When / if to take GMAT
Hey guys - AN1 here who was fortunate to place at a MF with a strict 2yr program and strong placement to H/S. Understand its a ways away, but have started to think about what I would like to do after the associate experience. I have a good understanding of the pros / cons of the MBA, but I am still uncertain if I 100% want to go. Went to non-prestigious undergrad so it may have a little more weight on that front. Regardless, I don't want to be in a position where I am getting crushed in yr 1 of the associate program and I find myself under pressure to get certain score on GMAT in a rushed timeframe. My understanding is that you need 730+ to get into H/S, which is no cake walk without sufficient time put in. I have a decent amount of time as an analyst right now (attributing this a lot to lack of M&A activity with market volatility). My question is - do I start prepping for the GMAT now with the understanding that the M&A market could pick up (+ 2nd years leaving), or should I wait until the back half of my 2nd year where things typically slow down and I will have that little break in between PE. I am a little hesitant to start now as I fear M&A could pick up at any moment + I want to focus on getting the best ranking possible + I want to continue learning as much as possible. On the other hand, I feel like the GMAT is super important and starting early + getting the best score is much more beneficial to my career than than getting a slightly higher bucket / better deal reps.
There's no downside to prepping now if you have extra time. If you decide not to take it, the material will still be familiar in a year or two and not learning for the first time.
Generally I'd say spend time now if you have it getting some prep done, understanding your baseline/what areas you need to focus on most, and taking the test if you have a high enough baseline. If market picks up and you don't take it now, still valuable to learn the concepts and the way they word questions so they're not new material down the road.
Thank you! Much appreciated. Did you take the GMAT / have any advice on prep?
Look into target test prep. Expensivebut best on market
I'd recommend doing a mock of the GRE / GMAT first to see which test you suit better given you'd already have a top profile. I did the same and my GRE score was much higher and ended up getting a 334 in about 5/6 weeks of prep. If your set on the GMAT, the time to revise is generally longer probably around 3 months of solid revision for a top score.
Thank you! Does H/S view the GMAT / GRE indifferently?
Allegedly yes but imo a top 1% in GMAT > top 1% in GRE. With that said both are still top 1% in this example and both would get looked at so focus on whichever you’re more likely to maximise
No but I think they ask for another essay if you did gmat since they got rig of the writing section.
As others have mentioned, there is no real downside to preparing early and chipping away at concepts other than losing time that could be spent doing other more fun activities and hobbies. I agree getting 730+ is not easy and will take some time to prep if you are naturally not a good test taker. I struggled with the SAT/ACT so the GMAT was not fun to prep and take either. Note that the GMAT has changed and scores now end with a 5 if they are on the new exam so you will need to convert the scores by percentiles to figure out what the new 730+ is.
I would take a mock test now to figure out what your deficiencies are. If your deficiency is on the Quant side then you have a couple of options. Another poster mentioned but the GRE is an alternate test you could take and it's still approved by all MBA programs. I don't think there is a major difference in your application if you take the GMAT vs GRE - if you check H/S/W for their candidate profiles you will see it's about a 60/40 split between GMAT/GRE so I don't think it's meaningful enough to force you to have to take the GMAT. I think the GMAT sway is due to it being the more well known exam for applying to get an MBA instead of schools actually preferencing GMAT instead of GRE. Back to the point earlier, the GRE is considered easier on the Quant side and harder on the Verbal so if you aren't doing well on the GMAT Quant you may want to consider the GRE Quant since it'll be easier. The other option is you prep for the GMAT Quant over several months which in your situation since you have lead time you could prep heavily on the GMAT Quant to get up to a level that is acceptable.
If you turn out to score well on the Quant side and your issue is Verbal then I think this is a better situation. Verbal will naturally improve as you continue to work in investment banking. Assuming you are busy on the job, you'll end up having to read a bunch of research and reports to do the job and your reading comprehension will naturally improve through work. Obviously it'll take a little proactiveness to actively read on the job to improve your Verbal but at least you are killing two birds with one stone in this approach. Quant is hard to train on the job since you will use Excel to calculate all your formulas and the Quant questions are far more complex than anything you will do on the job honestly. I would say I spend most of my time on the job with "financial-heavy" deliverables and there is no correlation between my day-to-day and the questions they ask on the Quant section.
Super helpful and appreciate the in depth response. Would you be able to dm me?
Super helpful and appreciate the in depth response. Can you pm me?
For test prep having issues in quant is considered better because quant is easier to train.
Would advise against the MBA, only pursue if you cannot directly move up in the industry, even then the time you spend studying for the GMAT could be much better spent just getting better at your job, finding other career paths you do like, or landing a better fund at the end of your 2 yrs. MBAs are kind of clueless, and BSchool programs are underwhelming.
Completely get those points and general cons of mba. What are your thoughts on taking gmat for the optionality to apply for mba if lateral market isn’t hot? Seems like most associates in this program have gone the mba route
Do it before you start. That’s what most people do. Study for a month or so and then take it. If you don’t hit 730 then you can retake but no need to go super hard.
Autem nesciunt alias beatae culpa consectetur ex et voluptatem. Officia laudantium maiores fugiat cupiditate velit asperiores veritatis dignissimos. Sed ipsum placeat enim iusto quia itaque animi.
Et aut et consequuntur est id repudiandae. Ut et culpa cum vero dolorum unde minima. Alias illo perspiciatis aut non ut eos blanditiis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...