GMAT 2020 NEWS
The number of applications from India for the Graduate Management Aptitude Test (GMAT) has been increasing in recent years, as many MBA colleges in India use GMAT scores for admission to their management courses. Even though the most popular MBA Entrance Exam in India is the Common Admission Test (CAT), the opportunities available amongst GMAT accepting colleges are nothing to pass by. Many Indian B Schools have even replaced popular MBA exams like MAT, CMAT, etc with GMAT.
Over a hundred MBA Colleges in India accept the GMAT score, including IIMs, ISB, XLRI, SPJIMR, and many other top B-schools. These MBA Colleges offer both a year program as well as the two-year Flagship program. This also provides a great opportunity to foreign students, NRI students and the Persons of Indian origin (PIO) to apply for all the MBA programs in India on the basis of GMAT scores.
Most of the Indian MBA Colleges accepting GMAT score offer one year program with some having a time duration of 12 months and a few with 15 months. For the two year program, MBA colleges accepting GMAT scores for Indian students have GMAT cut off in the range of 550 to 750. This means a GMAT percentile score range of 80 to 95. However, it comes with a pre-condition, as the score remains valid for just two years against the normal validity period of five years.
GMAT has been looked like a gateway to some great program across the world including India and there are a few reasons for it:
Apart from IIMs located across India, there are other business schools that also accept GMAT scores. Here is the listing below the top Indian B-Schools accepting GMAT in different cities across the country:
|Ahmedabad||IIM, MICA, Adani Institute of Infrastructure Management, Entrepreneurship Development Institute of India|
|Bangalore||IIM, Vanguard Business School, School of Business (Alliance University), BIMS, Acharya School of Management, Seshadripuram Institute of Management Studies, BIIM, IFIM Business School, ISBR Business School, Seshadripuram Institute of Management Studies, International School of Management Excellence, IBA|
|Bhubaneshwar||XIM, Asian School of Business Management (ASBM), School of Management (International Institute of Management)|
|Chennai||Great Lakes Institute of Management, School of Management – SRM University, IFMR, National Management School, National Schools of Business and Management Private Limited|
|Coimbatore||PSG Institute of Management|
|Delhi NCR||FMS, ISBF, NIFT, Delhi School of Business, School of Management and Entrepreneurship, IILM Graduate School of Management, G L Bajaj Institute of Management and Research, Galgotias Business School, JRE School of Management, MDI, SOIL|
|Mumbai||S.P. Jain Institute of Management and Research, School of Management (NMIMS), K.J.Somaiya Institute of Management Studies & Research, National Institute of Securities Markets, Prin. L.N. Welingkar Institute of Management Development and Research, TISS, ITM, Centre for Management, MISB Bocconi – Bocconi India|
|Pune||School of Economics, TASMAC, Europe Asia School of Business, FLAME, College of Commerce (Shivaji University), School of Telecom Management, Lotus Business School, College of Commerce and Management, Apex Institute of Management, Pune Institute of Business Management, Sadhana Centre for Management & Leadership Development|
Other MBA Colleges with the campus at various locations:
The cost of pursuing an MBA in top Indian B-Schools attracts large sums of money. However, with an attractive post-MBA salary package, the Return on Investment is no small thing. Thus, it is important to be aware of both the cost as well as the return on Investment before taking admission in top MBA Colleges.
Companies like Deloitte, Amazon, PwC, Accenture consulting, HSBC, Microsoft, etc. hire the candidates for positions of Assistant Vice President, Consultant, Principal Consultants, Senior Manager (M&A), Product Manager, etc. Most of these companies offer high packages to the recruited candidates.
For working professionals, the factor of the opportunity cost has to be considered. Thus, those who do not wish to pursue a full-time program can consider the one-year executive programs offered by the IIMs or the ISB. It is highly recommended to the working professionals having a work experience of three to four years, as it would open the doors to the leadership role or can help in switching careers.
GMAT has been preferred over other tests due to multiple reasons of which a few are listed below:
Score Improvement: A candidate who does not want to wait for the next year to better the performance, has an upper hand while taking GMAT, as GMAT allows the candidate to take up the exams 5 times in a year. This means that the candidate who wants to improve the score can try multiple attempts until satisfaction. The best part about this is that the best score out of all the examinations is considered. Candidates must ensure that they only consider retest when they know that there is a scope improvement as some of the Universities even take average scores of all the GMAT attempts.
Skills tested: Many top recruiters rank GMAT higher than other tests as there criteria if skill matching is same as that of GMAT and that these skills will be valuable to them. Leadership roles in these companies require a person who can articulate an idea and convert them into proposals. Having a good score in Analytical Writing Assessment would even make your case for recruitment stronger.
Validity of GMAT Score: The validity of the GMAT examination is of five years. This not only gives the candidate a chance to improve on the score further but to analyze if the same score would yield a better result next year. The candidates can even gain more work experience before sending applications to the Indian B-Schools. Meanwhile, there is a limit of two years on validity for those applying for the full-time MBA program in Indian B-Schools. Even the limit, as well as the work experience required for various universities, is different.
Choosing the right program suitable to your current profile
It can be sometimes difficult to evaluate the right type of course which can be best suited to the current profile. Given below are three different scenarios which can help in better evaluation:
Scenario 1: If the candidate is a fresh graduate
Preference: Two-year full-time MBA Course through a top Indian B-School. This is because, with little or no work experience, the candidate has more time to build a solid foundation. The two-year program offers more flexibility in time as well as knowledge gains. Other things include more opportunities for internships and acquiring a real-world business experience, networking opportunities.
Scenario 2: Having work experience of two to five years
Preference: Completely depends on career goals. If the foregone income is not an issue then a full-time program would be the best choice. However, many candidates are taking up executive programs as it is of a shorter duration, is in a condensed format and will even offer to switch the industry.
Scenario 3: More than five years of work experience
Preference: It depends on the current financial situation and career goals.
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