Business school is a big decision that many students in the financial industry contemplate at one point or another. However, business school is very expensive and as such it is a big decision to make. Before you even start you must take the GMAT, and that on its own will require much GMAT test prep and long study hours.

So, here is some food for thought to help you decide whether taking the GMAT is right for you:

Should you reschedule your GMAT?

If your GMAT test is already scheduled, you’ve put in the vast majority of your planning time into your GMAT test prep, things are going great, and you’re hitting your objective scores on the GMAT practice test, then you should probably keep your test date. As the truism goes, “On the off chance that it ‘ain’t broke, don’t fix it.” There’s no sense in paying $50 to reschedule your GMAT just with the goal that you can choose a different day, particularly if the current date is working fine and dandy for you. You will never feel fully ready for exam day but putting off your test day when you’ve already spent so much time studying is only postponing what needs to happen anyway.

Have you considered the timing?

If you are considering attending a United States business school but you are not sure when, you need to plan out your GMAT test prep. Upon taking the GMAT your timer will start for how long your score is valid to submit to potential business schools. Your test results are only good for 5 years before you have to retake them, so depending on your age and your long-term plans you may need to plan out your exam schedule.

Pay attention to the total cost of everything.

Remember that the cost of going to business school is not in tuition alone. You also have to calculate the cost of the exam itself as well as any GMAT test prep classes or materials you plan on using. Due to the difficulty of the exam and the level of focus needed, many students do not work while they are preparing for or attending business school. However, after graduating you will most likely increase your average salary at whatever job you are able to get. Even if you decide to enter a non-finance career field, a business degree can help you obtain a job and get paid more for that job.

In conclusion…

Taking the GMAT is a very good option for people who are truly dedicated to attending business school and who are ready to face all of the GMAT test prep required to score well. However, you should take into consideration your personal and financial circumstances to decide if this is the right move for you.

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How to Decide if the GMAT is Right for You

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