For the majority of business schools, the Graduate Management Admission Test (GMAT) is one of the key portions of the application process for students preparing for business school. According to the Graduate Management Admissions Council (GMAC), the organization that created the GMAT, the exam is a “highly reliable predictor of student performance, as well as the most powerful tool available to graduate management admissions professionals for measuring the skills students need to succeed in today’s classroom.”
The exam is available in 114 countries and there are over 600 test centers around the world. The purpose of the GMAT exam is to give admissions professionals an insight in to how students will do while completing the business curriculum. This is a great tool for business school admissions and also a great opportunity for applicants to show that they do possess the capability to be successful in a business program. The GMAT measures analytical writing and problem solving abilities, and addresses data sufficiency, logic and critical reasoning.
Not every business school requires the GMAT for admission. However, it is essential to prepare for the exam in advance and to take test preparation seriously. The better your score is on the GMAT, the more likely you will become a top candidate for admission at the school of your choice. A high exam score can also help you to stand out among the other admission applications.
One of the best ways to prepare for the GMAT is to complete a GMAT prep course. Some business schools offer students prep courses on their campus. These schools often also offer a waiver for application fees if students complete the course at the school. The LeBow College of Business at Drexel University offers students a unique financial incentive to complete the GMAT prep course on its campus. Those who create an admissions application for LeBow before starting the prep course will receive a $50 discount for the prep course. If an applicant scores above a 570 on the exam and is accepted to LeBow, the prep course is free and the $750 that was paid for the program will then be applied to the cost of the program tuition.
GMAT prep courses help prospective students to refresh their knowledge of analytical thinking and problem solving, understand the test structure and improve test scores. The Drexel course consists of six classes, reviewing the math and verbal materials in the GMAT as well as test-taking skills, strategies, hints and shortcuts on how to answer the questions.
If attending a prep course doesn’t fit in to your schedule, there are other options for at-home study. There are an abundance of prep books and online tutorials available to prospective students. GMAC offers test takers several study book options. There are several test area specific books available, including books specifically for quantitative review and verbal review. If you are taking the exam for a second time to improve your score, getting one of these area specific review books can be helpful when you identify where your weaknesses on the test are. Other top rated preparation books are published by Manhattan, Kaplan and the Princeton Review.
In addition to independent study from preparation text books, another option for students who have busy schedules is to complete a GMAT prep course online. The price for these online courses can range from $500 to over $1,000. The Princeton Review offers three different online prep courses, including a small group course, an ultimate course and a self-paced course.
U.S. News & World Report interviewed exam experts and ask for the best advice for those preparing for the exam. The report states that students should take their time when choosing study materials and that they should not choose as many as they can, but instead do research on the best fit for you and choose one or two options. Students should also be sure to create a study plan and be sure to stick to their schedule so they can cover the maximum amount of material and be prepared to take the exam, as well as watch their pace of study. Make sure that you are retaining what you are reviewing and spend time on the areas that you feel are your weakest.
U.S. News also ranked the top ten business schools with the highest GMAT scores. The top five included, Stanford University Graduate School of Business with the average GMAT score of 732, The Wharton School with the average score of 728, Harvard Business School with 726, The Chicago Booth School of Business with 724 and the Stern School of Business with the average GMAT score of 721.
No matter how you plan to prepare for the GMAT, it is important to take the time to study and really learn how to take the exam to be successful. For more information on the GMAT, exam and study tips as well as information on top-ranked MBA programs, visit metromba.com.