GMAT is a popular entrance test taken by management aspirants in India and abroad. It forms a crucial part of the admission process in top-ranked business schools worldwide. GMAT registration is available all throughout the year, and a candidate can appear for the exam five times a year. With a good GMAT score, a student can opt for a coveted MBA/MS program and, later on, explore lucrative career opportunities in the relevant field. Prior to starting your GMAT prep, you must learn about the purpose of taking the exam:
What is GMAT?
GMAT (Graduate Management Admission Test) is a standardized test conducted by GMAC (Graduate Management Admission Council). It is a 3.5-hour computer-based exam designed to check the critical thinking abilities and reasoning skills of the candidate. GMAT consists of four sections focused on analytical writing, quantitative, verbal, and integrated reasoning, respectively. The exam is generally challenging in terms of difficulty level, with the verbal and quantitative reasoning sections being computer-adaptive in nature.
GMAT score basically reflects your aptitude and academic preparedness for the corresponding management degrees and related courses. Most of the candidates devote 2-4 months to GMAT prep.
Who should take the GMAT?
GMAT provides a gateway to the best management programs and similar business degrees in topmost educational institutes. It is usually taken by the budding managers and entrepreneurs who want to pursue higher education abroad. After completing their master’s degree, the students can avail themselves of high-paying job profiles in global corporates or start their own venture. In GMAT-accepting institutes of India, the average placement salary of management graduates is around Rs. 20-23 LPA. Likewise, in the renowned business schools of the US, such as Stanford, Harvard, etc., the average annual placement package goes up to above $200k.
Owing to the flexible scheduling of GMAT, both the freshers as well as working professionals can conveniently opt for the exam. Besides, the GMAT score is valid for 5 years after the exam date.
Where is GMAT Score Accepted?
GMAT scores are accepted for over 7000 programs at 2300 institutes across 110 countries. In India alone, GMAT is considered by more than 100 B-schools, of which the top ones are as follows:
- ISB Hyderabad
- IIM Ahmedabad
- IIM Calcutta
- IIM Bangalore
- XLRI Jamshedpur
- MDI Gurgaon
- SPJIMR Mumbai
Amongst the global institutes, the highest-ranked GMAT-accepting B-schools are listed below:
- London Business School
- Wharton School (University of Pennsylvania)
- Harvard University
- Stanford University
- Columbia University
- INSEAD
For enrolment in reputed management institutes, it is recommended to target a score of 700 or above in GMAT.
Other Benefits of GMAT Score
Apart from being an admission criterion, your GMAT score can prove beneficial in various other aspects. For instance, the top-scoring candidates often bag scholarships based on their marks in the GMAT. The scores are also helpful for securing internships with prestigious organizations. Further, several consulting firms use GMAT scores as one of the evaluation parameters to assess the job applicant’s capability. In other words, your GMAT prep plays an important role in gaining multiple benefits on the professional front.
Today, a majority of companies seek candidates from top-tier business schools. Hence, with a high score on the GMAT, you are bound to land in your dream career destination. You can always check out sites like CareerLabs to further your understanding on all things GMAT.