I went to a UC school, and graduated with a GPA below 3. 0. I have since worked for two large and reputable mutual funds, and would like to pursue a career in finance. If I earned a master’s degree in Econ before applying for B-school, would an MBA admissions board look at that GPA, or consider it as improvement over my undergrad average? I want to know if there are any ways to increase my chances of being accepted aside from a good GMAT score or volunteer/nonprofit work.
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A masters degree certainly would help you, but the primary thing you’re really going to need is an amazing GMAT score. Without it, you don’t stand a chance. With it, you may not need the masters in econ.
In fact, what I’d suggest you try is prep for the GMAT now. Take a sample GMAT, and get the Kaplan GMAT prep book and do it in depth. Then retake a sample GMAT. See how you do. See if your GMAT scores are on the high sides of the ranges for the MBA programs you want. If they are, apply now. If not, then get the MS in econ.
If you apply now, and don’t get in, then get the MS in econ and apply again.
Why limit yourself to the top 25 programs? Top in what? Reputation, quality of teaching, starting salaries of graduates? There are a hundred other schools that are as good as many of the top 25, and many of them would be happy to admit you, given your grades, a good GMAT score and your work experience.
Before you consider getting an Economics degree consult the Official MBA Guide, a comprehensive free public service with more than 2,000 MBA programs listed worldwide. It allows you to search for programs by location (US, Europe, Far East, etc. ), by concentration (finance, marketing, aviation management, health management, accounting, etc. ), by type of program (full-time, distance learning, part-time, etc), and by listing your own criteria and preferences to get a list of universities that satisfy your needs. You can use the Guide to contact schools of your choice, examine their data, visit their web site, and send them pre applications. You can see lists of top 40 schools ranked by starting salaries of graduates, GMAT scores, and others. It’s the best service available at http://officialmbaguide. org.