GMAT Strategy

I'm in the infancy stages in preparing for the GMAT, but am hoping to get direction on where to begin. My goal for myself is to score a 720+ and very realistic that this may take time/multiple tests.

I'm 24 years old, working in Commercial Real Estate Development, so my mindset is to take the GMAT now as a precautionary measure the real estate market goes into the crapper and I need a plan B. I realize that I'm 2-5 years out on going to get an MBA, but want to be able to sit on a high score for when I do decide to go back to school.

To date I have not prepared at all and the only thing I've bought was the GMAT prep book back in 2013 and monitoring forums such as this. My main question is where do I begin?

Do I take a few practice tests and then register for a top prep course? Should I self-study for a few months, take the actual GMAT and reassess where I'm at?

I don't mind spending money if it will be worth my while, but really just looking for what the best route would be for achieving the highest score.

Given my circumstances and goals, what is the best route?

Thank you in advance for your help and guidance.

- Luke

I agree that taking a practice test is a great start and will help you assess your needs for studying. As far as taking a course goes, it really depends on your study habits and needs. There are three types of courses that are available:

-Online on demand- pre recorded lessons that you can watch according to your schedule.
-live online- taking a live course with other students in an online setting
-classroom course- when you go to a physical classroom to take a cours

Hi,

Here are few things you can do to get started for GMAT preparation:

1. If you are just starting your preparation, start with a mock test. This will make you familiar with the test format and also help you identify your strong and weak areas
2. If you plan to do self study, get your hands on the best preparatory material available in the market. You can speak to your seniors, get feedback on forums to seek out the best in the market
3. Joining a coaching institute is recommended because it gives a structure to your preparation. Remember cracking GMAT is not just about working hard but working smart as well
4. Make a study time table for yourself that suits you best. You can start with spending 2 hours every day and as you move closer to your test date, start increasing your study hours
5. Keep taking mock tests in real test taking situations. However, more important than taking a mock test is to analyse your performance in the same. If you spend 2 hours on a mock test, spend 6 hours in analyzing the same. Figure out ways by which you can continuously keep improving your score
7. Make sure you stay consistent with your schedule. This is extremely important

While you are preparing for GMAT, make sure you have your eyes on the larger goal which is to get an admit from the best schools. A good overall profile is also important apart from a good GMAT score.

Consult an expert and make sure you are simultaneously working on making your profile better if required

One last advice: Write your GOAL on a piece of paper and paste it in front of your study table. Whenever you feel distracted or low on energy, make sure you look at your GOAL

For any other specific queries, please do let us know and we would be happy to help. Wish you all the best.

#gmatcoaching - www.manyagroup.com

Do I take a few practice tests and then register for a top prep course? Should I self-study for a few months, take the actual GMAT and reassess where I'm at?

I don't mind spending money if it will be worth my while, but really just looking for what the best route would be for achieving the highest score.

Given my circumstances and goals, what is the best route?

You have given some important details. But there are some other things to consider before you choose your preparation strategy.

Certainly you will need to take a practice test, that is a given. Do not study before this test beyond simply doing a few problems to familiarize yourself with the question types. You want to see where you are right now with no preparation. This practice test should be the GMATPrep practice test from MBA.com. This will give you the best idea of where you are.

Now, before you decide to begin to self study or to take a course you need to think about a few issues. For some people self study is a great and they are able to achieve their goals without the additional expense. For others starting with self study results in a set back because they develop bad habits that need to be changed in order to improve their score. If the wrong kind of person begins to self study or takes the wrong course it can add weeks to the process just getting them to unlearn some of the habits that they have developed.

Which kind of person are you? Will self study work or should you go straight into a top GMAT course? I have compiled the list below because I have been asked by so many people if they can self-study or if they need one of the top companies that are reviewed here on Beat the GMAT.

I generally give the following guidelines to people who have the same sort of question that you do - self-study or get some help.

1) How much time can you devote to your studies? To do it alone does take more time. If you can put in more time per week then you have a better chance of doing it on your own with books. If you are busier with work, then you may be a candidate for getting some help.

2) Are you the kind of person who generally looks at something and tries to figure out the best way of doing it? If you plan your errands so that you have no left turns in traffic or so that you drive the fewest miles then you are a better candidate for self study. If you are a person who uses a GPS device then you might be someone who does better with some expert guidance!

3) How disciplined are you? Some people can set a schedule and stick to it. Others do better when they have a class coming up and they know the homework will be reviewed.

4) When was the last time you had a math class? The more you need to review the help you may need.

5) How close are you to your goal score? If your initial practice test already has you within 50 points of your goal then you can probably get there on your own. If you are 150 points away then you might need some help!

6) Time or money? It costs more to take a course or tutoring, but it takes longer to do it yourself. Of course, it does not require too many GMAT retakes before a course starts to seem less expensive!

So take that practice exam and see where you are. Think about these issues, and whatever you decide, congratulations on thinking so far ahead!

David

Thank you everyone for your responses.

Per most of your suggestions, I took a practice test yesterday morning. Embarrassingly enough I only scored a 460. Needless to say, I'm in need of a refresher on a multitude of items. I do however, feel that this wasn't the most accurate of scores. I stupidly woke up at 7am, rolled out of bed and started it, but obviously there's a lot of things I need to work on. I failed to finish the last 3-4 questions on the IR section, and finished Quant and Verbal with about 10 and 20 minutes left respectively. I think I should have done a better job in really using this as a measuring stick, which I did not. Breakdown of scores below:

IR: 3
Quant: 28
Verbal: 25
Total: 460

While I'm not fully discouraged, I'm trying to take an honest assessment of myself. Is a 720 a realistic goal? Is it worth my time? With my end goal in mind these are all things I need to consider.

To be perfectly honest before even taking the first practice test the highest likelihood of a secondary degree would be a Masters of Real Estate Development from USC (as it's local and would afford me the ability to go part-time).

The lofty ambitions of deviating from my real estate career to pursue a top tier MBA (i.e. Wharton, Booth, Berkley, MIT, etc.), would be to go into the PERE world. Obviously opportunity cost is something to consider, and that's something I'm still completely unsure about given my age and inability to predict the future regarding personal circumstances down the road.

Apologies, for the lack of brevity, but I guess at the end of the day I'm still back to where should I go?

I do realize that I'd probably do better in a classroom setting (whether it be in-person or online), but would the close to $2k be worth it?

I took an SAT prep class and increased my score by about 200 pts, but at the end of the day my original score was good enough to get me into my undergrad (Biola University - La Mirada, CA). While I don't regret taking the class, there wasn't a need.

So given a bit more detail (and apologies, cause there's probably too much), should I take some time off to think about it a little more? Should I start going through some of the free trails and go from there? I ideally would like to get the GMAT out of the way, so I'm still in the mindset to get through it before Q4 2015.

Thanks again all for the time, comments, and info. It's greatly appreciated.

Hi

Considering you have just started your preparation, you shouldn't be disheartened at all. The objective of this test should have been to help identify your strong and weak points. Now, since you took this test straight out of bed, we would advice you to take another test under a real test like condition.

Irrespective of the score you get, use it only and only to identify your strong and weak points. Once you have identified the same, get back to the basics and brush up on your weaker sections. Keep the practice on and in between keep taking the mock tests. With each test, try to analyse better, smarter and faster ways of doing all the questions. Take a note of these points and keep applying them in subsequent tests.

If you stay consistent with your preparation, you will see your scores improving.

Keep us updated on the progress you make. Wish you all the best.