What Is The GMAT?
The Graduate Management Admission Test, better known as the GMAT® Exam, is one of the primary tools potential MBA students can use as an entry-point into business schools across the world. The exam provides admissions officers valuable information from students on their aptitude and potential, and is a requirement among most of the world's preeminent business schools.
Why Do I Need To Take The GMAT?
According to the Graduate Management Admissions Council (GMAC), which administers the test, more than 7,000 business school programs at 2,300-plus world universities utilize the GMAT in some form to help with the admissions process. While several business schools do not explicitly require GMAT scores from its applicants, the majority either accept or specifically require completion of the exam for admission.
The exam isn't just for business schools students, either. Those who wish to earn a Masters in subjects such as accounting and finance usually have to take the GMAT in order to gain admission.
While the GMAT is not the only admissions test offered for potential MBAs, it is by far the most preferred among business schools and applicants.
What Does The GMAT Exam Consist Of?
The GMAT consists of four sections: an analytical writing assessment, an integrated reasoning portion, a quantitative section, and, finally, a verbal section. The sections vary in time and the amount of questions asked.
In 2017, GMAC modified the order in which test-takers must complete the exam. Previously, those taking the GMAT had to take it in the traditional order listed above. However, now those who take the GMAT have three options:
- Analytical Writing Assessment, Integrated Reasoning, Quantitative, Verbal
- Verbal, Quantitative, Integrated Reasoning, Analytical Writing Assessment
- Quantitative, Verbal, Integrated Reasoning, Analytical Writing Assessment
Where Do I Take The GMAT?
The GMAT is administered year-round at various test center facilities, which can be found here.
How Much Does The GMAT Cost?
The GMAT currently costs $250 USD. Partial refunds are offered for those who cancel their examination with more than seven days notice before the examination. No refunds are offered within seven days of originally scheduled test time. Likewise, their is a partial fee for re-scheduling the exam with more than seven days of notice. However, if one needs to reschedule within seven days of the original exam time, they will have to pay the full $250 USD.
Additional fees are required to acquiring extra score reports, score cancellations, and more. Applicants may retake the GMAT if they are not satisfied with their original score.
Several organizations, like the Fulbright Foundation and the The Edmund S. Muskie Graduate Fellowship Program, offer potential fee assistance for those who wish to take the GMAT.
Where Can I Register For The GMAT?
You can register any time to take the GMAT at the official GMAC website, which provides more in-depth information on the exam, schools the require scores, and much, much more.