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24 Jul 2015, 00:40
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The BIG Payout That Can Come Later From Investing in your GMAT Training NOW
In the realm of financial investing, it pays to invest early on. By doing so, the accumulated return over time can be staggering. There are plenty of online articles that can explain the concept in greater detail, but the simple idea is that making some small, consistent investments now (instead of spending that money on other things) will lead to a much greater financial payout later. A similar concept exists when considering your own GMAT prep and what you’re willing to do to raise your GMAT scores.
Everything about the process of applying to Business School and ultimately attending Business School can be appropriately defined as ‘expensive.’ The value of having the MBA is ultimately worth the sacrifice though, as most MBAs make considerably more money than they would if they did not have the MBA. Just as in retirement investing though, the smaller investments you make in your GMAT prep early on can lead to a much BIGGER payout later.
Consider a Business School applicant who attempts to save money by taking a book-heavy study approach to the GMAT and spending as little money as possible on the process. That applicant could assemble a set of used/cheap GMAT books and some other free resources and could conceivably score well enough on the GMAT to get an invite to a Top MBA Program. Without a scholarship though, the cost of attending that Program could easily cost upwards of $100,000+ over time, depending on the Program. By saving a few hundred dollars in the short term (and not investing in some additional GMAT resources), that applicant will end up paying far MORE to earn that MBA later on.
Now consider a different applicant – one who can properly ‘see’ the GMAT for the investment that it is and invests enough into the process. By putting in the extra time and effort, and investing in some additional study resources, that applicant would likely score higher on the GMAT and open up the potential for Scholarship money. Scholarship money depends on the School, the specific Program and some other variables… but at that level, Scholarships come in the thousands or tens-of-thousands of dollars. A Full Scholarship to Stanford GSB would currently amount to approximately $170,000.
Would the potential for THAT type of scholarship be worth an extra $100 or $200 now? How about $300? You shouldn’t need much time to answer those questions.
Just as with financial investments, you have to decide how much you can invest. You’re probably already ‘trading’ your free time on some combination of the following; studying for the GMAT, researching Schools and planning for application deadlines. You’ve likely already spent some money too. All of that is common to GMAT Test Takers; the ‘process’ costs money. The reality though is that it’s all an investment in YOUR future. If you want to increase your chances at getting the BIG payout, you’ll want to invest just a little bit more now.
To that end, we’re here to help.
GMAT assassins aren’t born, they’re made,
Rich
In the realm of financial investing, it pays to invest early on. By doing so, the accumulated return over time can be staggering. There are plenty of online articles that can explain the concept in greater detail, but the simple idea is that making some small, consistent investments now (instead of spending that money on other things) will lead to a much greater financial payout later. A similar concept exists when considering your own GMAT prep and what you’re willing to do to raise your GMAT scores.
Everything about the process of applying to Business School and ultimately attending Business School can be appropriately defined as ‘expensive.’ The value of having the MBA is ultimately worth the sacrifice though, as most MBAs make considerably more money than they would if they did not have the MBA. Just as in retirement investing though, the smaller investments you make in your GMAT prep early on can lead to a much BIGGER payout later.
Consider a Business School applicant who attempts to save money by taking a book-heavy study approach to the GMAT and spending as little money as possible on the process. That applicant could assemble a set of used/cheap GMAT books and some other free resources and could conceivably score well enough on the GMAT to get an invite to a Top MBA Program. Without a scholarship though, the cost of attending that Program could easily cost upwards of $100,000+ over time, depending on the Program. By saving a few hundred dollars in the short term (and not investing in some additional GMAT resources), that applicant will end up paying far MORE to earn that MBA later on.
Now consider a different applicant – one who can properly ‘see’ the GMAT for the investment that it is and invests enough into the process. By putting in the extra time and effort, and investing in some additional study resources, that applicant would likely score higher on the GMAT and open up the potential for Scholarship money. Scholarship money depends on the School, the specific Program and some other variables… but at that level, Scholarships come in the thousands or tens-of-thousands of dollars. A Full Scholarship to Stanford GSB would currently amount to approximately $170,000.
Would the potential for THAT type of scholarship be worth an extra $100 or $200 now? How about $300? You shouldn’t need much time to answer those questions.
Just as with financial investments, you have to decide how much you can invest. You’re probably already ‘trading’ your free time on some combination of the following; studying for the GMAT, researching Schools and planning for application deadlines. You’ve likely already spent some money too. All of that is common to GMAT Test Takers; the ‘process’ costs money. The reality though is that it’s all an investment in YOUR future. If you want to increase your chances at getting the BIG payout, you’ll want to invest just a little bit more now.
To that end, we’re here to help.
GMAT assassins aren’t born, they’re made,
Rich
27 Jul 2015, 00:20
Kudos
Bookmarks
Monday Mail-Bag: Advice on Big Picture Issues That Impact GMAT Test Takers…
This series of emails and PMs focuses on situations that many Test Takers face during their studies. The names of the original posters have been changed to protect their identities.
Steps to Improving CR Ability
Hi Rich, I'm wondering what is the best way to review a CR question. Thanks.
Tau
Hi Tau,
You ask a remarkably broad question, so I'll offer some broad suggestions and work towards specifics...
Things to consider when reviewing CR questions:
1) Did you get the question right or wrong? Just because you got it right doesn't mean that you understood it. Maybe you took a good guess (or even a blind guess). You can't depend on "taking good guesses" as a strategy; on a bad day, you'll get all of those questions wrong.
2) What type of CR question was it?
3) What type of notes did you take?
4) How long did it take to solve it? And WHY did it take that long?
5) What type of logic is the CR prompt built on? Some prompts simply link facts, while others use causality or representativeness (among other things). Understanding the logic behind a prompt should help you to recognize that same logic in other questions.
6) Did you recognize the wrong answers? WHY were they wrong? Can you train yourself to spot THOSE patterns later on (because they will show up again)?
7) Finally, did the approach that you came up with (or were taught) effective in getting you the correct answer. If you've practiced a tactic and it does not seem to help you, then there's nothing wrong with admitting it and changing tactics.
Just Starting GMAT Prep
Rich,
I’ve been away from education for about 7 years now, so. I will have to start everything from scratch. I would like to know what materials are the best to start off with?
Upsilon
Hi Upsilon,
It's useful to test your current abilities early on in your studies (either before you start studying, or just after you’ve begun) so that you can get a sense of your "weak" spots. Take one of the FREE CATs offered through https://www.MBA.com (the download package includes 2 CATs and some practice problems) and see how you do. The score results could be low, but that's okay - it usually takes months to prepare for the GMAT, so your first practice attempt likely won't be great.
3rd Attempt at the GMAT
Dear Rich,
I am currently in the process of studying for my third attempt at the GMAT. Looking back I went into my first attempt ALL WRONG. I tried to cram in about a month and did poorly. I decided to retake the exam only a month later and of course I did worse. Feeling deflated both emotionally and financially I decided I would just put my business school aspirations on hold until I felt a little better about myself.
Flash forward a year later, and I am in a slightly better place with wanting to once again attempt the GMAT. I realize that I was giving myself unrealistic timelines to do what I needed to do and that I was not entering into the testing process with the right mindset. I would greatly appreciate any guidance and/or support on how I can combat my test anxiety.
Phi
Hi Phi,
Don't get too down on yourself. Many Test Takers retake the GMAT and Business Schools really don't care how many times you take the test. With GMAC’s new score reporting rules, if you end up cancelling your score, the Schools won’t even know about it. With this go around, plan on spending a bit more time on your studies and plan a bit better so that you can pace yourself. If you're looking for an elite score, then you might have to work a little harder and/or spend a bit more money. Take advantage of all the free resources that are available to you. The GMAT is predictable. You don't have to "like" what's on it, but with practice, you'll know what's coming and you'll know how to handle it.
GMAT assassins aren't born, they're made,
Rich
This series of emails and PMs focuses on situations that many Test Takers face during their studies. The names of the original posters have been changed to protect their identities.
Steps to Improving CR Ability
Hi Rich, I'm wondering what is the best way to review a CR question. Thanks.
Tau
Hi Tau,
You ask a remarkably broad question, so I'll offer some broad suggestions and work towards specifics...
Things to consider when reviewing CR questions:
1) Did you get the question right or wrong? Just because you got it right doesn't mean that you understood it. Maybe you took a good guess (or even a blind guess). You can't depend on "taking good guesses" as a strategy; on a bad day, you'll get all of those questions wrong.
2) What type of CR question was it?
3) What type of notes did you take?
4) How long did it take to solve it? And WHY did it take that long?
5) What type of logic is the CR prompt built on? Some prompts simply link facts, while others use causality or representativeness (among other things). Understanding the logic behind a prompt should help you to recognize that same logic in other questions.
6) Did you recognize the wrong answers? WHY were they wrong? Can you train yourself to spot THOSE patterns later on (because they will show up again)?
7) Finally, did the approach that you came up with (or were taught) effective in getting you the correct answer. If you've practiced a tactic and it does not seem to help you, then there's nothing wrong with admitting it and changing tactics.
Just Starting GMAT Prep
Rich,
I’ve been away from education for about 7 years now, so. I will have to start everything from scratch. I would like to know what materials are the best to start off with?
Upsilon
Hi Upsilon,
It's useful to test your current abilities early on in your studies (either before you start studying, or just after you’ve begun) so that you can get a sense of your "weak" spots. Take one of the FREE CATs offered through https://www.MBA.com (the download package includes 2 CATs and some practice problems) and see how you do. The score results could be low, but that's okay - it usually takes months to prepare for the GMAT, so your first practice attempt likely won't be great.
3rd Attempt at the GMAT
Dear Rich,
I am currently in the process of studying for my third attempt at the GMAT. Looking back I went into my first attempt ALL WRONG. I tried to cram in about a month and did poorly. I decided to retake the exam only a month later and of course I did worse. Feeling deflated both emotionally and financially I decided I would just put my business school aspirations on hold until I felt a little better about myself.
Flash forward a year later, and I am in a slightly better place with wanting to once again attempt the GMAT. I realize that I was giving myself unrealistic timelines to do what I needed to do and that I was not entering into the testing process with the right mindset. I would greatly appreciate any guidance and/or support on how I can combat my test anxiety.
Phi
Hi Phi,
Don't get too down on yourself. Many Test Takers retake the GMAT and Business Schools really don't care how many times you take the test. With GMAC’s new score reporting rules, if you end up cancelling your score, the Schools won’t even know about it. With this go around, plan on spending a bit more time on your studies and plan a bit better so that you can pace yourself. If you're looking for an elite score, then you might have to work a little harder and/or spend a bit more money. Take advantage of all the free resources that are available to you. The GMAT is predictable. You don't have to "like" what's on it, but with practice, you'll know what's coming and you'll know how to handle it.
GMAT assassins aren't born, they're made,
Rich
31 Jul 2015, 16:07
Kudos
Bookmarks
LEARN TO DESTROY READING COMP & BOOST VERBAL PACING
• “The passage is hard.”
• “I have trouble with RC pacing.”
• “How much time should I spend reading a passage?”
You're looking at a list of three of the most common phrases that have been written in this forum (and in our inbox from visitors who are just starting their training with the EMPOWERgmat Course). If any of these concerns sounds familiar to you, then there is some good news - they CAN be properly addressed. The solution involves clear steps that can be accomplished with focus, discipline, and the right training.
Get A Grip - Put RC Into A Winning Perspective
Interest in the topic of the passage, and in the author's agenda, will help make a significant improvement in how you handle the majority of RC questions. GMAT Test Takers receive four passages on test day, and most Test Takers find at least 3 of the passages to be boring, complex, and/or intimidating. These are all symptoms of a ‘bad choice’ on the Test Taker’s part. For some reason, if a topic doesn't immediately grab a Test Taker, a ‘block’ occurs, and the content becomes painful, anxiety-inducing drudgery.
We can put the GMAT Reading Comp assignment in perspective though. Executing proper RC reading will take you about 16 minutes of total time to read your four passages. Being interested in 4 topics for a total investment of about 16 minutes can radically improve:
• Your GMAT score…and by extension….
• Your chance of admissions
• Your likelihood of getting better financial awards, scholarships, etc.
• Your odds of getting an awesome job offer
• Your income potential (potentially adding millions of dollars in income over your career)
FROM 16 MINUTES!
That overall potential reward is an opportunity of a lifetime. Reading comp isn't something to fear or loathe, it's something to savor and relish. It's one of the greatest deals that life affords us! Be 100% engaged for this brief window of time, and they GMAT will open up an untold opportunity for you. RC is a precious gift, if you make it one.
To properly understand the ‘scope’ of developing the proper RC skills, we have to take a good look at the other (harsh) end of the spectrum: what happens if you hear someone say that they CAN’T be curious about a random array of topics for a few minutes…?
Maybe Business School just isn't right for THAT person. Business School programs will pummel students with a staggering array of Case Studies, lessons and readings right from the outset. Students will be called upon to proffer an opinion in front of classmates. Students will also be assigned to a group of peers and will be responsible to research subjects that many people will likely find un-interesting (unless that same student commits to making the subject interesting…).
The Reading Comp Magic Bullet: INTEREST
So then, the next question is - can you find a way to be passionately interested (and curious) about what the author is trying to convey, regardless of topic? Given all of the potential benefits, the answer to the question should be a resounding YES.
Get into the passages by really trying to connect with the passage and content. By spending more time investing in the passage, and building your RC Ladder, you'll be able to dramatically power through the questions faster AND concurrently boost your accuracy.
You must remember that ‘interest’ is a ‘choice’ – it’s generated by curiosity, and you CAN arouse curiosity about ANYTHING at a moment’s notice. Simply engaging a passage with your own curiosity is a revolutionary force with RC (and can play a role in other aspects of the GMAT, including CR, IR and wordy Quant questions).
So, now that you see the exciting stakes of being an engaged, curious reader, it's probably obvious that with Reading Comp, you HAVE TO take interest in the passage. So how exactly can you do that?
In the EMPOWERgmat Course, we offer a specific, easy-to-use set of tools to mechanize the interest process. Here are some of the ‘elements’ of that process:
Pretend the clock isn't running - That will prevent you from rushing and having to waste time with unnecessary re-reading (to be fair, some re-reading is required, particularly with Detail questions). Under timed pressure, most people instinctively read a little faster, and that extra speed makes the subject matter feel ‘murky.’ The crazy aspect of all of this is if we were to time the actual difference between when you read the passage with (and without) concern for time, the difference is about 15-30 seconds of total time. That's it! The extra time it takes to read a passage the right way isn't as much as it may seem. On top of that, when you factor in the time saved by avoiding most re-reading later on, you will ultimately save LOTS of time by properly investing in that initial read-through.
Be genuinely curious about the topic and the author's perspective - Ask questions, such as: do I agree? Do I disagree? Is that likely to work, or not work? Is this thing any good (or not)?
By reading actively, you'll have TOTAL command of the passage, and the questions will be considerably easier to answer. By investing some more time and energy with the prompt, you'll be able to boost your overall pacing and accuracy.
The Truth About Re-Reading
Some re-reading is OK. However, NEVER, EVER, EVER wait until you're deep into the passage before you realize you haven't connected with the prompt. If necessary, start over as soon as you can. If you ever feel as though the first sentence is getting away from you, start over. Trying to continue on as though everything is just fine will lead to a total waste of time, a lack of that solid understanding you need, and a lack of confidence when you move to the questions. Nearly all Verbal 99th-percentilers will admit to feeling a bit lost after the first sentence (or two) on certain passages. They then STOP and reread (rather than letting a whole paragraph or passage go by in the foolhardy hope that it'll just somehow magically crystallize). You have to invest in the passages, and you have to do so from the start. Again, you'll more than make up that time with the questions since they'll be easier to deal with. You'll not only be more efficient, but also more effective.
Other Essential RC Skills
• Can you identify each question type within RC (and CR)? You need to be able to.
• Do you know EXACTLY what type of information each question type requires of you? You need to.
• Can you spot the common wrong answer types in RC and CR? Needless to say, that skill becomes far more valuable in subtle or difficult questions.
• DON'T read to retain the details. Read to know the role the details play in the passage (eg. The author just provided 2 examples of the implementation of a certain policy; here, we have a description of an outdated model and reasons why it’s outdated, etc.).
Want to Change? What you need to demand of yourself:
I also like to stress that you have to see yourself as training for the GMAT rather than just studying for it. The GMAT is an event that you need to rehearse for, so it's not just about what you know, it's also about the work that you do and how you think. That's why you're going to want to be OBSESSED with your training to be able to apply the EMPOWERgmat tactics during your practice and on the real GMAT.
You need to TRAIN to possess an assassin's intensity with every passage you read. It's a decision within your power to make, using the tools above (along with others that you can train to master). For more on how to train (rather than just study) for the GMAT, see these EMPOWERgmat Articles:
Verbal Advantage: GMAT Assassin's Manifesto - Master Content & Tacticshttps://gmatclub.com/forum/verbal ... 98768.html
Verbal Advantage - Manifesto Pt. II: The 90th Percentile Mindsethttps://gmatclub.com/forum/verbal ... 00155.html
We look forward to helping you crush the GMAT and get you ready to apply to your target schools!
Click "Follow" for more GMAT Club Fresh Verbal GMAT questions, and articles.
“Students study. GMAT Assassins Train.”
Max Peterson
Co Founder | EMPOWERgmat
EMPOWERgmat.com
• “The passage is hard.”
• “I have trouble with RC pacing.”
• “How much time should I spend reading a passage?”
You're looking at a list of three of the most common phrases that have been written in this forum (and in our inbox from visitors who are just starting their training with the EMPOWERgmat Course). If any of these concerns sounds familiar to you, then there is some good news - they CAN be properly addressed. The solution involves clear steps that can be accomplished with focus, discipline, and the right training.
Get A Grip - Put RC Into A Winning Perspective
Interest in the topic of the passage, and in the author's agenda, will help make a significant improvement in how you handle the majority of RC questions. GMAT Test Takers receive four passages on test day, and most Test Takers find at least 3 of the passages to be boring, complex, and/or intimidating. These are all symptoms of a ‘bad choice’ on the Test Taker’s part. For some reason, if a topic doesn't immediately grab a Test Taker, a ‘block’ occurs, and the content becomes painful, anxiety-inducing drudgery.
We can put the GMAT Reading Comp assignment in perspective though. Executing proper RC reading will take you about 16 minutes of total time to read your four passages. Being interested in 4 topics for a total investment of about 16 minutes can radically improve:
• Your GMAT score…and by extension….
• Your chance of admissions
• Your likelihood of getting better financial awards, scholarships, etc.
• Your odds of getting an awesome job offer
• Your income potential (potentially adding millions of dollars in income over your career)
FROM 16 MINUTES!
That overall potential reward is an opportunity of a lifetime. Reading comp isn't something to fear or loathe, it's something to savor and relish. It's one of the greatest deals that life affords us! Be 100% engaged for this brief window of time, and they GMAT will open up an untold opportunity for you. RC is a precious gift, if you make it one.
To properly understand the ‘scope’ of developing the proper RC skills, we have to take a good look at the other (harsh) end of the spectrum: what happens if you hear someone say that they CAN’T be curious about a random array of topics for a few minutes…?
Maybe Business School just isn't right for THAT person. Business School programs will pummel students with a staggering array of Case Studies, lessons and readings right from the outset. Students will be called upon to proffer an opinion in front of classmates. Students will also be assigned to a group of peers and will be responsible to research subjects that many people will likely find un-interesting (unless that same student commits to making the subject interesting…).
The Reading Comp Magic Bullet: INTEREST
So then, the next question is - can you find a way to be passionately interested (and curious) about what the author is trying to convey, regardless of topic? Given all of the potential benefits, the answer to the question should be a resounding YES.
Get into the passages by really trying to connect with the passage and content. By spending more time investing in the passage, and building your RC Ladder, you'll be able to dramatically power through the questions faster AND concurrently boost your accuracy.
You must remember that ‘interest’ is a ‘choice’ – it’s generated by curiosity, and you CAN arouse curiosity about ANYTHING at a moment’s notice. Simply engaging a passage with your own curiosity is a revolutionary force with RC (and can play a role in other aspects of the GMAT, including CR, IR and wordy Quant questions).
So, now that you see the exciting stakes of being an engaged, curious reader, it's probably obvious that with Reading Comp, you HAVE TO take interest in the passage. So how exactly can you do that?
In the EMPOWERgmat Course, we offer a specific, easy-to-use set of tools to mechanize the interest process. Here are some of the ‘elements’ of that process:
Pretend the clock isn't running - That will prevent you from rushing and having to waste time with unnecessary re-reading (to be fair, some re-reading is required, particularly with Detail questions). Under timed pressure, most people instinctively read a little faster, and that extra speed makes the subject matter feel ‘murky.’ The crazy aspect of all of this is if we were to time the actual difference between when you read the passage with (and without) concern for time, the difference is about 15-30 seconds of total time. That's it! The extra time it takes to read a passage the right way isn't as much as it may seem. On top of that, when you factor in the time saved by avoiding most re-reading later on, you will ultimately save LOTS of time by properly investing in that initial read-through.
Be genuinely curious about the topic and the author's perspective - Ask questions, such as: do I agree? Do I disagree? Is that likely to work, or not work? Is this thing any good (or not)?
By reading actively, you'll have TOTAL command of the passage, and the questions will be considerably easier to answer. By investing some more time and energy with the prompt, you'll be able to boost your overall pacing and accuracy.
The Truth About Re-Reading
Some re-reading is OK. However, NEVER, EVER, EVER wait until you're deep into the passage before you realize you haven't connected with the prompt. If necessary, start over as soon as you can. If you ever feel as though the first sentence is getting away from you, start over. Trying to continue on as though everything is just fine will lead to a total waste of time, a lack of that solid understanding you need, and a lack of confidence when you move to the questions. Nearly all Verbal 99th-percentilers will admit to feeling a bit lost after the first sentence (or two) on certain passages. They then STOP and reread (rather than letting a whole paragraph or passage go by in the foolhardy hope that it'll just somehow magically crystallize). You have to invest in the passages, and you have to do so from the start. Again, you'll more than make up that time with the questions since they'll be easier to deal with. You'll not only be more efficient, but also more effective.
Other Essential RC Skills
• Can you identify each question type within RC (and CR)? You need to be able to.
• Do you know EXACTLY what type of information each question type requires of you? You need to.
• Can you spot the common wrong answer types in RC and CR? Needless to say, that skill becomes far more valuable in subtle or difficult questions.
• DON'T read to retain the details. Read to know the role the details play in the passage (eg. The author just provided 2 examples of the implementation of a certain policy; here, we have a description of an outdated model and reasons why it’s outdated, etc.).
Want to Change? What you need to demand of yourself:
I also like to stress that you have to see yourself as training for the GMAT rather than just studying for it. The GMAT is an event that you need to rehearse for, so it's not just about what you know, it's also about the work that you do and how you think. That's why you're going to want to be OBSESSED with your training to be able to apply the EMPOWERgmat tactics during your practice and on the real GMAT.
You need to TRAIN to possess an assassin's intensity with every passage you read. It's a decision within your power to make, using the tools above (along with others that you can train to master). For more on how to train (rather than just study) for the GMAT, see these EMPOWERgmat Articles:
Verbal Advantage: GMAT Assassin's Manifesto - Master Content & Tacticshttps://gmatclub.com/forum/verbal ... 98768.html
Verbal Advantage - Manifesto Pt. II: The 90th Percentile Mindsethttps://gmatclub.com/forum/verbal ... 00155.html
We look forward to helping you crush the GMAT and get you ready to apply to your target schools!
Click "Follow" for more GMAT Club Fresh Verbal GMAT questions, and articles.
“Students study. GMAT Assassins Train.”
Max Peterson
Co Founder | EMPOWERgmat
EMPOWERgmat.com
