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Is there a penalty for guessing on the GRE?

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I am not being able to divide the time between quant and verbal for GRE. I have the official guide of ETS . Help me with the time I should devote to each section in order to score more than 320.
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1. so what is the minimum time required to prepare for the Graduate Record Examination . 2. Also what in your opinion is the right way - directly after B tech or get into job and then go after 1 year or 2 years ?
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I have just completed B.Tech second year. I want to plan about learning GRE. Which time would be the best for me to start preparing myself for GRE?
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