Deconstructing the GMAT

Introduction

The GMAT is perhaps one of the most anxiety-inducing components of the b-school applications. Required by most schools, it plays a crucial role in the admissions process and can even influence scholarships and student-loan interest rates! And with the median GMAT scores at all top schools on a strong upward trend, it’s natural for applicants to fret over this test. Having attained the elusive 99th percentile and helped several others do the same, I’m writing this short article to help you get started!

What is the GMAT?

The GMAT, or the Graduate Management Admissions Test, is a standardized, multiple-choice, computerized test that almost all top international b-schools require their applicants to take. While several schools have also started accepting GRE (Graduate Record Examinations) scores in recent years, the GMAT remains, by a large margin, the most widely used exam for b-school admissions. With nearly 200k annual test-takers, 9 out of every 10 new enrollments at the FT-100 Global MBA programs are made using GMAT scores.

However, exact requirements differ by school, program and even applicant, and should be thoroughly checked before making a decision.

Exam Structure

The GMAT consists of 4 distinct components, which test different aspects and must be completed within their separately specified times.

However, candidates are free to attempt the components in an order of their choice from these options (to be chosen before beginning the test):

1. (Quant), (Verbal), (IR, AWA)

2. (Verbal), (Quant), (IR, AWA)

3. (AWA, IR), (Quant), (Verbal)

The maximum test duration is 3 hours and 23 minutes, if the test-taker opts for both the optional 8-minute breaks between sections, represented in () above.

2 sections (verbal and quant) are computer adaptive. This simply means that the test selects the questions to be posed, in real-time - you start with a question of medium difficulty, and depending on your response, the hardness of the next question is decided. As a result, a question, once answered, cannot be revisited. However, the difficulty of the questions you attempted is incorporated into your GMAT score, which is out of 800 and represents your performance in verbal and quant.

What is a good GMAT score?

This question is close to impossible to answer -

1. At Harvard Business School, the class of 2022 has GMAT scores ranging from 620 to 790. Several applicants with 760+ (99th percentile) were rejected, and some candidates below the 73rd percentile were accepted!

2. At London Business School, the average GMAT for the MiM Class of 2021 is 680, a whole 20 points below the MBA Class at the same school

Most schools publish GMAT statistics like these for their current classes, which reflects the emphasis. However, these numbers should be taken as indications and not requirements - a minimum score requirement is rare. While higher is always better, it is important to keep in mind that the admissions process is very holistic, and the GMAT score is rarely a make-or-break deal. That said, it is an excellent avenue to convince the school of your preparedness if you have not pursued quant-heavy courses previously or do not have an outstanding academic record. Moreover, for applicants from some backgrounds, a high GMAT, is almost necessary given the intense competition in that demographic.

How does the process work?

To register for the GMAT, you must first set up an account on mba.com. This is the official site for GMAC (the organizing body) and you can use it to schedule your tests, access preparation material and even send in your scores to the schools. Simply creating the account will get you access to the GMAT Official Starter Kit and 2 full-length practice exams in the actual format.

Finalizing your test slot can be tricky though - at major centres, slots fill up weeks in advance, but you mustn’t register till you’re confident of achieving your target score by said date. Registering for the test and all subsequent retakes cost USD 250 each.

At the beginning of the test, you can select up to 5 schools to which you wish to report your scores. After completing the test, you can see your score on the screen, and decide whether you wish to report or cancel it. If you choose to cancel, that score is scrubbed and no report is sent to the schools. If you accept the score, then your score report is sent to the schools you selected. You have to make this decision on the basis of your unofficial score report, which includes your overall and IR scores, but now the AWA. A score that is not cancelled is valid for 5 years.

Even after the test, you can choose to cancel the score, reinstate cancelled scores, or send your score reports to additional schools. Each of these procedures bears additional costs, so it’s best to go in with a clear target and schools in mind.

GMAT Online: Key Differences

In the wake of the pandemic, GMAC introduced GMAT Online, allowing candidates to take the test from the comfort of their homes. With round the clock availability and remote proctoring, this mode provides safety, convenience and flexibility. The test costs the same as the traditional GMAT, and follows the exact same format and validity. The online version allows you to send in as many schools as you wish, without charging additional fees. However, one can only take the online exam twice and these attempts count towards the maximum allowance of 5 tests in a rolling 12-month span.

How much time do I need to prepare?

Depending on your schedule and baseline comfort with verbal and quant, preparation times can vary between 3 weeks to 4 months. It is crucial to cover standard question banks and take full-length mock tests before the actual examination. The latter is crucial to identify areas of weaknesses - types of questions where either the accuracy is low or the time spent too high. In fact, achieving high accuracy in quant and good speed in verbal is a good indicator of preparedness. Of course, it is ideal to be consistently hitting above your target score in mock tests in the run-up to the exam.

LitAdmit coaches can help you prepare a comprehensive strategy to achieve your target score. By tailoring the schedule and resources for you, we make sure you’re totally set for D-Day! Schedule a call with us now!