I just Beat The GMAT!

I wanted to share my GMAT experience as I owe a lot to this forum. I took the test on 29th August and got 710 (49/38; 92 percentile). I am still waiting for the AWA score. I am an Engineer and worked in India for two years before finishing my dual masters from one of the top ten schools in US. I am still contemplating on what to do next as I am currently satisfied with my two year old job. I also have a question for all readers regarding the worth of an MBA degree for me (last section of this post).
But first let me start with my prep that spanned nearly six months. I have a full time job that keeps me busy till late evening on most weekdays. So at the most I could spend two hours on prep during weekdays and around six to seven hours during the weekends. Before I stumbled on BTG my approach was completely disorganized. I was basically practicing with test questions from 1000 series without the knowledge of basic rules/tricks on CR and especially SC. Reading the posts on BTG helped me a lot in terms of planning the prep duration and getting the right books as well as practice tests. I used the following books/tests:

Manhattan SC, RC and CR: I did not come across any other book that lays out the rules of SC as logically as the Manhattan SC. I pretty much memorized all the rules in the book and could see my SC scores go up in practice tests. I remember the comment from one of the experts that SC is one area where one can see drastic improvements by understanding the basic rules and I agree 100% with it. Before I read the Manhattan SC book, I would try to guess an answer based on what sounded right to me. But after going through the book I started to force myself to try and figure out the error in original sentence before looking into the option. For every mistake, I tried to understand which one of the rules mentioned in the book explained the answer. Although there are few questions that involve exceptions not discussed in the book, but the biggest thing that Manhattan SC did for me was to give me the confidence to approach the SC problems.
I did not find the RC and CR books useful as there were other books that cover the area better. For RC, I used the notes posted by one of the user (I wish I could remember the file name) in this forum. Two things that I picked up from that was to start taking sides while reading the passage and also to recap all three (or four) paragraphs before starting to work on the questions. I read a lot of posts regarding taking notes for RC. To test out what worked better for me, I solved 10/15 RCs using both approaches and I noticed that my accuracy was higher after taking notes. So I picked up that approach. I'd write down the notes if the section was long but stick to reading only for short passages. However, I always tried to recap all the passage in 10 to 15 secs before looking at questions.

Powerscore CR : The only thing that I found useful in this book was to get the understanding of Premises and Conclusion. I guess I'd have done better if I had memorized all the rules for different question types but I felt comfortable enough to approach the problems after reading it once. I guess my engineering background make me believe that I'd be able to do well in this section.

Kaplan Premier: I guess this was a complete waste of money and time for me. Although the questions are good in each of the three sections, but there is not a single section that is comprehensive enough for a new user. I guess my first month of prep with this book was a complete waste of time and I would not recommend it to anyone starting his/her prep. The worst part of this book is the CD for practice tests. The questions in the verbal part are way too tough and my range was from 580 to 650 in the four tests. The only thing that it did for me was to discourage me from scheduling the tests earlier. The book has good notes in the end for math section.

Kaplan 800 - Verbal and Maths: I used them towards the end just to check my performance on the practice questions given in the book.

OG 11 - I bought this book early in my prep and as many other users have mentioned, only the last 33% of the questions test the intermediate/advanced test taker. Nevertheless, I believe it's the best resource one can have to assess his/her prep status.
Even though I finished my high school 12 years back, I still remember most of the stuff and it did not take long to get the pace back. I spent less than 3 weeks (including notes revision and solving practice questions) in preparing for this section.
I bought the Manhattan online test and following are my practice test scores:
MGMAT 6: 700 (51/35) - 1 Week before the test
MGMAT 5: 690 (50/34) - 2 Weeks before the test
MGMAT 4: 700 (50/35) - 3 Weeks before the test
MGMAT 3: 670 (47/34) - 6 Weeks before the test (I guess it was stupid to take the second test on the same day)
MGMAT 2: 650 (46/33) - 6 Weeks before the test
MGMAT 1: 710 (48/38) - 6 Weeks before the test (I saw lots of repeat on this one as I had taken the free test earlier)
GMATprep 1 - 760 (Don't remember the breakup) - 2 Weeks before the test
GMATprep 2 - 700 (Don't remember the breakup) - 1 Week before the test
In my last four practice tests I attempted the AWA sections also.

To sum it up, here's what I would suggest to anyone who is starting his prep for GMAT:
1) Read the Manhattan SC, make your own notes and memorize them.
2) Make sure you understand the different CR question types and are able to isolate conclusion from premise. Powerprep is a good resource if you have enough time for it.
3) Use the 1000RC to test if taking notes improves your score. If it does, take as many RC tests as you can. The only thing that matters here is the speed. The sooner you start, the better you'll be towards the end.
4) Do as many drills as possible but make sure you go back and understand your mistakes. As so many experts on this forum have mentions, "it's the quality and not quantity that matters".
4) Use GMATprep 1 after you have gone through the basic reference books in each section. Use the GMATprep 2 later but at least a month before the G-date.

My Questions to the Forum Readers/Experts:
1) One of the concerns for me has been the funding needed for the full time MBA. I did a simple NPV calculation to evaluate my worth with and without the MBA and turns out that for more than 10 years the NPV of earnings from my current job exceeds the NPV of expected earnings after MBA from the best b-school in US. See the attached picture for a sample calculation. The average salary in the sample calculation is assumed as 125K with 26% income tax each year. My question to the group is weather this is a good approach to evaluate the worth of an MBA degree? I know a degree would help me excel faster in my career but it's the numbers that discourage me.
2) I have been looking for resources where I can see discussions on the application process regarding topics such as dates for campus visit, good way to approach the AdComs, interview process in different B-Schools etc etc. Can anyone refer me to some website/forums where I can get more info in this regard?

Hey great score! I'm glad to see your post is up and running... And to answer your question: I have no idea if it would be better for you to get an MBA. I guess it really depends: some people get an MBA because they want to switch industries or have no other way of advancing.

While there's a really personal note to your decision about an MBA, you should always remember that we cannot make accurate predictions of stuff to come, especially when interest rates/expected average salaries/other "out of your control" variables come into discussion. The current economic crisis is the best example of a statistical failure. I remember reading somewhere that investors were so eager to invest in housing-related derivatives cause the number monkeys they kept locked in a cupboard had told them that a decrease in housing values would only happen once every can't-remember-how-many thousands of years... Well guess what?

Anyway, not to sound negative or something: going for an MBA is an investment in yourself. While numbers surely play an important role, they are not the most essential part of it.

Tough question! It can only be answered by you....if you are a genius at what you do right now and you have the ability to network with the top people in your field then maybe you don't need an MBA.

One of the biggetst benefits of the MBA (from a top rated program that is) is access to an alumni network.

So say you attended HBS for example and need to do some business in say, Kenya..chances are that a great number of industry captains in Kenya went to HBS. By simply tapping into that network, you are already 10 jumps ahead of your competition. Now you can't put monetary value on that but it is almost priceless!

Great score BTW..

Thanks Eric, DanaJ and ogbeni. I agree with ogbeni that nothing works like the access to alumni network as it has helped me a lot even in my current job. Although most finance professionals consider prediction beyond 7 years to be less accurate, I am trying to convince myself by looking at this as a long term investment which will beat the other alternatives after 10 years.

Atul,
You can check posts at 'The Business School Application' section of this website to get more info abut application process.Also,You can visit MBA conferences, seminars and fairs arranged by https://www.thembatour.com/ where admissions directors from prestigious business schools come.These tours are generally in Aug/Sept of each year.There is one similar org which I don't remember now.I'll search and let you know.BW(Biz Week)has visit schedule for each school.

For essays application process visit

https://www.clearadmit.com/
https://i4iday.blocked/ (you can get lot of info / resources on this blog)

All the Best!.

Thanks,
Ajay

atul0698 wrote:2)I have been looking for resources where I can see discussions on the application process regarding topics such as dates for campus visit, good way to approach the AdComs, interview process in different B-Schools etc etc. Can anyone refer me to some website/forums where I can get more info in this regard?

I recently got a good job so I am in the same predicament as you. Even though many people on this forum look down on it, I am considering getting a part-time MBA.

First of all, a full time MBA program is FAR better when it comes to recruiting, but if you want to stay with your company, I see no difference. 10 years from now a part-time MBA from Penn is the same thing as a full-time MBA from Penn (someone please correct me if I am wrong here).

P.S. Its also easier to get into a part-time program.

Looking down on a part time MBA program is absurd! If it walks like a duck and quacks as a duck would, then we can conclude that 'it' is, indeed, a duck!!

UChicago PT MBA = UChicago FT MBA program. Same with UPenn.

The FT over PT snobbery just doesn't make sense. You get the same degree, have access to the same resources and network......so to me, saying that one is not as good as the other seems childish.

Thanks for those suggestions Ajay. I'm desperate for any suggestion/advice on application process at this time .

I agree with both Mike and ogbeni that a part time MBA from a good school with a full time job is actually the best combination in terms of maximizing the benefit. I also agree that 10 years down the line no one would cares about the type of MBA. By that time, overall profile will takes the front seat. In fact, in my own analysis the top four options on a seven year timeline (in descending order) were:

1) Company sponsored part time MBA
2) Self sponsored part time MBA
3) No MBA
4) Full time MBA

My only problem is that I live in south where even the best schools have relatively poor ranking. Some may argue that a 5th ranked and a 20th ranked school are not much different but I am yet to convince myself on that. I guess I'll have to take some time out on one of these days and do some kind of a weighted Pros and Cons analysis. Or better just make up my mind for one side and see how it works out. :roll:

@atul0698

What schools do you have in mind? You say you live in the South; does that mean southern US?
Duke, UNC, McCombs - Texas-Austin, USC & UCLA are all in the South (from a strict North-South standpoint)

@ogbeni

I never did the wikipedia search on this, but I used to think that from the viewpoint of a north, midwest, east coast and west coast division NC (UNC and Duke) is on eaast, CA (USC,UCLA) is west, TX, LA,AZ, NM make the south. McCombs or other high ranked schools in TX, AZ, LA (e.g TAMU, Rice U, U of Houston,UT Dallas, LSU ) are not that high ranked in terms of part time MBA rankings.

Hello Atul,

I do not have years experience but what I know is what an MBA can give apart from networking ....it is exposure. Kind of people with whom you will interact. You can compare this thing with an IIT/REC engg college and a normal engg college. What makes them different ... Of course teachers and facilities are important but most important is kind of exposure students get. Env of these colleges is totally different then a normal engg college. In my opinion as have 2 year work exp but one point in time you will be bored with your job and that time you will plan to make some changes in your life then that will be very very difficult.

Hence in my opinion you should go for full time MBA. Agree money is important but once you will finish your MBA you will realise that MBA has bought many colors to your personality. You will think in border perspective.

Now if you are talking about returns on money then you can not just compare things with how much money you bring every month. In my opinion money is important but should not be the only criteria.

In the end.... a simple question... Will you be able to reach a very high post in your current industry after say 10 years???? Have you checked how much bonus people at higher level get??? check it out.. I hope this will help you in taking a decision....

Take time and think about it.

Best of luck !!!

Thanks a lot Beat-D-GMAT for those comments. Now I also don't see any harm in taking a shot at it. Even if I don't succeed in getting admits, the experience is worth the try. If I do get any call, I know where to share my thoughts and ask more questions .