Low GMAT? Expand Your List of Target MBA Programs
It’s that gut-wrenching time of year – when aspiring second round MBA candidates take the GMAT, but don’t obtain the score that they want and need to be competitive at their target schools. We aren’t talking about 10-20 points off the MBA programs’ average GMAT scores, but rather 80 points or more below the averages. When I get calls from candidates, they are seeking application strategy advice on how to move forward – whether to take the GMAT again or apply with their current score. When Bell Curves, a test prep company, gets calls, candidates are seeking a “Christmas Miracle”.
Tomorrow on the Tuesday TwitterTalk (December 4th, 9PM ET), we will talk about how to approach the second round applications when your GMAT score is not competitive. You can register here.
One solution to a low GMAT score with less than a month until application deadlines is to broaden the schools to which you apply. While I will touch on a little bit tomorrow during the TwitterTalk, 140 character tweets cannot capture this approach accurately – we need paragraphs.
For most candidates that I’ve worked with over the last nine years who didn’t achieve their desired GMAT score, the least popular approach was to broaden their list of target schools. They were dead-set against it. They were more likely not to apply at all or to go for the gusto with their original target school list. And the results should not surprise you. For those that didn’t apply, most had the same issues with the GMAT a year later (usually because they took the same approach to studying for the test) and ultimately didn’t pursue a full-time MBA program (a few eventually broke down and expanded their school list and are successful MBA alumni and some got their GMAT up). For those that forged ahead with their well below average GMAT score, they received a mountain of rejection letters from MBA admissions offices.
Candidates select target schools based on a number of criteria, including the reputation, link to their career goals, strength of certain areas of study, cost, location, etc. Your target school list and how you form that list is personal. I can’t tell you where to apply and I am certainly not judging why you’ve selected the schools that you have. But in the end, I don’t really care which school you attend, but that you actually attend. This is in part, because I know that (1) differences among top MBA programs are relatively arbitrary and (2) your success will be driven not by your MBA, but by you!
Full-disclosure: I went to a very competitive MBA program. I wanted to attend a school with a strong reputation and top-notch education experience. I got that and more. I had less work experience than the average Darden student, but I had a solid quantitative background, good undergraduate grades and a very solid GMAT score.
In determining whether to broaden your list of target school, I want you to:
1. Consider what is driving your reluctance to broaden your search
Figure out what is driving your decision not to expand your list of target schools. Quite often it’s about our desire to attend a prestigious MBA program. This is particularly strong for those of us who have friends that are attending the top ranked schools in the country. You might be reluctant to apply to different schools because you feel as it you are giving up on a dream or not having faith in yourself. I just want you to understand what factors are driving your decision. This will help you proceed appropriately.
2. Determine why you are going to business school
Earning an MBA is a fine medium-term goal to have, but business school is just a stepping stone. I’m pretty sure that you don’t want getting an MBA to be your crowning achievement. Is it about going to one of your original schools or is it about using the MBA degree to get to your professional aspirations?
3. Identify other MBA programs that meet your needs
Determine what other MBA programs can position you for your career goals. Can you get to your ambitious career goals by attending other MBA programs? In most cases, the answer is “yes”. Find schools with similar resources and opportunities. There are way more than 15 amazing MBA programs out there.
There are a few industries and companies that source their candidates from a small pool of top MBA programs, namely bulge-bracket investment banks, private equity and strategy consulting firms. If you want to work in these areas, often school brand matters.
4. Pursue a hybrid application strategy
You can still apply to your reach MBA schools – if you had six original target schools, maybe you apply to three of them (your first choice plus the school where you think you have the best shot of being admitted plus one more). Then select two to three other programs in which you fit or are close to their average class profile.
Always keep your eyes on your career goals, not on the interim step of business school. Only you can decided what application you will pursue, but make sure that you are making decisions that you will be satisfied with in 5-10 years and that you understand both the opportunities and the consequences of your school selection decision.
