Guys,
This post is long overdue, but I just want to give everyone on this board my experience as a second-time test taker on the GMAT.
As per below, my first attempt with the GMAT netted me 670 which was way below my scores on the practice tests (I was scoring 740-760 on GMATPrep and Manhattan GMAT). The funny thing is, I actually finished the test thinking that I had done OK - I knew I did not do well enough to get a 750+ score, but I was so sure that I had done well enough for a 700+ score. Needless to say, I was pretty disappointed and was ready to settle for this score. Lucky for me, my CO (who has over a decade of experience with standardized tests) basically ordered me to do the test again, which I did a month later, and managed to get 770 (Q50, V44).
So, what made the difference? I'll tell you right now, it wasn't extra study - I did maybe a little bit more study between the first and second attempt, but not so much that it made a whole lot of difference.
Rather, it is my firm and absolute belief that the GMAT test, with its black box scoring algorithm, is flawed. A few wrong answers in a row, especially on the questions that the GMAT defines as easy, can set your score back 50+ points. Couple this with the fact that there are only approximately 40 quant and 40 verbal questions (hardly a statistically significant number) and what you have is a flawed test where a small bad patch in a row can lead to a disastrous result. This is what I felt happened to me on my first attempt.
My advice to all of you who have done the test once, received a score that you thought was well below your ability, and are now wondering whether you should do the test again, is this: do the test again. It may very well be the case that you made some careless errors in a row, and the scoring algorithm has penalised you too heavily for this, making a recovery almost impossible. The next time you do it however, keep in mind that you should try to avoid guessing or rushing through two questions in a row.
Many of you may have also read the text on the back page of the GMAT score report, which says something like, "you can do the test again, but beware that you may get a lower score, and typically it is uncommon for test takers to improve their score markedly". Reading this nearly convinced me not to do the test a second time, but I'll tell you right now that this is not true - many, many, many people improve their score on their second or third or whatever try. The GMAT just says this because it wants to create the impression that its scores are accurate and that the standard error of the scores are low, when in fact I believe the standard error is actually quite high.
Remember, the GMAT is a flawed and imperfect test. It presumes to gauge your quant and verbal ability with respect to the test taking population on the basis of less than 80 questions - a ridiculous proposition in my view. Don't let a low first score get you down ... and best of luck to all future test-takers!
PS: Numan, if you are reading this, wishing you the very best in your next attempt! Feel free to email me anytime if I can be of help.