Why GMAT Exam is Required? Find Benefits of GMAT Exam in 2022 Image
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Why GMAT Exam is Required? Find Benefits of GMAT Exam in 2022

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Yocket Editorial Team
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GMAT is a standardised, computer-adaptive, MCQ-type test. The popularity of the exam has increased over the years because the majority of international universities require GMAT scores for their MBA/MIM programs.

GMAC has designed the test to evaluate a test taker's aptitude in English and mathematics. The four distinct sections of the test are analytical writing, verbal reasoning, quantitative reasoning and integrated reasoning. A good GMAT score will boost your application and leave a positive impression on the admission committee. So, to know how important is GMAT, we have stated below all the necessary information about the GMAT exam.

Table Of Content

Why GMAT Exam Is Required for MBA Application?

There are countless benefits of GMAT exam. To know those benefits we have listed down some of the pointers that students can acknowledge and plan their MBA from top universities abroad.

1.  Highlights Your Skills

Critical thinking and analysing competency are some of the main skills that are tested through GMAT exam. Other skills such as mathematical and english proficiency are also required to complete an MBA degree successfully. Majority of the business schools measure student’s skills with the help of their GMAT scores before

2.  Wide Acceptance

One of the most important GMAT benefits is that its scores are accepted by more than 2000 business schools across the globe. Additionally, more than 7000 MBA and MIM programs require a GMAT score for admission. Thus, taking the GMAT exam is the safest and the most reliable way of securing admission to an MBA program.

3.  Scholarships Availability

Pursuing MBA programs in universities abroad can be a daunting task for international students. By securing a good GMAT score, they can avail GMAT scholarships and reduce the cost of attendance to their dream university. Impress the scholarship committee with an outstanding GMAT score and avoid taking a student loan.

Suggested: Know About Which Countries Accept GMAT in 2022?

Value of GMAT for Corporate Recruiters & Alternative Careers

Taking the GMAT test and achieving a good score will help you define your career trajectory. Since it is a standardised test, a good GMAT score will give you an edge over others after graduation. The recruiting board of top companies review your job application on the basis of your GMAT scores  and results along with your MBA degree..

Your quantitative and qualitative skills assessed in the GMAT exam will help you to step into the corporate world. To give an overview we have listed some of the highest paying international companies and the average salary offered.

Company Name

Average Salary Per Annum

Amazon

150,000 USD

Apple

160,000 USD

Boston Consulting Group,

156,000 USD

JP Morgan

150,000 USD

Google

227,000 USD

Deloitte

135,000 USD

Goldman Sachs

130,000 USD

Morgan Stanley

165,000 USD

Alternative Careers After GMAT for International Students

MBA is a very specific career-oriented degree program. One of the primary GMAT advantages is that the scope of job opportunities after an MBA degree is endless. In fact, after completing an MBA, the majority of degree holders switch over from their old careers to new ones. Some of the highest paying job fields that seek MBA graduates with high GMAT scores are:

Job Fields

Average Salary Per Annum

Marketing

99,000 - 157,000 USD

Finance

80,000 - 123,000 USD

International Business

79,000 - 148,000 USD

Human Resources

60,000 - 96,000 USD

Information Technology

78,000 - 164,000 USD

Furthermore, the other benefits of GMAT is that you can easily switch into other career options. The following job options are:

Entrepreneur

68,000 to 72,000 USD/ per year

Freelance Consultant

86,000 USD/ per year

Educator

100,000 USD/ per year

Technical Writer

57,960 to 74,650 USD per year

Suggested: 6 Best MBA Colleges Abroad Without GMAT in 2022

Now that you know why is GMAT important for MBA, you must ensure that you need at least 3 to 6 months’ time for comprehensive exam preparation. For more information on colleges accepting GMAT scores, connect with our Yocket Professional and get further guidance for a successful admission.

Frequently Asked Questions on the Importance of GMAT Exam

Ques. How to register for GMAT?

Ans. Create your account on the www.mba.com website and click on the ‘Register for the GMAT’ option. Now select your test date, time, and location and book your GMAT appointment.

Ques. What is the registration fee for GMAT?

Ans. GMAC charges 250 USD (approximately INR 19574) as a registration fee for the GMAT exam.

Ques. What is the duration of the GMAT exam?

Ans. Including the breaks, the total duration of the GMAT exam is about 3.5 hours.

Ques. How is the GMAT scored?

Ans. GMAT score is calculated on a scale of 200 to 800 with the combination of your verbal and quant scores.

Ques. What is the format of the GMAT exam?

Ans. The GMAT exam consists of 4 sections which are scored differently. The exam format is as follows -

Ques. Why GMAT exam is required?

Ans. The GMAT as an examination has been a verified standard of testing. Business schools use the GMAT as one of the standards to assess a student. Evaluators use the score as a pointer to justify how capable a student is of handling convinced scenarios.

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