Why Take the GMAT?
According to the Graduate Management Admission Council, nine out of 10 business management graduates considered their academic pursuit a sound investment. For the majority of international business schools, the GMAT is a requirement for admission. For students considering an advanced degree in business management, there are several reasons why the GMAT is a good first step in the application process.
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Function
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The Graduate Management Admission Test, or GMAT, is a standardized assessment test for students applying to business management or Master of Business Administration academic programs. Administered globally at test centers, the test is used by business schools as part of the comprehensive assessment for applicants looking to pursue a graduate degree in business and management. In 2009, the cost to take the GMAT exam was $250, with scores eligible for assessment up to five years after test date.
GMAT as Skills Assessment
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The GMAT is an admission requirement of more than 1,800 graduate degree programs across the world. The exam measures verbal, analytical and mathematical ability and is used to assess an applicant's ability to learn and demonstrate proper business communication ability, business analysis and performance measurement as well as qualitative and quantitative comprehension. The maximum or perfect score is 800; median scores can vary depending on institution but typically range between 600 and 700.
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GMAT Scores Aid Work History and GPA
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In addition to GMAT examination score, an applicant's collegiate grade point average, or GPA, and work history also factor into a school's acceptance decision. For an applicant with limited work experience, GMAT scores can demonstrate her business skill despite the absence of significant work experience. The GMAT can also demonstrate academic ability in place of a moderate or low GPA in an undergraduate program.
GMAT as Performance Indicator
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According to MBA.com, a resource for students interested in pursuing a business management degree, the GMAT is designed to include questions that demonstrate future academic work. Business schools consider good performance on the GMAT an indicator of potential academic performance.
International Assessment
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Graduate business management programs are largely international, accepting applicants from a wide berth of cultures, academic backgrounds and work experience. The GMAT is designed to ensure an applicant is reviewed objectively against the other two assessment variables of work experience and GPA. The exam is administered in the same format internationally under strict guidelines.
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