LaBalle Admissions

What is the GMAT? The GMAT is administered by the Graduate Management Admission Council and is a test of general skills: quantitative (math), verbal (grammar, reading, logic), integrative reasoning, and analytical writing. The test uses a high level of English which is comparable to the level you will need to pursue a top MBA. Your final score will range from 200 to 800 and there are individual scores for quantitative, verbal, integrative reasoning and analytical writing. Do I need the GMAT? Yes you do! The world’s top MBA and EMBA programs require the GMAT. Furthermore, several scholarships such as Fulbright or La Caixa ask for the GMAT in order to apply. Finally, top recruiters of MBA programs such as McKinsey or Boston Consulting Group will request your GMAT scores. So, in general, all MBA applicants do indeed need the GMAT, though certain schools may waive it or offer their own test. Check on the school’s website to be sure. What score do I need? Many people think that 700 is the magic number to open the door to any top MBA. However, it is not that simple. It all depends on the rest of your profile and the rest of the competition. Aim for the highest score you can get and then compare it to the “80th percentile” at each school, that is the score range that 80% of the admitted students have, you can find it published on each school’s websites. If you are on the low end, you are at a disadvantage; if you are on the high end, you are better off—nothing is guaranteed. Schools do not publish a minimum score because they prefer to evaluate your application as a whole: CV/résumé, essays, undergraduate transcripts and GMAT together. This holistic approach is why I have seen a client enter a top-7 program with a 660 and another get rejected for a 690! How do I prepare for the GMAT? You have three options: 1) You can prepare on your own using resources such as The Official GMAT Guide, Khan Academy (www.khanacademy.org) or other 3rd-party materials. 2) You can attend a GMAT course at an academy in your area*. Or, 3) Take one of the many online courses. *If you are in Madrid, you are in luck, one of the top teachers in Europe is based here, Kevin Armstrong who runs GMATClasses (http://gmatclasses.es.) How do I register for the GMAT? You register for the GMAT through www.mba.com. When you register you will be able to choose the city where you would like to be tested and you can pay the registration fee. When should I register for the GMAT? ASAP! Testing dates in major cities fill up quickly. Register as early as possible or you may end up flying across the country to take the test. Also, if you do not get the score you need and have to retake it, you must wait 15 days. Therefore, if there are doubts about your score, schedule your first date with enough time to let you retake the exam if needed (ie. five to six months before the application deadline). How often should I take the GMAT? Ideally you take it once and get the score you need, but in reality, most applicants take it twice and many take it three times. The rules are that you can retake the GMAT up to 5 times in any 12-month period, but no more than once in any 16-day period. However, if you take the test more than 3 times, you may have to explain to Admissions why you took it so many times.

Do you dream of an MBA at Harvard, Wharton, Columbia or INSEAD? Here is a list of the top ten steps for preparing a successful MBA Application to your dream school. 1. Start Early! Begin the application as soon as possible. Ideally, you need 1.5 years to prepare, however some very hard-working applicants can complete the process in six months. 2. Why an MBA? An MBA application is a very self-reflective process. Start thinking over your career, your experiences, your strengths and weaknesses, your goals and dreams. How does an MBA fit into those? Are your goals reachable? How? If you understand these questions from the beginning, it will be much easier to write your essays later. 3. GMAT or GRE. A good GMAT (www.mba.com) is required for all top MBA programs. Though there are no minimum GMATs, 660 is the lowest most top MBA programs will accept. You can only take the exam once every 16 days, so schedule your first GMAT early enough to give yourself time to retake it if necessary (most applicants take it 2-3 times). For more about the GMAT, check out “All about the GMAT”. Most business schools will also accept the GRE (https://www.ets.org/gre/), the Graduate Record Exam which is the standard exam choice for masters’ degrees that are not business-related. 4. English Exam If you did not go to an English-speaking university, you must take either the TOEFL (http://www.ets.org/toefl) or the IELTS (https://www.ielts.org/). Do not assume that your English is high enough for a good score. You should prepare, especially for the Speaking sections. 100 is the standard minimum for most US schools but Harvard asks for 109. Most European schools ask for 105. 5. Transcripts As early as you can, request your official transcripts from all universities that you attended. If they are not in English, you will have to translate them using a sworn translator from your home country. Review the transcript policies for each school, while most request a scanned copy, some may want actual paper documents. If you attended university outside of the US, some smaller American business schools also request an external evaluation of your transcripts from a service such as WES (http://www.wes.org/). 6. Letters of Recommendation (LORs) Choose professional recommenders that know you well such as your direct supervisor. Do not choose the CEO of some famous company just because your father golfs with him…that is a sure way to get dinged. Schools want recommenders who really know you and your professional abilities and potential. And since your recommenders are busy people, the sooner you ask them, the better. 7. Research Schools & Find your Fit Don’t just rely on rankings and reputation, learn as much about the top programs as you can. Attend seminars, MBA fairs, talk to students and alumni, and visit the school if possible. Review the teaching methods, specialties, publications, and faculty. Will this program help you reach your goals? What does it offer that other schools don’t? What is the school culture like? And the surrounding community? Ask yourself, how will I fit in here? 8. Choose Schools Select 4 to 6 first choice schools and 2 to 3 second choice schools. The past few years has seen an increase in MBA applications and an increase in the quality of applicants. That does not seem to be slowing down. To ensure your acceptance at a top school, expand your odds by applying to several. Then, when you have your final list, order them according to which one you will apply to first, second, and so on. This may be influenced by deadline dates and difficulty of the questions. 9. Essays Gather the essays questions from your 1st school and brainstorm answers. Don’t worry about word limits, just find the best stories and examples from your life to answer the questions and also give insight into what makes you stand out from all the other applicants. From this rough draft, you can create the first version of your essays. Expect between six and ten versions until you arrive at a perfect essay. 10. Application Do not leave the online application, the “data-form” until the last minute. Many data-forms are filled with additional “mini-essays” asking for details about your career, extra-curricular activities, and more. Also, keep in mind that when the deadlines arrive, the servers even at the biggest business school can start to run very slow; try to submit your application at least a few days before the deadline to avoid this.