Most MBA applicants put considerable emphasis on their GMAT preparation in order to get into the best schools.
Though the GMAT score is an important aspect of the application, it is just one part of a person’s overall “story” in business school admissions; a great score will not guarantee access to a great school. However, success on the GMAT has additional benefits unrelated to admission. MBA hopefuls should be aware of these continuing “dividends,” and keep them in mind as additional motivators when preparing for the test.
First of all, an MBA student’s GMAT score is one of the first things that many employers consider when reviewing resumes.
Having just gone through this process, I can affirm that this much-contested statement is absolutely true. Professional service firms – investment banks, consulting companies, etc. – are especially focused on the analytical capabilities of potential hires. The GMAT is a great indicator of one’s quantitative and communicative abilities. Furthermore, many top MBA programs enforce a strict grade non-disclosure policy. Employers do not have access to the grades that applicants have received, making the GMAT score all the more relevant in their hiring process.
Secondly, great standardized test scores can lead to part-time job opportunities while students are enrolled in their MBA programs.
Business school is a full time job – an expensive full-time job. Tutoring is one of the most common and lucrative approaches for subsidizing business school. GMAT students in particular realize that they must invest in their studies to achieve a return on the test, and many are willing to hire tutors to that end. Test prep companies look for potential tutors with the most success on the relevant standardized tests to employ part-time.
Finally, success on the GMAT is a great predictor of success at business school.
Hefty preparation equips applicants for the rigors of core classes. MBA programs expect students to enter with a baseline set of quantitative and communicative skills. Students will have an advantage over their classmates if they study for the GMAT in a way that builds sustainable knowledge of the subject matter, and carry that knowledge into their MBA programs.