Pros and Cons of Applying to an MBA in Rounds 1, 2 & 3

Apply in Round 1 or Wait till Round 2?

This is the question that pops into the minds of many candidates.

In last week’s blog, we talked about the differences between round-based and rolling admissions, and shared some general advice: Apply as EARLY as you can with the BEST possible application.

However, you may have decided to pursue an MBA later in the application cycle. Or, it may have taken you longer than expected to get a competitive GMAT score.

Should you wait till next year, or should you apply as soon as you can, even if it means applying in later rounds?

This week, we look at the pros and cons of applying in each MBA application round.

Round 1 (early in the year for rolling-based admissions)

Pros: Business schools view early applicants as serious and well-prepared candidates. Statistically, your chance of getting admitted early in the application cycle is higher, because you’re only competing with applicants in that round.

Applying in the first round signals to the business school that it is your top choice; this gives you a better chance for an entrance scholarship. And, just in case you don’t get into your top school, applying early gives you an opportunity to apply to other schools in Round 2.

Cons: If your application is not the strongest, a business school may decide to place you on a wait list and wait to see what other applications arrive later that year. If you could submit a better application in Round 2, it may be worth waiting.

Round 2 (mid-year for rolling-based admissions)

Pros: If you need a few extra weeks (or months) to improve your GMAT, or if you’ve only recently began working with an MBA Admissions Consultant and need more time to prepare a stellar application, then applying in Round 2 may be the way to go.

Applying later may also give you a chance to attend the schools’ information sessions, to visit the campuses, and to better tailor your application to each school.

Cons: Round 2 is when most applications arrive. You’ll be competing with a greater number of candidates (including those from the first round), so the Admissions Committee may be less willing to give consideration to your less-than-perfect application.

Round 3 (late in the year for rolling-based admissions)

Pros: Most business schools will still have a few spots available for outstanding candidates. If you have an amazing background and a super strong application, even top business schools might still offer you admission in Round 3, rather than lose your application to competing schools.

If you’re applying to a second-tier school, it may have had a few spots opened up, because some of its accepted candidates decided to go to a different school. If you could present an interesting and unique application, you’d have a better chance of picking up the vacant spots late in the game.

Cons: The odds are not in your favor if you apply late. Most seats have already been filled. Most scholarships have been given out. If you’re applying to top-ranked schools, you may be better off waiting a few months and applying in Round 1 of the following application year.

Yes, this may mean waiting another year to start your MBA, but – remember, that once you get your MBA, you won’t get a second chance in doing another MBA. Waiting a year and studying at a school that’s a much better choice for your career may be worth it in the long run.

What about applying to multiple schools?

The general advice we share with candidates is to apply to all their desired schools around the same time. However, if you don’t have the time or resources to prepare all applications at once, consider splitting your school list into top choice and second choice schools, and apply to all of your top choice schools FIRST and in the same round.

(This should be obvious, but so many candidates do the exact opposite!)

Applying to schools with rolling admissions is even trickier, since if the AdCom considers your application very strong, it may make a decision very quickly and may give you a limited time to accept the offer and pay your deposit, especially if you’ve been offered an entrance scholarship.

Would you want to be under pressure to accept an offer from your second choice school before you have a chance to hear from your top school?

Navigating application deadlines is a bit like solving a jigsaw puzzle. You’ll need to look not only at “Application Deadlines”, but also at the “Decision Release Dates” published by b-schools with round-based admissions, and decide on your timelines well before applying.

We can help you figure out the best application strategy.

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10 Best GMAT Preparation Tips for 2018

The GMAT could easily be the most difficult test you’ll ever write. Questions are tricky. Timing is brutal. The exam gets progressively more difficult with every question you get right.

To score well, you need to be better than hundreds of thousands of candidates who took this test in the last 3 years. Knowing formulas and tricks is simply not enough to get a competitive score.

Preparing for the GMAT could certainly be overwhelming. But it doesn’t have to be.

Follow the step-by-step guide in this week’s Top 10 GMAT Preparation Tips and you’ll be well ahead of other candidates who are still struggling to get started!

1. Refresh your Math theory

Learn all the theory. This is the most fundamental element of the GMAT. Many test takers are afraid of this, but remember that most of the theory is high school or earlier. So, if you learned it back then, you can learn it again.

Moreover, the theory is finite, which means that there is an end in sight. Believe it or not, it’s possible to learn all the GMAT Math theory within a couple of weeks.

As you learn the theory, be sure to not just read about the concepts, but also practice. Knowledge is power only when you can apply it!

If possible, attend a Free GMAT Math Refresher class in Toronto, you’ll get not only an excellent overview of Math fundamentals, but also will learn the GMAT prep strategies to help you achieve a 700+ score within a matter of weeks, not months.

2. Get reading!

The #1 mistake everybody makes on the test is mis-reading. On the GMAT, you’ll be expected to read long, confusing passages that are really boring!

Start reading complex passages and academic articles – this will help you get used to reading an analyzing difficult texts on unfamiliar topics – a skill that will go a long way on the test day!

3. Take a free practice test

After you’ve refreshed your basic Math theory, but before you started studying for the GMAT, take a free diagnostic test. This will help you understand your starting level and build a solid study plan to get you to your dream score.

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Didn’t score well on the diagnostic test?

Remember, diagnosis is not the same as prognosis. With the right time, effort and support, you can achieve your dream score – guaranteed. To do so, however you need a study plan.

4. Have a realistic study plan

Know where you’re starting from (your diagnostic score), where you want to be (your target score), and how much time you could spend studying each week. Build a study plan and be sure to run it by someone to see if it’s realistic.

If you write our practice test, we’ll help you with your study plan for free.

5. Follow your plan, adjust if necessary

A plan will only work if you stick to it. However, if you’ve overestimated your time commitment, or underestimated your abilities, your plan will need a review. Be sure to look at your plan at the end of each study week and adjust, if necessary.

Spend 10-15 minutes at the end of each week to record your progress and tweak your future plan. Remember to keep it real – be honest with yourself!

6. Don’t rely on memorization

If you’ve studied for a while and haven’t seen improvement, you may be focusing too much on memorizing concepts and question explanations. After all, this is what most of us did on college exams.

However, this strategy will not work on the GMAT. To master the test, you need to develop skills to take on this challenging exam, not simply memorize the steps to solve a problem.

Do you think you could learn how to swim by memorizing how to do it?

Learn new skills. Don’t simply memorize. If you decide to come to the Admit Master GMAT Mastery program, you will learn advanced skills we call “Thinking Like a CEO”. These skills will help you not only do well on the GMAT, but make better decisions in your everyday work and personal life.

7. Learn from your own mistakes

Many people are afraid of making mistakes, but mistakes are good when you study! They give you an opportunity to get outside of your comfort zone and learn better ways to approach problems.

8. Do online practice questions

You may have already been doing questions from GMAT books; however, there is no substitute for the computer-based practice. An online study platform not only will help you get used to doing questions on a computer, but also, most importantly, will keep track of your progress and will tell you what you need to focus on, helping you study more efficiently.

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9. Write 6-8 practice tests

Full-length, 4 hour GMAT practice tests will give you real insights into what you can expect on the test day. They will also help you chart your study progress and understand when you’re ready to face the real exam.

Once you learn GMAT strategies and methodologies (ideally by taking a professional GMAT course), be sure to schedule 6-8 practice tests once or twice a week before your test day, and don’t forget to allocate time to analyze your performance and learn from your own experiences.

Want to know what practice exams to take? Read our recent blog about this here.

10. Don’t forget the rest of the application!

It’s been said that GMAT may be the most important part of your MBA application. However, this is only partially true.

For most top business schools, a high GMAT score is a necessary, but not a sufficient condition to get in. The strength of your application will play a much more important role in the admission decision.

Many business school students will tell you the GMAT was the easy part. Do you have what it takes to get into a top MBA program (assuming you can do well on the GMAT)? Do you have realistic expectations? And are you not selling yourself short? We can help you answer all of these questions at a free 1-on-1 MBA Admission Consultation.

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10 Best MBA Application Tips for 2017

Applying to an MBA program is as exciting as it is often confusing!

  • How do I pick the right program?
  • When is the best time to apply?
  • How do I make my profile stand out among thousands of other applicants?

 

This week, we kick off the new 2017 MBA Application season with top 10 MBA Admissions tips.

1. Do the school research!

First of all, understand WHY you want to do the MBA and WHAT you want to get out of it. There are a lot of different criteria to consider: location, class composition, program type, program length, tuition, rankings, career opportunities, etc.

Write down your career goals and pick the schools that will help you get there. Be sure to visit MBA fairs and talk to as many school representatives as you can – you may have read some blogs and visited business schools’ websites, but there is no substitute for getting first hand comments from real people!

2. Get to know your dream schools better!

Once you create a short list of your target schools, do a more thorough research into the schools’ profiles to make sure you get the right fit: visit the campus, talk to current students, feel what it’s like to spend a day of the real MBA life on campus. You may have a very different feeling towards a school after visiting it, but you will definitely find your perfect fit!

Take your school selection seriously. After all, an MBA degree is a big investment of your money and time that has the potential to pay you back many times over and fulfill you personal and career dreams. Get the right support and the right resources, and you could take your career to the heights you never thought possible!

3. Get your GMAT or GRE done!

Some business schools will accept either the GMAT or the GRE. Some will require the GMAT only. If you haven’t taken any of these tests yet, choosing the GMAT (the Graduate Management Admission Test) will show the Admissions Committee that you’re serious about getting a Business Degree.

If you’re targeting one of top business schools in the United States, Canada or Europe, you will need an above-average GMAT score, ideally over 700. Since only 11% of test-takers get such a high score, take your preparation seriously and allocate enough time to prepare for this test!

Write a diagnostic test before you begin studying. Put together a realistic study plan. Sign up for a Free 1-on-1 Consultation with a 99%-ile GMAT trainer who will help you understand your strengths and weaknesses and develop a study strategy.

Take a GMAT course if it’s available in your city, or an online prep program if a live course is not feasible. Many other candidates applying for the same MBA spots do!

After all, the GMAT is not a test of intelligence or any subject matter. It’s a test of how well you can study and learn from your own mistakes. No matter how you did in high school or University, you can get a good GMAT score with the right strategies, the right focus, and the right training.

Look for a blog post next week with top 10 GMAT preparation tips!

4. It’s not only about the GMAT…

Nor it is only about your undergraduate GPA. Remember that an MBA is a professional degree, not simply an academic degree. While your academic achievements are important (and getting a low GMAT score and, to a lesser extent, low GPA could be a deal breaker), AdComs look for well-rounded individuals who can succeed not only in the program, but also in their future careers.

Be sure to take the entire application process as seriously as you’re taking your GMAT prep. Even if you plan to prepare the application on your own, get a professional opinion on the strength of your profile before you apply. Admit Master offers free MBA Admissions Consultations, sign up here.

5. Observe the deadlines!

Many top business schools accept applications in rounds. To be considered for a round, you must submit all documentation by the posted deadline (note: they can be different for different schools!)

Leave yourself plenty of time to get your application in order. Learn about financial aid application deadlines (they could be different). Keep in mind that recommendation letters as well as the GMAT prep may take longer to complete.

Look for a blog post in 2 weeks with important tips on the timing of MBA applications!

6. MBA Application Essays: tell a story!

The most successful applicants tell a compelling story. They don’t simply answer the essay questions; they develop a story that helps them stand out among thousands of applicants. You may have a very strong GPA, GMAT and work experience, but how are you different from everyone else who does?

Writing a personal story is often the hardest part of the application, which is so frequently overlooked. Hire an MBA Admissions coach if you need to – it will be a small expense relative to the benefits you’ll get from earning a degree from your dream business school!

Make sure to write targeted essays for each school you apply to. Avoid copying and pasting your essay answers from school A to school B. Business school admission committees will catch these errors right away and your reputation will be undermined. Proofread before submitting your essays.

The worst mistake you can make is to misspell the name of the school or to write about a different school in your essay – this will be a sure-fire way to get your application thrown out before the admissions officer even finishes reading it!

7. Not your typical resume!

The MBA Application resume is different from a typical work resume. Think of quality vs. quantity. Ditch the list of technical skills and focus more on your career progress and your leadership skills.

Whenever available, include specific figures (e.g. the number of employees you supervised, or the amount of sales growth your efforts yielded). Punch up the tone with a variety of verbs, rather than repeating the same, blanket action words. Highlight major certificates or awards, and remember to mention your community and volunteer involvement.

Finally, limit your resume to a single page. An easy task, right?

8. Pick the best recommenders!

Choose people who know you well and can speak about your character, work ethic, dedication, and commitment. Don’t go for titles – your immediate supervisor is often a much better reference than a CEO or a VP who only saw you a handful of times.

Be sure to give your recommenders plenty of time to write your recommendation letters. You don’t want to be chasing your managers or clients at the last minute.

In most cases, schools won’t allow personal friends or family members to write your recommendation letters, and won’t be interested in academic references, unless you’re applying for direct entry Master’s or Co-op MBA programs.

Your letters of recommendation are opportunities to present glowing, third-party endorsements. With proper planning, they’re a foolproof way to boost your application.

9. Ace the Admission Interview!

Some candidates take the MBA Admission interviews too lightly. Don’t!

If you were to invited for a job interview, are you guaranteed the job? Approach the business school interviews even more seriously than you were a job interview.

Do a thorough research into the school you are going to have an interview with. Be ready to answer behavioral questions and address any gaps in your profile.

Let the interviewer lead the session and set the tone, but don’t forget that an interview is a two-way exchange process. Tell your story. Ask compelling questions, answers to which can’t be easily found online.

Don’t miss your opportunity to shine! Once you’ve been invited to the interview, that one hour with the admissions officer may be the most important hour of your future career! It may mean the difference between getting rejected, being on a wait list, or getting in with a huge entrance scholarship!

Even if you haven’t used Admissions Consultants to help you with the entire application process, hiring a coach to help you prepare for the interview is usually an excellent idea!

10. Money can be found!

High MBA tuition fees can certainly be a turn-off for many applicants; however, if you have what it takes to get into a top business school, money can usually be found!

Remember that there are many sources of funding. Business schools have dedicated departments to help you figure out the sources of funding. Moreover, you have a lot of influence over your chances of getting a large entrance scholarship! Don’t let the fact that you don’t know where the funds will come from – yet – deter you from applying to world’s best business schools.

An MBA degree is an investment in yourself that takes careful planning. Follow these best practices and create a competitive MBA Application that will surely make it to the top of the pile! Make the right choices, and your career can be changed for the better forever.

Admit Master is one of North America’s leading MBA Admissions and GMAT prep companies headquartered in Toronto. Admit Master is known for its unique personalized approach, professional GMAT training, and expert MBA Admissions Consulting offered by a team of former Admission Directors from top business schools.

Sign up for a Free 1-on-1 Consultation and let us guide you to a successful admission to your dream business school!

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GMAT Mock Exams – When, Why, What and Where?

If you clicked through to this article, you’re already aware, by now, that you need to take multiple practice tests to get prepared for the test day. Keep reading if you’d like to know:

  • When should I take the GMAT practice tests?
  • Why should I take them?
  • What tests should I take?
  • Where should I take them?

GMAT mock tests are not created equal, so we’ll also be busting a couple of GMAT myths.

Your first GMAT Practice Test

When?

Before you begin studying. Yes, that’s right!

Why?

  • Understand your existing skills level and build a realistic study plan to reach your score goal.

Need more convincing?

GMAT exam is based on basic theory from high school and measures skills you have developed over a long period of time through education and work.

If you’re considering an MBA program, you must have graduated from high school, and you’ve likely developed at least some skills required for the GMAT!

Taking a test before you delve into the preparation will help you assess your existing skills and save time in the long run.

What test should I take?

Before we answer this question, let’s bust the first GMAT myth:

GMAT Myth #1: The Official GMAT Practice Tests are the best out there, therefore I should only take these tests.

Fact: It is true that the Official GMAT Practice Tests resemble the real test most closely. However, there are 2 big downsides to taking the “official” tests early in your studies:

  1. The Official GMAT Tests don’t include question explanations. Wouldn’t you want to know how you did and what to improve? Unlike many simulated tests, the Official Tests provide very limited analytics.
  2. There are only 2 free Official GMAT Tests. While 4 more tests could be purchased for approximately US$100, the Official Tests are best taken when you’ve already studied extensively and are getting close to your test day. They’re good for simulating the real test environment, but they’re not very helpful for studying.

Most simulated tests developed by reputable test prep companies include detailed analytics that help you understand what areas specifically you need to improve. Moreover, these tests let you review and read an explanation for each question you’ve seen on the test.

AdmitMasterOnlineAnalytics

When you’re only beginning to study, taking a simulated GMAT test with analytics and explanations is a much better idea.

Where should I take the first “diagnostic” GMAT test?

Wherever a reputable simulated test is offered (not the “Official GMAT Test”, you already know why)!

Admit Master offers monthly GMAT mock tests based on the industry leading software. Not only will you get an accurate assessment of your score, but also – exclusive to Admit Master – you’ll be able to access your full exam results from home, including a report of your strengths & weaknesses and all question explanations!

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Your second (third, fourth, etc.) GMAT Practice Tests

When?

After you’ve learned strategies to tackle every type of GMAT questions.

Why?

  • Evaluate your study progress
  • Get used to the adaptive test algorithm
  • Assess your strengths and weaknesses at the new score level
  • Train for the rigor of the test day
  • Understand when you’re ready to face the real test

As you could see, you will take your second (and third, and fourth, etc.) tests for very different reasons than your first test. However, simply taking multiple tests is not enough – with every test you should be analyzing your performance and learning from your own mistakes.

What tests should I take?

As you continue studying, you should still focus on “unofficial” tests that provide good analytics and question explanations – after all, your main goal is to learn from your mistakes, and you need a report to see your mistakes!

As you’re starting to reach practice test scores closer to your “target score”, take both “Official GMAT Practice Tests” to get used to the exact software interface that will be used on the real test.

Where should I take these tests?

Most prep companies offer a pack of simulated tests when you take an online or a classroom program. Admit Master’s GMAT Mastery or GMAT Online students receive 9 simulated online tests included with each prep course.

If you’re studying on your own, you could get a pack of 5 simulated tests for only $39.99 here.

Bonus: How many tests should I take?

Practice GMAT tests will not only help you prepare for the test day, but also will help you understand when you’re ready to face the real test. Statistically, your real test score will be within +/- 50 points of the average of your last 3 practice test scores.

While an average student will take 6-8 tests, you could end up taking fewer (or more) tests depending on your own progress. This is why you need to have access to 6-8 (or more) different practice tests.

GMAT Myth #2: Each practice test could be taken multiple times, so there is really no limit to how many tests I could take. One test prep center in Toronto even goes as far as to claim to offer “unlimited free mock GMAT exams”.

Fact: Each practice test has a pre-selected pool of questions. If you take the same test the second time, you’ll see many of the same questions. This will not only skew your results, but also is counterproductive! Take each test only once.

Ready to take your first test?

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Been studying for a while and need more practice tests?

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Want to get a 700+ (90%+) score on the GMAT? Here’s how

Canada’s best GMAT trainers share tips on acing the GMAT… and enjoying the challenge!

Have you ever taken on a new challenge? How did you overcome it? Did you simply read a book about it, or did you follow any training program to help you succeed?

Many beginner students approach the GMAT as if it were a “traditional” content-based exam. They read 10-12 books, or maybe even attend a 100-200 hour “cramming” course that requires them to memorize lots and lots of content.

Bad idea!

This strategy may have worked in college, but it will not work on a standardized test such as the GMAT.

The GMAT measures advanced reasoning skills, rather than knowledge of any specific subject matter. There’s not much to memorize – instead, you need to learn how to answer dozens of progressively harder questions quickly and accurately. This requires a new approach – an approach we call “Thinking Like a CEO”.

Help me! How should I study?

Because the GMAT is a skills-based rather than a content-based exam, if you want to do well on the test, you need to train for it as, if you were to train for a marathon or for another sports challenge!

Follow these tips, based on our experience training hundreds of students for 700+ GMAT scores, to make your test preparation efficient – and enjoyable!

    1. Learn the rules of the game. On the GMAT, this is Math and English Grammar theory from high school. It may have been a while since you’ve learned it, but you did it before – and you can certainly do it again! Moreover, the theory tested on the GMAT is finite, meaning there is end in sight. Learn 100% of it!
    2. Learn how to play the game. Learning all of the rules of soccer will not – yet – make you a good soccer player. You need to learn the strategies for winning a game. You could try to figure out the strategies on your own, but this approach may easily become the case of “not knowing what you don’t know”. Training in a small class environment for 6-8 hours/week and doing lots of exercises between classes will let you master the best strategies and achieve a GMAT score well above your expectations!
    3. Get coaching, keep practicing. Even if you attend the best GMAT course in the world, you can’t get good results if you don’t continue practicing on your own. To study more efficiently, get a coach who will help you overcome your weaknesses and make learning more enjoyable.Each student in the GMAT Mastery program gets a coach, but even the best coach cannot be with you 100% of the time. When you attend the program, you will learn how to coach yourself – a useful skill you could apply to any area of your life!

Avoid expensive mistakes

If you’re only beginning to study for the GMAT, you may be tempted to memorize lots of content or cram – after all, this is what we all did in college or university (OK, maybe you were an exception – but I sure did!). Doing so on the GMAT will not only lead to poor results, but will cause you much frustration and may even discourage you from pursuing an MBA degree!

Avoid expensive mistakes that could jeopardize your chances of admission to your dream business schools. Accept GMAT as a challenge to overcome, train for it properly, and not only will you get great results, but you will also enjoy the process!

Want to learn more?

Sign up for a Free 3-hour GMAT Class and get a lowdown on the strategies that could help you reach a 700+ score in a matter of weeks.

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Sign up for your Free 1-on-1 Consultation with a 99%-ile GMAT trainer and get personalized feedback on building a successful GMAT study plan.

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When should I start preparing for the GMAT?

Because we work with hundreds of MBA candidates each year, many of whom are targeting 700+ GMAT scores and are applying to top business schools around the world, we often get asked:

When is the best time to take the GMAT?

3 months before the deadline? 6 months? 2 weeks? 2 years?

And is there a “best time” of the year to take the test?

You may already know, by now, that most major cities have test centres where you can take the GMAT almost any day of the year. For example, Toronto is home to 2 GMAT test centres: one downtown at St. Claire & Yonge, and one in the West End near Dundas & 427. Moreover, if you’re not picky about the time and day, you could find availability for an exam within a few days.

Tip: you might notice available times within 1-2 weeks of today’s date, then almost no availability for another 2-3 weeks, and then lots of available spots 1 month out. This is because candidates sometimes reschedule their exams as they get closer to the date and realize they’re not ready (you could reschedule the test for a fee of $50 until 7 days before the exam date).

If you study properly (more on this later), you could take the exam close to your target school’s application deadline, though we recommend leaving yourself a buffer of 1-2 months in case you’re not happy with your results and need to retake the test.

(You could take another test 16 days after your earlier one, and not more than 5 times per year. These restrictions apply even if you cancel your scores on the test day. Each exam attempt is US$250.)

Remember also that schools that accept applications in Rounds will need your official score results by the deadline posted on their website – this means that you’ll need to take your test at least 2-3 weeks before the deadline, and ideally earlier. The MBA application process is already stressful enough, you don’t need the extra worry of the exam results not reaching the school on time.

When would be the best time to start my preparation?

The short answer is, as soon as possible. GMAT is a difficult exam that is frequently underestimated not only by novice test takers, but also by many amateur tutors. Your exam results are valid for 5 years, so if you think you’ll apply within 5 years and have time to study now, start now!

Tip: If you’re still in University, take the GMAT while you’re in school (hey what’s one extra test?) You’ll improve your chances of getting a higher score and won’t have to worry about it when you graduate.

How long would it take me to prepare for the GMAT?

Your progress is measured in score improvement, not simply your current score. For this reason, it’s very important that you take a diagnostic test before you begin studying. Sign up for a Free GMAT mock exam in Toronto (offered in a proctored environment that simulates the real test), or take a Free online GMAT exam from home.

To estimate your required length of study, we recommend using the following guidelines:

Study Option 1: If you study on your own with books, or attend GMAT courses focused heavily on theory, you’ll need to spend on average 20 hours for every 10 points improvement (e.g. if you need to improve by 200 points, you should allocate 400 hours for your GMAT prep).

Study Option 2: If you take a well structured online program (such as this one), you’ll spend on average 15 hours for every 10 points improvement (e.g. if you need to improve by 200 points, you should allocate 300 hours).

Study Option 3: If you enroll in a well structured in-person training program (such as this one), you’ll spend on average 10 hours for every 10 points improvement (e.g. if you need to improve by 200 points, you’ll be able to reach your goal, on average, by spending 200 hours of study).

When building your study plan, make sure to estimate a realistic amount of time you could spend each week and you’ll be able to understand your timeline for the entire GMAT preparation. For example, if you need to spend 300 hours and could allocate 15 hours a week, your GMAT prep will take about 20 weeks, or 4-5 months.

Remember that the speed of your improvement, and your ultimate success on the test, are determined not only by the number of hours you spend, but also by the quality of resources and coaching you get.

We meet many students who studied with dozens of books for hundreds of hours, or took 100-hour and even 180-hour GMAT courses and showed little improvement.

Don’t fall into the one-dimensional “it’s all about the number of hours” trap. GMAT preparation is about smart training, not simply about raking up hundreds of hours of study.

For this reason, Option 3 (a well-structured classroom program that focuses on developing advanced skills) will not only let you learn faster, but will help you achieve higher scores as a result.

What is the best first step to start my GMAT prep?

In the next posts we’ll talk about how to select best resources for your GMAT prep, how to avoid most common mistakes of unsuccessful test takers, how to stick to your study plan, and how to evaluate your progress along the way, so that you know when you need to adjust.

In the meantime, be sure to take the first step as soon as possible. Don’t begin studying until you take a diagnostic test to evaluate your current GMAT skills – this will help you build an efficient study plan and realistically assess your preparation timelines!

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GMAT or GRE – which one should I choose?

If you’ve been considering applying to an MBA or Master’s degree at a business school, you may already know, by now, that one of the mandatory requirements is to write an entrance test to demonstrate your quantitative and verbal skills.

Why would such tests be relevant to business school admissions?

Since MBA programs involve dealing with lots of numbers, plus a lot of reading and writing, the admissions teams are looking for solid quantitative and communication abilities in their candidates. They come in especially handy when a candidate is coming from an arts degree.

There are two standardized tests that are widely accepted by business schools globally: the GMAT and the GRE.

Although the GMAT has been the go to test for business schools for a long time, in the last few years more and more business schools started accepting GRE scores as well.

Why did business schools begin accepting the GRE?

The answer is a lot simpler than you think! Business schools are no longer looking for one specific type of applicant. Because the GRE is taken by many Arts and Science grads to get into graduate school and measures similar skills compared to the GMAT, accepting scores from both exams is a way to diversify the applicant pool and the student population. Nevertheless, most schools see very few candidates submitting GRE scores.

The GMAT has been more commonly accepted and admissions officers are more familiar with its score breakdown, but this should not worry you if you would like to write the GRE test. They use an online comparison tool created by the test makers to convert your score to the GMAT scale.

What are the benefits of writing the GRE?

The GRE has been originally developed as a test for business Master’s degrees, such as the ones in Arts, Education, Computer Science, Engineering, etc. If you’re still exploring options and want to apply to both business and non-business degrees, the GRE will allow you to use your test results for both applications.

What are the benefits of writing the GMAT?

The GMAT is a specialized test that was developed specifically for business degrees. You would only choose the GMAT if you’re applying to business schools, since this test is not accepted for any other, non-business degree.

If you’re applying to highly competitive MBA programs (and most of Admit Master students do), taking the GMAT sends a strong signal to the admissions committees that you know exactly what you want and are serious about pursuing a business education. This may give you an edge on your application.

It’s not only about Admissions

The ultimate goal of almost every MBA candidate is to find an excellent job after graduation.

Since its launch in 1954, the Graduate Management Admission Council (GMAC) has done a remarkable job of continuously improving the GMAT and making it more and more relevant to business education.

Traditionally there were three sections: quantitative, verbal and a writing. As the business education evolved and became less academic and more practical, the GMAC realized the gap and addressed it by adding a fourth section in 2012 – Integrated Reasoning (IR).

This section asks the candidates to solve 12 mini business cases and provides a good indicator on a candidate’s ability to analyze and interpret data from different sources, such as graphs, charts, emails, memos, etc.

The addition of this section was one of the reasons why more and more professional firms (in industries such as consulting, investment banking, audit and accounting, etc.) use GMAT scores to screen candidates for both internship and full-time employment.

Why would companies care about GMAT scores?

Companies in competitive industries have a rigorous selection process for MBA interns and graduates. Since the GMAT has been universally accepted as a management admissions test, recruiters in these industries might find it easier to look at your GMAT score along with your MBA grades for pre-screening purposes. This is another reason why choosing the GMAT and taking it seriously might be in your best interests.

What would you recommend for me?

If you are sitting on the fence about which test to write, our recommendation would be to take the GMAT. As you can see, the GMAT is used not only for business school admissions, but also for your future employment opportunities. The admissions teams are more familiar with the GMAT and can interpret your score better. When you benchmark yourself against other candidates that apply to business schools, the GMAT score is easier to compare, since class profile scores are usually reported based on GMAT scores.

Why does the GMAT look so difficult and daunting?

One of the reasons why so many candidates are overwhelmed with the GMAT is that this test requires a different way of thinking, what we at Admit Master call “Thinking like a CEO”.

Unlike many other tests, GMAT does not test deep knowledge of any specific subject matter. Rather it evaluates your creative thinking, analytical, problem solving and time management skills, all in a high pressure stressful environment.

Because this is not a traditional academic test, traditional academic methods to prepare, such as reading books, memorizing tons of content, or attending lectures, usually don’t work well. Imagine if you were to learn how to swim by reading a book or attending a lecture on swimming.

Most candidates are comfortable with studying for a knowledge-based test. After all, this is how we learned in high school and in University. But such study methods wouldn’t get you very far on the GMAT. This is why professional coaching and training work well, because they help you develop the necessary skill set required to do well on the test, instead of simply teaching you a lot of theory.

Admit Master is one of very few companies that offer practical training instead of long lectures or volumes of books to read on your own. This training is intensive, requires your full commitment to achieving high scores on the GMAT, and yields excellent results.

I need a high GMAT score. What is the best first step to take?

Because the GMAT is a test of skill and not just knowledge, we all have a certain level of skill to begin with. Before beginning to prepare for the GMAT, we recommend writing a free practice test to benchmark your starting level and learn how much you might need to improve.

After completing your practice test, we’ll be happy to help you build a solid study plan to improve to the score you need to gain admission to your dream business school within your required timeline.

You could write this test from home, or come to our test center and write it in a proctored environment that simulates the real test day experience.

[button color=”blue” link=”https://admitmaster.com/freetest”] I want to write the test at home [/button]    [button color=”green” link=”http://freeexam.eventbrite.ca/” target=”_blank”] I want the real test day experience [/button]

Good luck!

Business schools’ “secret formula” for selecting MBA candidates

Every MBA candidate wants to know MBA Admissions Committees’ “secret formula” for selecting candidates. Have you ever wondered:

  • What are their selection criteria?
  • How can someone with a 700+ GMAT be “waitlisted”?
  • How do they see the leadership potential when a candidate has only two years of work experience?
  • What makes candidate A stronger than candidate B when they have equal amount of work experience and similar GMAT scores?

 
When I first joined Rotman as an Assistant Director of Admissions, I had those same questions on my mind. I thought there was a “secret formula” and was waiting for my colleagues to reveal all the secrets to me! To my surprise, there turned out to be no secret at all.

As the years went by, I got to know thousands of candidates and learned the MBA program at my school in-depth. I realized that there wasn’t one size that fits all. Each component of the MBA program addresses a specific area candidates could improve.
 

What does this mean to you as an MBA applicant?

The MBA program is not about just teaching you finance or accounting, not it is about producing more strategy consultants or investment bankers than the economy needs! It’s about helping you realize your full career potential, improve your weak areas, and develop your leadership skills.

The MBA programs are designed to give you a balanced mix of hard and soft skills. For instance, for candidates without strong quantitative backgrounds the “core” courses will be very beneficial. These candidates will learn the fundamental aspects of businesses, such how to read financial documents or marketing plans.

Candidates with strong technical skills will benefit from the teamwork, peer learning and networking aspects of the program and will be able to enhance their interpersonal and communications skills that are so crucial in the workplace.
 

How do you “sell yourself”?

When “selling” yourself to the admissions committee, it’s very important to showcase your talents, but also identify how the program can help you. Be confident but humble. Thinking you’re the perfect candidate would scare any admissions person, because this shows that you are not coachable or adaptable.

Develop good soft skills, ace the interview, and you could be heads above other candidates. Ignore the “people” aspect of the selection process, and not even a high GMAT score could help you gain admission.

MBA Admissions is more Art than Science. The admissions committee’s job is to evaluate you as a candidate from all perspectives and decide if their MBA program offers what you need – they are looking for the infamous “FIT”.

I find it quite surprising to see how some candidates decide not to apply to certain business schools because they think they’re not “good enough”. Every candidate has something valuable to offer to their future classmates. The hardest part often is to figure out what your competitive edge is, and highlight it as much as you can throughout the application process.
 

Sounds easy enough?

If you’re aiming to gain admission into top MBA programs and don’t want to “sell yourself short”, consider working with a professional MBA admissions consultant (all Admit Master consultants have practical experience working at one of top business schools).

Sign up for a free profile evaluation to see what schools will be the best for your career advancement.

[button color=”green” link=”https://admitmaster.com/free-consultation/”] Book My Free 1-on-1 Consultation [/button]

Good luck!

Claire Gumus,
Admit Master MBA Admissions Consultant.

Make your success in the New Year inevitable!

Have you made your New Year’s Resolutions yet?

Are some of them exactly the same you’ve made last year??

What is the chance you’ll stick to them in the New Year???

According to research by the University of Scranton, 1 in 3 people that make New Year’s Resolutions will ditch their goals by end of January, and only 8% will achieve them by end of the year!

If an MBA degree is on your New Year’s Resolution list, you simply can’t afford an 8% chance of succeeding! Each year that you postpone your entry to an MBA program costs you $30,000 – $100,000 because you’re delaying your chance to make a lot more money while doing the job you really love.

So how could you beat the statistics?

We’ve put together a few tips to help you keep your resolutions in the New Year:

1. Make it real

If you simply decide to eat healthier, or have a better career, how would you know if you’ve achieved your goals?? Instead of committing to a process, commit to the result.

For example: “I will lose 10 pounds by July 1st”, or “I will get a GMAT score of 700 by end of May”.

Resolving to achieve a measurable result lets you not only chart your progress, but also celebrate your achievement when you reach your goal.

Write down your desired result where you can see it every day, and also…

2. Know why you want it

According to Tony Robbins, there are 2 forces that drive human behaviour: a desire to achieve pleasure and a desire to avoid pain.

Write down how your life will be better when you achieve your result, and what things you can avoid once you reach it.

For example, “Getting a GMAT score of 700 by May will allow me to get into a top MBA program this year. I will enjoy making new connections, learning new things and travelling to new places. When I graduate, I will make a lot more money. By starting the MBA program this year, I will also avoid doing the same job I already don’t like for another year”.

Knowing why you want to reach your goal will create a sense of commitment. Another thing you could do to stay focused is to …

3. Ask questions

According to a recent research paper published in the Journal of Consumer Psychology, asking questions creates a “self-fulfilling prophecy” that helps you reach your goals.

Asking questions serves two purposes:

1. Asking Yes/No questions and then answering them, instead of making statements, makes you more successful in changing your behaviour, according to the study. For example, you’re more likely to actually get a 700 GMAT score if you ask yourself “Will I get a 700 score?” and then say, “Yes”, instead of just telling yourself “I will get a 700 score”.

2. Asking open-ended questions, such as “What do I need to do to get a 700 GMAT score by May?” taps into the immense resources of your subconscious mind (responsible for learning and long-term memory), and lets your brain find the way to get to your goal much faster.

Asking yourself questions is a powerful technique. What’s even more powerful is to …

4. Get around people that share the same goals

According to the same research, when you team up with a friend who shares the same vision, you make the commitment somewhat public. Committing to others makes you more accountable, making it much more likely that you’ll actually follow through!

Finally, you will dramatically increase your chance of success when you …

5. Take immediate action that makes success inevitable

The hardest thing is often deciding to take the first step. Has it ever happened to you that you really wanted something, but kept procrastinating, and several months later you still haven’t gotten any closer to your goal?

Did you know that the word “decide” comes from Latin “de” + “caedere” that means to “cut off”? When you decide to take the first step towards your goal, you’re cutting off the possibility of not reaching it.

The best way to decide is to take immediate action. If an MBA degree is on your resolution list this year, do something right now, before you close this browser, to make your success inevitable.

To help you reach your goals this year, we’ve put together a 2016 Kick-Off Party – tonight!

Commit to your success. Get around people that share the same vision. Ask yourself a question: “Is there anything more important than my long-term success right now?”

Take the first step before you close this page.

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Make the most out of MBA Fairs

How do you make the most out of the upcoming MBA Fairs? By the way, if you haven’t registered yet, there is still time to get FREE tickets courtesy of Admit Master! Please find links to upcoming events on our home page.

Here are 3 quick tips to making the most out of the MBA Fairs. These tips will not only help you make the best decision, they will help you increase your chances of getting accepted to your dream business school, with a good scholarship!

Shop Around

Tip #1: Shop Around

You wouldn’t buy the first house you see, yet sooo many students we meet don’t do enough research before picking their MBA program. And guess what – if you don’t like a house, you can always sell it. As for the MBA program, you can only do it once!

Get out there, talk to business schools, see what they have to offer, see what’s unique about each business school, and begin building your wish list before you commit to any specific MBA program. You’ll be glad you did!

Tip #2: Make a Good First Impression

Let’s face it – you will not get an admission decision right at the fair! For this reason, there is no need to tell your entire life history, or even bring your resume! (unless it’s super impressive and screams leadership)

Your goal at the fair should be to make a good first impression and stand out of the crowd of hundreds other people who attend the fair. How do you do that?

1) Look professional and wear something unique, such as a colorful tie or a beautiful scarf. You will look impressive and might even get a compliment!

2) Have a short memorable story about you, that you could tell in less than 1 minute. Again, your goal here is not to blab out your whole CV, but rather to share a unique experience, ideally related to your decision to pursue an MBA degree. Share a great story, and admission representatives will remember you, and will have positive associations with your profile at the time of making admission decisions.

3) Ask intelligent questions. Since you want to shop around and talk to many schools within a short time, you probably want to save standard questions such as “how long is your program” or “how much does it cost” for later – after all, you could easily find all of this information online. You will learn much more about the school, and will make a great first impression, if you ask questions such as:

  • What’s unique about your program?
  • What would your dream applicant be like?, or
  • Could you share an example of a career path of someone with background similar to mine, who has recently graduated from your business school?


Feel free to come up with your own questions based on what’s important for you!!!

Tip #3: Follow Up

Following up is sooo important but so many people don’t do that, or don’t do it right! Again, your goal here is to build on the good first impression! All you need to do is send a quick email, reminding them of something unique about you, telling them how much you appreciated the conversation, and (if appropriate) confirming your interest in applying to their business school.

Here is an example (Disclaimer: I’ve made this up – please feel free to write your own!):

Dear Amanda,

It was a pleasure meeting you at the QS World MBA Tour last Saturday. You may remember me – I wore a purple bowtie and we’ve chatted briefly about my experience leading a team of volunteers, who built 30 schools on the North Pole.

I sincerely appreciated your time and was glad to learn that ABC business school offers a unique team building experience for all MBA students – a week in Antarctica without food and without any communication with the outside world. I trust this experience will help every student develop outstanding leadership skills, so vital in today’s economy.

I am very excited about the MBA program at the ABC business school and am looking forward to submitting my application in Round 1 for the start date in September of 2016.

Thank you again for your time.
Sincerely,
John Burnes.

Your time is valuable, make the most out of the MBA fairs! If you haven’t registered yet, what are you waiting for? Get out there and make the best decisions for your career.

Remember to stop by the Admit Master booth to pick up your free GMAT study resources (including awesome chocolates wink-wink) and enter to win great scholarships!

If we could be of any help with your school selection, please let us know! Schedule your free 1 on 1 consultation with a professional MBA Admission coach who will help you not only pick the best business school, but also maximize your chances of admission with an entrance scholarship!

As always, all the best in your career journey!

Admit Master.