- GMAT exam is widely accepted by a number of institutions across the globe
- The GMAT has been renamed to GMAT Focus Edition, and a couple of changes have been made in terms of the overall time limit. Plus, a new section, "Data Insights," has been added to the syllabus
- The costs of studying in top-tier B-schools could be high, and Prodigy Finance offers student loans without a cosigner and collateral
To pursue graduate-level courses in business studies, you need to have a good grasp of interpersonal skills like critical thinking and verbal and written communication. And to assess you on these grounds, many business schools rely on GMAT (Graduate Management Admission Test) test scores.
In fact, 9 out of every 10 new MBA enrollments are done based on GMAT scores. Nearly 200,000 students appear for this test every year for degrees like MBA and Masters in Management. So, knowing about the test would be very beneficial if you are aspiring to pursue an MBA from reputed universities across the globe.
In this article, we are going to cover everything about GMAT, from the recent changes in GMAT 2024 Focus Edition to its structure and scoring system.
Overview of the GMAT Exam
A big reason why GMAT is the most sought-after exam is that almost 1,900 business schools consider this exam as part of the selection criteria. Plus, the GMAT test adapts according to the candidate's level, meaning the questions will be selected based on your previous responses.
Changes in the GMAT Format: GMAT Focus Edition
On November 7, 2023, GMAC (Graduate Management Admission Council) announced that the traditional GMAT will be discontinued. They also announced some changes in the test format and renamed it as GMAT Focus Edition. Let us take a look at some of the major changes in the test format.
GMAT Focus Edition will not have any writing sections, as the Analytical Writing Assessment (AWA) has been eliminated. This means that only Quantitative Reasoning, Verbal Reasoning, and a new section called Data Insights will be part of the test. Moreover, the test duration has been reduced to 2 hours and 15 minutes.
Additionally, the test-takers can now bookmark and change answers to up to 3 questions per section. It was not allowed in the traditional GMAT. In short, GMAC has been focusing more on critical reasoning and data literacy skills for the exam.
GMAT 2024 Syllabus: Section-by-Section Breakdown (Focus Edition)
Now that we know about the recent updates in GMAT 2024 let us take a look at the syllabus and provide a section-by-section breakdown of each section.
Quantitative Reasoning (QR)
This is one of the most significant sections of the test. In this, you will have to answer 21 questions within a time frame of 45 minutes. You can expect most of the questions to be related to problem-solving abilities and analytical thinking. For instance, the questions based on Mathematical concepts, Arithmetic, and Algebra will be there. In recent updates, the authorities have made two major updates in the Quant Section, which are as follows:
- Geometry questions have been eliminated.
- Mathematical data sufficiency questions will now be replaced with real-world scenarios and asked in the data insights section.
Let's have a look at the topics to be covered under Arithmetic and Algebra.
| Arithmetic | Algebra |
|---|---|
| Arithmetic Properties Of Integers | Algebra Simplifying of Algebraic Expressions |
| Arithmetic Fractions | Algebra Equations |
| Arithmetic Decimals | Algebra Linear Equations |
| Arithmetic Real Numbers | Algebra Factoring |
| Arithmetic Ratio and Proportions | Algebra Quadratic Equations |
| Arithmetic Percentages | Algebra Exponents |
| Arithmetic Powers and Roots of Numbers | Algebra Inequalities |
| Arithmetic Descriptive Statistics | Algebra Absolute Value |
| Arithmetic Counting Methods | Algebra Functions |
| Arithmetic Discrete Probability | Algebra |
| Arithmetic Sets | Algebra |
| Arithmetic Profit and Loss | Algebra |
| Arithmetic Discount | Algebra |
Verbal Reasoning
Reasoning is yet another important aspect of this test. In the Focus Edition GMAT, verbal reasoning has two parts: reading comprehension and critical reasoning. Similar to the quant section, you will get 45 minutes for this section. However, this section has 23 questions. As per the latest update, no more questions for sentence correction will be asked in the test. Let us take a detailed overview of what topics reading comprehension and critical reasoning comprise:
| Reading Comprehension | Critical Reasoning |
|---|---|
| Reading Comprehension Main idea | Critical Reasoning Strengthen |
| Reading Comprehension Supporting idea | Critical Reasoning Weaken |
| Reading Comprehension Inference Application | Critical Reasoning Flawed |
| Reading Comprehension Logical structure | Critical Reasoning Supports |
| Reading Comprehension Style | Critical Reasoning Damages |
Data Insights Section
This is a newly introduced section in the test that aims to test your ability to analyse different types of data from multiple sources to make an informed decision. The section comprises 5 types of questions: Data Sufficiency, Multi-Source Reasoning, Table Analysis, Graphics Interpretation, and Two-Part Analysis. For this section, you would be required to evaluate real-world business scenarios. The time frame of this section is also 45 minutes for 20 questions.
GMAT 2024 - Exam Result and Scores
Wondering about exam results and score ranges? Let us discuss that as well:
There will be 64 questions in total for three sections, as discussed above (21+23+20). In this, the total score range will be between 205 to 805. In the case of each section, the score range will be between 60 and 90. All total score values end in 5. You will be required to answer these questions in 2 hours and 15 minutes (including one optional 10-minute break)
What's more important to note is that all three sections (QR, VR, DI) contribute equally to the final total score. Additionally, some B-schools may request individual section scores, too.
The candidates have a couple of privileges in answering the question. For instance, they can choose the order of answering the three sections. Additionally, they can use on-screen calculators for the Data Insights section.
Important Dates and Registration Process for GMAT 2024
The registration process for the GMAT 2024 is very easy. All you need to do is just visit the official website, mba.com, and follow 4 easy steps.
- Create an account on mba.com by filling in your basic information.
- Once you are done adding your information, click the yellow-coloured button "register."
- Provide all the necessary personal details.
- Pick your test centre and schedule an appointment. You may choose any date (based on availability); official test centres are open seven days a week.
- Pay the amount.
Here are some key considerations you must read before submitting your application.
- You can choose whether to take the exam at a test centre or online.
- If you want to take a test centre exam, a fee of $275 in India has to be paid (including 18% GST).
- The fee for the online exam is $300.
- The rescheduling fee for the GMAT Focus Edition is $165, with an additional cancellation fee based on the notice period.
- Rescheduling and cancellations are allowed up to 24 hours before the scheduled appointment start time.
- Results within 3-5 days of completing the exam, but may take up to 20 days in some situations.
Preparing for the GMAT 2024: Essential Tips
Want to get started with your preparation right away? Good luck, but don't forget to note some important tips for your exam.
1. Understand the Exam Format
Gain a complete understanding of the GMAT 2024 exam pattern and format. Specifically, plan according to the exam structure, question types, and time constraints. In addition to this, make sure you check if your preferred B-School needs a specific sectional score.
2. Identify your Strengths and Weaknesses
Note down your areas of strength and weakness among the three sections. Prioritise which of these sections you need major improvements in and plan accordingly.
3. Strengthen your Fundamentals
Work on strengthening your fundamentals in mathematics and English to build a solid groundwork for advanced study. This could lead to better results.
4. Practise Regularly
Last but not least, follow reliable study material like official GMAT guides or question banks to gain a better understanding of difficulty levels. Always remember that regular practice is the key to success.
Conclusion
Summing up, acing the GMAT 2024 Focus Edition is an important step towards securing your place at a top B-school. As per the information provided in this post, you will be able to get a better understanding of the exam format, content, and effective preparation strategies. Apart from sectional cutoffs, you must also recognise that costs for studying in a top-tier business school like Harvard Business School can be high.
However, the cost of an MBA program overseas shouldn't hinder your aspirations. Therefore, Prodigy Finance offers international student loans specifically designed for ambitious individuals like you. The company has partnered with many top business schools, including Harvard Business School, Stanford Graduate School of Business, London Business School, etc. And the best part? No cosigner or collateral is required for your student loan.
FAQs
Can I take the GMAT more than once to get a competitive score?
Yes, you can. However, you have to wait for a 16-day waiting period before you can re-appear for your exam. The waiting period is the same across both the test formats (online or offline).
What is the average GMAT score required for top MBA programs in the USA?
While GMAT remains the primary entrance exam to MBA programs, understand that the top B-schools in the USA don't evaluate your profile solely on the basis of scores. A high score in GMAT may or may not guarantee you get in. However, a 700+ score could be considered a safe score.
Which is better, the GMAT or the GRE?
It all boils down to the course you want to take. Though both of these exams can get you into graduate-level B-schools, the GRE is also accepted for business, engineering, and the sciences. On the other hand, GMAT is specifically conducted in business schools.
Can I use calculators during the GMAT exam?
Absolutely. However, you are only allowed to use on-screen calculators for the Data Insights section.
How long should I study for the GMAT 2024?
Based on your strengths and weaknesses, you may make a personalised study plan. Generally, a 3 to 6-month study plan can be sufficient if followed faithfully.