The Graduate Management Admissions (GMAT) Test or as we widely call it, GMAT is a popular admissions test for getting admissions into colleges with MBA programs and other graduate master’s programs all over the world. It is a computer-adaptive standardized test used by business schools to assess if a student is ready for graduate school (master’s). It is a three and a half hour long examination that looks into an aspiring student’s analytical writing, integrative thinking, and quantitative as well as verbal abilities.
GMAT is not just for MBA but for several master’s programs, and PGD courses as well. In fact, a lot of master’s programs in Canada and Australia seek GMAT test scores which further states the fact that it is not just for MBA.
Data shows that more than 5,000 programs offered by more than 1,900 schools at 1,500 Universities and Institutions in about 82 countries use the GMAT exam as part of the selection criteria for their programs. A few such countries are Finland, USA, Philippines, India, Denmark, Portugal, etc.
While appearing for the GMAT your focus should be more on scoring 700+ in the examination in order to be eligible for applying to as many courses as possible at the top Business Schools and Graduate Schools in the World. GMAT scores are a reliable standard measurement of academic Prowess, says Bloomberg.
Below is a list of a few programs that aren’t MBA that you can apply to after your GMAT test-
- MS in Finance
- MS in Business Analytics
- Master’s in Accounting
- Master’s in Financial Economics
- Master in Quantitative Finance
As many aspiring students wonder, you too may be wondering about scholarships after GMAT. The next question popping up in your mind might be “Will a Good GMAT score get me a good Scholarship?” Well, the answer to this question is a big fat Yes.
A good GMAT score can undoubtedly lead you to tap the best scholarships that are available for your respective programs. The scholarships can be based on merit as well as need. These scholarships are offered by Colleges and Universities, Country-run Scholarship institutions, or foundations that are willing to support international students.
You would be pleased to learn that the GMAT exam is a proven predictor of Academic success at graduate schools abroad. A good GMAT score plays an essential role in determining the eligibility for merit-based scholarships and in fact in some scenarios business schools tend to offer automatic tuition fee reductions to applicants who have a good GMAT score that prove their academic intelligence.
So, trust me when I say this “A good GMAT score can go a long way.” It not only helps you in securing a good seat at the top business schools and graduate colleges all over the Globe but a good GMAT score also sets you apart from the job-seeking crowd after you finish graduate school. A good GMAT score may be the thing that makes you stand out amongst your fellow job seekers in the job market.
Types Of Scholarships Available after GMAT –
- Merit-based scholarships – As the name suggests these scholarships are for academically gifted students. A student with excellent academic records and higher GMAT scores can secure merit-based scholarships for their graduate school education. These scholarships are not just limited to academic intelligence but also cover students who have extraordinary achievements in extracurricular activities or Sports.
- Need-based Scholarships – These scholarships are meant for students who have great academic records but lack the financial means to support their education. Harvard Business School, Dartmouth Tuck, Oxford Saïd Business School, London Business School, and MIT Sloan are the top Business Schools that provide Need-based Fellowships to aspiring candidates who fulfill the Eligibility criteria for these scholarships
- External/General Scholarships – These are scholarships offered by outside agencies and organizations to students who need them. For these scholarships, an applicant must have a desirable GMAT score and a personality that stands out in a crowd which leads to them securing these scholarships.
The best part about the GMAT test is that you can retake it until you’ve scored a score that lets you get admitted into your dream college. This means, there is always room for improvement here, so If you take it once and score 600 you can take it again and score 650 and keep on going. Once you’ve scored above 700 there’s no need of sitting for the test again because a score above 700 indicates that you will be able to handle the academic load that will be thrown at you in these graduate programs.