What Are The Benefits Of GMAT Exam For MBA?

Benefits of GMAT Exam For MBA

The Graduate Management Admission Test (GMAT) is a standardized test that measures the Verbal, Quantitative, Analytical and Integrated Reasoning skills of candidates who aspire to pursue a graduate degree in business or management. The Graduate Management Admission Council (GMAC) administers the GMAT. The GMAT is accepted by more than 7,000 programs at over 2,300 graduate business schools worldwide. The GMAT is designed to help business schools assess applicants’ potential for advanced study in business and management.

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The GMAT exam aims to provide a standard and objective measure of academic aptitude and readiness for graduate business education. The exam is a valuable tool for both applicants and admissions committees. The GMAT exam helps admissions committees select candidates with the skills and abilities to succeed in their programs and contribute to their learning communities.

The test evaluates the higher-order reasoning skills essential to succeed in a challenging and dynamic business environment. The GMAT exam does not test specific knowledge of business or any other subject. Rather, it tests the ability to analyze data, draw logical conclusions, comprehend effectively and solve problems.

Format of the GMAT 

The present version of the GMAT exam consists of four sections: Analytical Writing Assessment (AWA), Integrated Reasoning (IR), Quantitative Reasoning (QR) and Verbal Reasoning (VR). The total exam duration is three hours and seven minutes, excluding two optional eight-minute breaks. The GMAT exam is computer adaptive, which means that the difficulty level of the questions is adjusted according to the test taker’s performance. The GMAT exam is scored on a scale of 200 to 800, with the average GMAT score being about 550. The GMAT score is valid for five years from the test date.

The new version of GMAT, the GMAT Focus Edition, is shorter, with only three 45-minute sections, and no longer includes an essay. It is slated to roll out in Q4 2023. The exact date has yet to be announced.

The new sections are:

  • Quantitative Reasoning: This section assesses your problem-solving ability using numbers and mathematical concepts.
  • Verbal Reasoning: This section assesses your ability to understand and reason with given information. 
  • Data Insights: This section assesses your ability to analyze and interpret data.

The new GMAT Focus Edition is also more flexible, with features that allow you to personalize your test-taking experience. For example, you can choose the order in which you take the sections, and you can review and edit your answers before submitting them.

Benefits of the GMAT Exam 

1. Increased chances of admission

The GMAT is a required test for admission to almost all top graduate business schools worldwide. A high GMAT score can give you a significant advantage over other applicants. The average GMAT score in the top 20 business schools is more than 700, which requires serious preparation.

2. Enhanced job prospects

A business graduate degree can lead to several high-paying and rewarding jobs. A high GMAT score can help you to stand out from other job applicants and increase your chances of getting hired.

3. Personal development

The GMAT is a challenging test requiring thinking critically and solving problems. The GMAT can help you develop your analytical and problem-solving skills, which can be valuable in your personal and professional life.

4 Financial aid

Many graduate business schools offer scholarships and financial aid to students with high GMAT scores. A high GMAT score can help you to reduce the cost of your graduate education, as you would have better chances of getting scholarships.

Tips on Preparing for the GMAT 

Start early

The GMAT is a challenging test, so it is important to start preparing early. This will give you enough time to learn the material and practice taking the test. Ideally, you should begin with 6-7 months in hand. However, achieving a 720+ score with even four months of consistent preparation is more than possible.

Create a study plan

A study plan will help you to stay on track and make the most of your study time. Your study plan should include a schedule for learning the material, practising taking the test, and reviewing your progress.

Take practice tests

Taking practice tests is an excellent way to familiarise yourself with the GMAT format and identify areas where you need to improve. If you aim for better results on the GMAT, check out GMATPoint Daily Targets. Daily Targets are free daily practice tests that provide 5 Quant and Verbal Reasoning questions in an exam-like interface. After you solve the questions, you will also be given video solutions for free to learn the correct way of solving the questions. These tests take only 30 minutes daily but can help you improve your score by a lot.

Get guidance

If you are struggling with the material or need help developing your test-taking skills, consider getting help. You can check out the free video classes and recorded lectures by GMAT experts on GMATPoint. You can find recorded lectures on solving GMAT-level questions quickly and efficiently and videos on strategies to help you reach your target GMAT score. With the right strategy and proper techniques, you can make your journey to your target business school a cakewalk.

Take your first free test now! 

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