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Question

Hi everyone,

I am currently a grade 12 student but I am the kind of person who likes to plan ahead. I am almost certain that I would like to do my MBA after completing my undergraduate degree in Mechatronics Engineering from the University of Waterloo. I am aiming for a score on the GMAT in the range of 750 in order to be competitive for the top business schools such as Harvard, MIT, Chicago, NYU and Wharton. My undergraduate will take approximately 5 years to complete and I know that GMAT test scores are only valid for 5 years. As such, I want to start preparation now and take my first exam in one year, preferably the summer of 2016. Since I am so new to this and new to standardized testing (Didn't take SATs as I am completing undergrad in Canada), I have a couple of questions.

1. What is the best study plan for me? Am I doing this too early with only high school experience?
2. What study materials should I buy to study?
3. Do business schools, specifically the ones I have listed above, look down on multiple attempts? If so, at what point are your chances of admission decreased? (I have researched this but I seem to have found varying opinions.)
4. Any other suggestions would be greatly appreciated as I have a very long time before applying to business school for MBA, almost 5-6 years. So I am open to any suggestions that you may have.

I request that in answers, you use as many abbreviations as possible so I get used to them such as OG (which I believe refers to the Official Guide however I am not sure) but please make sure you also state the full form so that its clear.

Thank you in advance and sorry if its in the wrong section of the forum.

EMPOWERgmatRichC · Answer

Hi PrecisionFive,

It might be a little early for you to be focusing on the GMAT. Most Business Schools require some type of meaningful work experience (2-5 years) as part of the application process. With the timeline that you're planning, you won't have the flexibility to change your mind without losing the GMAT score that you would earn now (and if you DO change your plans, then you'll have to start the study process over since your GMAT score would expire).

You can do some research now though, if you have a really clear definition of the type of program that you're interested in and what you want out of that specific MBA. You can also contact the Schools directly with questions (although you should probably research the respective websites first).

Another thing to consider is that the Schools you named are all REALLY competitive. Not having work experience might make it difficult for a Business School to choose you over other applicants who have the same scores/profile but ALSO have work experience.

GMAT assassins aren't born, they're made,
Rich

PrecisionFive · Answer

Hi EMPower,

I guess I should have mentioned that through Waterloo Engineering's co-op program, I will graduate in the 5 years with 2 years of work experience. Based on your reply, I see that this is the low end of your range. Do you believe that more than 2 years is required to be a competitive applicant to these schools?

EMPOWERgmatRichC · Answer

Hi PrecisionFive,

While it might be tempting to believe that "more is better", that's not always the case. 2 years of work experience could be just fine....IF the work experience is 'interesting', or involves a 'leadership role', then you might be able to present all of that as a "positive" to the Admissions Committees. Specific work that aligns with the focus of the specific MBA might also work to your advantage, even if you don't have much of it.

Do you have an idea of the type of work experience that you'll be receiving through the Waterloo Co-Op program?

Since we're now starting to talk about Admissions questions, you might also want to ask an Admissions Consult about your situation and the best way to proceed. There's a Forum full of them here:

ask-admission-consultants-124/

GMAT assassins aren't born, they're made,
Rich

PrecisionFive · Answer

Hi EMPower,

That makes sense. I think what I will do in that case is start prepping anyway and take the test at a time which would give me enough time to apply for business school later on such as taking the test in my 2nd or 3rd year of undergrad. But as a person, how I approach any test or exam is to achieve a perfect score even if that seems impossible. Only with that can I actually achieve a really good score and thats why I'd like to prep now unless you feel that prepping too early is actually a disadvantage?

KarishmaB · Answer

I think you would know that GMAT has two main sections - Quant and Verbal.

With an Engineering degree, i think your Quant concepts would be strong. Keep all your high school books for review if needed later. For Verbal, focus on passive learning for the next 3-4 yrs. Read as much as possible - lots of books, national dailies, the Economist, other good magazines.

Alongside, enjoy your under-grad! You will not get this time back and will repent worrying too much! After 4 yrs, you will be all set to take on the GMAT challenge and if you are conceptually good, all you will need is a 3-4 month prep to hit that 750 you are targeting!
Don't take GMAT too early. You don't know what will happen in these 5 yrs. You might get a great, very meaningful job offer immediately after your program and might want to work in it for a year or two before you do MBA. Then your score will elapse and you will have to restart the whole process.

The schools really don't care much about 2-3 attempts since most test takers take multiple attempts but it is good to avoid them. A person with a single score of 760 might be considered a tad better off than a person with 600 - 680 - 760 since the first one might be considered more 'natural' and might be expected to handle the curriculum with less effort. Since you are anyway planning ahead, try to ensure that all you need is a single attempt.

EMPOWERgmatRichC · Answer

Hi PrecisionFive,

If you're adjusting your plan (and looking to take the GMAT in your 2nd or 3rd year), then you really do NOT need to start studying now. Most Test Takers spend 3 months (but sometimes more) on the study process. During that time, studying for the GMAT is similar to a part-time job - you'll likely spend 10-15 hours per week (or more) on the process.

Studying now for a Test that you won't take for a several years isn't a good idea. Karishma brings up a good point about enjoying your undergrad experience. You really only have one opportunity at THAT experience, so you should plan to live that part of your life to the fullest. The GMAT will still be the same predictable, consistent Exam later on when it's time to study for it.

GMAT assassins aren't born, they're made,
Rich

RichEconomistGMAT · Answer

Hi PrecisionFive,

Rich and Karishma have made some really great points here. I'd also like to add that you should also take advantage of the co-op program at Waterloo (I've worked with some great interns who have graduated from UW in previous roles I've held). Don't put too much pressure on yourself to design your entire career path now. Some of the interns I've worked with from UW have found themselves in completely different fields than they originally planned on, so feel free to take it all in before determining too much of your future just yet.

Best of luck!
Rich

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