Also, I am a business specialist right now, in charge of 4 people.

If you haven't already made your decision, I'd encourage you to hold off a year - it will give you time to focus on your TOEFL. And for the schools that you're considering, you'll probably want to re-take your GMAT: the average GMAT scores of Columbia, Michigan, and Duke are all above yours - and since your GPA is not great you'll want all the leverage you can with the rest of your application.

However, in waiting another year, you'll be further putting yourself into that grey area of work experience between where an MBA program stops being relevant and an EMBA looks more attractive. You might want to look into options for EMBAs - especially if you think your current employer could help you pay for your studies. Keep in mind that if you pursue an EMBA, your GMAT case will most likely be irrelevant.

<blockquote>Hi,

I am 30 years old (I will be 31 in April), I am from Peru and I have just got my GMAT done (690, 48/36). Though, my GPA is low (Graduated in 2003 - 7 years of work experience).

All the Bs Schools I want to apply for have their 2nd-round date due on January 4th (Or around that date) and are in the first tier (Columbia, Michigan Ross, Duke).

I havent taken the TOEFL yet, so I have to take it before January 4th. (To be honest, I havent started to study for the test yet because I was concentrated on the GMAT).

Here is my deal. On the one hand, I can stop sleeping until January 4th and get the Toefl and applications done. On the other hand, I can wait until next year and apply in the first round, which gives me more chances to get in and get an scholarship. (Applying to a third round is not an option).

I seriously dont know what to do. As pros for applying next year are that I will have more time to get my toefl done (with a better grade) and do my essays (Probably a much better essay because of time). Though, I will be one year older and I dont think I will get promoted because I have just been.

Please help me! What things should I take in consideration to make this decision? What would you do if you were me?</blockquote>

I would also suggest looking at US EMBA degrees available in Latin America, especially if you're worried about financing. The UCLA MBA for the Americas is great value for money. The Universidad de Chile / Tulane University EMBA has been in and out of the FT rankings for a decade or so (http://eng.fen.uchile.cl/index.php/main/contenido/seccion/17/cont/31). The Americas MBA for Executives is also interesting. http://news.vanderbilt.edu/2011/03/top-business-schools-launch-americas-mba-program/

PS Tulane also has this option in Lima: http://www.goldringinstitute.com/programs_mm.html