Tuesday, March 31, 2009

A Strange GMAT Incident

On the GMAT site it says :

“On occasion, weather conditions or other circumstances beyond the test administrator's control may require a delayed start or the rescheduling of your test appointment. If technical problems necessitate canceling your test session or prevent reporting of your scores, you will either be offered the opportunity to schedule another test appointment free of charge or receive a full refund of the original test fee. These remedies are the exclusive remedies available to examinees affected by technical problems” http://www.mba.com/mba/thegmat/testday/testcenterregulations.htm

The night before the GMAT, I was going through the site to ensure that I have followed everything to T. I came across this para and I wondered for a second what would happen if I encounter a technical problem that day.

Then, I went to check my GMAT test ID online. That’s when I discovered a strange thing. My test ID was not there……. It said that I had cancelled my exam. I was baffled. It was 2230hrs and I could not call the helpdesk to ask. I refused to panic. My exam was scheduled for next day at 1330hrs. I checked my credit card statement and the money was not refunded. I could not sleep the whole night wondering what had happened. Next day I woke up at 0600hrs to call up the Australia helpdesk number. They are 5 ½ hours ahead of Indian Standard time. The person who took my call checked their records. Rest-assured the money had been debited, but he had no clue how the system had cancelled my exam. …..:)…… He told me that I cannot take the exam that day but he will check with his supervisor as to what should be the next step. In the history of GMAT, this had apparently happened for the first time!!!!

I called and called and called. Finally after several days I was asked whether I wanted my money to be refunded or should they reschedule my exam with no extra cost (obviously!!!!). Again……Obviously!!!........ ;)….. I asked them to reschedule my exam.

That’s my strange incident with GMAT.
Apparently, what had never happened before happened to me. 

Please note

Please note that when you read an “I” somewhere in my blog, it would normally mean a “We” or “D+G”….. and at times "more of G than D”…….:)

GMAT & Princeton Review

Go to http://www.mba.com/mba/thegmat to answer all your queries regarding GMAT. This will also help u schedule a date for GMAT.

Remember, GMAT is an important consideration for applying to a MBA program, but it is not the only important consideration. If your luck fizzles out on that day, don’t worry. Give it again if you want. Else, try to work on your essays to ensure that you play your other strengths well.

Timing
Ensure you are done with you GMAT by August. That will give u sufficient time to polish your essays and send official scores to different colleges. My first deadline was September 15th ISB.

Re-taking GMAT
Below 600 > If you luck-out on GMAT day, I would realistically ask you to re-take GMAT. Specially if you are aiming for the top 20. Work on your weak points, revise your OG and give lots n lots of tests in the real GMAT environment (AC, closed room, no phones etc)
Between 600- 640 > you have a long shot but u might just make it if you are really strong on other areas. For an Indian IT male, chances are slimmer than others. There are enough out there with better scores, you might have to re-take the exam.

Shortlist Colleges
Ensure you have decided on 5 colleges by the day of your exam. You can send your score free to these colleges. Later you will have to shell out money to do so.

Passport
Please please please don’t be irresponsible and forgetful. Take your passport to the exam center. They will NOT let you to take the exam without it.

Princeton Review
Personally, I knew I needed a sword to hang over my head to prepare earnestly. I estimated that I need roughly 3 months to study. Therefore, I scheduled a date and then enrolled in Princeton review classes, Gurgaon, India. They may be other institutes offering more tests or classes but Princetone review is definitely superior. In retrospect, I think it was wise to join Princeton review. With my hectic work/social calendar it was not possible to study each day. With weekend classes, I had no choice but to take out time and finish my assignments and give sample tests. :) The money was definitely well invested in my future. The course material is exhaustive. And one does not have to buy and study anything beyond what Princeton Review has to offer. They have a rotating faculty concept. So each faculty member has to teach at most of the coaching institutes around NCR. Plus they are made to give actual GMAT exams each year. My Verbal Coach – Ruchi had doing M.Tech in Aeronautical Engineering and had secured a place in NASA to be taken up sometime in 2009. She had scored 800, 800 and 780. When she got 780 she had to undergo re-training to ensure her standards don’t fall :P. Similarly for our Maths Coach – Shruti. She got perfect scores for three years running. That is the level of facult @Princeton Review.

Preparation Tips

1) Relax - GMAT is not a difficult test
2) Three months of preparation is normally sufficient
3) Practice OG well
4) Undertake a lot of Practice tests in real time environment (AC room, no interruptions, no phone)

Online Tests
http://www.princetonreview.com/business/free-gmat-practice-test.aspx
http://www.kaptest.com/Business/GMAT/Practice-for-the-GMAT/GMAT-Practice-Questions/BU_gmat_qproblem.html?cid=134353
http://www.petersons.com/testprep/practice_test.asp?id=1727&sponsor=1&path=gr.pft.gmat
http://www.manhattangmat.com/
http://www.800score.com/download4.html

Short listing MBA colleges

This is an intense exercise……. A lot of factors have to be taken into account…….. I will explain my reasons for selecting Judge………http://www.jbs.cam.ac.uk/mba/index.html

1)Ranking > Although MBA rankings aren't the only measure of a good MBA school but they are certainly a good indicator. I researched colleges which were consistently in top 20 (Financial times)….. There were other rankings like Business week etc as well
http://rankings.ft.com/businessschoolrankings/global-mba-rankings
2)Time > I was only keen on one year programs , therefore USA was ruled out immediately
3)Course > Some colleges are great in Finance, some in marketing (HEC), some in entrepreneurship (IE, Judge) so on and so forth……. I looked into courses for enterprneurship, so here I am……
4)Practical teaching/learning style> electronic text books, Chance to learn practically thorough Cambridge venture projects, global consulting projects and individual projects (learn more on Judge website)
5)Alumni > Needless to say Cambridge has a huge alumni network 
6)Cambridge Business Networks > Silicon Fern, Cambridge University Enterprise, Centre for Entrepreneurial Learning (CfEL), Cambridge-MIT Institute Venture, Cambridge Enterprise, Cambridge Network, Cambridge Programme for Industry (learn more on Judge website)
7)International Diversity > Out of 150 students, there are 50 nationalities

Enough???? :) …….Besides, Judge I had applied to ISB & Said……

Now for those considering non-US colleges in FT Top 20….. “my opinion” is

1)IE is a great college…… Spanish might be a problem……… But take it as a chance to learn a new language…….. very strong on entrepreneurship again…….Asian influence low
www.ie.edu/
2)IESE - It's a two year program and very expensive
www.iese.edu/
3)HEC – 16 month program, great in marketing
www.hec.edu/
4)INSEAD – immense diversity, great college
www.insead.edu/mba/index.cfm
5)Ceibs – Don’t know
www.ceibs.edu/
6)ISB - I had an admit offer from them, but chose Judge for reasons listed above….
www.isb.edu/
low on diversity … India factor…. placements have been bad this year…….. last week “my sources” told me that only 40% of the current batch was placed…..
7)IMD – awesome college…….. just 90 students batch…… highly diverse ……
www.imd.ch/
8)Hong Kong UST Business School – don’t know
www.bm.ust.hk/
9)LSB – great program, but long and very expensive
http://www.london.edu/index.html

In the end, I would suggest that you apply to only 3-5 colleges....... each application requires a lot of effort and after 5 applications (gawd! i nearly died with just 3) you might not have it in you to give your best.....

one flies as high as one aims, but dont forget to be realistic about your chances....

First Step - Decide if you want to do a MBA or not

Yep….. this is first n the foremeost step……… for an Indian, engineer & IT background MBA is a natural step towards career progression…….But if you are not the typical Indian IT geek, I suggest that you explore all options before you decide………. applying/ for a MBA program is not cakewalk…….and the actual MBA program is even more gruesome....

Everyone need to understand that if after graduation doing masters is a MAJOR decision one takes……………. then after 5-7 years of professional life, marriage n maybe kids doing masters is a LIFE CHANGING decision…….. So be absolutely sure!!!!

Take your time and think about it!!!!