Study for GMAT or PE Modeling Tests - Help me!
Title says it all but wondering what WSO thinks I should do. I lateraled over to a leading MM a few months ago and am considering my future plans. I want to move to the buyside but also have intentions on going to b school. Would you recommend I take the GMAT and try to hit 750+ for better resume optics (and for MBA admissions obviously) or forgo that and dedicate myself solely to PE recruitment (modeling tests, networking, story prep) until on-cycle happens in the next 3-6 months? Can't do both because I'm also getting crushed in IB lol. Thanks!!
If a 750 is your guide and you’re not a natural test taker, you will need a few months on consistent studying. The test isn’t about raw intelligence, but more so about optimizing basic knowledge + strategy (re the actually test itself). In banking, you “should” pick up the knowledge you need to recruit, but must master knowledge of accounting / valuation and the ability to build quick 3 statement models with returns / sensitivities. Would also help to know a bit about developing a thesis based on return profile of model and info in CIP. If you’re working for comp in banking, this will be tough, but if you’re dedicated to moving on to the buyside, you will prioritize prep.
Unless your SAT/ACTs are really low and you need a better test score to be competitive for PE recruiting, I'd think optimal would be:
- focus on pe recruiting prep - which is NOT just modelling but also getting your narrative bullet proof, interview prep, research on firms / networking / engaging headhunters appropriately
- do on cycle PE recruiting
- study and ace GMAT during your "lame duck" period after you already have a job
And it's logical to prioritize PE recruiting over GMAT because if you make it to a good PE firm, you probably don't need the MBA unless you want it. I'm not saying that to discourage going to b school at all whatsoever - just stating that concept to help you prioritize between these two.
Thank you Charles Dickens. Would you be able to provide insight into what is considered a disqualifying SAT / ACT? I have the equivalent of a 27 ACT or an 85th percentile score. Obviously not competitive but probably not the worst the street has seen.
All looked at holistically so if you have a 4.0 engineering gpa and that's your act score, that might be OK. Or if you have some other interesting non-academic hook. But taken in isolation, yes that ACT is on the lower side and you may want to consider taking the GMAT to erase a potential weak spot if you have time.
I don't really have a hard number to guide your towards but maybe something like ~95th percentile in general.
Agree that I should consider taking the GMAT prior to on-cycle. Looks like I'm in for a ride...
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