Top 3 Reasons – Why should you take the GMAT? by Suheb Hussain Published Sep 7, 2018 https://e-gmat.com/blogs/why-take-the-gmat-top-3-reasons-benefits/ Taking the GMAT exam is a prerequisite for admissions to practically all MBA programs. Scoring high on this standardized test promises benefits before and after graduating from a business school. There are a lot of answers as to why take the GMAT, the top 3 reasons being: Admit in a Top Business School High Chance of Scholarship Better Post-MBA Job and Salary Reason 1 – MBA Admission There is a high correlation between a high GMAT exam score and an admit in the business school of your choice. This is because GMAT is the only component of your application that can pitch you objectively against the other applicants. All other components of the application such as work experience, extracurricular activities, personal essays, etc. are highly subjective. Gaining an exceptional score in the GMAT tells the admission committees upfront that you have what it takes to handle the rigors of an MBA program. Thus, it is not surprising that 9 out of 10 new MBA enrollments are made using a GMAT score. Further, the exam assesses the skills most vital to succeed in an MBA program. Hence, an excellent score allows the candidate to showcase skills that matter most in MBA academics. (...) Reason 2 – Why take the GMAT – Chances of getting a scholarship Most of the prospective MBA candidates don’t have a glorious bank balance to finance their education. Gaining a scholarship is a great way to pursue an MBA program without the financial burden that comes along with it. However, competition for such fee waivers can be brutal, with most of the students scrambling for a piece of the meat. For most people, the target score should be at least 750 to be seriously considered for a scholarship, as the average GMAT score requirement of the top 10 schools range from 710 to 740. The bottom line is to chart out a two-step strategy to substantially boost your chance of securing a grant: Identify well in advance the average GMAT score of the MBA program of your choice Achieve the target of scoring higher than the average score Typically, business schools do not look for a specific test total to guarantee a scholarship; however, they are most certainly drawn towards scores over and above the average at their school. Reason 3 – Why take the GMAT – Better post-MBA salary If you thought that the role of the GMAT exam is only to get you an admission into an MBA program, it is time to think again. An outstanding score plays an equally big role post-MBA as it does before and during MBA. High scorers are more likely to get an admit to the top business schools. Students of these schools, in turn, have the greatest probability of landing the choicest of jobs after acquiring the coveted MBA degree. GMAT 680 vs 760 – What is the difference in earning potential? A lot of factors come into play when landing post-MBA jobs, most of them being subjective. However, we have observed a trend in salary demarcation among those whose GMAT scores hover around 700 plus and those who score a few notches below. Most graduates with a score of 700 and above earn an average salary between 120k and 140k. Those with a score lower than 700, end up making around 115k to 118k. That’s a YOY difference of around 20k – a significant gap There isn’t a shadow of a doubt that a high GMAT score opens the doors to unimagined opportunities. However, we need to also acknowledge the fact that most of the exam aspirants require a solid amount of hard work and dedication to execute the mammoth task of acing the GMAT. (...) A score over 750 is within reach of whoever takes this exam seriously and works towards it with due diligence. Only a few months of dedicated and consistent schedule is all that is required for a brilliant score. Therefore, if you have any doubts as to why take the GMAT, it’s time to reconsider!