740 on the GMAT - retake?
I recently got a 740 on the GMAT (97th%ile) 50 Quant (95th%ile) 41 Verbal (93rd%ile) 6.0 AWA
Do you think it's worth retaking the GMAT? For admissions purposes? for scholarship purposes?
I'm looking at the top programs - HBS, Columbia, Wharton, Stanford, etc. and I want to know if an extra few points will really be that important.
My goal score was/is a 770. I think I can pull up my verbal score a few points and possibly nab the extra Quant point....but I'd rather not sit through another few hours of torture and possibly get a lower score.
On a side note: I may be applying to Princeton's M.Fin program, or Berkeley's MFE in addition to the MBA programs.
Any input would be great - thanks.
The best analogy for gmat scores I've heard is that it is like height in the NBA: a high number won't get you in, but a low number can keep you you out. Adcoms use the GMAT as a check that you have the raw mental skills required to perform well in business school. Anyone scoring over 600 would probably do just fine at any school, but they prefer it to be over 700 just to be sure. Once you get past that, it doesn't really matter—the rest of your app will make or break the decision.
Wow, you're a douche. You need an opinion about something like that?
Wow, you're very quick to judge.
Why don't you just not type anything and hit the return button, and go into another thread. Why the need to be a jerk?
He needs the banana points, dude.
I hope that the irony in this is only not apparent to Southern Banker...
yeah I caught it, just didn't want to say anything before someone else did out of fear that I'd sound like a dou...
Altesv has it right. It wont get you in, but it can keep you out.
Southern banker has it right as well..
Remember, you will always be a salesman, no matter how fancy your title is. - My ex girlfriend
just looking for some honest advice, not trying to be a douche
of course i know a 740 is a decent score, but when looking at programs with ~10% acceptance rates everyone needs an extra little edge. Was just wondering if an extra few points on the GMAT could sway a decision... OR, if it's more like AltESV says. I'm also trying to get scholarships. And I'm applying to M.Fin/MFE programs which are a bit harder to get into than MBA programs.
Once again, any advice would be great.
Scholarships can be really random. There's definately a lot of money out there for underrepresented minorities especially if you're going into finance. If you aren't in that category though I think it has more to do with your background. I know people with 650 and 750 that have gotten scholarships. I'm just not sure how big a part the GMAT plays in a scholarship.
You don't need to retake the GMAT. You have a great score, if you don't get in it won't be the GMAT. Focus on writing GREAT essays. Those are the most important thing in your application.
Why would you ask that question, you cant make that judgement for yourself?
Retake it man...you risk bringing shame upon your family with a 740. You might be disowned; I've also heard that "honor killings" are up in this part of the world.
Seriously though, I fail to see the point in retaking. It's plenty good enough, and once you get to this range you're splitting hairs. I had a 760, and I'm happy for the score but I can't help but to think that any higher the adcoms would scrutinize my application even more (i.e. why isn't my GPA as high as it should be, blah blah blah..).
I scored 770 (50 Quant, 46 Verbal), but would have opted not to retake with any score north of 700.
Most of the feedback people have provided above is correct - schools will look at your gmat score in order to 'check the box', but a score won't carry much weight beyond that.
740 is fine--I think you should focus on other aspects of your applications. With my sights set on similar schools I told myself that: 700 = definitely retake, 700-710 = probably retake, 720 = probably not retake, 730+ = definitely not retake. Luckily, I don't have to retake. I also think that a 700 or below could be more than enough for those from less-competitive demographics or those who have other unique aspects in their backgrounds. Unfortunately, the finance cohort, e.g. IB/PE, is one of the most competitive and a >700 score is expected.
I have heard about several instances from Harvard and Stanford where applicants got dinged with score of 740 and the feedback was had they score 750, they would have got in. So I suggest you retake the exam and try to pass 750 mark, otherwise you can forget the scholarships.
No way this happens.
And even if it did, no way the adcom explicitly tells a candidate they were 10 points shy.
riiiigghht... this doesn't happen.
I tried so hard not to post anything here becuase I know I have nothing constructive to add... but...
WHAT A TOOL
I don't know; I think this is a legitimate question. I would retake it just for the sake of not regretting it later. you could always say, well i didn't get into hbs, maybe a 770 would have put me over the edge. it's possible isn't it?
It's like college admissions. What's a good score? would you retake with a 1490? If you're applying to a top college, then my answer would be yes.
Honestly, if you're not getting in or getting a scholarship with a 740, you ain't getting one with a 770. I almost think this question's some sort of gloating-loaded joke. Hey everyone, I got a 12" twinkie, is that long enough?
Focus on improving other aspects of your application..... like your street smarts, just as an example.
..... this guy who got into TPG cos he had like a 13-incher, apparently they let him whip it out from time to time to entertain clients
These guys calling you a douche and a tool are doing you a favor. Think about. There is a small (not large, but small) chance that the admissions people will say the say the same thing when you report a 760 after a 740. remember, B-Schools are collaborative, group oriented places where culture is important.
I’ll tell you something flat out: I don’t what to work in a group with a guy who gets a ridiculous score, and then says, “You know what, I can do slightly better!” You really do come off as a tool. Think of me what you will, but a lot of people feel the same way. Throwing a score on top of a 740 may make you less appealing from a cultural/personality perspective.
So there’s the downside of reporting a somewhat higher score. What’s the upside? A very small chance of improving your admission standing. I say very small chance because there is no material difference between a 740 & 770. 740 is probably the 94-95th percentile. 770 is probably 96-97. Same thing.
In your case, reporting is probably a Net negative NPV decision.
Note: I’m not knocking retaking. I’m retaking because I got a 690. I’m 10 points away from being on a different plane. You’ve probably hit a plateau.
I agree that there isn't much of a difference b/w 740 and 770 (although 760+ is 99th percentile) and that time is better spent elsewhere. However, I don't think it could actually hurt your admissions chances if you scored better and reported. I'm not commenting on whether OP is a tool or not, but I don't think adcoms would mark it as a negative that this person wanted to put forth his very best effort on an exam that has a lot of importance for business school admissions, and in some cases employment prospects.
mbaScandinavia is clearly high and I am surprised that he hasnt provided a follow up post offering Kaplan/Veritas services to help the OP raise his score. No school has ever stated that a 10 point spread (esp. between 740-750) is a determining factor in admission.
I for one respect and admire people who always think they can do better...
A bit late to the discussion, but you could wait until your 740 expires and take again (this obviously requires that you have the time). Then it doesn't look like you retook to get a better score, but you have the opportunity to do better . . .
I retook my 710 and got a 760... but I think 740 is high enough. You're above-average at every single school you're applying at and will be raising the school's average GMAT for sure. The only thing is, if you're below avg in your demo, that means letting in some "unique" person with a low GMAT is less-offset by your score. If you can retake with minimal study you might as well do it just to put your mind at ease. If its going to be a pain, just forget it. Retaking to just get 30 more points might actually make the adcom question your time management skills (is 30 points really a good use of your one wild and precious life?
740 should be good to go. Don't waste your time doing that again.
i have a 700, from a somewhat non-traditional background, a couple of years in new york, and a couple of years in a frontier emerging market. have a 3.8 from HYP. thoughts?
Don't retake the test unless you're absolutely, 100% sure, that every given time, no matter the circumstances, you'll increase your score by AT LEAST 30 points. The downside of coming off as obsessive (which you are) is HUGE compared to the upside of a slightly higher score.
Also, I'm pretty sure you can't get a merit-based scholarship to Harvard or Stanford, and a 740 is already above average for Columbia and Wharton, so I'm not sure a higher score would even help in that department.
The interviewers can see you took it twice. I don't think the incremental points are worth it.
I know some people who retake choose not to send their score reports for free to the schools they're applying to. That way they only have the first score report and the applicant can choose to pay to send the second report if they score higher. Probably irrelevant but its something people have done.
Wow what an idiot.
A 740 who cannot do some common sense thinking for himself.
Hi quantjock,
I agree with AltESV. A 740 is an excellent GMAT score. Instead of retaking the test, your time would be better spent focusing on your essays or looking to improve your extracurriculars and responsibilities at work.
I hope this was of help.
Conrad and the Stacy Blackman Team
Hey guys, I'm just trying to understand something here. I've always thought that if you can make any part of your application better, you might as well. Assuming everything else will be equally good, why would one not retake the GMAT to improve that part of your application? I would think that every little improvement gives you a little more of a shot at the top schools..
Even with a 750, if someone just made silly mistakes and could with minimal review just write it again and get 780+, is that really not worth it?
I realize that it might be unwise to rewrite if one planned on studying for another few months, but what could the possible disadvantage be to just spending the four extra hours and getting the better score?
Thanks!
Is it not true though that they will only look at your top score, which is the one that you report?
Shouldn't a "quant jock" have a 51Q?
Just messing. Good luck with your applications.
I think this is a more legitimate question than many on the board give you credit for. I retook a 730 for same reason (also I had middling AWA because of time screw up) and bumped up my score by 40 points.
Did it make a difference in admissions decisions? I have no idea; however, I got in where I wanted to get in and in hindsight (given the outcome) I am happy with my decision to retake. Coming from a finance background you are in an INCREDIBLY competitive pool; I would not dismiss the need to crush the GMAT relative to the median score to give a yourself some breathing room (though this is clearly speculative on my part - it played a role in my own decision making process).
My view on this is similar to the advice I give to those people already on the buyside who want to take the CFA tests (which I've passed but while on sellside). It doesn't hurt you and you will learn a bit but it also probably isn't a great return on your time; you would be better served by reading 10Ks and transcripts than by reading a textbook on ethics (in your case you might be better served working on essays and EC's than retaking GMAT).
I think it comes down to how much free time you have and your own psychological views on regret, etc. in the event the ball doesn't bounce your way (i.e., if you get dinged by HBS or Stanford are you going to blame the GMAT score or not?).
I would retake if you have the time... Can make a significant scholarship difference to CBS, Booth, etc
it's not automatically foolish to consider retaking so ignore the herd responses. as great as a 740 is, it would certainly be below the average of certain subgroups (demographic/profile combinations) at M7 schools. applicants compete within subgroups not against the median.
if one falls into such a subgroup and has reason to believe they can hit 760+ then it makes sense to retake. also, there are plenty of candidates who are blah on other fronts and get in because their stats are just too strong to pass up - if you fit that profile then consider retaking. keep in mind that there are plenty of 760s, 770s and 780s at the top schools. it's highly unlikely that every one of them would have gotten in with a 740.
i also happen to disagree with the notion that a marginal increase will be punished due to some signal of poor judgment. adcoms don't read that deeply into these things and will gladly take the extra points for their average (if they were going to admit you anyway).
Big difference between 740 and 700 GMAT? (Originally Posted: 02/22/2010)
I heard some people say recently that in terms of MBA admissions at top schools, the score range within 700-1740 is extremely important because if you score on the higher end of that scale, it can fundamentally change your admissions chances. according to them, an applicant with a 740 GMAT has a "much" higher chance than someone with a 700, provided they are equally qualified in the other areas. I've always thought that once you break 700, it doesn't really affect your admissions THAT much. Am I wrong about this?
It all depends on the schools average. If they have an average GMAT of a 740-750 then they will need to admit applicants with higher than a 750 GMAT to offset your 700 GMAT. If you have an otherwise outstanding application then it shouldn't matter, but if you are scoring 50 points or more below the stated average it will most likely hurt your chances.
there are no MBA programs that have a 740 GMAT average. i think the highest is like a 716.
Stanford's average is 730.
School Name Median GMAT Score Harvard MBA Program 720 Wharton MBA Program 710 Stanford MBA Program 720 Sloan MBA Program 710 Yale MBA Program 710
Your right, I was using 740 as an example, but I think 720'ish is a good idea of where you should be. Unless the OP has an outstanding story or admissions package getting below the average will hurt them. If you figure that top schools allow a certain amount of 640's in they have to offset those lower GMAT's with 740's and 750's. Those lower GMAT's are probably reserved for disadvantaged individuals, etc. Unless the OP fits that category it will be something of concern.
you are speaking in relative terms as if we can isolate one variable and give you an exact weight placed on the GMAT. If candidates with almost identical profiles had a 40 point spread in the GMAT (740-700), yes the 740 would have a better shot. How much of a better shot depends on the type of candidate, the school, whether the profile of the two was unique (are these ibanker-PE guys or successful entrepreneur types)...
testing e-mail notify
Agree with NYchimp, it really only matters as a stand-alone variable. I had a chat with my director of admissions and he indicated that we rejected roughly the same % of students that had >750 GMAT vs. those with lower scores. Sure they are a little more likely to get in, but its really the total package.
I'd be curious to see how that breakdown works for >700 vs those below.
There is a difference but not enough to warrant a retake unless something unusual happened on test day. MBA admits depend far more on soft factors than programs like law and medicine and I have read that retaking the GMAT only to get from say, 710 to 730 shows poor judgment. On the other hand, if your practices have been 770 and you come in at 690 or 700, maybe that warrants a second go.
No two candidates are truly equally qualified. There's always something to differentiate or not from the competition. Having said that, taking your post literally, in the hypothetical, given two identical applicants, the school would pick the applicant with the higher score.
Indeed the post is dated 2010, but these threads are actually useful for archival purposes since the same questions surface year after year. In fact, the originator of this post just posted a very similar question a couple of days ago if the topic is of interest to you:
http://www.wallstreetoasis.com/forums/is-740-the-new-700
I am a little baffled at your hostility --having a tough week or something? Hang in there--Friday is almost done! ;)
740 GMAT from a Non-target (Originally Posted: 04/15/2010)
So I took a break from studying CFA L2 and wanted to take the GMAT. Apparently I did a lot better than I thought. 740 Q-45 V-47. I was expecting mid 600's!
I went to a completely non-target from the midwest and am about to start at Charles Schwab in their Broker Trainee program because the job market has been terrible since graduating undergrad in 2008. I'm focused on AM but would kill for an IB analyst stint.
Any idea how I could leverage this against a low GPA (3.1)? Thoughts on a b-school to apply to after more W/E?
Do you go to a Big Ten School?
My crystal ball is telling me that he goes to Western Michigan.
Nimz, no Big 10 school is "completely non-target" Get a clue.
I don't know that you can "leverage" a GMAT score or GPA, but maybe I misunderstand your word choice. At this point, if you're looking to switch jobs, what matters most is your network. Now, if your question is about how good your GMAT score is, I would say it's very good and you needn't worry about it, but remember that getting a job or getting into business school has a lot more to do with what you scored on some exam.
Adcomms generally suggest that you take 1 or 2 quant or finance related courses (and get As) at a local university or even community college to offset a weak UG GPA. Your 740 should allay any concerns that you dont have the intellectual capacity to perform calculations and reason appropriately but a 3.1 from a non-target may indicate that you werent focused while in school. Assuming you can put together a few decent years of work experience, get involved in a comm. activity, get some solid recoss and draft cogent essays you could be competitive at schools ranging from 3-20 in the rankings.
Congrats on the 740. I think you would be a long-shot at H/S/W but it isnt out of the question that you could get into 1 of those programs with solid W/E and leadership roles. Wharton would require a few extra years of W/E (4-5 years vs. 2-5 yeas at places like H/S which are trending younger)
I personally think that W is a long-shot too, but that shouldn't discourage him from applying. As you suggested, however, he'll need 2+ years of experience to show some real career trajectory and a story with "substance"; otherwise he'll be graded based on what he's doing right now (i.e. broker trainee). I don't mean to be a cynic, but having gone through the application process myself last year, I'm pretty sure that a 740 GMAT score doesn't exactly change the complexion of the real meat of his candidacy, a.k.a. career progress to date and other meaningful life stories.
Anyway, this certainly isn't a comment towards junkbondswap because I know he knows what he's talking about. However, as a broad statement having read a number of threads on this forum today (slow day at work), I feel like there are too many people here that don't have a real appreciation for how hard it is to get into a top business school, so I'd rather err on the side of caution and challenge this guy to be all the best that he can be, rather than giving him some false sense of security of where he might end up 2-3 years from now.
bump
How did you study for it?
This is exactly why I believe standardized testing is flawed. Simply put: Some ppl are good ST-takers and some people are bad ST-Takers. I graduated from a top university w/ a +3.8 GPA with a double math/econ major and didn't even crack 1100 on my SAT. I've recently been prepping for the GMAT and I'm scoring 650ish on practice tests, which I believe, is far below my academic achievements. IMO submitting standardized tests should be optional.
Sorry to hijack your thread. Not saying you don't deserve the 740 (well kinda :)), but don't count on it proving that "you're really smart" because I think more and more adcoms are beginning to see the views I expressed above.
Yeah, because you couldn't have just taken ridiculously easy classes to get that GPA. Of course you believe standardized testing is flawed; you're apparently terrible at them.
^^i doubt that he took "ridiculously easy classes" as a math and econ major.
with that said, i still feel standardized tests serve their purpose. it seems odd that you cant crack 1100 on an sat...maybe youre just testing wrong.
It's easy to game the system by taking stupid electives (like music therapy) or finding sections of required classes with lenient TAs, or even taking them during the summer. Point being; it's just as easy, if not easier, to game your GPA as standardized tests.
To be fair, I just didn't give a shit in HS. Only took the SAT once, went to a crappy school, did really well, then transferred to a top 25 (most schools don't require transfers to disclose SAT scores).
There is really no easy path as a math major. I've taken all the required courses (i.e. Real & Complex Analysis, Diff Eq, Abstract Alg, Discrete Structures, etc...). I'm sure I'll be able to pull my GMAT score up to +700 by the time I take the test. However, the point I was really making is: How can you discredit 4 yrs of academic success just because one can't "figure out" how to be smart (and quick) during a 3 hour test....IMO you can't, and shouldn't.
I don't even want to get into the costs of the GMAT. The test, plus study materials, plus courses can easily run +$1500, which is an absolute scam. And some people take the damn thing 3 or 4 times!
1500+? For the GMAT? I paid the 300 dollar fee to take the test, checked out the books from the local library, used the resources on the internet, and pulled a +700.
Whatever. I don't care. I just spent $150K on my education and am $80K in debt. I should not have to pay a fucking cent more to prove I'm qualified....
Hey I'm not saying I didn't study my ass off. I did for about 2 months with the right GMAT material (2 books, maybe $80) It's not the most difficult material to remember, rather about how quick you can process it. Congrats on your achievements. You earned them, no question. I guess GMAT is one of mine.
The two stats measure different things. One measures speed / accuracy while the other one measures hard work and effort. You can argue all day as to which of these traits qualifies someone for a position in b-school or a job, but it just ends up being a matter of opinion.
Outside of the IB analyst world, I personally put a lot more value on someone who is smart than someone who is hard working. At some point effort fails to matter and all anyone cares about is results.
Not trying to attack your opinion, but that also happened to be Enron's line of thinking when hiring new employees...
--
it's a rule of thumb that an MBA will include his GMAT score on the resume if it is above 700.
i'm not sure if recruiters would think you are a dbag for putting it on there however. also if you included GMAT on your resume, they would wonder if you were going to immediately plan on applying to bschool after you were hired.
740 GMAT good enough for H/S/W? (Originally Posted: 03/25/2013)
Title says it all. Ceterus paribus, is 740 good enough to get me into a top school?
A 740 is above the median for both schools.
you have to be trolling or retarded to be able to score so high and not be able to find this out.
He was likely fishing for compliments.
Holding all else equal to what?
That score won't stop you from going. But, it alone won't get you in.
Am I the only one that thinks the phrase 'ceteris paribus' was not only misspelled, but used incorrectly??
What exactly are we holding constant? Shitty essays, good essays...poor undergrad GPA or good undergrad GPA, etc.??
I don't typically like to be an ass to people but someone who can't search and find the median scores for the schools they are interested in going to really doesn't even deserve consideration from those institutions.
B-school applications are very complex and have many factors that can determine eligibility or ineligibility...no score can guarantee admission some place if the other facets of the application are lacking.
Regards
I sometimes spell it "caeteris" just to be an asshole.
B schools don't evaluate a GMAT score. They evaluate an entire application.
740 GMAT - what do I do? (Originally Posted: 01/03/2014)
I am posting this on WSO because the community here does not beat around the bush or spout adcom drivel. I hope that this forum can help others in the same position as myself. First my stats and then my story.
School: BBA in Quant Econ, Minor in Math; 3.72 GPA GMAT: 740 Race: White Job: Control role at Bulge Bracket Undergrad: Non-target university with decent undergrad B-School (ranked towards lower end of top 50 in businessweek) Work Exp: Graduated and hired in May; will work for 2-3 yrs before applying
Many people would look at this profile and think, "you have a great shot anywhere." However, I know from research that this is not the case. As a matter of fact, I suspect that my GMAT and GPA are anywhere from average to slightly-below-average for my demographic at H/W/S.
My overarching question is this - how in the heck do I get into a top Bschool? I have already lined up charity work that I want to do, as community service is very important to me.This should also help my application. Outside of this, there are some areas of focus that I've been wondering about.
Please respond if you have ideas or if you are in the same boat as me.
Focus on your story for why you want to go to business school, get good recommendations, crush your essays. These are all more important than a 20-30 point bump on your GMAT.
Also, based on what you want to do, expand your choice of schools. Booth, Columbia, Tuck, etc. have great business schools that, if you bust your ass networking once you get in, you can get to the exact same spot if you had gone to H/W/S.
Work for a few years and then reevaluate if you actually want to go to B School. Your GPA is good, GMAT is above average, see if you still want it in a few years.
First of all, I'm going to echo what you said everyone is telling you: you're in great shape. A 740 and a 3.7 in a quantitative major with a blue-chip job is no joke. That's 3/3 in things you can control. You didn't say where you went to school, but even if it's not an A+ school, the quant experience and strong GPA easily make up for that. Personally, I actually think it's an advantage to be applying from elite F100 jobs versus finance or consulting, because you're a bit different from the most standard top-notch recruits (that's just my opinion, not fact).
As for your three points, I don't think 2 and 3 mean much of anything. Unless you can tie spanish into your background and future goals (e.g. you do some work at your company or a non-profit in LatAm speaking Spanish, and want to leverage that going forward...), I don't see much effect. Same with your parents.
I would not take the GMAT again, but that's only because I think your score is more than good enough to get in if you execute everywhere else. I do NOT, however, think there is any risk to taking it again. If you do and get a 710, it won't hurt you at all, so I wouldn't let that be a deterrent. I just think your time can be better used elsewhere (do more extra-curricular work, do more at work, etc.).
Really, you have 2-3 years to make your profile better. You plan to get involved in the community, which is obviously important. As I always say on here, take leadership roles in a few key initiatives so you have great stories to tell on apps and interviews. Other than that, do great at work, and seek out leadership opportunities. My impression is that people tend to advance pretty quickly at F-100 in terms of great opportunities to lead, so take advantage of that. Develop relationships with mentors that will be good recommenders.
Too many think of it in terms of raw stats and don't realize how important it is to actually do well at stuff (from contributing to your non-profit to making an actual impact at work or in college). Achievement really matters to them, so having stories for both you and your recommenders to tell is incredibly important.
Seriously though, you'll be fine. H/S/W are always going to be crap shoots to a certain extent, but no doubt that you'd get into an M7 school if you do well from here on out.
Ahh yes, it's been awhile since I've seen the Ninja from the end of my video...
I def would not retake with that score -- really only downside from a perceptions standpoint. Realistically I think Stanford is a longshot with that profile, but I do think you'll be competitive at the others if you play your cards right. My experience with S kids is they tend to have something extremely unique... doesn't necessarily make them all that great in a business setting, but they're interesting ppl.
If you have to ask about retaking a 740 GMAT you are completely missing the picture here. You dont get into H/S based on numbers. You get into those schools based on your story and x factor (and yes partially on numbers). If your story is not unique, interesting, or makes you stand out then welcome to the M7.
With that said, idolizing H/S/W is stupid as a lot of the admissions process seems to boil down to somewhat of a crap shoot.
I should state that I have not gone through the MBA process yet, but I cite my credibility to the fact that i constantly check gmatclub.com obsessively.
Right on. As a college senior, I'll give a little bit of leeway to missing the overall point. It's not that a 760 vs. a 740 can't help you, it's just that if you're hoping that those 20 points from one elite score to a slightly more elite score, will get you in, you're way off. At the same time, there are plenty of M7 rejects with 3.7s and 740s that simply don't execute, are boring, or don't interview well. It's honestly unbelievable how shitty of a job some people I know did with applications, given that a decent effort could have gotten them into a top-10 school easily.
Agreed on the second paragraph as well (as a H/W reject, of course I agree). You actually never said your goals, but based on what I've seen, there are very few jobs that H/S/W are the only avenue to. The big differentiator is that they are great for all career/location placement, whereas you might need to be a little more selective from the rest of the M7 if you have a specific goal. No need for you to know what that is yet, or which schools work for that, but just something to think about as you progress towards applying.
Hire HBSGURU!!!
I'm sorry, but what is a "Top-3" in this context? Like a Fortune 3 company, or the Finance division of a GS/MS/JPM?
"I'm sorry, but what is a "Top-3" in this context? Like a Fortune 3 company, or the Finance division of a GS/MS/JPM"
I work in the corporate finance division of one of GS/MS/JPM. I originally wrote "top-3 BB" but apparently managed to delete that when I edited my original post.
Also, a thank you to everyone for the fantastic and thoughtful advice. I am going to carefully consider all of the replies that I receive.
Ha, good point. Didn't really think of that. I assumed it meant GE/Exxon/other good company with well-known corporate finance gigs.
Agree with SourPatch. Going to be tough without the extra years of work experience unless you do something unique to really differentiate yourself. I don't think there's anything wrong with that though. I'll be going next year with five years of experience, and am very happy that I waited a couple of years to go. Much different perspective and goals now than I did then. Plus, I was a much better applicant - basically every meaningful experience I used was from the last two years.
Get 3-4 years of good work experience under your belt and you'll get into a top-10 school.
Retake 740 GMAT? (Originally Posted: 05/08/2014)
I'm guessing that this thread is going to produce a bit of vitriol but here it goes regardless:
I took the GMAT right out of undergrad and scored a 740 (48Q 44V). As is consistent with my general personality flaw (and the reason why I went to a non-target undergrad), I did not do much studying. At the time, I was satisfied with the score. However, the more that I research, the less convinced I am that this will be sufficient.
Please note the following about me: 1. Work in a back-office finance "control" role at a bulge bracket. It's risk management as opposed to product control but... let's be honest... who really cares. It is back office finance. 2. Although my college GPA was mid-3.7 and 3.9 in-major (quant econ), I went a non-target liberal arts college as mentioned above. 3. I am just a year out of college and have two more until I will be applying.
And I am interested in attending an M7 school.
I took an official practice GMAT from GMAC on a whim yesterday and got a 740 after not having touched this stuff in a year. I'm convinced that I can get a 770+ with some studying. Am I crazy for thinking about retaking?
I'm afraid that retaking a 740 will fall into the category of "what is this guy smoking" in the eyes of AdComs, but I also strongly believe that there is a halo effect on one's entire application that significantly increases their odds of admission for scores in the 99th percentile (I estimate +10% in my case).
Also of note: I am focusing on other areas of my app, doing good service work, etc., so I am not interested in the generic response of "you should focus on other areas." I don't think it will be any great time commitment to up my score (~20 hrs). What concerns me is the danger of looking like a crazy person or a poindexter on my application.
I wouldn't worry about it. 740 is great and above the averages for all the M7s. If, like you said, you're already working on the other stuff you should be fine.
FWIW, if I were evaluating your application, I don't think it would make you seem like a crazy person or poindexter though.
You're fine, no need to retake. If you retake it,make sure you can actually get to 760/770, elsewise its going to look BAD. Too high of a risk I think, especially since there's as much as a 30 point swing test-to-test, just based on the questions you get/random guessing....so there's definitely a chance you got "lucky" this time and will get "unlucky" next time. I wouldn't risk it.
If you can get 760+ on a couple of practice tests consistently and are confident that you can repeat the performance on test day, then go for it. 740 is good and 10 to 20 points above averages for top 10 schools, but a 780 is even better -> top 10% of class.
This. 740 is above-average at every M7 and the rest of your profile is strong, so you'll be competitive. That said, 770's and 780's really pop off the page for MBA apps and on-campus recruiting. If you think serious studying would get your into this range, go for it.
I don't think you're crazy to consider retaking, although you still have plenty of time to decide since you say it will be two years before you begin applying. Admissions will not think negatively of you for retaking a 740 assuming you score higher on the second one. A 770/780 versus a 740 will probably not make any difference at H/S, but it very well could at the rest of the M7, and it can impact scholarship opportunities as well.
As mentioned above, only if you can better than to a 760 or more.
No. 740 is sufficient. Take care of the rest.
They won't even see your second score if you score lower. However, I think your time would be better spent on other parts of our application.
You wouldn't necessarily self-report it (although many applications require so), the actual score reports include all scores from the last 5 years.
I would not retake. Q48 is enough on the quant side, and 740 is enough to help them boost their average. There are probably better things you can do with your time to increase your odds of getting in.
Q50 quant isn't impossible so you still have some upside. 770 can get you some $ at some places.
I wouldn't retake it. I'm not going to hide my jealousy. I received a similar score some years back, but only after an embarrassingly large number of study hours.
Can you do better? I wouldn't doubt it, but I think your time is better spent elsewhere.
I haven't applied to bschool yet, but have taken the GMAT. While I agree with the above posters that a 740 is fine, I don't think it would hurt for you to study and take it again granted 1) you are confident about getting a 770+; 2) you aren't spending too much time studying for the test. Only you can make a judgement call on these two items.
As I expected, excellent answers from this forum. I will study and see how practice exams are going. If I'm getting 790 (760 within +-30 confidence interval of test day performance), I may give it another crack. Thank you!
Why not take GRE instead, it's a zero-risk move. You'd have to get close to perfect scores for it to look better than the 740 GMAT, but you loose nothing if you don't (obviously you don't have to report a score that you don't like). I think all M7's accept GRE now, with Booth finally agreeing to it this year (correct me if I'm wrong).
I'm currently in b-school at an M7 so you can put some weight to my comments! Do not take the test again! 740 is a great score! Also, adcoms will see every test you take. A lower score can make your 740 look like a fluke. Once you get into b-school, no one cares about what you got on the GMAT. I would focus your time on the other aspects of your application.
Don't fix it if it ain't broken. 740 is higher than the average score of most M7's as far as I know.
From your brief description of your profile, it seems you've already more than checked the "smart enough" and "quantitative enough" boxes. Spending a bunch of time studying and potentially raising your score (at the risk of hurting yourself) is simply not worth the effort / risk. A 770 doesn't wow anyone in the M7 anymore. It certainly helps, but I don't think it is worth it when you're already sitting on a 740.
why would it hurt him to take it again? not following
Once you get to a certain point nobody cares what score you got. There isn't any difference between a 750 and 770. The purpose of the GMAT isn't to put you ahead of other people, but rather to not put you behind other people. If you're over the median score for the school that you're applying at, you've checked the box.
I can't believe this thread exists. It's like asking if your 10 inch penis is small or not.
I think you are in good shape. Much more likely for you to turn in a sub-740 score on the next test due to difficulty and/or dumb luck. Know when hold em.
I made a video for you many years back... your cameo is at the end.
In addition,
and
http://www.youtube.com/watch?v=nq68REMZ7_4
may be of interest. I just saved you an admissions consultant...
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