MBA Application Strategy Basics And Costs of “Confusion”

WHAT GOES WRONG – THE REACTIVE AND “SCATTERED” APPROACH

1. Many aspirants tend to contemplate and research a wide variety of programs BEFORE taking the GMAT.
2. Thus precious GMAT preparation time is lost in the earlier part of the year
3. And, unless you are among the top 5% global academic cadre, reaching 700+ in the GMAT does take 5-6 months of highly organized preparation (especially for working professionals)
4. By the middle of the year, pressure builds up – leaving less and less time (along with work) to ace the GMAT
5. “Quick-fixes” are applied and in the compressed time range, the candidates, on an average miss their true potential by an average 40-50 points.
6. With less clarity on score, we send additional score reports and spend more too!
7. The above is a relatively “no loss” situation; the greater loss is the reduced probability of making it to your “Dream School” and in a “Dream Budget”

WHAT CAN BE DONE – THE EFFICIENT STRATEGY 

1. If you are very keen on gaining admission to a Top Tier international MBA program, FOCUSING on the GMAT AS FIRST PRIORITY is a must (Some executive MBA programs could be the only exception)
2. Invest 6 months of gradual, fundamentals-based preparation for the GMAT
3. Be convinced that you have done your best and when your GMAT practice scores reach the “maxima”
   • Book a 15 day forward GMAT test date
   • Ensure that you take an off from work atleast a week before the actual date
4. With your systematic approach, you will now have some idea about the estimated score (with a variation of 5 percent?)
5. With such a score, you can easily narrow down on 5 MBA programs in the portfolio
6. Finally with a GMAT score in hand, you can plan the next step – that is
   • If you are on target, planning out your application is the next step OR
   • If you are below the mark, a second attempt or changing you application set – depending on your standards and etc.

 MBA APPLICATION COSTS  (TOEFL applies to international applicants and may be waived)

1. GMAT/GRE score reporting per additional program (free for 5 with GMAT) – US$25.00 (www.mba.com)
2. TOEFL score reporting per additional program (free for 5 with GMAT) – US$17.00 (www.toefl.org)
3. TOEFL Exam Fees – US$165.00
4. GMAT Exam Fees – US$250.00