For women in business, obtaining an MBA can lead to a salary increase of 35-40% and a list of other career benefits (learn more in The Value of an MBA for Women infographic).
If going back to school to get your MBA is something you want to do, then you’ll most likely have to take the Graduate Management Admissions Test (GMAT) in order to apply to programs at many schools. Even if you’ve taken the GMAT in the past, your scores won’t count if they’re five or more years old.
The GMAT is a four-part, computerized test that takes 3.5 hours to complete. Your score has a direct effect on your acceptance to many programs, so you might want to take time to study in advance. About 20% of test takers retake the test each year. The average point gain for people who retake the GMAT is 33 points.
Retaking the test can improve your score, but keep in mind that schools will see all of your GMAT scores from the past five years when they review your application. You might prefer to invest more time studying up front then depending on retaking the test to increase your score.
Following is a handy infographic that explains all of the basics about the GMAT to help you get started.
Courtesy of: MBAPrograms.org
Susan Gunelius
Susan Gunelius is the Founder and Editor-in-Chief of Women on Business. She is a 30-year veteran of the marketing field and has authored a dozen books about marketing, branding, and social media, including the highly popular Ultimate Guide to Email Marketing, 30-Minute Social Media Marketing, Content Marketing for Dummies, Blogging All-in-One for Dummies and Kick-ass Copywriting in 10 Easy Steps. Susan’s marketing-related content can be found on Entrepreneur.com, Forbes.com, MSNBC.com, BusinessWeek.com, and more. Susan is President & CEO of KeySplash Creative, Inc., a marketing communications company. She has worked in corporate marketing roles and through client relationships with AT&T, HSBC, Citibank, Intuit, The New York Times, Cox Communications, and many more large and small companies around the world. Susan also speaks about marketing, branding and social media at events around the world and is frequently interviewed by television, online, radio, and print media organizations about these topics. She holds an MBA in Management and Strategy and a Bachelor of Science degree in Marketing and is a Certified Professional Career Coach (CPCC).
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