GMAT 2021 is a computer-based online exam that measures candidates based on verbal, quantitative, and analytical questioning methods. Every year, GMAT is conducted by the Graduate Management Admission Council (GMAC) to choose candidates who may bring changes in the business world through their analytical skills. Candidates who will be appearing in GMAT, they are asked to attempt 80 questions in a fixed time of 3hrs 30 minutes. GMAT exam fee costs are near about 18,366 rupees, i.e. 250 Dollar.
In today’s article, we are narrating about the GMAT preparation tips and other important information like exam pattern, registration process, eligibility criteria, fee payment process, and so on, that will help you for GMAT preparation.
What is the purpose of GMAT pursuing from Abroad?
Pursuing MBA from top business colleges is highly profitable for return on investment. ROI is calculated over the percentage of annual salary to the total expense for the MBA. The ROI rate is high in abroad business colleges. Stanford has the highest ROI, i.e. 289% and London has the lowest ROI, i.e. 94%. 12% interest should be charged for seven years if entire tuition fees are considered a loan, then the amount may be USD 1380.
Why Apply for GMAT?
The GMAT exam is known as the best predictor exam for management education all over the world. According to the given graph, it is seen that the number of GMAT examinees decreased by near about 10,000 globally.
But, the number of candidates increased by nearly 3000 in India. In the last three years, the number of male candidates, as well as female candidates, has decreased globally. But In India, the number of female candidates increased, whereas the number of male candidates has reduced. And in 2018, there is the highest number of female candidates from India appearing in GMAT.
Purpose of appearing in GMAT
Usually, candidates, from all over the world, appear GMAT to take admissions in the top business colleges. Besides MBA, GMAT score is also mandatory for Doctoral degrees and a Masters in Business.
As an MBA is one of the well-known career-oriented course, pursuing an MBA is a significant purpose for all the candidates who will be appearing GMAT. According to the research, 62% male and 69.2% female GMAT applicants choose to join business course whereas the rest of the candidates looked for business masters or doctorate courses in 2018. Since 2015, women prefer pursuing a business career.
GMAT 2020 Latest Updates
Both the Executive Assessment Online and GMAT online exams appointment dates have also been extended up to July 17, 2020. Due to this COVID-19 outbreak, the GMAT exam has been suspended in many locations for safety purpose.
From the 2014 surveyed data by KAPLAN, 44% increment has done in an organization for preferring professionals with GMAT score. GMAC told that the interim GMAT exam would be available online from mid of April.
GMAT Preparation 2021: Exam Pattern
Candidates should know about the GMAT Exam Pattern for GMAT preparation. Four sections of GMAT Preparation 2021 are as follows:
- Analytical Writing Assessment: GMAT AWA section examined an applicant on how well he can communicate and think critically.
- Integrated Reasoning: GMAT IR section tests how well an applicant analyses a plethora of data for evaluating information and represents it in multiple formats.
- Quantitative Reasoning: GMAT Quant section measures how well an applicant concludes problems by using his analytical skills and reasoning.
- Verbal Reasoning: GMAT Verbal tests an applicant on how well he can read and understands the written material and evaluate it.
GMAT Preparation 2021: Registration
A candidate can do GMAT Registration at any time of the year. Candidates should register for GMAT as per preparation basis. It is advised to the candidates that he should plan appropriately before registering for GMAT, not to decide at the last moment.
Candidates should follow the instructions to register GMAT. GMAT registration is completed in three different ways as support.
- Offline (fees via post).
- Postal Mail.
GMAT Preparation 2021: Eligibility
Before GMAT registration, a candidate should know about the eligibility criteria for appearing GMAT. The eligibility criteria required for GMAT are as follows.
- A candidate should have a fundamental educational qualification from a registered college or university.
- Candidates should be 18 years old to sit in the exam. Candidate, below 18 years, can sit in this exam only when his guardian permits it with a no-objection letter.
- A student can appear only five times a year and eight times a lifetime for GMAT.
- Candidates can appear for GMAT on a gap of 16 days after the first held exam.
- No specific working experience is required, but the top business colleges only prefer it over the world.
GMAT Preparation 2021: Exam Fee Payment
As GMAT is globally conducted exam, so the fee of GMAT is set 250 Dollar, i.e. 18,366 INR. For rescheduling exams, one needs to pay 50 Dollar on a different date. If a candidate cancels the exam, he is also charged an amount of 80 Dollar. A candidate can pay the GMAT exam fee via both online and offline mode.
GMAT Preparation 2021: Best Books for GMAT Preparation
These three books must buy before you start the preparation for GMAT.
- The Official Guide for GMAT Review Book (Latest Edition)
- Kaplan GMAT Premier (Latest Edition)
- GMAT Sentence Correction Strategy Guide Book (By Manhattan GMAT)
But, you have to keep in mind that the best books for GMAT preparation mean nothing if you don’t follow a disciplined attempt to develop a plan for GMAT study and stick to it until you get success.
Besides these three books, there are also some best books for GMAT preparation which are based on a particular topic like quantitative, verbal, etc.
- Best books for GMAT preparation: top GMAT quantitative books
- The Official Guide for GMAT Quantitative Review – This book has several GMAT sample questions that may go beyond the primary GMAT Official Guide book.
- Kaplan GMAT Math Workbook – Some candidates have found this guide book as a good one to get the basics.
- Best books for GMAT preparation: top GMAT verbal books
- The Official Guide for GMAT Verbal Review – This verbal guide has done excellent work initiated by the GMAT Official Guide.
- Manhattan GMAT Sentence Correction Strategy Guide – GMAT Sentence correction is a weak zone for most applicants. The Manhattan SC guide helps to improve in sentence correction. That’s why it has been a favourite guide among both Indian and International MBA applicants.
- Kaplan GMAT Verbal Workbook – Like Kaplan’s quantitative guide, this book also tries to go beyond the basics questions. This book is a good option for folks who want to understand various verbal sections and learn the strategies to tackle that.
GMAT Preparation: Scorecard
According to the survey of GMAC, it is found that most engineers in India prefer pursuing GMAT as compared to global students. Having strong data sufficiency and problem-solving methods, engineers prefer GMAT preparation and exams. Globally, the percentage of candidates appearing for GMAT is shown in the below chart.
Analysing the chart, it is seen that the number of business and commerce background students prefer GMAT preparation all over the world. After that, engineering background candidates hold the second position in the leaderboard of pursuing GMAT.
Educational background of Indian students applying for GMAT is different, compared to global students.
In India, Engineers hold the top position in GMAT preparation. Having mathematical skills, the engineers perform the best. After that, students, belonging from business and commerce backgrounds, score well in GMAT.
GMAC runs a survey on wide backgrounds of candidates for GMAT of the last five years and represents the outcome through the below graph.
Analysing the graph, we can say that the total number of GMAT applicants increased by 6.5% whereas the number of women GMAT applicants increased by 10.5% in five years. Along with the applicant’s number, the score also increases in the last five years is an interesting fact.
- The number of score achievers of less than 600 is increased by 5%.
- The number of score achievers in between 600 to 690 is increased by 7.8%.
- The number of score achievers more than 700 is increased by 8.1%.
GMAT Mean Score
Before applying for GMAT, candidates should know about the mean score of GMAT from the year 2014 to 2018. From the above data chart, it is clear that the applicant must score above 700 to take admissions in the best business colleges of the USA or UK.
How is the GMAT Score calculated?
GMAT candidates will be scored on a constant pre-defined scale that includes only GMAT Quantitative and GMAT Verbal score. AWA and GMAT IR are included to measure the analytical aptitude of the applicant. The GMAT Scorecard includes the following.
- Analytical Writing Assessment (0 – 6)
- Integrated Reasoning (1 – 8)
- GMAT Quantitative Score (6 – 51)
- GMAT Verbal Reasoning (6 – 51)
GMAT Preparation: Result
The candidate will receive the GMAT Score card immediately after completing the exam, and he can download that non-official scorecard. But, the GMAT AWA score will not be shared. Applicants will get an option either for accepting or rejecting the GMAT Scorecard. If the applicant accepts it, then GMAC will send the scorecard directly to the institution. Whether the applicant rejects the scorecard, then GMAT score will be invisible. After the acceptance, candidates will receive a GMAT scorecard along with an AWA score within 20 days of GMAT exam.
GMAT Preparation: Score Validity
- The score of GMAT is valid for up to 5 years.
- Candidates can use GMAT score for getting admission in MBA.
- Many recruitment companies also want GMAT scores for providing jobs.
- A candidate can retake the GMAT Exam if he is unsatisfied with his GMAT score.
GMAT Preparation 2021: Preparation Tips
Students who aim to take GMAT must follow strict plans for preparations. GMAT preparation tips consist of how an applicant strategically plans for GMAT preparation. For better GMAT preparation, candidates can solve practice papers as well as previous year’s questions. GMAT preparation tips are stated as follows.
- Learning of new shortcuts or tricks for calculations in the quant section is not enough; the candidate needs to implement that in his exam for better performance.
- An applicant should make a diary for putting down essential questions and solutions.
- It is advised to write down all strengths and weaknesses in the diary that are required during preparation.
- Candidates should make an exponential timetable for rapid practice in solving problems when the GMAT exams are nearby.
- Always attempt those questions which you are sure of. It can push your score towards your aim for a possible minimum score that can be achieved easily.
- If the applicant doesn’t know the answer, guessing is the only option left then.
- Never gratify to make your weaknesses into your strengths. Because a few candidates are only good in all aspects.
- Candidates should focus on their time management skill. Without it, the student may face a lot of difficulties to manage time and attempt each of the questions.
- Make a routine to take at least one mock test every week to improve your management skill according to time.
So, this is all for now. We have tried to make sure that you know about the GMAT and GMAT Preparation tips. Finally, if you like our content, please share this post within your circle and help them to gain knowledge about GMAT and GMAT Preparation. If you want to know anything, then feel free to comment below.