Guys, thanks for the reply.
I'm planning to take the test in Aug, now to maximize the 5 year validity period, is it ok if I take it in Aug? Like can I apply with this score in R1 of 2015 (for 2016 intake)? Are there any of the best schools out there that I'd be missing if I take it in Aug?
I also remember reading that a few schools prefer gmat scores which are less than 3 years old. Do you know of any of the better schools that have that kind of a stipulation?
I know its stretching a little bit, but nonetheless wanted to know.
You will not be able to apply for R1 with a test score taken in Aug 2010. Your score must be valid at the time of deadline and preferably by the time of the decision; scores are now delivered to schools electronically and you never know if for some reason it will just disappear.
Another thought - the GMAT Format will be changed in 2013.
It is not a reason for alarm as your score will be still valid but when applying your score will stand out a lot more as a dated score.
Taking into consideration you are trying to apply in 2015 or 2016, which is quite a bit away, I would suggest to take the test when you decide to apply and for now, just get a summer job or hang out at the beach.
Yes they might ask you to give GMAT again if its on the verge of completion of 5 years.
I would suggest you to give gmatprep and judge your areas required to improve.
Spend 1-2 hours weekly to improve them.
Eg if you are weak in Verbal. Start reading now and by the time you will give your gmat you will be fully equipped with the GMAT.
If you are weak in quant. Start 2 hours/ week for quant.
Do not forget to enjoy and work well at your work. Try to socialize and get involve in co-curricular/social activities.
Golden but free tip
: Start saving the money. Money saved is the money earned.
BB, actually am 2 months into my prep and I most probably will apply in 2013 to go somewhere in 2014. So, I'm guessing its OK to take it now. Can you please confirm that this is absolutely going to be the case and my score will not stand out in any way (except if its a great score
Gurpreet Bhai, Thanks a bunch for your suggestions, all make sense.I know I havent been doing too much out of work the last couple of weeks except study for the GMAT.