Part 1 : All about the GMAT

Things you wanted to know about GMAT

but didn’t know who to ask!

From MBA.com:

“The GMAT exam is a standardized assessment, delivered in English, that helps business schools assess the qualifications of applicants for advanced study in business and management.”

What is GMAT?

The “real” reason why GMAT is needed:

1. It is an objective way to compare academic potential of students from around the world.

2. It has become an important parameter for Bschool rankings.

• Analysis of an argument– 30min

• Integrated Reasoning – 30min

AWA & IR

• 37 questions• 75 mins

Quant • 41 questions• 75 mins

Verbal

The GMAT Test Structure

• Works on a system of “buckets” – if you score between 40%-60% you will stay in a bucket.

• 3 main ways in which you can score well (or poorly):– Number of mistakes– Position of mistakes– Frequency of mistakes

How the GMAT Algorithm works

Verbal# mistakes score

0-1 512-4 45-505-7 40-448-13 35-39

Quant# mistakes score

0-2 513-5 506-10 4911-14 48

GMAT Scoring

The above is assuming that you are making mistakes at equal intervals i.e. question number 4, 8, 12, 16 ….

48-50 40049-51 42051-53 43052-54 44054-56 45055-57 46056-58 47059-60 48061-62 49062-63 50062-63 51062-64 52063-64 53065-66 540

66-67 55067-69 56068-71 57069-72 580 70-72 590 71-73 600 72-75 610 73-76 62074-77 630 75-78 640 76-79 650 78-81 660

79-81 670 81-83 680 81-83 690 82-86 700 84-86 710 85-87 720 87-90 730 89-90 74090-91 750 92-93 760 94-96 770 96-98 780 97-100 790 100-101 800

Raw Score to Scaled Score Conversion

1. Running after “material” - wrong sources and poor analysis

2. Trying to “hack” it by memorizing things

3. Not taking enough tests

4. Using the wrong techniques

5. Preparing for too long

Top 5 Mistakes in Prep

1. Official Guide ed. 13

2. Official Guide Verbal Workbook ed.2

3. Official Guide Quant Workbook ed.2

4. GMATPrep Pack (optional)

5. GMATPrep Practice Question Bank

Sources to practice from

Weeks 1 to 4

1. Attend CrackVerbal Verbal Classes

2. Complete OG & Verbal Review

3. Start off with Quant pre-read

4. Take 1 diagnostic test & another test at end of the 6 weeks

Weeks 5 to 8

1. Keep practicing Verbal – wrap up official sources

2. Quant focus on advanced/hard topics. Or attend Quant classes.

3. Take around 4 to 6 tests

Weeks 9 to 12

1. Practice using Advanced Document

2. Focus on areas which are your weak points

3. Take about 1 to 2 tests to keep the momentum

3 month Study Plan

Jul-Aug Aug-Sep Sep-Oct

3-Step Process

Practice

Application

Foundation

Scoring high on the GMAT6 strategies that high-scorers know about the test!

#1 What Does The GMAT Really Test?

• Skill? Intelligence?

• The GMAT is not about learning a bunch of formulae or

grammar rules, or practicing from all the material you

can download from the internet!

• It requires understanding the question types

frequently tested on the GMAT and developing specific

strategies to answer each

Using the Brute-Force Approach

• The RS Aggarwal method: practicing hundreds of questions

of a similar type

• If you practice solving too many sums fast, you will only get

better at being bad!

#2 Go Official!

• The Internet is the biggest bane of GMAT test takers

• GMAC pays $2000 per question; Test prep companies pay $20

• Other sources may give you tediously tough questions, but only

official questions are elegantly tough!

• When you use any technique created by a test prep company: Ask

yourself whether you can actually use it in <2 minutes on

the GMAT – if not, it’s useless!

Think Beyond OG

• The OG: Necessary but not Sufficient

• The best questions to practice from are ‘retired’ GMAT

questions – we have compiled 1000+ GMATPrep questions

in the CrackVerbal Advanced Documents

• You will be able to recognize question patterns as you solve

more such questions

#3 Tough Questions Don’t Come With A Red Beacon On Top

• Tough questions LOOK easy – but are tough to spot!

– Answer options will repeat wording from the question

stem

– Or conveniently carry the same value you have arrived

at

• You will learn to recognize them only if you solve tough

official questions

Accuracy – A Misleading Metric

• Is the ‘average’ beauty of the country measured by the number

of ‘Miss India’s who go onto win the Miss Universe title?

• Accuracy in solving OG questions is not a true measure of how

well you will do on the GMAT

• Understand WHY you got each question right or wrong

• Remember the takeaways and the structural patterns for later

use

• Mindless practice is not the key – Analysis and Application are!

#4 Making Your Prep Effective

“I have completed all the questions from the OG and the

Verbal & Quant Reviews. But I am still getting about 40% of

them wrong. Can you suggest more material to practice

from?”• If you have solved 3000+ questions and your performance has

not improved significantly, MORE PRACTICE is not the answer!

• Do not solve questions mindlessly: focus on the takeaway

• Review not just questions you got wrong, but also the ones you

got right: did you get them right for the right reasons?

• Solve “blocks” of questions, not just one at a time

• Keep your practice sessions focused

NMGTS: Knowing How To Analyze

• Nailed it: Qns you can get right if woken up from your sleep

• Missed it: Knew it, but made a silly mistake

• Guessed it: (un)Lucky guess – was confused

• Timed it: Or not. Spent far too much time

– Better to get a qn wrong in 30 secs than right in

5 minutes!

• Screwed it: Had no clue what hit you

#5 Time Management On The GMAT

Food for thought: you would rather get a question WRONG in 30 seconds than get it right in 5 minutes!

• 1 minute more per question may not improve your

chances of getting it right, but 1 minute less per question

will definitely increase your chances of getting it wrong!

• Can I solve this question?

• Can I solve this question in under two minutes?

Time Management On The GMAT

• Visualize the entire section in terms of 5 wedges (or

sections) of 15 minutes each

• After every 15 minutes, check how many questions were

you able to solve

– Ideally, 8 Verbal and 7 Quant questions in 15 minutes

• If you are lagging by 2 or more questions, GUESS the next

question unless it is a sitter

Making Educated Guesses

• Right from schooldays, we were taught that guesswork is a

crime → Not true on the GMAT!

• Not everything on the GMAT is black & white → Learn to live

in the gray area! i.e. learn to make educated guesses.

• Remember – if you are 100% sure about your answer, you

may have spent more-than-necessary time on that

question. You just need to be 90% sure.

#6 Fatigue On The GMAT

• The GMAT is a marathon – not a sprint

• Practice multiple full-length tests

• Longer prep sessions

• Consistent everyday practice – not just weekend cramming!

Taking Practice Tests

• Practice tests WILL HELP you:

– Check your progress

– Hone your test-taking strategy

– Understand your gap areas

• They ARE NOT:

– A substitute for preparation

– A substitute for practice

• Take mock tests AFTER you complete the OG & Reviews and

fix the more fundamental issues in your preparation

Part 2 : Where should you apply?Selecting Your Target B-schools

Key Factors In B-school Selection

Course Duration Geography

Specialization Profile Fitment

#1 Course Duration

1 year MBA is NOT ½ of a 2 year

MBA!

Typically require higher work

experience

• ~4 years

Pros:

• Lower on opportunity cost

Cons:

• Decision about career goals →

Faster

• No internship → Career Switch

difficult

#1 Geography

Geographies you can choose from:

□ USA

□ Canada

□ Europe

□ APAC

□ ANZ

□ India

Factors to consider:

□ Prevailing Economy

□ VISA regulations

□ Job Opportunities

□ Program Cost

North American Schools

Top 3 Reasons

1. Large economy2. Land of opportunities3. Great schools

Crème de la Crème: Harvard, Wharton, Stanford, MIT Sloan, Columbia, Chicago Booth, Kellogg

Top: Haas, Duke, Darden, Tepper, UCLA, Ross

Mid: Broad, Smeal, Kelley, McCombs, Krannert

Canada: Richard Ivey, Queen’s, Schulich, Rotman

APAC Schools

Top 3 Reasons

1. Closer to home2. Growing economy3. Relatively less expensive

Australia: Melbourne Business School, AGSM Sydney

Singapore: NUS, NTU, SMU

Others: HKUST, AIM Manila, CEIBES China

European Schools

Top 3 Reasons

1. Great brand names2. Mostly 1-year programs3. Cultural exposure

Top: IMD Switzerland, INSEAD Paris, LBS

Mid: Said - Oxford, Judge - Cambridge,

Others: SDA Bocconi, Eramus, IESE, ESADE, HEC Paris

Indian Schools

Top 3 Reasons

1. Culturally in your comfort zone2. No VISA required & network already established3. Costs are lower and loans are easier

Top: ISB, IIM-A, IIM-B, IIM-C

Mid: IIM-L, XLRI GMP,

Others: SP Jain Dubai, Great Lakes

#3 Specialization/Expertise

Questions to ask:

1. What does the school website say about the specialization –

such as core courses, centers of excellence, faculty etc.

2. How is this school ranked in that specialization?

3. Does it have a locational advantage for your career? Such as

Bay Area for IT, Boston for Healthcare and New York for Finance

4. What %age of the class get employment in your chosen

industry?

5. Do your dream companies recruit from this school?

• Using to research

#4 Profile Fitment

Things to consider:

1. Incoming Class Profile

• Work experience & age

• Ethnic & gender diversity

• International students

2. Class-size

Selecting & Applying To B-schools

Category of Schools:

1. Dream

2. Stretch

3. Reach

What rankings to look at?

• Business Week Rankings 2012

A recommended mix would be 1-2-3

Apply to Dream & Stretch schools in Round 1 itself

Part 3 : What to look out for!Five Mistakes That Indian MBA

Applicants Make

Mistake #1: Being Vague/Too Generic

One of the reasons why I wish to pursue an MBA at this time is

that I am looking for a career change. I want to enter the world

of finance as I feel that I am best suited for a job in this area.

I want to join B-school X because it has a great reputation

internationally, world-class infrastructure, excellent faculty

and a diverse classroom, all of which will help to hone my

skills and enhance my knowledge.

Mistake #2: Using Technical Or Management Jargon

My current role is that of an IT Business Analyst at co. X, and

this role involves providing decommissioning solutions  to a

global energy major. These solutions help the client redefine

their IT landscape by effectively replacing and

decommissioning applications which are currently in use .  

An MBA will help me understand the broader aspects with

respect to the fundamental areas of core business that would

not only help me transition to a strategic consultant but also

help me gain an integrated view about the implications of the

various business actions and decisions , envision my goals and

help me establish a firm grounding in the industry with respect

to the relevance of my skills.

Mistake #3: Citing Success Stories Long Past Their Expiry Date

I was a school prefect consecutively from classes 9 to 12. I was

part of the under-13 district volleyball team and have helped

win many matches. I have also represented my school in many

quiz and debate competitions.

Mistake #4: Not Quantifying Your Achievements

I was responsible for achieving the quarterly sales and

revenue targets set by the company. I also managed the sales

force in many of the company’s rural and urban retail outlets.

Though the market declined over the past year, I helped my

region grow tremendously.

I was responsible for achieving annual revenues of USD0.8

million, and exceeded this target for 3 consecutive years from

2008 to 2010 I also managed a 270+ member strong sales

force across the 120+ urban and retail outlets of the company.

Though the market declined by 1% over the past year, I

delivered a regional growth of 4%.

Mistake #5: Assuming That The Reader Has Contextual Information

Recently, we had to make a tremendous number of updates to our content

for a client that required it yesterday. No amount of motivation was able

to convince the team that we could do it. I stretched my office hours from

9 am in the morning to 4 am the next morning. Within 3 days, most of the

team joined me in the endeavor and we were able to finish the project’s

updates in no time.

I strongly believe that if one’s passionate about one’s work, this infuses a

sense of ownership, commitment and pride in everyone around. Recently,

a client requested numerous updates to be made to our content within a

very short time span. The enormity of the task was such that no amount

of motivation could convince the team that it could be done However, I

started working 19-hour days on the project. Seeing my commitment, my

team joined me within 3 days, and we completed the project on time .

In Summary, A Good Applicant Should Have…

A clear statement of goals

Your expectations from an MBA program and from the

particular school

A compelling story about what defines & differentiates you

from other applicants

Thank You!

Stay ConnectedFor the latest news from the GMAT and MBA world!