GMAT preparation tips

Srividya,

You can book for the exam and also find test centre here:

The Graduate Management Admission Council®

It is an online exam. I think minimum score is 450-500 to get into a B-school.

All the best! :thumbsup

 

Most of the B-schools require atleast minimum 550 and top ranked schools 650

global MBA rankings 2010 Business school rankings and MBA rankings from the Financial Times

If need info regarding B-schools can go through this website forums
PaGaLGuY.com - India's biggest website for MBA in India, International MBA, CAT, XAT, SNAP, MAT

 

Neha...

I can't speak for all B schools, so I'll just say how it is at my school. Whether you do part time MBA or full time is up to you. However, to be admitted to the school as a MBA degree seeking student, you must take the GMAT. I think the minimum score at my school needed was a 500. Of course since admissions is competetive, you want higher than that to make your application stand out.

Naya, the whole reason I took the test was because I realized I wanted to do the MBA program at the school I was currently doing my undergrad in Accounting at. But they said I needed to do the GMAT right away since I had already missed the application deadline to apply for the program. Nope, not taking GMAT again. Once I passed it, my school admitted me to their MBA program, and currently I'm doing MBA classes there full time. I graduate in May 2011. This year I'm also sitting for the CPA exam, so I'm hoping to have that done by December of this year.

I feel for the GMAT... it's really important to have some basic knowledge of what's being tested, because it all builds on some core principals... like adding, subtracting fractions, multiplication, knowing about decimal places, and for the english part... knowing what doesn't fit or sound right. I feel the math you could brush up on pretty fast, but my verbal and comprehension skills came from years of reading and writing. Unless you have been an avid reader up until testing point, it's unlikely you'd be able to acquire huge comprehension skills in just one week.

I found the official website's practice tests to be very helpful. The lowest I scored on the practice test online was a 550 I believe, and I also scored a 570. So definitely I was surprised on testing day when the score popped up 650.

Good luck to your husband Naya! Make sure he eats well before taking the test and gets a good night's sleep.

 

Hi ASG,
Thank you for that information... I was really confused if GMAT was a pre requisite for MBA or not... is there any difference is terms of job oppurtunities for part time nad full time MBAs? I am looking at the part time since need some time for my family too here... however,I had this doubt if the courses are equally competitive....and What is your personal opinion on PT and FT courses?

I am also looking at accountancy/finance as my major:thumbsup..if I have further questions, I shall post back here... hope you do not mind answering my silly queries:hide:.. thanks again

Neha S

 

Thank you Dear Mithy!

 

Neha,

I really don't know a whole lot about other MBA programs at other schools. The main reason I'm doing the MBA, is because to sit for the CPA exam you need a 5th year of school (filled with accounting and biz courses). So I had the option of either just taking 10 more classes on top of my undergrad and sitting for the cpa, or taking 12 and getting an MBA AND CPA. So I thought, hey, it's only two more classes, why not. Also, I liked my school's emphasis on accounting and their Forensic Accounting concentration in the MBA program.

For example in my program, there are 6-7 core classes everyone must take. Then there are 6 more elective classes you pick, but they should be within a track of your choice (i.e. mine is Forensic Accounting). Now in my classes, some students are full time, some are part time. I'm full time, but not everyone in my classes are. Basically full time is 9 credit hours or more I believe, and part time is less than 9 credit hours per semester. 3 credits = 1 class.

At my school, it's the same classes and everything, just students take more or less of them at the same time according to their schedules. Lot of students in my class work. I think the limit though at my school is 5 years (i.e. you have to finish the MBA program in 5 years).

Name brand and all that matters more according to what your career goals are. I'm hoping to work for the IRS (have an internship there now), and to be frank, they don't seem to care whether you went to a state college or Harvard. However, the name brand of 'Harvard' might go further in public accounting firms or big name corporations. Also, the MBA is a lot about networking. So if you have executive level ambitions, you might consider going to a school that is churning out executive type graduates (for the networking opportunities).

If you post some names of schools you're interested, I can give you my opinion about what 'I've heard' about them. Also it would be helpful if you post your career ambitions and goals. You should also consider cost... like if you are planning on being a housewife two years after working and never going back to work again... you might want to reconsider a $120,000 MBA program. Also, competetive is relative term. For example, at my school, 29 people were admitted into the Spring term MBA program. The average gmat score was 560. And average undergrad gpa was 3.4. Now whether you find that competetive or not, is relative to how well you did as an undergrad in college and how well you can score on the GMAT. I didn't find it hard to get accepted into the program, but then again I had a good GMAT score, a good gpa, and also I was known on campus as a good student involved in lots of on campus activities. However, I heard from admissions that LOTS of people got rejected... so obviously some people out there probably thought it was very competetive. It's all relative and depends on your student profile!

Any more questions, feel free to ask.

 

Thank you ASG.
Frankly, I do not have the aspirations to go in for a big public corporation. All I want is a satisying career for myself. Personally, I prefer state colleges aS i have many where i live and also the tuition fee is less. I cannot spend like 50000$ for my studies....

I am in the New York area... and was looking at colleges in City university of NY or state unversity of NY ..... I have not even short listed the colleges yet... if you know any good colleges/courses in this area then please let me know

Also, i am confused if i should take up MAcc/M.S... I am going crazy at this point:hide: .... and need to start somewhere... another factor for me is I am not a finance/accountant related person. I have an Engineering(4 year) degree and was working until last year for IT biggies for 4 yrs...somehow that does not attract me now...and that's one reason why I am looking for options.. I am keen on accounting/ humar resource related courses.... from what I have heard HR does not have much options,career wise..so,i may have to stick to accounting.... another issue for me is i am not a permanent resident or citizen of unites states... this is a major factor as i need to find out if ,after my education, i will need visa sponsorship/any such thing..... and on these lines,many have suggested that HR will not be a good option

 

Neha... state schools are fine. I'm at a state school too, and luvin it! :thumbsup

About MBA vs Macc, I answered that question in another thread of yours. It's a difficult decision, so just take some time and weigh the pros and cons.

You mentioned the CPA exam.... if that is your goal, check out your states requirements, because each state requires a different number of accounting classes. I know you need 150 credit hours of education, and of that, a certain number must be accounting courses. The CPA exam is not an exam you can pass with just a 'basic' knowledge of accounting... you'd really need to learn accounting principals to pass it. Also, check out if you have the prerequisites for a Masters of accounting degree... sometimes before you can start the program they require that you've passed some classes, like intermediate financial accounting, or tax, etc.

 

Thanks again ASG...
I am aware that CPA will be hard for me,considering the fact that i have NO(literally) knowledge of accounting principles.. but, i am prepared to learn...

i think the fees will also be less for a state school,right? do you have an idea how much the Macc course might cost? i need to plan all this too as i have a family now(husband) and need to think of a few other things as well

i think ,most probably, i will nt be eligible for Masters in acctg... i may have to take additional courses.. i plan to do dat at community colleges... this wat i will get a hang of things too and cost also will be low....

after answering CPA, is there any condition for the license? like CFA has some stringent conditions...is it the same for CPA too?
my career path seems so long:hide:....before i land a job...may take 2-3 yrs and i am already 25:bonk

 

Neha, I'll answer your questions on your other thread so we can keep it all in one place.