Hi all,
Need a bit of practical advice here.My brief profile is as follows:

28 Female, Married, Indian IT professional working in one of the best known Software product company-5.5 years experience. GMAT score 670 + completed graduation in electrical engg.Apart from my work I love travelling and have travelled both for business and for pleasure inside and outside the country. I am actively involved in social services- currently working in a project to ensure quality education for all Indian children.

I am interested in going abroad for an MBA but at the same time I would go for something which is expected to give me good prospects after my graduation. Could you suggest a few good schools that I can take a shot at? Thanks.

U.S. and Europe, that's quite a huge field... The good thing is that your profile is pretty strong, in terms of work experience and a solid GMAT score. You're in probably the most competitive MBA subset - the "Indian IT professional," but good competition shouldn't hurt you too much.

I'd say you might have a shot at some top schools, although medium GMAT scores at top tier schools are generally higher than 670... Columbia/Harvard/Wharton/Stanford/INSEAD/etc. all have median GMAT scores of 700+.

With this in mind, If I were you I'd hedge my bets. Maybe apply for two or three top tier schools. And then another two or three lower ranked schools... Maybe USC, IESE, University of Texas at Austin.

Geographically, I think the current consensus is that the U.S. economy's in slump and it's harder for MBA grads to get a job after graduation, versus countries in Europe. BUT, who knows what things are going to be like in the 2-3 years it takes for you to apply to a program, matriculate, and then graduate. But you might want to think about where you'd like to end up after graduation, nonetheless.