Graduate Management Admission Test or GMAT is a standardized exam conducted to analyze the academic skills of the test-takers in MBA (Masters in Business Administration) programs. GMAT scores are used by the top-most universities across the world to evaluate the candidates’ skills. In this article, we are discussing why taking the GMAT exam is important and how it can help the test-takers in their professional life as well.
Why giving the GMAT exam is important?
- GMAT refines your communications skills- Every single question asked in the GMAT exam are directly related to the business world. The students preparing for GMAT can improve on their communication skills and GMAT verbal section is useful in testing how efficiently the candidates can communicate. By strengthening your communication skills, the candidates are not only investing to get admission in top-most B-Schools but they will learn a lot more about the existing business world as well.
- MBA abroad- The main reason for giving GMAT is to do an MBA abroad. The B-Schools and colleges across the world consider GMAT test scores to give admissions to the eligible candidates. Some of the top B-Schools that consider GMAT scores include Harvard Business School, NUS Business School, Stanford Graduate School of Business among many others taking candidates based on their GMAT scores. Besides, there are many Indian colleges and universities that accept GMAT scores which include ISB, Hyderabad; S.P. Jain Institute of Management and Research; School of Management to name a few.
- Employment- The students who gave the GMAT test can explore wider career opportunities, many employers consider GMAT scores in assessing the candidates’ qualifications and skills and the GMAT test takers can stand out from a pool of candidates. Investment Banks are one such type of employers that look for candidates with GMAT scores. The employers value those professionals who have graduate degrees and business and post completing the studies from the management schools, the students can get easy access to the world’s leading companies like Google, Facebook, McKinsey, among others.
- More Opportunities – GMAT test takers can explore a wide array of business schools to apply for different business and management programs. Since the GMAT scores are accepted by almost 1700 universities for more than 6000 programs, so there are wider career opportunities which the students can explore post giving GMAT tests.
- Wider Exposure – Since the GMAT score is widely accepted by most of the renowned national and international B-schools, so it gives a wider opportunity to the students to meet and interact with working professionals from all over the world. This allows professionals to get high career exposure, good pay-packets, and other perks.
- Flexible Application Process- The candidates can give GMAT tests throughout the year, hence the application procedure is considered as the most flexible. Also, there is no specific GMAT exam date, though it is advised to take the GMAT test with at least 2-3 months of preparation. Also, the candidates planning to apply top a B-School are advised to give the GMAT test at least 3-4 months prior to the starting of the B-Schools admission process.
- Most Relied Score- Giving GMAT is one of the prerequisites to get admission to an MBA program, and the test is considered as the most reliable score by the B-schools to evaluate a candidate’s readiness and skills for different programs. As per the data, 9 out of 10 MBA enrollments are done based on the GMAT score which is the most reliable way to select the eligible candidates.
- Readable GMAT Syllabus– While preparing for GMAT, the candidates can get familiar with all the topics that are taught in high-school. Since it is a computer-based test and adopts a certain algorithm to set the difficulty levels of the questions, so it is important that the candidates taking this test must have a strong foundation of basics so that they can solve the comprehensive questions asked in the test.
- Room for error- Unlike most Indian admission exams, where your future depends on a single 3 hour period which makes it difficult for the students to focus due to being overstressed. But this is not the case in case you are giving GMAT, as the students appearing for it are allowed to give it 5 times in any 12-month period. So there is always a scope of improvement.
- Level of difficulty keeps on increasing – GMAT is an online test and with each attempt, the level of difficulty also keeps on increasing gradually. Similarly, in case you give wrong answers, the questions asked will keep gets easier. Because of their ability to calculate the examinees’ level of knowledge, it is helpful in getting an accurate and precise result for every single student. The GMAT test is designed to evaluate the individual’s business instincts and how he/she can stand out from the others during the admission process.
- 5-year validity- Once given the GMAT, the score will remain valid for 5 years. So anyone planning to do an MBA can give the test today but can apply to colleges next year as well. This is beneficial for the students as they can prepare for the exam as per their time
So if you are applying to business school, then taking the GMAT is an important part of your application process. Today many business schools started accepting candidates’ GRE scores as well; however, the GMAT scores are still considered important standardized test scores for pursuing MBA. In addition to helping you to get admission to any business school, the GMAT scores are also useful in getting scholarships to sponsor the education and stand out as an applicant for competitive internships. In case you are not planning to apply to a business school, then you don’t necessarily have to take the GMAT. GMAT scores are not mandatory to any graduate programs besides business school and in case you are planning to go to a graduate school for anything besides business, then you probably won’t need to take the GMAT as well.
Why Do Business Schools Consider the GMAT Scores to give Admissions?
Many students might be wondering why they need to give GMAT test to get admission to the top-most colleges or B-Schools. First of all, let’s discuss that the GMAT is specifically designed to test at checking the skills of the candidates that are needed in an MBA program. The questions are designed to see how well a candidate can solve the types of problems that they might encounter while doing an MBA program and even after that as well. The GMAT score of the candidates gives an idea to the admissions committees whether you will be able to handle the rigorous course load at their business schools or not. Since the GMAT is a standardized test, so the content and style of the questions asked in the test remain the same for all test-takers across the world. However, the level of difficulty and content that are covered in undergraduate coursework varies widely from class to class. Considering GMAT scores allow the B-Schools to judge the candidate’s problem-solving skills as well. The business schools care about applicants’ GMAT scores as it will contribute to the schools’ national rankings. The better the average GMAT score of admitted applicants is, the higher that school’s rankings will be. By getting a higher ranking, the particular B-School will be able to attract more applicants in the future.
What Are Other GMAT Uses?
GMAT score of the candidates can have an impact on more than whether or not you are accepted in any business school or not. Some other advantages of using GMAT scores include getting selected for the merit-based scholarships by the B-Schools and getting a respected job post completing the studies from the business school.
There is no second opinion on the fact that the business schools are not expensive, so the students who want to get admission in B-Schools look for some alternatives like federal student loans, private loans, or saved money to continue their studies. But unfortunately, every student doesn’t have access to savings, and it can many years to repay the loans. So in n that case; scholarships are the best way to get money for the business school which you don’t have to pay back. Scholarships are granted to the students based on merit which means that it will be granted to the students who showcase exceptional skills. Though the selection criteria for some scholarships can be incredibly vague, the candidates who have a strong GMAT score will be preferred as compared to the ones who don’t. By boosting your GMAT score, you are simply strengthening your chance of getting a scholarship.
- Your GMAT score will be much useful beyond classroom learning, as many consulting companies like McKinsey, Accenture ask the applicants to show their GMAT scores at the time of applying for the job.
- The interviewers specifically asked the candidates about their GMAT scores at the time of applying for the jobs. Many
- Even getting the Internships and jobs at the renowned consulting firms is more difficult to get as compared to getting admissions into the business school. Since the consulting firms receive applications from the students all over the world, so the level of competition is much higher.
- There are many hundreds, or even thousands, of applicants who compete for a single internship. So the consulting firms use GMAT scores as the best way to access the applicants, the students with high GMAT scores can get consulting jobs and internships as well which is also a quite daunting task in the present highly competitive world.
For the past, so many decades, the Graduate Management Admission Test (GMAT) is considered as the most trusted and accepted test by more than 1,700 B-schools for over 6,000 graduate business programs. GMAT offers the best career growth to the candidates and it can impact their professional skills as well. GMAT is taken by a non-profit organization- Graduate Management Admission Council or popularly known as GMAC. In India as well, the GMAT score is widely accepted by the more than 100 B-schools for more than 200 business programs. So pull up your socks, and chase your dreams to pursue MBA from a renowned university or B-School by getting a high GMAT score. All the Best for the future!!