I have recently spoken to a senior of mine regarding the right time for taking up the GMAT exam.
I have preferred to give the GMAT while I am in the undergraduate years and more used to taking examinations. My senior has said that the top 30 to 40 business schools in the US accept a GMAT score which is at most 2 years old or younger. So would it be advisable to take the GMAT in my 3rd year of engineering and then apply to schools after 2 years of work experience when my GMAT score would be 3 years old or take up the exam while working itself?
GMAT scores are good for five years. So as long as your score is good by the time you enroll, you're good. I suppose schools may look at a more recent score more favorably. But a score is a score and the GMAT is just one component of your application. If you have a specific question about that, I would email the school directly ask them how they feel.
You should take the GMAT when you feel you have enough time. Yes, it's hard to balance studying and working, but it's hard to balance anything with your full time job. Also, it's hard to advise you without knowing how much you need to improve and what your target it. If your practice tests are at 500 and you want a 750, then you'll need a lot of time. But if your practice is at 680 and you just want to break 700, then you probably won't need as much time. However, I'd say that if you feel that you can fit in 8-10 hours a week of studying for about a couple months, then it's the right time to take the GMAT.
I am currently in the second year of my engineering so I haven't started off with any kind of preparation since I am still trying to figure out the right time to give the exam. The only thing that i wanted to know is that, do the schools not prefer students whose GMAT score is about 3 to 4 years old?
Because if I give my GMAT in the third year of engineering and then go for 2 years of work experience after BE, my score will then be 3 years old if I wish to apply at that time. So, do schools prefer students with a younger GMAT score or will my 3 year old score be good enough at that time?
I understand that the score is just one component of the application but it is also the most important one. Just that I want to make sure that I give the exam at the right time.