Should I take the GMAT now?

Depends when you want to go to b-school. I'm 21 (rising senior) and I took it. I definitely want to get into b-school before I'm 26 (I won't go otherwise, honestly) so it made sense for me. If you think there's a chance you might work a while longer, then don't bother with it now. It would suck to get a great score but have to retake.

That's a good point. I feel similarly. If I don't go to business school before I'm 26, I don't see myself doing it either.

Thanks.

u guys make me feel old. im 31 and planning to goto b school in 2010... u guys r making me crib ... lol

@rangerguy2000, Don't worry dude I am there to give you company

You should absolutely take it now, while you are still a student and in school mode. Life only gets busier once you finish school, and your study skills only get rustier. Also, you'll notice schools are starting to trend younger (a prime example is HBS' 2+2 program) so 24-25 is in the sweet spot, thus not young at all. HBS prides itself on accepting over a 1/3 of its last class with less than or equivalent to three years at matriculation. Also, you have to keep in mind you may have to re-take the GMAT/re-apply to school so you want the time to be able to do so. You are not actually as young as you think with regards to b-school (I made the same mistake and wish someone told me when I was 21). Yes, Stanford, Wharton, Kellogg etc sill have average ages at around 26-28, but you are beginning to see these schools trend slightly younger as well, and this will only become more relevant once you are ready to apply in the next 3-5 years..

Speaking from tough experiences, I would certainly take the test now.

I am 27 and have been out for 5 years. I am now needing to learn everything over again, and trying to do it while working well over 40 hours a week. Being in the business world, let's face it you forget most of this type of match as you don't use it in your normal practices. If you were to ever use it, the real world lets you use a calculator to check your arthimetic.

Take it from me you want to get the test out of your system while it is still fresh. Also, I am seeing some colleges I am applying to will accept scores up to 7 years old.
Good Luck!

Thanks very much guys. I appreciate the responses. It means a lot. I had started prepping and a bunch of people were telling me to wait, and I felt like I was doing something wrong. I really didn't know.

Thanks again.