The great Weebee has returned from his slumber and rest to do a quick post about the GMAT. For those who don't know what that is, it is the Graduate Management Admission Test published by the Graduate Management Admission Council® (GMAC®). It goes from a scale of 200 (from just writing your name) to 800 (practically everything correct). Almost everyone who goes to a top tier MBA program has taken it, and everything thinking about business school will probably take it. Sure the GRE is starting as a substitute, but its still a new concept for business schools, so not all schools take it, though that's changing.
However, given that you want to maximize your chances- Weebee still recommends choosing the GMAT if you are set on going to business school - if you fail multiple times, you can just start doing the GRE and no one will need to know your GMAT score! Obviously if you are not sure about business school and are thinking about international diplomacy instead- go for the GRE.
The most important thing to figure out is realistically what is the highest score you can get. Figure out how much time you can spend, and what starting point you're at. While the great Weebee finds all the questions very easy and can do 800 no problem, I watched my owner struggle for 2 years on that test taking it numerous times before he managed to break 700. The amount of money he spent on books, online tutorials, private tutoring, library memberships, transportation and actually registering for the GMAT, could probably buy a nice car. Just imagine if he had spent all the money on me!?!
Alright so back to scores- what score should you aim for?
Obviously the higher the better- we'd all like 800, but this is not possible, Instead, look at the average or median GMAT of the business schools you want to go to- scoring above that is obviously best, but if you can't, somewhere close to it is fine. I'd say that 20 points below is fine, 40 points below the average is really pushing it, but still possible to get in. (need to be unique (i.e. female, minority, super job or super recs. etc). I've seen many friends do it. Anywhere below that and I would seriously consider retaking it.
What is the highest score I can get?
If you have never taken the test- go to MBA.com and download the free test on the website. (You'll need a PC to do this). Skip the writing sections (just put in a couple of lines and click go), and go on to the numerical and verbal parts. You'll need to block off a couple hours to do this, in a quiet area to represent test taking conditions. Then see what score you can get and look below.
If you scored in the 730+ range:
You're probably lying. No one scores that high on the first go, except for tutors of other standardized tests and perhaps super quants and nerds who like test taking (and are probably still in school). You probably wouldn't be reading this website and would have already went to the test center already.
If you scored in the 680-720 range:
Wow. That's all I can say. Assuming you've haven't reviewed a math concept or verbal reasoning in years, you're in fantastic shape. Study for about 3 months for a couple hours a day, get a good book (Official GMAT Guide and some others) and you should be good to go. I know a girl with a 680-690 who ended up with a 770, and a guy who got a 710 and studied for 3 months to get a 790. He claims he didn't get perfect because he got the first question on one of the sections. Boo for him. People in this range usually do well on standardized testing- you probably did well on your SATs too. Any score is really possible for you at that level.
If you scored in the 630-670 range:
Good stuff. You've done really well and with a couple months of studying (or less depending on whether you are at the top end of the range) you could break 700. A good estimate is what they call "half to 800". Others have some other name but essentially you take the difference from 800 and your score, and half that number and then minus it by 800 to get what is very possible for you. So let's say you scored a 660. 800-660 = 140, so divide that by half or 70. 800-70 = 730, so that's the score you can probably expect after months of studying for the GMAT.
If you scored in the 580-620 range:
Have no fear! Weebee is here! Not all hope is lost. My owner scored at the bottom end of that range, and after pain (yes MUCH PAIN) he managed to scrap to a 700. Not impossible, but will require a LOT of commitment. Again same "half to 800" principle. Someone with a 580 can probably get a 690 with a couple months of intense study. My owner did that through relentless commitment and focus. Perhaps I should have given him some of my powers, as it was painful to watch him go through it. A lot of it will be really learning the concepts, and you should probably take a course to help you with that. More on that in another post.
If you scored in the 530-570 range:
You can probably expect a score in the 660-680 range after relentless studying and focus. Things are going to be very tough if you want to break 700. Perhaps consider spending 6 months or more focusing on that test should you want to break 700. If all you need is a 650, then studying for a few months and you should be good to go.
If you scored in the 480-520 range:
You've got a tough battle to climb. It is possible to do well- note that one guy went from 480- to 640 to 720 at the website Wall Street Oasis I've also heard how someone went from a 480 to 720 directly- but bear in mind that there was a huge time difference between taking the 1st and 2nd test (something like 10 years or something). It's hard to predict a score when you are here because you can study very hard and pull it up to the 600 range, or you can devote a significant amount of time- (as in YEARS) and bring it up to the low 700 range. What is important to note is that you probably won't be hitting the 760+ range (or the 99th percentile) no matter how hard you try, so don't focus on that. Go for 700, but be happy with a 650 if you only can/want to spend a couple months.
If you scored below 480:
Man I feel your pain. It must be a very sad feeling. You're not alone though, as the average is in the 500s, so there is a significant population that scored what you did. Yes it may seem like every GMATclub forum of some sort talks about getting that 650 to a 700, but there are sites out there where people who score very poorly go. Check out MBA Journal to see others who have scored the same way, and then make a judgment call. Either you want to revamp your entire method of studying (going for 700+ so you quit job, move to a Siberian Mountain, spend a fortune for studying- I'm talking tens of thousands for tutoring, prep, etc) or just cut your losses by studying a bit more for the 500 range (getting a book, tutoring, etc), and apply to schools in that range.
You can get around the GMAT by 1) Apply to business schools where you don't need the GMAT (work experience can double for it) or 2) Don't go to business school at all. It isn't for everyone, and you don't necessarily need it to succeed. 3) Take the GREs instead. I'm not sure how valid that is because if you are indeed scoring below 480 you probably won't do much better on that test either- but maybe worth considering for a "fresh" start.
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I remember my owner had an interview question with a professor at the Judge Business School at Cambridge where she asked a tough question on whether he thought GMAT was important. He said no and was waitlisted. I truly believe the GMAT does NOT measure how successful you will be in life, but that's not what most business schools care about. Some people are not good at standardized tests, but are still brilliant. What he should of said was that GMAT is important, but up to a certain point it doesn't matter- does getting a 800 really mean you'll be more successful in life than someone with 700? Probably not. But someone with a 700 WILL probably be more successful than someone with a 600- simply because they will get into a MUCH better school, better network, and greater opportunities.
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Obviously the ranges of what you can get on your GMAT after doing the first test is based on an average scale. Someone who has been working for 10 years and hasn't opened a textbook since could easily score a 480, and then relearn the concepts, and get to a 720. Some people could just "choke" on the exam and bomb the test, and then relax and do better (assuming he or she has studied enough). I am simply giving simple guidelines of what is reasonable to expect (all the the great Weebee's opinion of course).
Read on for Part 2 for the most common mistakes, and what you can do to "conquer the GMAT"
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