I got my GMAT score and it's much lower than I anticipated, I got a 670. :(

I am aiming for top US business schools (Wharton, Haas, Stanford, Booth) and intended to apply in round 1, but since the round 1 deadlines close very soon and I'm working on a big project at work I don't think I can put the necessary time in to study and then retake in the next month.

So I'm now in a quite awkward position. I really want to apply to round 1 due to my scholarship needs but applying at these schools with a 670 GMAT score is pretty much sudden death. Round 2 deadlines close in January, which would give me enough time to really boost my score substantially.

What do people think here? How much of a liability is applying in round 2?

I don't see how someone with a 670 GMAT would get a scholarship from these schools unless they had a very rare and valuable profile.

If you want to be admitted to these schools, and are not a one-in-ten-thousand applicant, then apply in round two. If your focus is on financial aid, then apply to much worse schools. Look at: The sad facts about scholarships http://www.find-mba.com/board/37055

Yes, work on your GMAT score and apply when you think you're competitive. It's true that less scholarship money is given out in subsequent rounds, but, if you can't get into a program, the amount of money that's given out in any round doesn't really matter.

OK, I will re do the GMAT. I will get a better score this time!