GMAT is definitely one of the toughest exams to crack but have you ever wondered why it gained so much importance as it presently has? It’s majorly because if you wish to enter the business world then cracking the GMAT exam is the right entry point for you. It is that one criteria on the basis of which your academic proficiency is judged by authorities granting admissions to MBA Programmes across the world, increasing the importance of the GMAT score. But to give you more idea about the importance of GMAT score let’s go a bit deeper into what the exam is all about.
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What Does GMAT Evaluate?
GMAT tests you on 4 wide grounds namely, Analytical Writing Assessment, Quantitative Reasoning, Verbal Reasoning and Integrated Reasoning. Within each of these sections comes a diverse number of topics meant to test your overall thinking ability and the knowledge you have acquired over the years. The basic structure of a GMAT exam is given below:
|Section||Duration||No. Of Questions||Types of Questions Covered|
|Analytical Writing Assessment||30 minutes||1||Argument Analysis|
|Quantitative Reasoning||62 minutes||31||Data Sufficiency, Problem Solving|
|Verbal Reasoning||65 minutes||36||Reading Comprehension, Critical Reasoning, Sentence Correction|
|Integrated Reasoning||30 minutes||12||Graphics Interpretation, Table Analysis, Multi-source Reasoning, Two-part Analysis|
|Total||3Hrs 7min||79 Questions|
Check out – GMAT Exam Syllabus
Advantages of GMAT
There are a lot of answers as to why you should take the GMAT. The top reasons being:
- The primary importance of the GMAT is that this exam is a prerequisite for admissions to practically all MBA programs.
- Scoring high on this standardized test promises benefits before and after graduating from a business.
- If you have scored well in your GMAT exam, you naturally become a strong candidate for Scholarship opportunities available in the field.
- A good GMAT score could push your career in the direction in terms of better career opportunities and compensation Post-MBA.
- The scores for the GMAT are relevant for five years. Because the score is applicable to more than one university or college, you have wider choices for applying both in India and abroad.
- GMAT offers the opportunity to study abroad where you encounter people from diverse cultures, which in turn allows you to develop as an individual and be respectful of diversity and unity.
Here are 5 Tips to Fit GMAT Studying into your Busy Schedule!
Importance of GMAT Scores in MBA Admissions
A high GMAT score is often synonymous with proficiency in the Business world and therefore, ensures a great career trajectory. And that is one of the reasons why your performance in GMAT is of high value to MBA admission experts. Your GMAT score decides not only your eligibility, it is on the grounds of those marks that you are considered for admission into the top Business schools. The GMAT exam is something that all those who wish to enter business school must take and that’s how important GMAT scores are for MBA admissions. It’s one of the most trusted and approved ways of testing a candidate’s potential and skills. Also, if you crack a tough exam like GMAT, it showcases your ability to cope up with the intense MBA curriculum. And this together signifies the importance of GMAT score for MBA Admissions.
Also Read: GMAT Preparation Tips
ROI of Good GMAT Scores
Most top Business Schools place their minimum GMAT score requirement above 700. And if you are trying for the best schools like Harvard or Stanford then it goes up to 730. Now, you might be wondering what’s the significance of these scores. It’s very simple, like in every exam, the more you score in GMAT, the more opportunities you will have access to. Your ROI (Return of Investment) will be directly proportional to the score that you have acquired in GMAT exam and this is exactly why so much importance is given to GMAT scores.
|Business School||Average GMAT score||Average Salary/ROI (Per Annum)|
|Harvard Business School||731||INR 1,00,76,171|
|Chicago Booth School of Business||730||INR 94,87,782|
|Wharton School of Business||730||INR 1,00,02,623|
|Stanford Graduate School of Business||737||INR 1,05,91,012|
|MIT Sloan School of Management||722||INR 94,14,233|
|Kellogg School of Management||732||INR 94,14,233|
|Haas School of Business||725||INR 92,67,136|
|Stephen Michigan Ross School of Business||716||INR 91,93,587|
|Columbia Business School||727||INR 94,14,233|
|Tuck School of Business||722||INR 94,14,233|
Is GMAT Only Important for MBA Admissions?
If you think that the importance of GMAT is limited to you getting admission into your dream Business School, then you are wrong. Because through your preparation for GMAT, you inculcate so many skills and knowledge which is definitely going to help you throughout your life. So, some basic importance of GMAT is the following:
- Preparation for a GMAT exam helps you in increasing your overall level of knowledge. And this knowledge is something that no one can take away from you and it will always be a positive addition to your understanding level.
- As I have already said, GMAT is one of the thought exams there is. So, clearing this examination and with a great score will definitely boost your confidence.
- Clearing a GMAT exam requires constant practice and dedication. While training for GMAT, the routines you have formed will go a long way towards ensuring your professional success.
Must Read: How to Crack GMAT In 3 Months?
Importance of GMAT Scores in Career and Recruitments
From what we have discussed, we already know the importance of GMAT scores on the academic front. But that was only the one aspect of it. The other is the impact that a good GMAT score can have on your professional growth. As the GMAT tests you on your reasoning, analytical and language skills, it is a good marker of your logical, technical proficiency and communication skills. And these are the qualities which makes you an asset for any business enterprise. Also, the difficulty level of the GMAT exams act in your favour when you are applying for a job position because the fact that you have scored well in your GMAT showcases that you are a dedicated and hardworking individual. Moreover, all of this together places you in a favourable position in front of your interviewer or selection committee.
We hope this blog helped in letting you know the importance of the GMAT score and if you ace it, you will pave for yourself a successful career. For more guidance and knowledge about the GMAT score and your admissions, get in touch with our Leverage Edu. Our experts are always there to help you out. Sign up for a free session today!