Use ForumsForums are great place to meet other MBA aspirants, future classmates, possible networks, great friends... Its also a place to seek help when you are stuck somewhere or just a place to chill out.
Review, Identify and ReviseMost people never seem to figure out where their weak areas are and then they wonder why they bombed the GMAT. Do you know your weak areas? SC? CR? RC? Geometry? Everytime you take a mock, there's a wealth of information waiting to be mined. Why did you get a Q wrong? Conceptual error? Careless error? Don't know the formula? Didn't understand the Q? Got the reasoning wrong? Go ahead, figure it out yourself Or ask somebody! There's no harm in seeking help and you are certainly going to need a lot of it once you get down to writing your essays.
FAQSHow much should I study everyday? What if i'm working??There are thousands of people out there who are working and still get 700+ scores on the GMAT. There's no excuse for you. Most people spend an hour or so everyday and 5-6hours on the weekends. Towards the end, weekends are spent taking tests and analyzing mistakes. The best study plan is for you to figure out. You have to do the work you should know what works for you and what doesn't. Sleep an hour less if you have to. Its only for a year. You also have to write essays and that's going to be a lot of work. You might as well get used to the grind.
Self-Study v/s Coaching CenterEntirely up to you. You know yourself best. Coaching centers will provide a certain level of discipline, an instant set of people to worry about with and somebody to hold your hand and walk you through. Self-study will save you upwards of 17k, make you strongly self-reliant and give a real good feel-good factor at the end of your exam.
When should I take the GMAT?Take it whenever you are ready. You can take it straight out of college if you like. Yes, the GMAT scores are valid for 5years, but note that colleges dont like for scores to be older than 3yrs at most. They may or may not ask you to re-take. Also note, as mentioned earlier, that colleges require you have to have a GMAT score by the deadline of the round you apply in.
Aim to take the GMAT atleast 6months before you intend to start your application. That way, you have time to re-take if you need to. Also, do not under-estimate essay-writing and recommendation collection. Those are killer processes that can take a very long time.
Things to carry on Test DayYour passport and another proof of identity (Govt Issued)
Some food if you like.
A jacket or sweater. Some centres run their ACs on full-blast so you might want to be careful.
You WILL NOT BE ALLOWED to carry anything into the testing-room. At some centers, even your watch is placed in the locker allocated to you.
Passport is the only proof of identity that is accepted by the GMAC for Indian test-takers. Please have this ready before you start the process.
What are deadlines??Most colleges have 3 rounds of admission. In order to process the huge number of applications, colleges have 3dates by which you can submit your application. This is called a "Round". Your application is compared to applicants only within this round, unless you are "Waitlisted"
As an Indian applicant you are advised to finish your application before the end of Round2 (R2). Let's say you have Rs100( number of seats) and you get to walk down a long list of shops(applicants) and buy whatever you want. In the beginning since you have a lot of money you tend to splurge but when you are down to the last 20bucks or so you become more cautious. Its the same way with admissions. In the beginning, they have more seats, lesser number of applicants to compare against and your chances are brighter. In R3, they are looking to round off the class so the competition is really tough.
Do I have to pick the colleges at the time of the exam? Can I pick them later??Know which colleges you want to go to before taking the GMAT. At the time of the exam, you can pick 5 colleges to send scores to. Any subsequent score request costs $28. Its your decision to experiment with "Safety,Reach and Stretch" list (Safety is where your numbers/profile is above the college's numbers thus ensuring you have a very good chance of getting in, Reach is where your numbers more or less match the college and you would have a good chance of getting in. I suppose you can guess what Stretch is by now. Please note that this only in theory. You never know how you are going to mess up your app and get dinged from a Safety too)
What is the relevance of the AWA scores? Nothing. Well almost nothing. If you've scored about a 4.0 on the AWA, schools are not going to bother with the AWA. If your essays are bad, then the school will probably take a look at your AWA score and begin to ask questions. For the most part, schools will not worry about your AWA score. Some schools ask for a TOEFL so your low AWA should not bother them. Or you can volunteer to offset the AWA by taking the TOEFL. Just check with the school first though if this is acceptable to them. The TOEFL is cheaper and easier to take, two very compelling reasons for you to seriously consider it.
How do colleges view Multiple GMAT scores?Most applicants are worried about this. If, for whatever reason, you didnt get the score you wanted the first time, you can always re-take. Its how you re-take that schools are interested in.
-If you take it immediately after the first time, and didnt improve(or did worse), its going to reflect badly.
-If you re-take a third time and still didnt improve or did badly, the college will question your maturity and your ability to analyse yourself
-If you take it immediately after and improved, the college is going to think you had a bad testing day and will not bother anymore.
If you havent improved after your re-take, step away from the GMAT, take some time off to study properly and have a go at it again. This will show that you took the time off to properly identify your weak areas and work at it again. Repeated re-takes and no improvement/marginal improvement will not help you much.
Colleges will only consider your highest score since that is what they will include while calculating the batch average.
If you are IIM, a 720/730 is no reason to re-take unless the college tells you to. The college actually telling you to re-take is very unlikely. If you think you have presented a really strong app, then dont bother at all. Your score is fine.
Also Read -
How Many times can I Take the GMAT?When will I receive my score?At the end of the exam, you will be asked to fill out a questionnaire that they collect for statistical data. At the end of this, you'll be asked if you want to submit your score or not. Submitting your score sends it to the college and allows you to see. You will also get a print-out of your score(minus the AWA score) at the center. An official score-card will reach your address in 2-3weeks. Schools will receive your score at around the same time.
Cancelling the score does NOT send it to the college neither can you see the score.
Other non-GMAT but related BooksHow to get into the Top MBA programs -Richard Montauk.
A highly rated book that is not easily available in India. Try and get your hands on this one. If you start out early enough, this book is a great guide.
Difference in rate of acceptance/rejections during any application deadline roundAs mentioned above, get your application in by the end of R2. Try to avoid R3. Acceptance/Rejection rate Numbers are just a useless piece of statistic, that are interesting only when everything is over and done with. Are you really NOT going to apply if there are too many applicants or if the interview rate is low? Then why bother applying in the first place?? Or you'll console yourself with that piece of number? Doesn't work. Trust me.
Is the volume of applications processed for any round same?Depends on the number of applicants in that round. The college has no cut-off list.
What are these 1000 RC/CR questions I hear about very often? Where can i get hold of one?The 1000__ series of Qs supposedly came out of a site called Scoretop.com. Once a very popular site, Scoretop got shutdown for copyright infringement. You can read more if you go to scoretop.com
There have been problems with the 1000series in that some of the answers are wrong or not properly explained. Some have also questioned the value of these materials. If you Google around, you are sure to find it, but whether to actually use it is up to you.
Which full-length CATS to practice?Powerprep (2test-Free)
GMATPrep (2Test-Free)
MGMAT (6Test-Obtained free when you buy any book or buy direct for $30. 1Test free on their site)
PrincetonReview Diagnostic (Free on their site)
The GMAC recently released something called the GMATFocus which is a set of paper-tests. Again up to you if you want to use this material.
There is also a ton of other CATs out there depending on whether you have the moolah to spend
Kaplan (1 Free on their site. Scoring is a little off)
Knewton (1Free on their site. Some have said it is a little too easy, which is surprising considering they claim the same people who created the GMAT are the ones who created Knewton's tests)
800Score.com (Not enough info)
GMATClub.com (Paper-based, 25Q and 6V, Quant is reputed to be tough)
There's also been a couple of new web-based players in the test-prep arena-Grockit.com has a free plan and is interesting.
Magoosh.com also has a free plan though I haven't signed-up/used it yet.
Which schools need TOEFL?/ I got a low AWA but a 700+score. I am retaking!The TOEFL requirement is unique to each school. Some schools want it some don't. It is up to you to check with the individual school website to see which schools require it and which don't. As mentioned earlier, if you have an AWA of 4, you are fine. If its lower, consider offering to take the TOEFL. It's is more English focused than the GMAT and at $150, cheaper too!
What does my B-School Application Consist of?/What else do i have to submit at the time of sending my score??Sending your score to the school of your choice is only 1 part of the entire application. Broadly speaking, there are 3parts to your application
1. GMAT (and TOEFL if required)
2. Writing Essays, getting Recommendations and submitting to each school alongwith your GMAT score
3. If called for, Interview and hopefully get admitted.
Understand that submitting your GMAT score is not enough. You still have to send the school an application. Each application consists of the answers to the essays asked by the schools, as well as recommendations from your superiors and an application fee(usually in excess of $150)
You also have to send attested and sealed transcripts so make sure you have enough time to gather all documents. Colleges do not consider an application "complete" until you have submitted all documents. Some colleges will accept scanned copies to make a faster decision but you will still be required to submit original copies.
Score SubmissionAs discussed above, you need to send your score to the college you are applying to. You can do this either at the time of the exam (5 colleges and the submission is Free) or you can do it by going to the mba.com site, and choosing to send from there. There is a fee associated with this.
If you are a re-applicant, the college usually already has a score. However,
it is always best to check with each college on their policies regarding score. My Profile:Let me be very clear on this
10th and 12th marks DO NOT MATTERDo NOT join a social service for the sake of it. Join because you want to make a difference, not because it'll score you brownie points. Anything less than a year-old, more so in the IIM applicant, and it's a dead giveaway that you joined to score points.
Work-ex: Aim to be a little higher than the average of the school you want to go to
Finance: Given the current economic doldrums, do not count on US schools giving you a loan. A lot of schools had their loan-options removed and while the situation is improving, be very careful. This is a 40-50Lakh loan we are talking about, so you might want to think very carefully on this.