Myth: I can apply to a top b-school only if I have a 700+ GMAT score.
Reality: Only 1% of all GMAT takers score 750 or higher, 7% score 700 or higher, 15% score 650 or higher and 30% score 600 and higher (Guide to the use of GMAT scores effective Oct 1, 2003 (including repeaters)).
A look at the sheer number of applicants tells us that the range of those applying to top B-schools is from 650 onwards. But remember that the rest of your application needs to be positioned in such a way as to complement your score.
Myth: B-schools have cut-offs for GMAT scores.
Reality: Not really. However, In case your score is much lower than their average score, you would need to really sparkle in your Essays & Work Ex.
Even though most schools claim Not to have a cut off, most of the top schools have an average GMAT score of 700+.
Myth: Since it is a standardized test, it can be beaten.
Reality: Apparently, the GMAT is a standardized test. True, but then there is a slight twist to it.
The GMAT tests basic concepts. However, most of the winners have found that as they keep solving questions correctly, they get similar questions to those they have seen before.
This is because while the GMAT does test basic concepts, HOW it does it can change.
Right from getting difficult probability questions, to getting four long RC passages, to getting questions with apparently do not have a right answer have been observed in the actual GMAT.
The best strategy is to focus on the basics first, and then you will be prepared to tackle any twist in the exam.
E.g. for the chapter speed and distance, it is enough to fully understand the following two formulae:
– Speed = Distance/Time
– Average Speed = Total distance/Total Time
As long as you can apply the above two formulae, any twist on the questions will be easy for you.
However, without a strong grip on the basics it is almost impossible to beat the GMAT using Short cuts or other tricks.
Myth: I can take the GMAT after sending In my application packet to the school after the deadline.
Reality: Doesn’t really work. Your application will not be considered without your scores, and your score will normally take at least 2 weeks to be reported.
There are however changes afoot wherein the Schools will be able to instantaneously view your GMAT score on the Web.
Myth: I can decide the schools I want to apply to after seeing my GMAT scores.
Reality: You can indeed do that but you will need to pay extra for that. You get to send your score to any five schools free of cost (The cost is included In your Test fees), before you take the exam.
Any schools that you need to send to after the exam will require extra payments to ETS.
A good strategy is to consider two schools for a high score scenario and two schools for a lower score so that you are covered in either case.
Myth: I can send the school a photocopy of my unofficial/official score report.
Reality: Schools normally don’t consider any report other than the official report from ETS.
However with Pearson Vue taking over the test administration, the schools will be instantaneously able to retrieve your score.
Myth: I can retake the GMAT as many times till I get my desired score.
Reality: You can, but the better option would be to prepare well and take it only once or twice.
Apart from the fact that it costs $250 each time you take it, your three most recent scores are reported by ETS to the schools. So if your scores are very different each time, you will need to explain why.
The reason usually is inadequate preparation first time, but this will show you In poor light before the admissions committee.