GMAT (Graduate Management Admission Test) is taken by the aspirants who seek admission in the Business Schools around the world.
GMAT is administered by GMAC (Graduate Management Admission Council)which handles are the aspects of GMAT. From the preparation of questions, conducting the test around the world and reporting the score to both the test-takers and the institutions.
The Graduate Management Admission Test examination consists of three main parts, the Analytical Writing Assessment, Quantitative section, and Verbal section.
Analytical Writing Assessment:
The GMAT exam begins with the Analytical Writing Assessment (AWA). The AWA consists of two separate writing tasks—Analysis of an Issue and Analysis of an Argument. Test takers are allowed 30 minutes to complete each essay.
Following an optional ten-minute break, the Quantitative section of the GMAT test begins. This section contains 37 multiple-choice questions of two question types—Data Sufficiency and Problem Solving. Test takers are allowed a maximum of 75 minutes to complete the entire section.
After a second optional ten-minute break, the Verbal Section of the GMAT test begins. This section contains 41 multiple-choice questions of three question types—Reading Comprehension, Critical Reasoning, and Sentence Correction. Test takers are allowed a maximum of 75 minutes to complete the entire section.
Analytical Writing Assessment
Analysis of an Issue-One topic-30 minutes
Analysis of an Argument-One topic-30 minutes
• General Management
• Human Resources
• Information Technology
• Operations Management
The starting salary of an MBA is really very high. (in the range of $1,00,000). We need not tell you about the prospects of an MBA.
Read the following article and take the final decision regarding you taking GMAT.
Graduate school is one of the biggest investments you will ever make in yourself. Before you commit to going for an MBA, one of the important questions you'll want to answer for yourself is, how much return will I get on my investment?
We recently asked graduating MBAs of the class of 2006 to compare the overall value of their MBA degree with the cost of earning it. The overwhelming majority were very positive about the value of the degree, rating it outstanding or excellent. One way to improve the chances that you will assess the value of your degree similarly is to do a good job of weighing the relative costs and benefits of the degree up front.
You should only begin to think about the costs and benefits of your degree after you have determined that an MBA degree will help you attain your goals. That is, before you calculate the costs and the return on your business school investment, do some self-assessment to determine what industries and job functions fit your skills, values, and interests, and make sure that the MBA will help you pursue your desired career.
Next, consider the costs of your degree as you would any large expenditure of time and financial resources. Given that about 70% of MBAs received financial aid to pay for their education, you should decide whether you are willing to make a similar financial commitment. (If you need an income but don't think you can work and go to school at the same time, keep this in mind: A recent U.S. Department of Education study showed a surprising result: 75% of MBA students overall and 61% of full-time MBA students work more than 35 hours a week.
We're not saying it's easy to work and go for your MBA at the same time, but most MBAs manage to do it. Don't think you have to give up on your MBA dream just because you need your paycheck.
The first step in figuring out what your MBA will cost is to determine what tuition and living expenses you will incur and the type and amount of financial aid you will realistically be able to obtain. Carefully consider how much of your financial aid offer is in the form of loans and prepare a budget for your living expenses to figure out whether the loans will cover all your expenses.
• loan interest and principal repayment
• relocation expenses and any associated change in living expenses
• "opportunity cost": factor in any income you will lose while in school.
Part-time programs allow you to keep a full-time work schedule but, in most cases, take longer to complete than full-time programs. In a full-time program, if you don't work while in school, you will lose income for the length of the program; however, full-time programs are typically shorter than part-time programs and will allow you to get back into the job market with your MBA and earn an MBA salary quicker than part-time programs will.
You will incur expenses as you search for an MBA program, during the application process, and as you begin searching for a post graduation job. You will likely want to narrow the list of schools to which you apply because of the costs, time, and effort involved. Costs add up quickly. Be realistic about what you will need to spend to apply to each school. Factor the following expenses into your budget:
• testing fees, test-preparation materials, and other miscellaneous costs
• application fees (ranging from US $40 to US $200), including fees for submittals using Web services or CD-ROM programs
• phone calls
• transcript request fees
• corporate networking visits
• postage or express delivery services
• travel expenses for recruiting events, interviews, or campus visits
Weighing the Benefits:
Finally, evaluate the benefits of the MBA degree in terms of higher salaries and more career opportunities now and over the course of your career. Also consider higher skill levels in management and business, better job preparedness, the opportunity to meet and form lifelong relationships with your MBA classmates, and the personal growth and satisfaction that come from earning an MBA degree. These are all benefits of the MBA that make graduates feel satisfied with their degree.
An MBA can open doors to a range of personal and employment opportunities. If you consider all the costs and benefits in light of your unique goals and circumstances and decide that an MBA is what you want, you can approach the next phase of your school decision confidently, knowing that you are about to make a wise investment in your future.
Every step from the step deciding to take GMAT to getting admission in your desired Business School is very important and
should be a calculated move. It is time-consuming move but highly productive one.
We suggest that you gather all the relevant information and start you process well in advance, at least one year in advance,
so that you may have ample time for everything.
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