GMAT, to be or not to be?

An university usually has many schools - e.g. school of computing, school of arts and social sciences, etc. "B-sch" refers to the business school within the university. For MBAs, when people compare between universities, they are actually comparing between the B-schs within the universities.

"does the school truly matter though where I get my degree?"
Are you asking whether it matters where you get your MBA from? I think it does, to a certain extent. Different B-schs have different faculty, participants, alumni, reputation etc. These would affect one's learning experience and future network.

thank you very much for your feedback

I think it matters a lot to some people and less to others. It depends on what your goals are after you graduate.

For example, if you want to stay with your current company but you just need the general business knowledge to get a promotion or improve your management skills, then it probably matters a lot less where you get your degree, and you're best off chosing a school that has courses that specialize in your field.

If you want to get hired by a top consulting or investment firm, then recruiting falls off sharply outside the ultra-elite schools. Then, a degree from Wharton or Harvard will mean a lot more than a degree from your neighbourhood MBA program. Of course, it's a lot harder to get in, and a lot more expensive... but the idea is, if you're going to go into one of those fields, the investment in the top program is worth it.

Remember, it's about a lot more than simply what you learn in class... it's also about the school branding, the companies who recruit graduates, and especially the networking opportunities. Your chances of success improve just by once having drank beer in a dorm room with future CEOs and executives. If you're planning on going into business for yourself, the connections you make at a top-tier school can be invaluable.

Also, geography matters. Outside the ultra-elites, many schools have strong regional reputations. If you want to build a career in the southwest, for example, going to school on the east coast is probably not a great idea.

Hopefully that gives you a broad overview... the rest is up to you.

As a matter of fact, next to all top tier IB ask for your gmat score in their application.

clf: thank you for your detailed feedback.
i was told the same thing last night by a friend as well.
i recieved my two previous degrees from a smaller university, and it sucks in a way that barely anyone has heard of the school.
i did want to apply to a more elite B-school but i'm frustrated about the gmat and very apprehensive. as much as i want to move up in a managerial position and have my own firm, i've never weighed too much on the school name...but the networking advantages are what i would like to gain.
i will take in consieration what you wrote and continue to ask around.

thank you once again