Mr. Young Intrapreneur

I like you but your first choice school is known to overindex GMAT scores so as an Asian or Indian with a 660 GMAT, you are at a severe disadvantage at Columbia Business School. To give you a snow ball’s chance in hell, you would have to do one of two things: 1) Keep retaking the GMAT to get into the 700s, or 2) Cross your fingers and apply for entry in the January cohort where the admit rate at CBS is substantially higher than it is for the more common fall cohort. Here’s our analysis on the difference: Last year, CBS admitted 233 of the 528 applicants who applied under that January option for an acceptance rate of 44.1% (compared to 41.3% the year before) versus the 14.5% rate for admits to its full two-year program. Some 204 of the January admits enrolled for a yield rate of 87.6%. In comparison, Columbia admitted 795 of the 5,501 candidates who applied for its September cohort, enrolling 552 of them for a yield rate of 69.4%.

just asking? Are you currently starting a new unit of an established company, or are you leaving an established company to start a new business. You call yourself an “intrapeneur” and say “An intrapreneur currently involved in launching a new group within a large organization” –that is OK, which large organization? You say “Previous experience has primarily been in Investment Banking in New York and Singapore.” Does that mean you are starting a new office within those banks? If not, what does it mean? REAL IMPORTANT
Agree with all others that GMAT is low and retake could get you near 700, and probably keep taking til that happens.

Hi Mr. Intrapeneur: Emily here, Master Consultant at The MBA Exchange and former Associate Director of Admissions at CBS. You’ve certainly had success in undergrad and in your professional life to date, and I doubt any MBA program will have serious concerns about your ability to handle the rigor of their programs. The problem is, you’re up against competition that has it all—including high GMAT scores so you’re right in assuming the 660 will be a real issue in the admissions process at CBS and really any of the very top schools. I’d certainly recommend taking the test multiple times with as much prep as you can manage and then maybe even trying the GRE. You may move the dial 20-30 points and then just have more options as you look at your broader list of schools. I also recommend fleshing out your goals more specifically. Lots of applicants will say they want to move into VC and it can be a tough industry to break into. What would you uniquely bring to the VC field, post MBA, that makes your candidacy compelling? What would make your fund in Asia successful when so many others will try to do the same? If you are able to make a strong case for why you will succeed at your goals and have a well thought through plan, you will see a lot more success in this MBA application process. Best of luck!

Hi, Mr. Young Intrapreneur, thanks for writing in. I’m Julie-Anne Heafey from mbaMission. I like your GPA and your mentoring (and fun tea tasting hobby), but you honestly don’t seem all that ready to apply yet. Why go to business school now? Personally, I think you’d be better off waiting a bit longer and gaining some more experience. Has your initiative actually launched yet or is it still in planning mode? One of the strongest things you’ve got going for you might be this venture if it succeeds, but it sounds like it’s still getting off the ground. My view is that you’ll need to have some results and impact to show for your work, and I’m not sure you’re there yet. I also agree that you need to retake the GMAT or try GRE for the schools on your list (660 won’t cut it at CBS, esp for August entry), as well as revisit your goals. Selling your leap from “intrapreneur” to VC is may be tough –these situations don’t have the same risk or reward profile, so you’ll need to convince the adcom that your experience and connections will translate. MBA admissions committees tend to be skeptical around applicants with VC dreams…so make sure you’ve got a very strong pitch or adjust your plans. GOOD LUCK!

Hi Mr. Young Intrapreneur – this is Melisa from Stratus Admissions. Unfortunately I am going to give you some ‘tough love’. While it sounds like you’ve had some great professional and extracurricular experience, you are going to have a very hard time overcoming your 660 GMAT – especially since you are a part of a competitive demographic whose GMAT scores tend to be 20+ points higher than the average. While your GPA in quant classes will help you show schools that you can handle the academic rigor, most of your target schools saw an increase in their average GMAT scores, even as applications were declining. I would suggest taking the GMAT again – or even considering the GRE. This said, I did work with a client recently who was successful at Columbia with a lower GMAT score. She had similar years of experience and significant advancement in her career throughout that time. I think her candidacy almost started a year before she applied with all of the connections and outreach she did with the school. Start connecting with schools now. If you can get your GMAT score up (30-40 points) and Columbia is your dream school, then also apply ED. In additional, I would want to dig into your goals. Why VC? I like the mentorship string I see – can you tie that to something professional to show a pattern of mentorship? Based on what you’ve provided, it’s tough to understand where IB comes in – unless it was internships during undergrad. Maybe wait a year, work on your GMAT and continue to grow (get promoted) at your current job. I think all the schools on your list put you at similar odds. Reach out if I can answer any other questions.