry.
Looking for “IT strategy and Consulting/Business Development” roles. Want to continue in the same IT/Tech sector.

What all schools do i stand a chance at with my profile? 
 UCLA(Anderson)
North Carolina(Kenan-Flagler)
Texas(McCombs)
Maryland(Smith)
Boston University
Minesota(Carlson)
ASU(W.P.Carey)
Arizona(Eller)

Also, please advice on how the chances of getting financial aid can be improved?
And if my current profile gives me a decent shot at securing aid.
Do i need to retake GMAT to improve my chance? 
What other schools can i look forward too which would be a better fit for me?

Regards

MBACrystalBall · Answer

>> Do i need to retake GMAT to improve my chance?

If you can, you should.

You don't want to be at a disadvantage within the general IT/Indian applicant pool where 700+ scores are pretty common.

Unlike other programs (MS, PhD etc), getting scholarships for an MBA program can be extremely difficult. The competition is fierce. With a relatively low GMAT, it becomes quite difficult to get one of those. You could try for the RA/GA kind of opportunities once you are on campus, to lower your debt burden.

>> What other schools can i look forward too which would be a better fit for me?

If you can get a higher GMAT score, then it opens up a whole new list of schools where you could be competitive. So I'll hang on to my response till I hear from you first on the GMAT part.

If you decide to go ahead with your current score, then you have to ensure that the rest of your application is stellar (specifically essays and recos).

papillon86 · Answer

Thanks for responding crystall ball.

I have a question...I have been hearing about bad job market in US and many of my friends have been unsuccessful in securing jobs post MBA. This puts me in doubt and makes me think whether i should go ahead and try for top b-schools by improving my scores but where securing a good aid is quite unlikely or i should go for average ranked schools where i can get good aid and the curriculum in IT is strong as well.

What would you advice?
For instance one of my friends cracked CMU Tepper last month without any aid which means a loan of 130,000$
and also cracked Boston University with 60,000$ in aid. I am aware that there a huge difference in brand names and repute but it's a big risk and the markets are so volatile you never know what lies 2-3 years down the line.

So here the thing about retaking GMAT.
If i retake GMAT now and also Toefl, i'll be left with a little over 2 months or preparing applications to meet round one for fall 2011.

What is a wise thing to do in your opinion?
Or am i on a wrong train of thoughts altogether? Please guide

MBACrystalBall · Answer

Business cycles are a part of life. There's not much that you or I can do anything to influence. What you can influence is what b-school brand ends up on your CV.

Boom and bust phases in the economy will come and go. Your school name will stay on your CV for the rest of your life. So I'd recommend going to the best school that you can get into.

Luck, capability and timing will play a role in the entire story. And if you are good, sooner or later you will repay your loan. If you don't get a job in the US, you might get one in Asia or Europe. If you were hoping to pay back the loan in 3 years on a fantastic US salary, maybe it'll take you 7 years on a not-so-fantastic (non-USD) salary.

It's also a matter of our appetite for risk. Most of us have never imagined that we'll be in so much debt. Exchange rates don't work in your favour if you decide to take the loan in USD and pay it back in INR or any other currency that's not at the same level of parity.

If you are sure you can submit a really strong application despite the current GMAT score. There are schools that have GMAT averages in that range as well. So it's a big platter to choose from.

If you are concerned about not being able to put in your best shot in a constrained 2-month deadline, go for it knowing that this might be your weakest link.

Start early and ensure that the rest of your components (recos, essays) are solid and bullet-proof.

If you need further help in your journey, let me know.

papillon86 · Answer

Thanks once again for advice.

I get the point.

Can you tell me if 660 is my best score and with my profile do i stand a good chance in the list of b-schools i mentioned
in the first mail.

Am i on the right track with that list and 660 or am i being a little ambitious considering some of the schools i mentioned?

Regards

MBACrystalBall · Answer

With the limited info that I have about you on this thread, here's my perception. This assumes your recos and your essays are top-notch, well-structured and well-presented.

UCLA(Anderson) - Stretch to Ambitious
North Carolina(Kenan-Flagler) - Stretch
Texas(McCombs) - Stretch
Maryland(Smith) - Practical
Boston University - Practical to Stretch
Minesota(Carlson) - Practical
ASU(W.P.Carey) - Practical to Stretch
Arizona(Eller) - Practical

Overall you seem to have a good mix there. Is there a common reason behind the choice or is it just GMAT based filtering? I hope it's the former.

With more data about your profile and a more detailed analysis this might change.

papillon86 · Answer

It's definitely more than GMAT based filtering crystal ball. But at the end i feel, a lot of it boils down to the GMAT score.

Here's how i went about the whole thing so far:
I had given myself last 2 months to take my school search to the next level. After i had my GMAT scores i started introspecting and came up with the " Why Mba? " clarity....i browsed through the wealth of info present on this forum
Talked to people for advice...and also did my SWOT

The i started narrowing down on the b-schools i could target based on their curriculum which had to be in line of course with what i wanted to do as well as on GMAT score and my work ex/Engineering

So having done that...next thing i have on my plan is to attempt a retake.
I haven't worked on essay's and recos yet.

Since you know a little more about me now, you may want to add something to your advice?
I'm working on my resume right now, i can send it across in a day or two if that helps you advice better?

Anyways I'll prepare over the next 2 months and probably get back on my status then.
Thanks for being so patient

MBACrystalBall · Answer

Glad to hear you've done your homework before shortlisting schools.

I'd be happy to provide more specific inputs based on additional data (including the SWOT analysis that you've already done).

Drop me a PM if you'd like to carry on with this discussion.

papillon86 · Answer

Sure. I drop you a mail in a couple of days.

Regards

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