Very low GMAT score 510..please advise what is best now

Question

Hi Friends, My score in GMAT is 510. Toefl IBT score 88.

Please advise me If I can get into a good Top b school in US or not. I can retake TOEFL but for GMAT I am nto sure whether I should take or not. If I plan to take GMAT again, I can take it not before 14 jan 2011 since I took it on 13 dec 2010, so atleast a month gap is necessary. Also, retaking GMAT will not not gurantee about how much will I score. Moreover, I am planning to go for FALL 2011(September 2011) session, so I guess if I retake GMAT might be I would miss most of the schools deadline. I have read about few b schools like MAY business scool (A&M univ), that they dont have any minimum GMAT score. So can I apply to MAYS and hows it as in is it a top b school? My Profile Details: Work Experience: 3 years 4 months in IT firm as a software Engineer. Currently working as a Senior software engineer. Education: B.tech (Computer Science Engineering) - 73% Hope to recieve a reply soon. Thanks & Regards, Rekha

psychodementia · Answer

Hi Rekha,

With your profile you will be dinged sure-shot in any top bschool. There is no option but to retake the GMAT. My suggestion is to not look at it from a time-perspective (i.e. take it within a month) but to look at it from a perspective of what you can do to change the score.

You need to have a solid plan that is backed by efforts in that direction.

All the best,

Arun

rekhapandey10 · Answer

Hi Arun,

Thanks a lot for your response.

I need one more advise.

Fee for MBA course from US would be approximately 40k US dollars for a year. So for 2 years it would be 80kUS Dollars.

How do people manage this much fee?

If I take loan of 20 lakh, is it easy to spend and survive in US or is it a big risk?

Please advise.

whiplash2411 · Answer

If you are looking at the top US universities, the average amount that a person spends on their MBA is around $100k. 20 lakhs is approximately $44,000 which is barely sufficient to pay the tuition and purchase your ticket from India to the US. Apart from that, living expenses will definitely add on to your expenses, just from personal experience, especially since you won't be able to work as you do your MBA. I think unless you have funds mobilized it would be a very risky move to just go ahead with this plan. And for any decent scholarship, you'll need at least a 700. Being an international student in the US is anything but easy.

rekhapandey10 · Answer

Hi,

I have got 41 in quant, 20 in verbal and 5 out of 6 in AWA.

with a good work experience.

Still i dont have any chance??

whiplash2411 · Answer

A 510 is a modest score, but it's still beneath the mean of the GMAT itself, and definitely below the average scores of most B-Schools in the top 50. If you're looking at getting into one of these schools, then I'm sorry if this is harsh, but I really think your chances of getting in with that GMAT might be limited. But again, this depends on what you want to do with an MBA and where you want to get it from. The median GMAT of pretty much all the schools in the top 50 are around a 600 or more at the very least. Take a look at the  B-School rankings on Business Week .

rekhapandey10 · Answer

Thanks a lot for your quick reponse....
do you think if i retake gmat on 20th jan and apply in 3rd deadlines of all schools then will i get scholarship or chances are too low?

whiplash2411 · Answer

Getting scholarship is after you've received an admit offer, which by itself is hard when you're thinking third round. If I were you, I'd prepare, retake and apply next year. You should generally have a good GMAT, undergraduate GPA and stellar work experience/essays/recommendations to get in through the R3 deadline. Plus, from your posts I feel like you still have a lot to learn about the MBA processes in terms of application and funding.

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Posted from my mobile device

rekhapandey10 · Answer

yes thats true...i have to learn...m new to it...thanks a lot everyone for ur responses... i guess i should try next year

rekhapandey10 · Answer

Hi friends...since you all have guided me so well..please answer few more queries of mine:

1) can i apply in Jan 2012 session in US--- what are the drawbacks (if any) in joining this session
2)since i have 3.5 yrs wrk ex in IT as a software engg, will it not be possible for me to change the domain like opting for MBA(finance)?

Please reply.

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Very low GMAT score 510..please advise what is best now

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