Value of work experience (vs. previous weak graduate grades)

[econsoc]

Could anyone offer their opinion regarding the value of relevant work experience in mitigating weak previous graduate grades in top school applications.

I only "passed" (grade average of c. 59%, which cannot be readily compared to US grading system though) my M.Sc. Economics degree about 6 years ago from nr. 1 UK economics program and worked as management consultant (1 year) and in investment banking c. 3 years until last year. Undergraduate grade average should translate into GPA 3.5 - 3.8 (again, conversion seems a bit arbitrary).

Am planning to do research on the very financial markets I worked in previously, but am worried that my "pass" in my M.Sc. will automatically block any chances of acceptance to top EconSoc schools (Michigan, Cornell, etc.).

No GRE scores yet, but I am not accepting miracles.

What programs would be realistic to look at/ apply to?

Any views/ advice?

Thanks!