Congratulations for surviving a GMAT. 640 is a good score. It is true that big consuting and investment banking firms consider GMAT score when hiring MBA students (they are the only industries that do). From what I heard, they aim for around 700.
That said, I am under the impression that if a student is not a native English speaker and did very, very well in the quantitative section, that might be considered too. If you want to, you could retake the GMAT. Admissions only consider you best score so even if it you do not get a better score, it does not matter. Another option is waiting to be in the program and making sure that these are the industries you are targeting. If so, you could retake the GMAT at that point
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