hey guys, for those who have taken the GMAT, is there a strong correlation between SAT and GMAT scores? I've heard that there is, but thought I'd check in with some folks. Also, did anybody not study for the GMAT at all?
1) i want to take the gmat
2) i have very little time to study
3) i did very well on my SATs
4) can i count on doing well on my gmat with little preparation
5) or is that naive and stupid?

i definitely think that you hit diminishing returns fairly quickly, although if you want to hit 770-800 and have confidence in doing so then you need to study quite a bit.

i suggest that you take a few practice GMATs. i think GMAC has one on their website. if you like your score, then go ahead and take the exam.

There is definitely a correlation between success on the SAT and GMAT. That being said, I think it is hard to score really well without any study due to the weird, old, and non-standard math and the abundance of sentence correction in the verbal section.

I knew I had to do well on the GMAT's to get into any respectable school because of a wretched undergrad GPA. I also knew that if I was going to do well, I'd have to do well on the math part, as it was my strong suit. So, when I decided to take the plunge, I took a practice math exam (to see if the whole notion of getting an MBA was even feasible). That was the extent of my studying. A month later, I took the GMAT and got a 760.

Josh

Josh,

good, lol. i mean, obviously i would study, but i was trying to gauge where it was on the spectrum between like SAT --> MCAT in terms of necessity of preparation. sounds like its much closer to SAT.

definitely closer to the SAT than the MCAT. i'd put way more prep time into the LSAT than into the GMAT, for example.

Outside of learning some math things and grammar rules for sentence correction, I think the GMAT is largely about getting used to the format and type of test questions.

also, i bet SAT and GMAT scores are highly correlated. moreso than SAT to MCAT or SAT to LSAT.

My update: I applied Round 1 to Wharton, Kellogg, and Chicago Booth. I'm planning on also applying to MIT Sloan, but that's not due for another 10 days, so I have a little time to breathe. I feel pretty good about my apps, but we'll see. A friend of mine saw the powerpoint I sent to Chicago Booth and couldn't stop laughing.

Anyone applying in Round 2 who wants me to offer suggestions/edit your essays, let me know. No charge; consider it networking.

good luck lozcolbert and let me know if your looking into energy trading. I can toss you a few leads.

i have been slammed with work and a small energy trading conf i am throwing but applying to all schools in round 2/3

I applied to a few business schools a few years ago with an extremely lackadaisical go-for-broke approach. I did not want to be in a situation where I was accepted into a program and was not sure I wanted to matriculate. I applied to Kellogg, Columbia, Sloan, and Chicago. I went 0-for. I received personal feedback and repeated urging from one interviewer even after rejection that I should re-apply, which I did not. He suggested that I play up the poker angle more. I thought the most difficult part was securing letters of recommendation. However, my former supervisor told me that he made it sound like the company went down after I left, which I found amusing.

2 years consulting. several years poker. 750 gmat. wharton undergrad. asian-amer.

take it for what it's worth.

Hey everybody,

Just found this thread today, but I graduated from Acton 2 years ago and am somewhat surprised they didn't answer specific questions but also feel I understand their reasoning.

That being said, I had an awesome experience there and would be more than happy to answer questions.

re: mikekul

basically you're me (almost same schools and everything) except you're asian. which is significantly worse from an admissions perspective -- at least it is for undergrad and law school; i assume for MBA too. that scares me.

where did you get interviews? did you have a defined career goal? sounds like at least one interviewer loved you, so i guess interviewing wasn't the problem.

did you not play up poker at all?

That Sounds fairly stellar to not get any acceptances mikeskul.. Do u think could be a commitment issue?

I used this: http://www.amazon.com/How-Get-Into-T.../dp/0735204500

It was pretty decent as an overview, although I ignored the sample essays etc.

Basically, you just want to convince the admissions staff that:

1. You can complete the program.
2. You need an MBA to do "great things"
3. You need one _right now_
4. You are going to add something unique to the class

Playing up the poker angle seems fairly solid. Having a pro/semi-pro/winner of a $1 SNG poker player in the class mix would add a unique twist to things.

The thing to remember is that admissions people are looking to create a diverse class. An MBA is very different from, say, a physics phd. With a PHd, it's all about how smart you are and with an MBA, it's about how different you are from other people (so you can share unique things)

What are you doing now? What about your classmates? What percent had jobs coming out? How many of them started a company during or soon thereafter? Do you think Acton is a completely different experience than a normal MBA?

What should I ask that I didn't?

I am a financial analyst for a niche financial services firm. I also had a short-term consulting arrangement with a social marketing start up in Austin.

What my classmates are involved with is as varied as the members of the class. Some examples include:

- sales director at one of the top companies to work for and fastest growing companies in Austin,
- partnering with a psychologist who has an affair-recovery system and raising 750k to take it to market,
- running a company that was bought by a private equity group headed by another alumnus
- Director of operations for a non-profit
- Starting a speaking and political consulting company
- Many others have been involved with start-ups with other classmates or other people outside of Acton

Not a high percentage had jobs coming out at all and that was definitely one of my wife's knocks on the program. Acton's philosophy is that, this is only one year of your life instead of two and you should throw yourself 100% completely into it. That is not to say you don't take steps to define your path while in the program but it definitely isn't a traditional job search (see http://www.actonmba.org/news/acton-b...well-call-you/

Nobody starts a company during. There is no time for anything other than Acton. I'm not sure of a number who started a company or started doing their own thing w/in a few months but I would venture to say it's approximately 25% of the class.

Obviously I didn't attend a different MBA program, but I know a few who went through some state school ones and based off those experiences, I KNOW Acton is a completely different approach to getting an MBA.

The only question you should have asked that you didn't is a question to yourself. Do you want to be an entrepreneur in life - or even more broadly - do you want to run companies that make a difference in the world? If the answer is yes, then go visit a class - I promise you'll know if Acton is the place for you within 10 minutes. If the answer is no, then that's perfectly fine as well, but I wouldn't go to Acton.

I'd be happy to help with anything else I can.

I didnt feel like trolling through this whole thread, but I think getting any kind of advanced degree is always a good idea. I'm getting my MBA from WashU in St. Louis right now and we are somewhat known to be a school that recruits many "young leaders" (those without 2 years+ of relevent work experience. GL to you

Just inquiring on everyone's status of their Round 1 apps. Any completed interviews yet?

Loz/others,

what are your thoughts on a poker player going straight from poker into applying? beyond just getting in, will our job opportunities be diminished?

obviously we'll be less qualified than many for a lot of positions and since the MBA is probably the easiest/best way to jump into a new career, are we better off working for a few years and then applying or will we have enough opportunities that it would be silly to "waste" our time working when we could be either playing poker (more $$/fun) or getting the mba sooner?

assume that we've done some bonus things too (cfa, maybe a side venture, etc.)

Submitted Round 2 for UChicago, Columbia, and NYU. gogogogogo

fyi, i got rejected at the 4 places i applied in rd 1. wharton/mit/kellogg/chicago. The only school I'm applying to in round 2 is Acton.

I don't think it had anything to do with my apps or essays, I think it says more about MBA admissions committees than it does about me. I was hoping to get rejected to the last two schools so I wouldn't have any tough decision to make in Kellogg v Acton, because I'm actually pretty excited about Acton (though I haven't been accepted yet).

What do you mean by that? Surely there must have been something in your application that was keeping you out (undergrad, work experience, recommendations, etc).

If you get rejected in round 1 by a school, is it worthless to apply again in later rounds even if you can show some improvements (say a higher GMAT score)?

Apply again that same year? Pretty sure I've never heard of this and it might not be allowed. I would contact the adcom though and tell them about your higher GMAT or whatever, probably won't change things but worth a shot.

As a European student who would like to get an MBA, how important are grades and time it takes to finish the bachelor? Also, I'm studying both, business economics and business engineering (about 2/3 engineering), how helpful is that going to be?

Why do they have the different rounds then? I've been under the impression that you really have to have your **** together to get accepted in the first round, then the standard is lower for second round and then again for 3rd?