Four Reasons Why the GMAT is for You

The GMAT is a computer-driven competitive exam attempted by students who wish to pursue their higher studies in top-ranked business schools in India or abroad. In this article, we will talk about four reasons why the GMAT is for you. 

Why is the GMAT useful?

Whether you want to study in India or abroad, there are several reasons why thousands of students around the world take the GMAT every year. Some of these reasons are listed below.

• The GMAT score is accepted by business schools all over the world. The score is required for securing admission to many good, reputed colleges of the world.

• The GMAT scores are valid for five years. Hence, the exam offers you a lot of flexibility and time to decide your MBA program and the business school you wish to pursue it in. You can appear for the GMAT exam when you are an undergraduate, or any time from the age of 13 (you will need parental permission to take the exam from the ages of 13 through 17).

• The flexible scheduling process of the GMAT makes it more advantageous than other exams such as the Common Admission Test (CAT), which are conducted only once a year. This means that you can prepare for the GMAT on your own time and achieve a good GMAT score.

What skills can you develop while studying for the GMAT?

Students studying and preparing for the GMAT learn a diverse set of skills. 

• Goal setting and planning ahead: You will probably make a long-term study plan before starting to prepare for the GMAT. Creating a plan and schedule that works for you and sticking to it will help your long-term organisational skills. You will have to make impromptu changes to your plan, and achieving your set goal despite these changes will be a difficult but very rewarding task.

• Discipline and persistence: Making a phenomenal study plan has no value if you do not follow it. You will learn discipline and build the persistence to keep going even when it gets tough. Facing setbacks is natural; it is what you do next that will define you, and the GMAT preparation process is a great place to cement this understanding. 

Reasons why the GMAT is for you

Here are four reasons why you should take the GMAT as you make your way to an MBA.

1. The GMAT score is accepted by top business schools from all around the world

Most  top colleges such as Harvard, Stanford, Wharton, and more, require your GMAT score as a part of your application. The GMAT is also valid if you want to secure admission to one of the Indian Institutes of Management, the Indian School of Business, and other good business schools in India. The GMAT is one of the six standardized tests that the All India Council for Technical Education (AICTE) recognizes for the admission process for Post Graduate Diploma in Management (PGDM) programs.

2. The GMAT also offers many opportunities to avail yourself of scholarships

An exceptional GMAT score can help you get selected for financial aid for your MBA program. Several GMAT scholarships are available for students who have good scores. Financing an MBA can be tough, and therefore, students apply for loans or look for scholarships in order to be able to pursue it. Some colleges that accept the GMAT score in India are the S. P. Jain Institute of Management and Research, Narsee Monjee Institute of Management Studies, Xavier School of Management, and Indian School of Business.

Some of the organisations that offer scholarships for MBA candidates who take the GMAT are listed below:

• Canadian Bureau for International Education
• Harvey Fellows Program
• Institute of International Education
• Tibet Fund
• Consortium for Graduate Study in Management
• East-West Center
• Hariri Foundation

3. Preparation for the GMAT is a clearly defined process that you can schedule as per your convenience

The GMAT syllabus is well defined. It has a proper structure of multiple-choice questions and a defined format for the question paper. Moreover, several internet resources offer pre-made study schedules for every variation of study duration.

The exam can be scheduled at any time of the year, which is the foremost reason why the GMAT is a good choice for students who wish to pursue business programs. You can attempt the exam multiple times in one year, and you can choose the date and centre at which you want to take the exam. The GMAC manages numerous test centres all around the world. You can even reschedule the exam before the test date. 

4. The scope of your GMAT score is not limited to MBA admissions

Many multinational companies ask for candidates’ GMAT scores in their recruiting process. The GMAT is globally and universally recognized as a test of general aptitude, and it is also a convenient way to compare job applicants on a standardized scale. Thus, a good GMAT score can even aid you in being hired for a job at your dream company. This is especially useful, as the GMAT’s 5-year validity ensures that you would not have to retake the GMAT when applying for jobs after completing your MBA.

Conclusion

A good GMAT score can give your career a new start. By putting in some effort and working hard consistently, you will definitely get a good GMAT score. The exam is a perfect doorway to many excellent opportunities. Therefore, you must study for the exam with focus and seriousness. Due to the pandemic, a student can attempt the exam either online or at the test center. The validity of the score and the structure of the exam is identical for in-person and online exams.

The GMAT is a versatile examination that can aid you in adding to your knowledge and skill sets, and can even improve your chances in a job application. Not only is a good GMAT score a way to prove your aptitude to the admissions committee of a B-school, it is also something that can help you obtain financial aid to pursue the MBA program of your choice.