GMAT as a Returning Students
Posted on
06
Jan 2022

How To Study For The GMAT As A Returning Student

Been a while since you attended university? In regular circumstances, the GMAT can be a daunting undertaking. But the thought of taking the GMAT as a returning student – a decade or so after university – can be downright frightening.  We here at Apex work often with clients who have spent years outside of an academic setting. Our experts have compiled tips and tricks for returning students to make sure they are on the studying path of ‘least resistance’. Take a look at our 5 suggestions to make your return to high-caliber studying as easy and productive as possible. 

1. Take a GMAT practice test

This may sound straightforward, but we cannot emphasize enough how important it is that you take a practice test before you begin studying for the GMAT. This test gives you a baseline understanding of where your strengths and where your weaknesses lie. Though you may use math skills on a daily basis, your quantitative knowledge – as it pertains to test taking – is of a different ilk. By taking a practice test right out of the gate, you can be certain to accurately assess your current skills level and knowledge. From there, you can build your GMAT study schedule and timeline and figure out which parts of the GMAT deserve the majority of your dedication. 

2. Find the school and score that suits you

What are your goals? It may sound like a perfectly simple question, but unpacking the answer could take time. It is important that you are honest with yourself as to what your goals are and if they are achievable. Achievable being the key term. A mere desire to attend a top B-school and earn a GMAT score of 770+ is a difficult challenge, especially if your time out of school has been full of non-business-related opportunities. Perhaps your goal is simply to earn an MBA, and your dream isn’t to attend Harvard or INSEAD. Decide on which schools you want to attend and the GMAT score needed for admission. Our advice is to find the average GMAT score of the most recently accepted class and aim for a score 10+ points over the average. 

3. Get a consistent schedule

You are no doubt busy. Working full-time, having a family, living a 9-5 life for a decade or so can truly make you forget the rigors of school. Wanting to earn an MBA will throw you back into the world of late-night studying and early morning cramming. The GMAT is your first step into that world. So be sure to create a schedule which works with your timeline and personal life. We have created a 3-month timeline template which you can adjust to fit your personal needs. Once you have created a schedule, be sure to Stick. To. It. This may sound like a ‘no-brainer’ but we find our clients have a difficult time with this. We get it, your personal life is always changing, but your GMAT journey is a short – though intense – one. If your goal is to earn an MBA, the GMAT is a necessary stepping stone on that journey. 

4. Learn the GMAT basics

So you have taken a practice test, have decided on which school(s) you wish to attend, and come up with a consistent schedule which works for you. From here, you should unwrap the basics of the GMAT. Become comfortable with the layout of the test, and the different types of questions you will be confronted with. But the ‘basics’ go beyond a basic understanding of the test structure. You also need to get comfortable with skills you learned during high school, yes, that’s right…HIGHSCHOOL. The quantitative, qualitative, and analytical skills learned during high school play a massive role in your success on the GMAT. While this may sound astounding, remember how much you have grown intellectually since your time in high school. The skills you gained have just developed and grown since those years, you may just have to unlock your potential. 

5. Utilize the proper resources and Find Help! 

Not all GMAT prep books are made the same – nor are all GMAT tutors. You need to look on the market and see which books are structured best for you. With so many on the market, it might be difficult to discern which are best for you. We suggest looking for books which offer numerous solution paths to the same question. This gives you the chance to find the strategies which work for you and your skillset. Additionally, private GMAT tutors are ideal for students who are taking the GMAT as a returning student. Our Apex tutors are professionals in working with our client’s strengths and weaknesses. We also have a unique way of teaching the exam where we show our clients how to consider testing questions from a tester-maker’s point of view, not a test-taker.  

6. Be proud of yourself! 

If you have decided to return to school and earn an MBA after years out of academics, you should be incredibly proud of yourself. Such a decision is not an easy one to make, and yet your commitment to achieving your goals is inspiring. During your GMAT journey, remember to stick with a structured schedule and find help if you need it. Most people don’t go down the GMAT journey alone, and neither should you! 

 

If you are considering taking the GMAT as a returning student and are interested in getting help on the GMAT, we offer 30-minute complimentary consultation calls with one of our 770+ GMAT scoring instructors. You can learn more about our program by visiting www.apexgmat.com

 

Contributor: Dana Coggio

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Online MBA
Posted on
16
Dec 2021

The Top Online MBA Programs’ Acceptance Rates, Tuition, And More

As the world around us continues to change, the virtual world continues to take up a larger portion of our lives. This is no less true with education. Sometimes earning a world-class education doesn’t always mean moving to a new city or quitting your current job. Rather, for working professionals or busy parents, attending an online MBA program is the best way to handle your education with a busy schedule. 

If you are keen on earning an MBA but are too established in a career or family life to move states or countries, then an online MBA degree can be the perfect solution. There are top MBA programs offered by leading business schools which make sure that their students receive a top-notch education from anywhere in the world! 

Top Online MBA Programs 

We have listed some of the Financial Times 2021 top-eight online MBA programs around the globe to help you on your journey to find the perfect MBA program. 

1. Warwick Business School
2. IE Business School
3. Imperial College Business School
4. University of North Carolina: Kenan-Flager

5. Indiana University: Kelley
6. University of Florida: Warrington
7. Durham University Business School
8. Politecnico di Milano School of Management

Warwick Business School 

Warwick Business School’s Warwick Distance Learning MBA program is ranked #1 by Financial Times in 2021. The cost of the program is £33,250 and lasts a total of 2 years. Each year there is a total intake of 1,185 new students, 28% female and 72% male with ages ranging from 25-58. The acceptance rate for the program is 45%. Successful applicants to the program exhibit strategic thinking skills, creative problem solving, drive, and leadership within their application. The majority of applicants have already had years of professional experience under their belt. 

IE Business School 

IE Business School’s Global Online MBA program is ranked second by the Financial Times in 2021. The program concentrations range from economics to strategy and technology. The cost of the program is €51,200 and the program lasts 17-24 months. Each year the program accepts around 80 students and has an acceptance rate of 40%. The average GMAT score of successful applicants is 685 with an average undergraduate GPA of 3.4. 

Imperial College Business School 

The Imperial College Business School’s Global Online MBA program is ranked 3rd by the Financial Time’s 2021 Online MBA rankings. The global online MBA program is two-years in length and costs a total of £37,600. The total enrollment for the program is 283 and the program consists of 30% female and 70% male students. The acceptance rate for the program is about 66%. The GMAT is not required for acceptance, however, applicants are expected to have a minimum of 3 years of professional experience before applying. 

University of North Carolina: Kenan Flager

[email protected] is University of North Carolina: Kenan Flager’s online MBA program. The program utilizes blended learning in its teaching and has concentrations ranging from Analytics to Entrepreneurship & Innovation. The total cost of the program is $125,589 and the program length ranges from 18-36 months. Enrollment for the program is about 870 students and the acceptance rate is 55.79%. The average GMAT score for accepted applicants is 700 with the average starting salary of graduates from the program making upwards of $159,000. 

Indiana University: Kelley

The Kelley Direct Online MBA program is offered by Indiana University: Kelley Business School. The cost of the program is $78,246 and lasts between 24 and 48 months. The program has a 15% international and 8% US minority composition. Total enrollment to the program is 1,438 and has an acceptance rate of 35.65%. The average GMAT score is 670, with the average undergraduate GPA being 3.34. 

University of Florida: Warrington

The University of Florida: Warrington’s online MBA program is an online-only program. The program costs $49,204 and lasts from 12-23 months. The total enrollment for the program is 530 and is 40% females and 60% males with the average age of students being 30 years. The acceptance rate for the program is 61.26%. The average GMAT score of accepted applicants is 580. Students may choose between submitting a GMAT or GRE score. 

Durham University Business School

Durham University Business School offers a 2-year part-time Online MBA program. There are 5 core modules and offers students three strategic pathways: Entrepreneurship, Consultancy, and Technology. Students are able to personalize their program to fulfill their career goals. The cost of the program is £15,000 a year. Applicants do not need to submit a GMAT score to be considered for admissions. 

Politecnico di Milano School of Management

Politecnico di Milano School of Management offers an International Flex Executive MBA. The program lasts 2 years and the tuition fee is €37,000. The learning is offered online with 2 face-to-face weeks with an additional 1 full week. Applicants are not required to submit a GMAT score to be considered for admissions. However, applicants are might be required to prepare for a motivational interview and take a written test before admissions. This is to uphold their rigorous selection process and maintain a diverse and academically driven cohort. 

 

Whether you are looking for an online MBA program or an in-person, deciding to attend business school is a wonderful step for your professional future. We here at Apex offer support for future business school students who are looking to earn admission to the best school possible. If you are looking to attend a top-tier MBA program, our admissions consultants and GMAT tutors are here to help! Schedule a 30-minute complimentary consultation call with one of our top-scoring instructors to learn how we can help you! 


Contributor:
Dana Coggio

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The Benefits Of Online GMAT Tutors
Posted on
02
Nov 2021

The Benefits Of Online GMAT Tutors

By: ApexGMAT
Date: October 26, 2021

So you have decided that you want to attend a great MBA program and now you just have to get over the hurdle that is the GMAT. At this point you will have a few choices to make including: when you want to take the test, your score goal, the best MBA program for you, your preparation timeline, and finally, the preparation method. There are a few ways that you can prepare for the GMAT, self-study, group study, classes, in-person tutor, or a GMAT tutor online. In this article, we are going to review why online tutoring is just as effective and maybe even more effective than in-person tutoring. If you are considering working with an online GMAT tutor, check out some of the beneficial sides of this way of learning. 

The reason behind this decision can vary: accessibility, wanting a tutor from a different country, saving time, etc. 

1. GMAT Prep from the Comfort of Your Home

One of the biggest assets of having an online GMAT tutor is that you can do it from the comfort of your home. All you need is a good internet connection, a computer, and a quiet room. This will allow you to save commuting time and enjoy learning in a familiar environment. Make sure that you establish a constant study place in your favorite room or spot in the house. With this, whenever you are in that area you can get in the mood for studying and have your study area just for yourself. If you need a change of scenery, one of your favorite local cafes is also a great place to have a lesson. For many students, this has made the GMAT prep period much more comfortable and convenient. 

2. Efficient Resource Sharing

Thanks to the highly developed technology and various applications it takes just a couple of seconds to share a large number of articles, books, slides, practice GMAT questions, and many more. From Google Drive to Dropbox, all of your GMAT materials are a click away. This allows you to have everything in one place and well organized as well as the ability to access these files anywhere. Spend 10 minutes studying on the train ride home or listening to some videos while on a walk or jog, the possibilities and opportunities to study are endless. 

3. Feedback

To be able to know how you are developing during your GMAT prep period it is important to get and also give feedback to your tutor. With an online GMAT tutor, this can happen through a video call, an email, online massaging, etc. Besides the convenient platforms, it is also important to highlight that the feedback can take different forms: from verbal, to written, to constructive criticism.

In comparison with in-person feedback, online feedback is much quicker – you don’t have to wait for your next session to meet up and you can get your feedback in front of you within seconds!  

4. No Social Pressure

Nowadays a lot of people struggle with social anxiety and thus having an in-person GMAT tutor can be a trigger. Having a tutor physically nearby, watching you solve your GMAT questions can be nerve-racking and no one wants additional pressure while preparing for their GMAT exam. However, with your online GMAT tutor being on the other side of the screen you can feel more confident while focusing on the tasks in front of you.

5. Online Tutoring during a Global Pandemic

Since the global pandemic began our lives have been redefined and restructured in different ways. This also includes the way in which we learn and acquire new skills. Online classes have become the norm in the educational industry and throughout other relevant fields. Preparing for your GMAT exam is no different. This is why online tutors are required more than ever. You can tackle all your GMAT challenges and remain safe.

Most of our clients at Apex GMAT, once they have had their in-person session, continue to work online with our tutors from anywhere in the world. According to their feedback, they realize that there is no difference in the quality of the lesson. Instead, the comfort of their online sessions makes their journey even smoother. 

Is online tutoring cheaper? 

Besides the above-mentioned advantages of GMAT online tutoring, there is one more highly important point to take into account – your budget! Since most of the hired tutors are distance teachers, they do not have to cover additional costs. Hence, this leads to lower fees which make GMAT online tutoring even more convenient. 

Platforms for GMAT Online Tutors

After reading the benefits of working with an online GMAT tutor you might have considered this as a good option for you. So, what’s the next step? Tracking down the best online GMAT tutor to suit your needs and budget!

The first thing you might do is go on Google and look for online tutors. The internet will give you dozens of options. Don’t forget to check their criteria, pricing lists, curriculum, and availability to make sure that you make the right choice. 

A good starting point is to check out our 770+ GMAT tutors at ApexGMAT, who operate online and globally, you can schedule a complimentary call with one of them here.

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Posted on
01
Sep 2020

GMAT vs GRE

If you’re on the verge of pursuing a professional career in business administration, finance, marketing, marketing management, accounting, law, etc. then taking the GMAT or GRE will be a detour along the way to the top. The type of exam you choose matters. There’s a positive correlation between test scores and future earnings; with higher test scores, you may qualify for a more competitive program, and ultimately, a more lucrative career. This article describes the applications of the GMAT and the GRE in today’s labor market, as well as their similarities and differences, to help you determine which test is right for you. 

1. GMAT vs GRE | Admissions Differences

By far the most important factor to consider is which exam your desired institution accepts and prefers. 

Traditionally, the GMAT is the more common option when it comes to pursuing an MBA or a similar program at a business school. The test is specifically designed to evaluate skills that help MBA admission committees determine not only industry knowledge but also critical traits like risk and time management, problem solving under pressure, and adaptability, all of which are essential for a successful business career.

The GRE’s most distinguishing feature is its suitability for a wider variety of graduate school programs in fields such as business, education, engineering, humanities and arts, life sciences, physical sciences, and social sciences. If you’re targeting a non-MBA graduate discipline, pursuing a dual-degree, or you’re still unsure, then taking the GRE may allow you to kill two birds with one stone. It’s also worth noting that about 90% of MBA programs also accept GRE scores. 

To determine which exam will make you the most competitive, ask the institution’s admissions counselors if they prefer the GMAT over the GRE. Despite many business schools’ claims that they don’t have a preference, around 90% of applicants decide to apply with a GMAT score. This discrepancy might be the result of test takers’ desire to show admissions committees that they have a clear understanding of their graduate program goals and career aspirations. If you aren’t sure which type of graduate program you’re interested in, then the GRE might be the better option. However, if you want to make sure you will be as competitive as possible for an MBA program, then pick the GMAT. In both cases, ranking among the top performers requires rigorous test preparation.

2. Do Business Schools Prefer GMAT over GRE?

The answer to this question is not concrete and can vary, based on various aspects. Consider each exam’s structure to determine which you’re more likely to perform well on. GMAT prep will involve more focus on the quantitative section, which is more challenging than the GRE’s. MBA committees agree that an applicant’s performance on the quantitative section is one of the strongest indicators for a successful career. Hence, one of the advantages of taking the GMAT can be the opportunity to show your strong quantitative skills and make your application more competitive. Conversely, the GRE’s sentence equivalence and text completion sections require a skilled command of highly sophisticated vocabulary, which may be particularly challenging to non-native English speakers.

The choice between the GMAT and the GRE may affect long term career earnings beginning at the graduate level. Applicants with strong GMAT scores are more likely to receive MBA scholarships, which are usually not available for GRE applicants. Some companies even finance GMAT tutoring and exam fees for their employees or interns as an investment that will yield long term results. When it comes down to actual labour market opportunities, however, the GMAT has an even stronger influence. Many firms, especially in consulting and finance, explicitly require a high GMAT score upon recruitment. So, your job opportunities after the GMAT can be affected by how well you perform on the test.

3. Lifetime Earnings Difference

Moreover, there is a high correlation between GMAT score and post-MBA salary. Over the course of 12 years working with applicants to the top 10 MBA programs, we at Apex have been able to track their progress from pre-GMAT to their post MBA careers. With data gathered from admission consultants who work with elite programs, as well as financial data from clients who have completed their MBAs, we conducted an internal analysis of the relationship between the exam score and post MBA financial gains. After correcting for other factors, our study suggested that each ten point increment in one’s GMAT score equates to $80,000 – $90,000 (NPV) of extra lifetime earnings.

An investment in GMAT preparation can result in a successful high-paying professional career in the most competitive fields that draw MBA graduates:

  • Finance – Financial Analysts, Financial Advisors, Investment Bankers, Investment Fund Executives
  • Management – Marketing Managers, Business Operation Managers, IS Managers
  • Business Consulting – Management Analysts, Marketing Managers, Business Operations Consultants, Information Technology Directors, Operation Research Analysts and all C-level positions

If you excel at test-taking and exam preparation, your GMAT journey can also lead you to securing a job as a GMAT instructor. The concept of private, one-on-one GMAT prep that Apex’s GMAT tutors offer is built around a customized GMAT curriculum. The goal of this approach is to work with both native and non-native English speakers to build cognitive skills that can be applied in and adapted to diverse working environments, resulting in career success.

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Posted on
30
Jul 2020

Should You Include Your GMAT Score On Your Resume?

A lot of our clients ask if having a good GMAT score can help you on a job search. The truth is that for some jobs it can be immensely useful. However, other jobs might not even take a look at it. Ultimately, it’s up to the HR departments of your potential employer. Still, there are some rules of thumb to follow. 

1. A Really Strong Score

Let me first begin by saying that the only time you should list the GMAT on your resume is if it’s a really strong score. We’re talking 700 or above. There’s no sense talking about a middling or even middling-GMAT score if you run the risk of having someone ask: “Well why didn’t you score higher?” Really, the bar is about 700. 

There are a lot of industries that really value it if you put your GMAT on your resume and those are going to largely parallel those that value the MBA. Finance, banking, and consulting firms will generally respond favorably to a GMAT score and one of the things to understand about why this is is to understand what the GMAT is and how it factors into a hiring decision. 

2. GMAT As a Signal

The GMAT’s what’s called a psychometric exam and much like other standardized tests, whether it’s the SAT, the ACT, GRE, LSAT, these tests not just what you know but to varying degrees, how you think and many of the top consulting shops have HR departments that have their own in-house tests. So the GMAT serves as a good proxy for those and signals that you will likely thrive and do well in the testing environment that, let’s say, McKinsey might place you in. 

Understand that a strong GMAT score on a resume immediately says to the recruiter, that you can handle a certain amount of intellectual rigor and then you have a certain amount of liability to the way you think. That’s the value of a GMAT score on a resume, aside from the fact, of course, that it compares you to your peers favorably. 

3. Include Your GMAT Score Where Necessary

So, as you’re hunting for jobs, whether it’s post-MBA or whether you just took the GMAT and decided not to go to business school or got an alternative degree, think about listing your GMAT on your resume and think about it as a talking point for how you overcame an obstacle or in a way that might be complementary to the profile or the narrative that you’re trying to present to a particular hiring manager. I hope this helps and if you have any questions don’t hesitate to contact us!

If you enjoyed this video, you can find more useful GMAT content such as: Everything you need to know about the GMAT and GMAT Prep Tips.

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Posted on
12
Feb 2019

Profit & Loss Problem Form

The profit and loss problem form that this problem fits into is one that has strong DSM’s into mathematics. Here we are tempted to do the math in part because that’s so easy. It’s so available to us.

This is characteristic of a mid-level arithmetic problem where there are some shifts and shimmies but overall it’s a fairly straightforward problem that utilizes no more than the four basic operations. So, on the one hand, this profit and loss problem is pre-algebra or even some sort of grade school math. On the other hand, this makes the solution path much more elusive.

Before we dive into solving this problem, let’s take a look at it:

The total cost of Company X to produce a batch of t-shirts is $5,000 plus $2 per t-shirt. Each t-shirt sells for $12. The gross profit earned from producing and selling these t-shirts is the total income from the sales minus total production costs. If a batch of 20,000 t-shirts is produced and sold, then Company X’s profit per t-shirt is?

A. $9.00
B. $9.50
C. $9.75
D. $10.00
E. $11.75

Solving the Problem Using Math

So of course we can follow the math. We can add up all the costs, five thousand plus two dollars, times twenty thousand. Then contrast that with the revenue that comes in which is 12×20,000. But then we’re left with the ugly division problem that brings us to the profit per t-shirt, this is where the GMAT sticks us.

Instead of handling this in aggregate, it’s strongly preferable to handle it with a higher level solution path. Let’s take a look at a few:

Higher Level Solution Path: Distribution

One way to do this is to distribute the fixed cost over the cost per t-shirt. This is actually a lot easier than it seems. Twenty thousand t-shirts, five thousand dollars, five over twenty is one-quarter.

Therefore, it costs one-quarter per t-shirt in addition to the two dollars in variable cost. So, twelve minus two is equal to ten dollars, minus one quarter is equal to nine dollars and seventy-five cents.

Higher Level Solution Path: Graphical Equalization

We can also use a graphic equalization method in order to get to the same conclusion. If the numbers were more complicated, understanding that that shift is one-quarter down. That is the fixed cost is one-quarter down.

Then we know we’re looking for something that ends in a seventy-five cents. That allows us to eliminate all the answer choices that don’t end in 0.75. Then we can use scale to determine that 9.75 is the correct answer.

Practice Problems

There are more complicated versions of this problem form. In particular, I’d encourage you to explore being told that the t-shirt company is breaking even. Then determining the amount of variable costs or fixed cost that’s there or even the production run. Similarly, you can be given a target profit or loss, the break-even just being the zero, so it’s a bit easier and you have to reverse engineer the relationships.

Once again, this doesn’t have to be done algebraically. As you begin to appreciate the subtlety of the ratio between costs production run and total P&L all of these problems should be simplified and should be very straightforward.

Continue your GMAT practice with the Wedding Guest GMAT problem.

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