Fulfilling Your New Year's GMAT Resolutions

Now that the calendar has turned to 2018, millions of folks have set (and are hopefully still following!) their New Year’s resolutions. For most, these involve some measure of personal improvement – eat healthier, exercise more, boost savings, or maybe improve career prospects. Many looking to further their career will potentially consider building upon their scholastic resume with an MBA. Of course, one of the early steps on the road to an MBA is taking the GMAT and getting a score that will be enticing for your target schools, but with so much to do it can be challenging to decide how to start.

Step 1: Set a Goal

The first step to any resolution is, of course, identifying a goal. Having a target to strive towards allows you to track progress and feel pride as you make the steady march towards your ultimate achievement. However, everyone’s goal should be different. It must be based on your personal goals and abilities, not just something you heard about how ‘everyone taking the GMAT needs a 700’. Identify your target colleges to determine their admissions requirements and see realistically if you are capable of meeting those benchmarks based on your resume, GPA, and of course your potential GMAT score.

For instance, just in MyGuru’s hometown of Chicago, there are numerous business schools from which to choose. These include top five B-schools such as Kellogg School of Management at Northwestern University and University of Chicago Booth School of Business which boast an average GMAT score in the 730s to University of Illinois at Chicago Liautaud School of Business and Illinois Institute of Technology Stuart School of Business which accept scores in the 500s, with even more schools in Illinois and worldwide that will fall somewhere in between. Wherever you want to go to business school, make sure to do some research (mba.com is a great place to start) to determine what your GMAT goal should be to earn strong consideration from admissions officers at your preferred MBA destinations.

Step 2: Find an Instructor and Materials

Don’t worry, this isn’t a pitch where I tell you that everyone needs a tutor. However, everyone does need an expert source for instruction and the best text for that, and practice questions, is going to be the Official Guide to the GMAT. If you prefer lugging around heavy things, get the paperback version. If not, get the e-book which will lighten your load and encourage best practices for scratch work since you’ll be working from a screen – just like you will on test day. If you need additional practice problems, you can also get the Official Guide GMAT Bundle including Verbal and Quantitative workbooks.

Now, if you think you would benefit from additional help beyond reading the limited instructional material provided in the Official Guide, but want to try studying on your own to start there are a ton of additional textbooks from various prep companies or worksheets from sites such as Math-Aids. You can also find numerous online pre-recorded GMAT self-study materials from a variety of sources. If you think you would like direct assistance from a GMAT expert, consider online or in-person tutoring and online or in-person classroom instruction. Classroom instruction is going to be the most cost-effective option, but the difference between a class and one-on-one tutoring is similar to the difference between taking a yoga class and training with a yogi. The former will teach you the broad strokes and provide you with a predetermined set of skills, while the latter will tailor each lesson specifically for you and provide exactly the skills you need to excel at the task. Of course, MyGuru has a team of expert GMAT instructors around the country available for in-person or online instruction and we would be happy to discuss your specific prep needs anytime.

Step 3: Set a Schedule

Prepping for the GMAT is going to be more akin to training for a marathon than studying for a test. In short, you cannot cram for a marathon, so don’t try it for the GMAT! Instead, try to fit in daily drills and review for no more than an hour or two at a time. Since half of all improvement is reviewing mistakes, a frequently recommended approach is doing practice problems for an hour or so before work and then reviewing those questions for approximately the same amount of time afterwards. This will split up your training and give a consistency to the approach which will keep you fresh every time you study.

You will also need to set aside time for full timed practice exams every 3-4 weeks on days you don’t work. Yes, this will likely mean sacrificing some weekends. This is a necessary sacrifice, because taking a full practice exam after a long day at the office is rarely a fun or, more importantly, focused experience. This can lead to lackluster performances and frustration when you see scores that are not truly representative of your skills. Ultimately, until scoring in the 700s each test taker should be more concerned with eliminating simple errors of calculation or focus above anything else. So, taking your practice tests in a serene environment and in top mental condition is imperative.

Step 4: Set a Deadline

Now, this does not necessarily mean sign up for a test immediately. Of course, if you have admissions deadlines you want to hit, those will take precedence over all other considerations. Still, even if you’re waiting until the next application cycle you will want to set a rough deadline for when you want to take the exam. Think of it this way, you wouldn’t prepare for a race without an end, so you won’t want to begin prepping for the GMAT without a deadline.

A good rule of thumb for setting a GMAT deadline is that you’ll want at least eight weeks to prep, but probably not more than 24. The good news is, that you will take practice exams during your prep and you can always shift the exam up or back depending on how your practice scores are faring compared to your target goal. About halfway through your prep be prepared to schedule the exam to ensure that you can get a seat relatively soon after finishing your prep. If you are taking a GMAT class or working with a tutor, best practice is to take the exam within two weeks of your final lesson to avoid having your skills decline while waiting.

Follow these steps and you’ll be well on your way to fulfilling this year’s GMAT New Year’s Resolution!

About the Author: Stefan Maisnier is the Director of Online Tutoring at MyGuru, and sometimes contemplates the lagging Verbal scores of business school applicants while gazing wistfully at his own Masters of Science in Journalism diploma from Northwestern University.