The Graduate Management Admission Test, or GMAT, is a standardised method of the business school admission process. This multiple-choice, computer-adaptive exam is meant for students, who aim to pursue MBA or masters program in business schools, (B-schools) especially in subjects like finance, accounts, and commerce. GMAT scores are considered for admission purpose by two-thirds of the 1,900+ B-schools globally. For over 60 years now, GMAT has shown the path to many business leaders to begin their B-school journey. Numerically, around 2,100 colleges and their 5,000+ graduate courses take GMAT score as selection criteria. This exam is conducted in 650 testing centres in 114 countries.
Originally, GMAT exam was called The Admission Test for Graduate Business Study (ATGBS). It was renamed to Graduate Management Admission Test (GMAT) in 1976. The GMAT test is conducted mainly to analyse and evaluate the written material, critical thinking and problem-solving ability of candidates. It is also referred to as GMAT CAT, which stands for GMAT Computer Adaptive Test.
Statistics show that the GMAT exam is conducted over 20,000 times in a period of 12-months, but not more than once in a 16-day period.
Educational centres like colleges and institutions depend on GMAT score to judge a candidate’s academic capabilities like reading, writing, mathematical ability and critical reasoning.
This competitive exam is conducted in standard English, in both paper and computerised format. However, the computerised version is more popular and the paper one is continued only in a few remote locations of North America.
GMAT is conducted by the Graduate Management Admission Council (GMAC), global non-profit Council of Business Schools. GMAT is a registered trademark of GMAC. According to this company, GMAT is a trusted part of the admission process of more than 6,000 business management programmes.
Scope Of GMAT
The scope and importance of the GMAT Exam are not limited to only the MBA Admissions Process. It is relevant beyond getting an entry into an A-list B-school. GMAT knowledge can help a candidate in the later stages of job applications too. Overall, it has set a standard in predicting academic performance in graduate management programs.
GMAT is also one way to prove a candidate’s ability to perform quantitative skills.
Many firms use GMAT scores as a way of assessing applicants. According to corporate recruiters, the following factors are usually considered when hiring a business school student:
Ability to perform (92%),
Strong oral communication skills (89%),
Strong technical and/or quantitative skills (84%).
Upon taking this exam, the candidates get a chance to improve through self-assessment and exposure to the multicultural environment.
Self-assessment: While preparing for this exam candidates get a chance to judge their ability and aptitude to earn themselves a seat in one of the top B-schools. Through the help of GMAT sample questions, skills like problem-solving, time management, quantitative, verbal ability, writing, and reasoning skills get improved. Once they join an MBA program it becomes easier to pick up on managerial skills such as – presentation, communication techniques, handling financial queries etc.
Wide Exposure: GMAT brings in an opportunity to study abroad. It allows candidates to meet individuals from various backgrounds and ethnicities that will help in adapting to a completely distinct environment later in work life.
Unlike other competitive exams, GMAT provides the freedom to choose a date and time as per the test takers’ convenience. Students even have the option of retaking the exam up to five times in a year, with a gap of at least 16 days between each attempt. This gives students the flexibility to write the exam multiple times, in case the previously scored percentile is not satisfactory. Hence, the candidates need not wait an entire year to take the exam again.