Trying to decide if it's worth applying to the top schools?

Hey guys so here's my situation and I wanted to get your thoughts.

I went to a Top 25 School think WUSTL, Georgetown, USC etc and graduated in 2007 with a 3.8. After college I worked in Investment Banking at a top bank for 3 years and after that I moved to a small hedge fund as an analyst.. I like what I'm doing, but I'm not really sure I want to do it for the rest of my life. That combined with the possibility of having a 2 year break sounds pretty appealing to me. I just took the GMAT and got a 710 and am involved in two volunteer organizations, however I don't have a serious leadership position with either of them at the moment.

If I went to business school I'd likely only apply to the top programs: Stanford, Harvard, Wharton, Northwestern, Chicago (don't really want to stay in the NY area).

With that all being said I would apply next year and likely retake the GMAT is hopes of achieving a 730+. Wanted to get a sense from the broader group of you to see what you think regarding my shots of getting into the top schools? Is it worth applying / What else can be done to improve my app?

All responses are really appreciated. Thanks!

13 Comments
 

Okay, you say you are not sure you want to be a hedge fund analyst for the rest of your life... what do you want to do?

Is an MBA requisite for the career you are pursuing?

The difference between successful people and others is largely a habit - a controlled habit of doing every task better, faster and more efficiently.
 

I agree with BigBucks. But at the same time, having an additional network may be helpful down the line to tap into just in case you need help transitioning to another area of Finance or a new job in general. Sounds like your stats are outstanding. I'd apply early. Gets harder the later you wait.

One strategy since you're undecided on what you want to do permanently is to apply to top MSF programs and use an MSF to explore something new for two years, then if apply for MBA programs after two years of working post-MSF. That way, you're not immediately exhausting your MBA and your post MBA opportunities without having the chance to explore all of your options.

 

I'm not 100% sure what I want to do, I think either do something entrepreneurial or maybe go back to a different hedge fund (it's quite hard to change funds once you're at a place). Also I've always wanted to travel more and this would be a great opportunity to do that. So all-in-all I don't really have the 'best' reasons to apply to b-scbool. I'll clearly have to work on that. I've been working really hard since graduation and don't want to regret working so much during my 20s. Does that make sense or is that a selfish view point?

 

You have a strong gpa from a good college, which will help for HBS since they are obsessed with ug gpa. Your gmat is fine, provided that you got at least 80% on both sections. I suppose re-taking to try to get 740+ won't hurt, but don't do it at the expense of working on other areas of the application.

Top BB+hedge fund is a pretty good path, and people with your profile do pretty well at wharton/booth/kellogg. With HBS and Stanford it will be tougher since you're not at a top hedge fund, and your extracurriculars/leadership is a bit thin. But with the other top schools you have a pretty good shot. It will boil down to execution on your part.

 

i think your gmat and grades are fine, focus on your leadership roles from now til then -- definitely a much better way to make a bigger impact on your application from the holistic approach. all the time you can spend -- what was your quant/verbal split on that 710 btw? if you have a weak quant and a high verbal might want to be retaking but still think youre fine

i think HS youre nothing fancy for but it never hurts to try i guess, the others should have decent chances at to get into at least one :)

 

A GMAT score of 700 plus is advisable if you are aiming for top institutes. However it is not just the academics but beyond the academics that will help you in determining your candidature. Generally most of the applicants have a good 4-5 years of full time work experience apart from part time work exp or internships. Although it is not just the work experience that counts but also what you did there like-what were your achievements, what initiative you took, what changes you drove in your workplace etc. So if you can show that in your years you have demonstrated the skills business schools are looking for you can put in a strong set of essays. Make sure you follow the ‘show rather than tell’ principle so that the admissions committee could really understand your strengths and differentiating factors.” So if you can showcase the above aspects you will have a stellar profile and good chance at the top schools.

 
Best Response

Your raw candidacy is solid (average GMAT, above average GPA at a non-controversial undergrad, a good BB brand, some volunteer work), but your success will depend massively on your 'story'. Do you want to get out of finance entirely, or do you want to 'step up' your fund? Essentially, staying in finance but hoping for a way out of a dead-end small fund is a boring story that won't really get anyone excited and it actually makes you look weak and desperate, so you'd be up against the guys who are like you but have 760+ GMAT scores. If you have a more compelling story that remains true to your candidacy (ie. it's believable, it doesn't look like you're BS-ing), then that will help you a lot more. Overall, I'm not seeing Stanford, I don't really see HBS either, but the others will all give you a serious look.

It's more important for you to get a good story in place than to scratch a few extra points on the GMAT.

The truth is you're the weak. And I'm the tyranny of evil men. But I'm tryin', Ringo. I'm tryin' real hard to be the shepherd.
 

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