GMAT Preparation, MBA, B School Applications

What is the Penalty for not completing the GMAT test?

2012-01-10T04:30:00.000-08:00

All of us have known for a while that there is a substantial penalty for not completing either or both the sections in the GMAT test.

I have provided a simplified version of how the penalty works – based on the inputs received from the GMAT Test Prep Conference held on Dec 9, 2011 @ Gurgaon.

Let us say I attempt 34 out of the 37 questions in the GMAT Quant section. And to make things simple, let us assume that I have got all the questions correct. This gives us an interim score, which, let us say is equivalent to a Q46. Since, I have skipped 3 out of 37 questions, this interim score gets further adjusted.

Let us see how this adjustment happens. I have skipped 3 out of the 37 questions in the quant section. i.e., 8.1% of the questions in the quant section or I have attempted 91.9% of the questions. I will attract a penalty of 8.1% and my score will get multiplied with this percent of questions attempted. That is, after applying the penalty for skipping questions, my adjusted score after the penalty will be 91.9% of 46 = 42.

It clearly points to the fact that – even if I had attempted and marked something for 35th to the 37th question, even after assuming that none of the last 3 answers were correct, I would have retained my score of 46 without attracting any penalty. Skipping questions gets you a double penalty – you lose marks for not attempting these, and the overall score gets scaled down to reflect percentage of attempts. So, anyone taking the GMAT, please do not skip even a single question.

R1, R2 and R3 deadlines of US B schools - Fall 2012

2011-09-09T03:27:00.001-07:00

Have compiled R1, R2, and R3 deadlines of top US B Schools along with result notification dates.

You can access the list at http://top-b-schools.4gmat.com/US-B-Schools-deadline.shtml

New GMAT Format from 2012

2010-07-01T03:29:00.000-07:00

GMAC, the makers of the GMAT, has announced a major change to the exam coming in 2012: one of the Analytical Writing sections will be replaced by a new thirty-minute section, Integrated Reasoning.

The new section will test students on how they assimilate data from multiple sources. For instance, students will have to read passages, graphs as well as tables and spreadsheets in order to ferret out bits of information from each to answer a question. Students will be asked to analyze information, draw conclusions and discern relationships between data points, just as they must do in business school.

The Graduate Management Admission Council, the body that conducts GMAT, decided to introduce new section after surveying B-schools across the world in last three years. The overall length of the GMAT exam (three and a half hours) will not change. In conjunction with adding a new 30-minute Integrated Reasoning section, the Analytical Writing Assessment will be streamlined to include only one essay prompt instead of two.

The GMAT exam’s Verbal and Quantitative sections will not change. As a result, when the new section is introduced in June 2012, tests will be scored on the same 200–800 scale used today. Test takers will receive a separate score for the essay—as they do now—and a separate score for the new Integrated Reasoning section.

These questions are on the lines of those testeed in the data interpretation section of the exams such CAT (the entrance test to join the IIMs in India). However, the question types that are likely to appear in the GMAT seem quite different from the reasonably plain vanilla variants that you get in the CAT.

Students, who are currently preparing for the GMAT, have nothing to worry about — scores will be valid for five years. Nevertheless, the optimal strategy for test-takers will be to prepare for three to four months, and take the test before the format changes.

For more details, please visit http://www.gmac.com/gmac/TheGMAT/TheNextGenerationGMAT/NextGenGMATFAQs.htm

2011 Jan intake : Some good B Schools

2010-02-21T23:20:00.000-08:00

Programs starting in January (2011 intake)

A vast majority of the applicants target the fall intake (September); this takes the focus off the programs that have a January start. INSEAD is one of the top programs that has an intake twice a year – in September and in January. The January intake has a unique advantage – the possibility of interning with a company for two months during the summer break. This is an invaluable opportunity for career switchers and the respite from the 10-month rigorous academics is always a welcome.

European School of Management and Technology (ESMT) offers a 12 month MBA program in Germany, starting in Jan of every year. The program has corporate support from twenty five “founding” companies (such as Siemens, SAP, Allianz, Deutsche Bank, McKinsey to name a few).The class size is restricted to two digit numbers (the class of 2011 will have 40 participants) and about half the participants get placed with these founding companies.

Rotterdam School of Management (RSM) offers a similar MBA program in the Netherlands. The school has a tie-up with ING to offer loans of up to Euro 44,000 for students irrespective of their nationality. Two of the top Portuguese universities – Católica and Nova have collaborated with the MIT to offer a full-time MBA program in Lisbon. A unique feature of the program is that every student has the opportunity to spend the summer in MIT, Sloan School of Management.

R2 and R3 deadlines of US B Schools : Fall 2010

2009-12-19T03:54:00.000-08:00

Here is a quick reckoner of the deadlines and admission notification of top 20 odd US Business Schools.

Please check the dates with the university websites. We have made an attempt to make it error free as of publishing it.

Click here for top 20 US B Schools Fall 2010 R2 and R3 deadlines

Still possible to start MBA in 2010

2009-12-16T19:54:00.000-08:00

If you have missed the R1 deadlines of US B Schools and have not started your preparation for R2 deadlines of US B Schools and will still like to start your MBA in 2010, then you could look at some of the internationally reputed Business schools in Asia and Europe. Many of these schools have international student application deadlines in the months of March and April 2010.

Here is a snapshot of some of the top schools and their deadlines for the MBA program beginning in Academic year 2010.
European and Asian Business School dealines : 2010

Therefore, there is still a chance to start your MBA in 2010 even if you have not started your prep for the same to date.

Data Sufficiency : A Quick Overview

2009-11-13T21:51:00.000-08:00

GMAT Data Sufficiency

I personally love the 'Data Sufficiency' section - because it is fun to solve them ! Broadly two reasons (1) It probably may not involve as much rigorous mathematical solving and (2) Each problem is a field of landmines that the examiner has laid for the student. I have a feeling that even for the test setter, the data sufficiency section is the most fun to set and see students fall for simple traps.

If you are a cynic who wonders if any of the questions asked in GMAT / CAT will make you a better manager, the answer is a loud 'Yes' for the data sufficiency section (apart from a few others). As a manager, you will take decisions and at each stage you will have to make sure if you have all the sufficient data to take the decision. THIS is the section which puts down the basement for your managerial career.

Some things to remember when solving data sufficiency questions:

1. Never assume anything. Just Never. If they say that x is a number - do not assume that x is a natural number; do not assume that x is a whole number; do not assume that x is an integer or that x is rational. x is a number and that is that. x could be any number.

2. If it is a 'True' or 'False' question, the answer cannot be 'May be'. It can be only one of the two. 'True' or 'False'. Simple.

3. Same is the case with 'Yes' or 'No' questions. Unless you are able to say 'Yes' or 'No', one can conclude that the statement(s) is (are) insufficient to answer the question.

4. 'No' is also a valid answer. The point is whether the statement being examined is sufficient to answer the original question. 'Sufficiency' is the core issue.

5. Each of the statement may lead to different conclusions. Consider the simple question:

What is the value of x?
A. x is the an even prime number.
B. x is a prime number greater than 2 and less than 5.

Statement 'A' says that x is 2. Statement 'B' says that x is 3. You can conclude that 'Either of the statements are individually enough to answer the question' - It does not matter that they indicated different values for x.

6. Be super careful about extreme cases. If x has been defined as a whole number - make sure that your conclusion does not change for x = 0. If x has been defined as an integer - make sure that your conclusion does not change even if x is a large positive integer or a large negative integer.

7. Do not spend inordinate time solving equations loosing track of the core issue (which is 'Sufficiency'). Consider the question 'Is x a positive number?'
If statement A leads you to conclude that x = root(3 + root (3)). Should you spend time find out the actual value of x? Get back to the core of the question. 'Sufficiency' is your keyword. Is x a posive number? It could be positive or negative. You do not care as to what the exact value of x is. All you care is whether x is positive.

You can be fairly certain that there will be data sufficiency questions. The examiner is trying to test the following (amongst others): (1) Is the student exhaustive in his thought process? (2) Does the student jump to conclusions at the drop of a hat? (3) Does the student spend inordinate time in mathematical equations when all I want him / her to test is sufficiency of the statements?

All the best !

- 4GMAT Mumbai Desk

GMAT - Some useful percent to fraction conversion

2008-11-28T01:19:00.000-08:00

A set of useful percent to fractions that will save a lot of time when attempting problem solving questions in the Quant section of the GMAT test.

Percentages Equivalent Fraction

33.33% 1/3

16.66% or 16.67% 1/6

66.66% or 66.67% 2/3

6.66% or 6.67% 2/30 or 1/15

14.28% 1/7

12.5% 1/8

11.11% 1/9

9.09% 1/11

8.33% 1/12

7.14% 1/14

Let us say you have a question that states that a family spends 66.66% of its income and saves the rest. If its savings is USD 3000, how much did the family spend?

66.66% can be written as 2/3rd. So, the family spends 2/3rds of its income.
The balance that the family saves = 1 - 2/3 = 1/3rd of the income.

Savings = USD 3000 = 1/3rd the income
Hence, income = 3*3000 = USD 9000.

Trying to crack the same question keeping it in percent terms could lead to unsavory calculations.

Right time to catch 2008 deadlines of Asian and European B Schools

2007-11-04T09:16:00.000-08:00

R1 deadlines for some US B Schools for Fall 2008 admissions are already over as we are in the first week of November.

R2 deadlines for all US B schools will fall between the first week of January 2008 and the first or second week of Feb 2008. If you plan to catch Round 2 deadlines and have already taken your GMAT then, it still is comfortably possible. However, if you are yet to even start your GMAT Preparation, then it might be a little too late to catch R2 deadlines for Fall 2008 admissions of US Business schools.

However, you still have adequate time if you are planning to catch European and Asian business schools. Most of these schools have their application deadlines between March and June of 2008. So, if you are yet to even commence your GMAT preparation you still should be able to catch these deadlines and be able to start your B School education in the academic year 2008 itself.

Here is a list of some of the top European Business Schools
1. IMD Switzerland
2. INSEAD, France and Singapore
3. Judge Business School
4. Warwick
5. Rotterdam
6. SDA, Bocconi

And a list of some of the top Asian Business Schools
1. National University of Singapore, Singapore
2. NangYang Technical University, Singapore
3. Asian Institute of Management, Manila, Philippines
4. City University of Hong Kong
5. International University of Japan

R1 Deadlines of top US B Schools for Fall 08 admissions

2007-10-01T02:13:00.000-07:00

Round 1 deadlines of Top B Schools are just around the corner. Here is a list of some of those deadlines as a ready reckoner.

Stanford Graduate Business School [October 22, 2007]
Harvard Business School [October 2, 2007]
MIT Sloan Management [October 30, 2007]
Hass School of Business, UC, Berkeley [November 5, 2007]
The Fuqua School of Business, Duke Univ [November 20, 2007]
Chicago GSB, Univ of Chicago [October 17, 2007]
Univ of Michigan Business School, Ann Arbor [December 1, 2007]
Tuck School of Business at Dartmouth [October 10, 2007]
New York Univ, Stern School of Business [November 15, 2007]

Round 2 deadlines have been updated for these B Schools at R1 and R2 deadlines of US B Schools

Best wishes for those applying for R2 deadlines.

IIM Calcutta's PGPEX Final Lists out

2007-09-28T00:49:00.000-07:00

Final lists of those selected for the one year PGPEX program of IIM Calcutta is out. A total of 40 applicants have been selected from an estimated 400 plus applicants for the batch commencing on Dec 1, 2007.

1 year PGPX and PGPEX programs at IIM Ahmedabad and IIM Calcutta

2007-04-03T06:09:00.000-07:00

One of the best things to have happened to management education in India is the introduction and fast adaptation of the one year MBA / PGP programs. ISB, Hyderabad was amongst the pioneers to launch the one year program.

Subsequently, the two big daddies of Indian Management education - IIM Ahmedabad and IIM Calcutta started their own versions of 1 year MBA programs in 2006. The profile of the first batch of students at both the IIMs will be amongst the best in the world. Be it average GMAT scores (700 to 711), or average years of experience (9 + years at both the IIMs) or the sheer diversity of the industries the participants of the programs come from.

Both the IIMs promise International Immersion (the equivalent of internship) for all participants. 60 in IIM A for the first batch and 40 in IIM C for the first batch.

I met one of our (Ascent Education) students who completed his 2 year PGP program from IIM C in Feb 2007 and has offers from the elite Consults and asked him about the PGPEX program. The feedback was very good. Top recruiters including consults have evinced interest in participating in the final placements of the PGPEX program too.

For all those who have worked for quite a while (7+ years), these two programs will be one of the best bet in terms of
1. quality of education
2. value for money proposition (IIM A has increased its fees to Rs.14 lakhs, though IIM C has it still at Rs.8 lakhs. even at 14 lakhs it is quite attractive)
3. the quality of placements and the ability to reach top management posts fast.

Obviously, with all these on offer, it is not going to be an easy nut to crack. With concerted effort for 4 to 5 months one should be able to get a 700 score in the GMAT. Good undergraduate record and professional experience should add to making one's application attractive.

Gun for the IIM's Executive MBA programs. Best wishes

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