B-School or NOT?
I'm going to lay it out easy:
- I have a 2.7 GPA from my undergrad in 2004
- I started and ran my own mortgage/real estate company since then and recently closed this down
- I'm looking to change into the Finance Industry and specifically want to target M&A's.
I know that I didn't have the best GPA and have no experience in Finance at this time. Is it too late in the game for me to get into a good MBA school and get into a Bulge right after graduating? Any suggestions on what I should do to get where I want to be?
IMO, lower your sights (on which B-schools and which banks you think you can get into). How's your GMAT?
It depends on your GMAT and how good of a story you have relating to running your own business. However, popular sentiment might go against you, since I assume you were in the sub-prime business (no offense but as a credit worthy borrower I wouldn't go to John's Mortgage to get a loan, I'd go to an established name).
i scored a 790 on the gmat last month
790! You must be a genius!
Your 790 certainly makes your situation more interesting. One approach that is highly recommended by adcomms is to take a few courses at a local university (and get A's) to demonstrate that you have the dedication and aptitude to excel in an academic environment. A 2.7 GPA is quite low. Was it from a top program? All of this can be explained away in your essays but the applicant pool is extremely competitive these days. Have you been involved in your community through E/Cs (besides giving people mortgages that they probably were not qualified for, jk)? If you can spin your entrepreneurial angle and use your GMAT to show that you have the horsepower you may be an interesting candidate. Good luck.
Your GMAT score sure will set you apart, the GPA may be like the crazy uncle in the family that somehow screws up great things. No matter what try and get into a good b-school rather than a great one, and try your sights towards a boutique firm. Good Luck.
I know the 790 is a big curve ball in my game right now and I have a friend at GS that is trying to pull some strings to get me an internship this year to help out.
When I was running my company most of my business came from friends and family and from local real estate professionals so I generally didn't place a large number of people in these troubled loan programs. When I was in business I did donate 3% of the gross profits to a local charity but thats the extent of my charity work that i've done.
I went to University of San Francisco which isn't a top school and worked full time while I was going which was my major issue with my GPA.
Looks to me like I'll just have to start out in a lower bracket after graduating unless I can somehow WOW the adcom's at one of the top schools.
My sense is that academics is just one piece of the puzzle on MBA admissions. Your GMAT should get you an interview where you will have a chance to explain your grades. Attitude and personality counts a lot here.
MBA is not an academic degree (ie education). Think of it as going to a two-year party that you will meet lots of people that will help you throughout your career.
Plus, you get a nice piece of paper in the end that will open doors.
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