GMAT Tips

1. Pacing tips
Example
What is 999,999 x 999,999?

Hmmm... can you get that done in four minutes? While working on a dry erase board? I don't think so! You could solve this question by doing the math (after a few minutes) or you could use a shortcut with FOIL by converting 999,999 into 1,000,000 minus 1. You can then change 999,999 x 999,999 into (1,000,000 - 1)(1,000,000 -1) = 1,000,000(squared) - 2,000,000 + 1.

More than likely you just find the answer with "1" as the final digit and you have found the correct answer in less than 15 seconds. As a rule of thumb, if you have spent more than four minutes on a question, there was likely a shortcut that you missed.

A useful resource for time management is 800score. They offer a GMAT test pacer system that trains you to learn proper pacing for the GMAT. This available on their free GMAT download.

2. Don't panic or fret over the last question
The most effective approach is to practice, practice, practice to get used to taking the test under timed high-pressure conditions, and remember, if all else fails you can always cancel the exam at the end.

3. Fill in the blanks
If you have a minute left and many questions to go, just fill in all the blanks. There is a greater penalty for unanswered questions than guessing.

4. Spend a great deal of time and take many tests
You may need more time (two to five months) if you have been out of school for some time and need to brush up on material. In general, you should spend at least 50 hours preparing.

5. Study courses
Consider taking a classroom or online ecourse if you need additional help. Your score may increase by 100 to 200 points. If you are looking to beat the GMAT, evaluate your GMAT course options.

6. Focus on sections most amenable to improvement
The essay section and the sentence correction sections questions will tend to show the largest improvements with preparation.
- For the essay section, have 2 or 3 basic templates - this saves a lot of time and thinking during the exam. Also, brainstorm ideas in the first five minutes before you start writing. The work you put in then can make the rest of the essay much easier. I have not scored anything less than a 6.0 essay yet, so this method of attack must have some merit.

- For reading comprehension, find the method of reading passages that works for you (jotting down notes or remembering content as you go along). Some guides recommend jotting down notes as you read, but I found this distracting as I was able to keep key points in my head reasonably well. In any case, make sure you have a clear idea of the main point of each paragraph after you've read it.

8. Learn to use the scrap board
You can use scrap paper effectively by copying from the screen and doing work or taking notes on the scrap paper. You can also use the scrap paper to make an answer grid, which is helpful for eliminating answer choices.

9. "The perfect is the enemy of the good" Voltaire
Do you know that on the GMAT you can get 55% of questions right and still get a great score? Don't try to get perfection. Even if you are aiming for an 800 score, you still don't need to get every question right. Thinking about the test this way is liberating. Don't worry if you are stuck, just move on.

If you are stuck, then try to eliminate obvious wrong answers and guess at the remaining choices. If you are spending six minutes on a question, it is likely because you do not know how to do it, and you will almost certainly get it wrong. Get it wrong (or right if you are lucky) quickly by guessing and save the time for questions you do know how to answer.


10. Take care to avoid needless errors
As a multiple choice test, you know that you made an answer if your answer isn't one of the five choices! After you have finished your practice GMAT exams, you'll find that many errors are simple carelessness. Oftentimes you mis-copy the text of a question onto scrap paper, make a simple mathematical error or mis-read a question. Eliminating needless errors is largely a matter of discipline, focusing and practice. After you catch enough of your own errors, you will start to see patterns and can act to prevent them.

Brushing Up Before B School, For Free

Many of you may be getting ready to start an MBA program in the next couple of months. But how long has it really been since you took classes like statistics or accounting? Many MBA courses fly through the material, allowing little time for you to even recall the difference between mean, median and mode.

Luckily, there are many free online business courses built specifically for students gearing up to start their MBA programs to help them brush up on the more difficult material. Several of these free courses are offered by the top business schools in the country - so we know they are legit.

Thanks to About.com's guide to business school and Admit 1 MBA we are able to share a comprehensive list of these free courses available. Here's a few from those sources we wanted to highlight:

• Introduction to the context of accounting (UK)
  
• Economic Analysis (UC Berkeley)
  
• Financial Markets (Yale)
• Introduction to Financial and Managerial Accounting (MIT)

Also, listen to what the business school deans have to say about taking some coursework before business school:

MBA Quantitative Skills: Sharpening Your Skills Before You Begin Your MBA

Preparing for an MBA: Classes To Take Before Applying to or Attending Business School

University Profiles

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Northwestern University-Kellogg -$ 93,918 ($ 150,000)
Nonresident : $ 93,918
Recommended annual budget (Resident): $ 73,539
Recommended annual budget (Nonresident): $ 73,539

Full-time program (months): 22

Work experience of newest entering class: 61 Middle 80% range: From: 36 - To: 85

Mean age of entering class: 28

Median MBA financial aid package for the current academic year:$ 60,650
Mean outstanding debt : $ 79,566

GMAT Middle 80% range GMAT scores:From: 650 - To: 760

University of Chicago -$ 97,165 ($160,000)
http://www.ChicagoBooth.edu
Total direct costs (tuition and required fees) of the entire MBA program: $ 97,165
Recommended annual budget (Resident): $ 78,972

Full-time program (months): 21
IELTS TOEFL

Middle 80% range of work experience: From: 36 - To: 86
Median age of entering class: 28

Financial aid :package for the current academic year: $ 67,500
Mean outstanding debt : $ 85,614

GMAT Mean : 713 - Median: 720 - Middle 80% range GMAT scores: From: 660 - To: 760


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The Wharton School- University of Pennsylvania -$ 104,410 ($ 160,000)

Total direct costs (tuition and required fees) of the entire MBA program:
Nonresident : $ 104,410
Recommended annual budget (Nonresident): $ 80,000

Full-time program (months): 22

Work experience of newest entering class in months: From: 48 - To: 96
Median age of entering class:28

Median MBA financial aid package for the current academic year:$ 69,500
Mean outstanding debt: $ 98,668

GMAT Mean : 714 - Median: 720 - Middle 80% From: 660 -To: 760

Harvard Business School- $ 101,660
http://www.hbs.edu/mba
Full-time program (months): 18
IELTS + TOEFL

Mean months of work experience of newest entering class: 42
Mean age of entering class: 26

Full-time MBAs receiving financial aid through school: 74 %
Mean outstanding debt: $ 80,525

GMAT - Mean : 720 Middle 80% range GMAT scores: From: 680 - To: 770


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Stanford University - $ 97,842 ($ 150,000)
Total direct costs (tuition and required fees) of the entire MBA program: $ 97,842
Recommended annual budget (Resident): $ 76,332
Recommended annual budget (Nonresident): $ 76,332

Full-time program (months): 20

Median MBA financial aid package for the current academic year: $ 51,887

GMATMean : 726 - Median: 730 Middle 80% range GMAT scores:From: 670 -To: 770

GMAT Books Comparison

// Pros - Excellent source of GMAT questions. Very well organized with real test like questions.
Cons - No review of any math content or test-taking strategies. Not very good explanations of practice questions.
Overall, the Official Guide is a must have for all test-takers. It will give you a good idea about the type of questions to expect on the GMAT; however, if you need more than just a bank of questions, you need to look at some other source.Kaplan:
Pros - Good for additional practice questions as a supplement.Publish Post
Cons - Review of math content is not thorough but just the very basics. Not enough explanation of test taking strategies. Full of guessing techniques with no real mathematical solutions. Not good enough explanations of practice questions. Unrealistic questions.Princeton:
Pros - Good for learning how to make educated guess and process of elimination.
Cons - Review of math content is not thorough but just the very basics. Not enough explanation of test taking strategies. Full of guessing techniques with no real mathematical solutions. Not good enough explanations of practice questions. Weird sense of humor of Joe Blogs.Barrons:
Pros - Good math review. Big list of questions. Good test taking strategies. Very well organized. This is by far the best of the all-in-one kinds of books.
Cons - Although the book has a good math review, it doesn't go deep enough into each concept. Does not have a good section for logical reasoning (permutation, combination, probability, etc) questions, which is one of the most important question-type. Does not break down the concepts/questions step by step. This is the only book I recommend you must buy apart from the OG.EZ Solutions (series of books):
Pros - Thorough math review from A to Z in the review books. Effective test taking strategies. Abundant solved examples. Numerous practice exercises. Great practice question bank in basic and advanced workbooks. As with most books, you are expected to already have a good knowledge about the various match concepts, but with these books, you can literally start from scratch and reach the most advanced level of the GMAT.
Cons - To get the best result from these books, you have to invest in buying several books (set of 10 books), but if you compare the cost and benefits, the benefits outweigh the cost, or you can buy a few not all. Missing the verbal section. This is not a good option if you are looking for a very basic brush-up. Recommended for serious test takers who have enough time for preparation.

MBA Journal

I remember the overwhelming feeling of moving to a new city, tackling graduate courses, and readjusting to life on a student budget. I remember, too, the anxious anticipation of classes starting, the excitement of being in an academic environment again, and the possibilities in the never-ending stream of new faces

—Ellyn Charters, Chicago

In the end, the critical benchmark will be the graduate's ability to perform in the marketplace. And the progress to such sufficiency is typically on display during the internship between the first and second years of a full-time MBA program

—Jonathon Feit, Carnegie Mellon

Before school started, I never would have guessed that the thing that I would end up cherishing most would be the people

—Toby Gardner, UC Berkeley

Most of us go through the same steps…Looking back, three main aspects of the process were critical to me

—Ron Margalit, Georgetown

I always knew that business school was more than just an opportunity to change careers and develop networks, but what has surprised me is the amount of non-business education that comes with it

—Ash Martin, MIT

If I could do it again, I would complete the GMAT in the summer months and spend more time on the applications, since the essays seem just as important as high GMAT score

—Alejandro Tinajero, UCLA

At the beginning of business school, everyone's on his or her best behavior… Then, at some point, everyone stops pretending. The coursework is difficult. Most people have at least one class that truly challenges them, and some (like me) find the entire core semester material to be outside their comfort zone

—Kathleen Voboril, Texas

Harvard University

PROGRAM BASICS

Harvard Business School

Soldiers Field - Boston , Massachusetts 02163

Program Web site: http://www.hbs.edu/mba

Program e-mail address: admissions@hbs.edu

PROGRAM COSTS

Total direct costs (tuition and required fees) of the entire MBA program:
Nonresident : $ 101,660

PROGRAM LENGTH

Full-time program (months): 18

ENROLLMENT

Total graduate business school: 1921 /Full-time MBA: 1801

ADMISSIONS

Application Deadlines

October 15, 2008 January 6, 2009 March 1, 2009

Which English language proficiency tests are accepted?
IELTS

TOEFL Computer Based

TOEFL Internet Based Test

TOEFL Paper-based Test

Relative importance: Application Elements

GMAT Score: Very Important

Resume/Work Experience: Very Important

Application Essays: Very Important

Interviews: Very Important

Recommendations:Very Important

Undergraduate Transcripts: Very Important

APPLICANTS

Applications (admitted and denied) to the newest class: 8661

Applicants who were accepted to the most recent class: 12 %

Admitted applicants who enrolled in the newest class: 91 %

APPLICANT POOL

CLASS PROFILE

Full-time students in newest entering class (2008-2009) that are:
Female: 38 %
International: 33 %

Ethnicity/US Students in Program -Students from following regions:
Africa : 1 %
Asia: 10 %
Eastern Europe and Central Asia: 1 %
Latin America and the Caribbean: 4 %
Middle East: 2 %
North America: 71 %
Oceania : 1 %
Western Europe: 10 %

Entering North American citizens by region:

Mean months of work experience of newest entering class: 42

Mean age of entering class: 26

FINANCIAL AID

Full-time MBAs apply for financial aid through:

Dedicated financial aid office at the B-school

Full-time MBAs receiving financial aid through school: 74 %

On what basis are scholarships awarded? financial need

How does an applicant apply for scholarship consideration?

Unique scholarship application

Mean scholarships awarded to full-time MBAs in the previous academic year: $ 25,000

Percentage of second-year students receiving the same or more amount of money in their second year of study: 97 %

Does the school offer a guaranteed loan to all MBAs regardeless of nationality?

Mean outstanding debt among the most recent graduates from the full-time MBA program:

$ 80,525

GMAT - Mean : 720

Middle 80% range GMAT scores: From: 680 - To: 770

Northwestern University-Kellogg

Kellogg School of Management

Full-Time Kellogg MBA Program

Donald P. Jacobs Center - 2001 Sheridan Rd - Evanston , Illinois 60208

Program Web site: http://www.kellogg.northwestern.edu

Program e-mail address: MBAadmissions@kellogg.northwestern.edu

PROGRAM COSTS

Total direct costs (tuition and required fees) of the entire MBA program:
Nonresident : $ 93,918
Recommended annual budget (Resident): $ 73,539
Recommended annual budget (Nonresident): $ 73,539

PROGRAM LENGTH

Full-time program (months): 22

ENROLLMENT

Total graduate business school: 2790 - Full-time MBA: 1200

ADMISSIONS

TOEFL Computer Based

TOEFL Internet Based Test

TOEFL Paper-based Test

Relative importance: Application Elements

GMAT Score:Very Important

Resume/Work Experience:Very Important

Application Essays:Very Important

Interviews:Very Important

Recommendations:Very Important

Undergraduate Transcripts:Very Important

APPLICANTS

Applications (admitted and denied) to the newest class: 5051

Applicants who were accepted to the most recent class: 19 %

Admitted applicants who enrolled in the newest class: 58 %

Applicants (admitted and denied) who were interviewed: 89 %

APPLICANT POOL

International applications received: 43 %

Applications from women received: 29 %

CLASS PROFILE

Full-time students in newest entering class (2008-2009) that are:
Female: 36 % - International: 34 %

Ethnicity/US Students in Program
African American: 7 %
Asian American: 25 %
Hispanic or Latino American: 6 %
White (Non-Hispanic): 54 %
Chose not to report: 5 %
Other: 4 %

Students from following regions:
Africa : 2 % - Asia: 16 % - Eastern Europe and Central Asia: 1 %
Latin America and the Caribbean: 5 % - Middle East: 1 %
North America: 69 % - Oceania : 1 % - Western Europe: 5 %

Mean months of work experience of newest entering class: 61

Middle 80% range of work experience of newest entering class in months:
From: 36 - To: 85

Mean age of entering class: 28

FINANCIAL AID

Full-time MBAs apply for financial aid through:Dedicated financial aid office at the B-school

Full-time MBAs applied for financial aid for the current academic year: 68 %

Full-time MBAs receiving financial aid through school: 64 %

Mean MBA financial aid package for the current academic year: $ 51,825

Median MBA financial aid package for the current academic year:$ 60,650

On what basis are scholarships awarded? financial need - academic merit - a combination of need and merit

How does an applicant apply for scholarship consideration? all candidates are considered for scholarship

Mean scholarships awarded to full-time MBAs in the previous academic year: $ 12,027

Does the school offer a guaranteed loan to all MBAs regardeless of nationality? No

Mean outstanding debt among the most recent graduates from the full-time MBA program: $ 79,566

GMAT

Middle 80% range GMAT scores:From: 650 - To: 760

University of Chicago

PROGRAM BASICS

Full-Time MBA Program

5807 South Woodlawn Avenue
Chicago , Illinois 60637

http://www.ChicagoBooth.edu

admissions@ChicagoBooth.edu

PROGRAM COSTS

Total direct costs (tuition and required fees) of the entire MBA program: $ 97,165
Recommended annual budget (Resident): $ 78,972

PROGRAM LENGTH

Full-time program (months): 21

ENROLLMENT

Graduate business school enrollment
Total graduate business school: 3291
Full-time MBA: 1144

ADMISSIONS

Application Deadlines
Semester: October 15, 2008
Deadline: January 7, 2009
Semester: March 11, 2009

IELTS

TOEFL Computer Based

TOEFL Internet Based Test

TOEFL Paper-based Test

Minimum paper-based TOEFL score required for MBAs: 600

Relative importance: Application Elements

GMAT Score:

Very Important

Resume/Work Experience:

Very Important

Application Essays:

Very Important

Interviews:

Very Important

Recommendations:

Very Important

Undergraduate Transcripts:

Very Important

APPLICANTS

Applications (admitted and denied) to the newest class: 4144

Applicants who were accepted to the most recent class: 22 %

CLASS PROFILE

Full-time students in newest entering class (2008-2009) that are:
Female: 35 %
International: 35 %
Married: 22 %

Ethnicity/US Students in Program
African American: 4 %
Asian American: 16 %
Hispanic or Latino American: 3 %
Multiethnic/Multiracial : 2 %
Native American: 0 %
White (Non-Hispanic): 37 %
Chose not to report: 2 %

Students from following regions:
Africa : 1 %
Asia: 20 %
Eastern Europe and Central Asia: 3 %
Latin America and the Caribbean: 8 %
Middle East: 3 %
North America: 59 %
Oceania : 0 %
Western Europe: 6 %
Percentage of students with dual citizenship: 7 %

Entering North American citizens by region:

Mean months of work experience of newest entering class: 60

Middle 80% range of work experience of newest entering class in months:
From: 36
To: 86

Median age of entering class: 28

FINANCIAL AID

Full-time MBAs apply for financial aid through: Dedicated financial aid office at the B-school

Full-time MBAs applied for financial aid for the current academic year: 100 %

Full-time MBAs receiving financial aid through school: 77 %

Mean MBA financial aid package for the current academic year: $ 55,276

Median MBA financial aid package for the current academic year: $ 67,500

On what basis are scholarships awarded?
academic merit- a combination of need and merit

How does an applicant apply for scholarship consideration?

As part of the admissions application

Percentage of second-year students receiving the same or more amount of money in their second year of study: 100 %

Does the school offer a guaranteed loan to all MBAs regardeless of nationality?

Only to domestic students

Mean outstanding debt among the most recent graduates from the full-time MBA program: $ 85,614

GMAT

Mean : 713 - Median: 720 - Middle 80% range GMAT scores: From: 660 - To: 760

Stanford University

518 Memorial Way
Stanford , California 94305-5015

http://www.gsb.stanford.edu

http://www.gsb.stanford.edu/mba/contact/ask_question.html

PROGRAM COSTS

Total direct costs (tuition and required fees) of the entire MBA program: $ 97,842
Recommended annual budget (Resident): $ 76,332
Recommended annual budget (Nonresident): $ 76,332

PROGRAM LENGTH

Full-time program (months): 20

ENROLLMENT

Graduate business school enrollment
Total graduate business school: 898
Full-time MBA: 739

ADMISSIONS

Application Deadlines

10/29/08 01/07/09 04/08/09

TOEFL Computer Based

TOEFL Internet Based Test

TOEFL Paper-based Test

Minimum paper-based TOEFL score required for MBAs: 60

APPLICANTS

Applications (admitted and denied) to the newest class: 6575

Applicants who were accepted to the most recent class: 8 %

Admitted applicants who enrolled in the newest class:77 %

CLASS PROFILE

Full-time students in newest entering class (2008-2009) that are:
Female: 36 %
International: 43 %
Married: N/A %

Ethnicity/US Students in Program

Students from following regions:
Africa : 2 %
Asia: 12 %
Eastern Europe and Central Asia: 5 %
Latin America and the Caribbean: 8 %
Middle East: 3 %
North America: 60 %
Oceania : 2 %
Western Europe: 13 %
Percentage of students with dual citizenship: 9 %

Entering North American citizens by region:

Mean months of work experience of newest entering class:47

Median months of work experience of newest entering class: 47

Middle 80% range of work experience of newest entering class in months:
From: 27 - To: 72

FINANCIAL AID

Full-time MBAs apply for financial aid through: Dedicated financial aid office at the B-school

Full-time MBAs applied for financial aid for the current academic year: 75 %

Full-time MBAs receiving financial aid through school: 62 %

Mean MBA financial aid package for the current academic year: $ 48,793

Median MBA financial aid package for the current academic year: $ 51,887

Full-tuition scholarships school will award during the upcoming academic year: 22

Mean scholarships awarded to full-time MBAs in the previous academic year: $ 21,111

Mean outstanding debt among the most recent graduates from the full-time MBA program:

$ N/A

GMAT

Mean : 726 - Median: 730

Middle 80% range GMAT scores:From: 670 -To: 770

University of Pennsylvania

The Wharton School

PROGRAM BASICS - MBA Program

Wharton School - 1000 SH-DH- 3620 Locust Walk - Philadelphia , Pennsylvania 19104

Program Web site: http://mba.wharton.upenn.edu/mba/

Program e-mail address: mba.admissions@wharton.upenn.edu

PROGRAM COSTS

Total direct costs (tuition and required fees) of the entire MBA program:
Nonresident : $ 104,410
Recommended annual budget (Nonresident): $ 80,000

PROGRAM LENGTH

Full-time program (months): 22

ENROLLMENT

Graduate business school enrollment
Total graduate business school: 2253
Full-time MBA: 1651

ADMISSIONS

Application Deadlines

Oct 9, 2008 Jan 8, 2009 March 5, 2009

TOEFL Computer Based

TOEFL Internet Based Test

TOEFL Paper-based Test

Other: 0

Minimum paper-based TOEFL score required for MBAs:

N/A

Relative importance: Application Elements

GMAT Score:

Important

Resume/Work Experience:

Important

Application Essays:

Important

Interviews:

Important

Recommendations:

Important

Undergraduate Transcripts:

Important

APPLICANTS

Applications (admitted and denied) to the newest class:7328

Applicants who were accepted to the most recent class:16 %

Admitted applicants who enrolled in the newest class:69 %

Applicants who were re-applicants from prior years:10 %

CLASS PROFILE

Full-time students in newest entering class (2008-2009) that are:
Female: 36 %
International: 44 %
Married: 21 %

Ethnicity/US Students in Program
African American: 8.2 %
Asian American: 7.8 %
Hispanic or Latino American: 0.8 %
Multiethnic/Multiracial : 0 %
Native American: 0 %
White (Non-Hispanic): 18 %
Chose not to report: 65 %
Other: 0.4 %

Students from following regions:
Africa : 2.4 %
Asia: 20 %
Eastern Europe and Central Asia: 1.5 %
Latin America and the Caribbean: 6.9 %
Middle East: 3.9 %
North America: 58 %
Oceania : .61 %
Western Europe: 6.6 %
Percentage of students with dual citizenship: n/a %

Entering North American citizens by region:
Northeast: 26 %
Mid-Atlantic: 41 %
South: 5.9 %
Southwest: 5.2 %
Midwest : 5.6 %
West: 13 %
Possessions and territories: 0.4 %

Mean months of work experience of newest entering class: 70

Middle 80% range of work experience of newest entering class in months:
From: 48 - To: 96

Median age of entering class:28

Mean age of entering class:28

FINANCIAL AID

Full-time MBAs apply for financial aid through:Dedicated financial aid office at the B-school

Full-time MBAs applied for financial aid for the current academic year:87 %

Full-time MBAs receiving financial aid through school:87 %

Mean MBA financial aid package for the current academic year:$ 54,514

Median MBA financial aid package for the current academic year:$ 69,500

Full-tuition scholarships school will award during the upcoming academic year: 10

Mean scholarships awarded to full-time MBAs in the previous academic year: $ 12,000

Percentage of second-year students receiving the same or more amount of money in their second year of study: 93 %

Mean outstanding debt among the most recent graduates from the full-time MBA program: $ 98,668

GMAT

Mean : 714 - Median: 720 - Middle 80%

From: 660 -To: 760