URGENT HELP Required GMAT 630 :(

Question

Hi
I took my GMAT on 6th sept and scored an unexpected 630 (was expecting more)!!
Q 50, V 25

Profile: 
-3 yrs experience till date. (will be 4yrs when joining MBA in 2013)
-Worked with firms like Accenture (2yrs), Deloitte (6months), Infosys (since 6months till present)
-Passed B.Tech. from average college in India with GPA 8.2/10
-Primary target: US Schools, Full time MBA (starting 2013)
-Want to move into finance sector (MBA in finance) and will be applying for CFA Level 1 once done with MBA processes.

Kindly answer my below queries: 
1. Should I retake GMAT?
2. Are there any schools I can still apply to and hope for acceptance (along with RA/TA/Fellowship)?
3. My first thought after getting the score - retake somewhere Oct end and apply for R2....Makes sense? (is it still possible of getting RA/TA/Fellowship)?
4. I am not afraid of second attempt but if I have chances of getting into a decent school along with financial support (again RA/TA/Fellowship), I don't mind. Comments?

Welcome all thoughts/comments/advise!!
Peace

egmat · Answer

Dear Aditya,

From my experience, R2 is not very different from R1 in terms of your chances of admissions. 9 year back I had applied in R2 and had received full fellowship from 2 schools. Moreover, many of our customers who applied in R2 and even R3 have received fellowships. However, all of them had scores above 700. Hence, I would recommend that you take the GMAT.

Now with a 630 you may get admission in some schools but your chances of a scholarship are very slim.

Check out our course if you do decide to take the exam again. We focus just on Verbal and have a very generous free trial.

Regards,

Rajat Sadana

adityaagarwal2001 · Answer

Hey Rajat
Thanks alot for the quick response....this totally makes sense.
I went through the link...i think i ll go with it.
Also had a talk with couple of friends .....going for second attempt

But again, i always like it safe.....
So can you please list a few schools in which i can apply with 630 (R1) and hope for fellowship?
By the time the decision will be released....i would have taken second attempt and then i could evaluate the situation (apply with new score if i get reject from the school(s) you suggest).

adityaagarwal2001 · Answer

Experts kindly provide me with the list of schools where I can expect fellowships with 630.

egmat · Answer

Dear Aditya,

There aren't very many schools that would give you a fellowship at 630. Here is the rule of thumb that I have. Take a school's mean and 80% GMAT score range. If you are in the top 20% and you have good credentials then you have a chance to secure a fellowship. Given that the median score for top 50 schools is in the 630 range, a scholarship from these schools is difficult. If you need a scholarship, I would recommend that you have a singular focus to improve your GMAT score.

-Rajat

adityaagarwal2001 · Answer

Status: GMAT 630, retake in Oct end.
Yesterday i received my toefl score 111.
Mind Set: It would be ok for me if i get accepted in average school with scholarship/fellowship. obviously would be better if the same happens in good school (for that i am retakin GMAT).
Ques1: How good the score is?
Ques2: I was thinkin of applying to some average schools and hope to get fellowship with these score! once i take my next attempt i want to apply to good schools (with the hope of better score) in R2. Reason for applying now to a couple of schools is that i feel the probability of getting financial support is more in R1. So i wud be on safe side. or i shd just apply at once after second attempt? Need expert advice on this!!

adityaagarwal2001 · Answer

Also, 
My gmat score 50Q 25V
so does the toefl score compensate gmat veb?
Need expert advice!!

egmat · Answer

Dear Aditya,

The answer is no. In my opinion you will not be able to get a scholarship from an average school. Here is what your mindset needs to be:

1. You will do your MBA just once. A good GMAT score will help you get to a good school.
2. A 700+ GMAT score increases your chances of a partial scholarship, saving you up to $50,000.
3. A 750+ GMAT score will definitely go a long way in ensuring you get into a top B-school and get some fellowship. This, in my opinion, is worth hundreds of thousands of dollars over your lifetime.
4. You will be proud to put a 700+ GMAT score on your resume as a differentiate. This is because the person recruiting you would have taken the GMAT and hence will be able to value your achievement.
5. You need a 700+ score if you want to work for the big 4 consulting companies.

I hope the above helps change your approach.

Regards,

Rajat Sadana

Uswetha · Answer

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URGENT HELP Required GMAT 630 :(

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