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Hi abirdey1,

The GMAT is a remarkably consistent Exam, which is why scores are valid for 5 years (and those scores are comparable to one another over that time period). It would be strange for a School to 'prefer' applicants who submit scores that are 2-3 years old - so what was the exact "source" that told you this?

Broadly-speaking, you should plan to take the GMAT when you have the proper amount of study time available to commit to the process of training to take the Exam. Whether that's now or August or next year (or even later) depends on your availability to study, your progress and your goals.

GMAT assassins aren't born, they're made,
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I cannot specifically reveal the "source", it is a very well known GMAT coaching institute and they also provide admission consulting services.
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Hi abirdey1,

The GMAT is a remarkably consistent Exam, which is why scores are valid for 5 years (and those scores are comparable to one another over that time period). It would be strange for a School to 'prefer' applicants who submit scores that are 2-3 years old - so what was the exact "source" that told you this?

Broadly-speaking, you should plan to take the GMAT when you have the proper amount of study time available to commit to the process of training to take the Exam. Whether that's now or August or next year (or even later) depends on your availability to study, your progress and your goals.

GMAT assassins aren't born, they're made,
Rich
I cannot specifically reveal the "source", it is a very well known GMAT coaching institute and they also provide admission consulting services.

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abirdey1
I am going to take GMAT by August with one year of work experience. Is it a good idea to apply for bschools 3 years later? I have heard that most b-schools prefer 2-3 years older scores and not more than that. I have decent acads, not stellar.

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It is a good time to take GMAT. It has not been very long since you left college so you would not have forgotten how to study! It may sound odd but it is true. People with more work experience find it harder to hit the books. So take the GMAT now and the score will be valid for 5 years. The current trend favours doing MBA after 2-3 years of work ex. The average age of incoming classes is reducing.
So it should work out well for you.
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I disagree with the above, for what it's worth. Whereas it makes sense to take the test right out of college, so the quant is forefront in your mind, most people, in my experience, actually do MUCH better on verbal after being out in the world for a few years, and in the end, after 2-3 out, end up with a higher score.

Schools want to know that if they admit you, you can do the work. Whereas all schools will, of course, accept an older score, a more recent score, in the adcom's eyes, actually has more weight.

It means you can do the work NOW, and that's what's important to them. Speaking from experience....