I am a Chemistry PhD student interested in a career in consulting. My academic qualifications are pretty good but I have a fairly low GRE quant score (730). I am wondering if I should take the GMAT and try to get a higher score. It isn't a total loss because if consulting doesn't work out I may get and MBA and could use the GMAT. My question is would it look odd for a PhD Candidate to report a GMAT score, or does it not matter as long as the GMAT score is high enough?

A good GMAT score is never a bad thing. This said, be careful that if you apply to McK, they'll ask you about GMAT and give you three answers to choose from1 - say that you have never taken the test and you indeed never have2 - tell them the score3 - admit that you have done it but you don't want to disclose the score (I trust they'll check it through GMAC anyway)Therefore, if you took the test and got a low score, pretending that you didn't take it will sure backfire when applying to McK.