GMAT 640 (Q49/V28/IR6/AWA5)- MSc finance

Prepwise AnswersCategory: GMATGMAT 640 (Q49/V28/IR6/AWA5)- MSc finance
Greston Wise Staff asked 5 years ago

Hi Kate,
I recently appeared for GMAT and got the scores:- 640 (Q49/V28/IR6/AWA5). I am interested in applying for MSc finance in the top 25 world universities. But I am now not sure if a GMAT 640 is competitive or not. My strengths are that I am a Chartered Accountant from India (US CPA equivalent) with 2 years of work ex in a back office role of a multi-national Investment Bank and have had an outstanding academic record till now. I understand, many universities dont require work experience for MSc Finance. Also can bank upon the quant score of 49 since I understand, such courses are quant based? Or such an unbalanced score can hamper my chances.
Should I retake the GMAT or work heavily on my essays, recommendations,etc to make my case strong for the admissions committee?
Please help!

1 Answers
Kate McKeon Staff answered 5 years ago

Good news, bad news.
While MS Finc is a very quant based program, 640 is not competitive in the top 15 schools. I’m less familiar with those below that. The 49 is okay, but because the MS Finc is a quant based program, a 49 is basically at the LOW end of the scale even though you’re really limited to 50/51 as improvements. Almost 8% of GMAT test takers are now scoring 51. You need to be in that 8%. 
So, your verbal is dragging down your overall and your quant is okay but not great. You’re also applying from a location that sends a LARGE number of applications each year. Even with impeccable work history, if none of that work history is in the US or Europe, you are are one of millions. (small exaggeration) 
Improve your verbal a lot and improve your quant a bit. The programs I know well for MS Finc wouldn’t be impressed with a “native” English speaker (you’d be considered such by virtue of home country even if it’s not true) scoring that poorly on verbal with such a relatively average (among candidates) quant score. Keep in mind quant for top MBA programs needs to be 48+, 47 at least (with strong verbal) and MS Finc programs consider those kids quant-challenged. 
If you can improve your score AND get work experience in US or EU or UK, that’s a win. 
Best wishes and keep after it!