09/03/2023
How to self study to 700 for the GMAT
# # # Why you need the GMAT
The GMAT stands for Graduate Management Admission Test. It has been the de-facto standard admission test to US and worldwide business schools for decades. Recently, and further nudged by the COVID pandemic, the authority has moved to:
- Make online test taking more streamlined and available
- Make the GMAT optional, at least on paper, for many MBA schools including very good ones
However, the second point above is subtle. Optional often means that instead of specifying the GMAT, schools allow candidates to choose between GMAT and GRE. In other cases, the language is typically cryptic. After all, what should a candidate make of "we consider your application holistically and you are encouraged to submit a standardized test score if you believe it should enhance your application"? For international students, it is best to assume that you will need to prove yourself worthy using any metric available, and thus standardized test is practically a must. Considering that you are competing with BOTH local westerners with proven and well understood backgrounds AND international students with varied and interesting backgrounds, it becomes mandatory to score well on the GMAT if you wish to secure any kind of merit-based scholarship for b-school.
# # # Why you should be able to self study for the GMAT
The GMAC did a survey in 2018 and the result showed that there's a correlation between number of hours spent studying and self-reported scores. The consensus seems to be 90 hours or more for >700 score. Divide this over 3 months and it comes to about 2.5 hrs / day for a 3-days-a-week study schedule. This turns out the be the ideal schedule for a working young professional. Given that you have time commitment during the day, this estimate shows the kind of effort and timeframe you need in order to get a good score.
More importantly, there is nothing in the GMAT that you haven't studied in highschool or first year of college. In terms of knowledge content, the GMAT just covers high school mathematics and (a hefty dose of) fundamental English language grammar, basic critical thinking patterns and basic summarizing and synthesizing skills. That is to say, there should be no reason why you need to invest thousands of USD into buying expensive GMAT prep books from Manhattan or many extensive GMAT prep courses advertised on the internet. Of course, the GMAC wants to make the exam as difficult as possible, justifying its role as gatekeeper and the hefty $275 exam price tag that you have to pay. It is education as a business 101: creating admission standards and monopolizing on an exam to test said admission standards. Having said that, there exists excellent comprehensive free resources, and with good discipline you should be able to self study to a good score.
# # # How to self study for the GMAT
To self study for the GMAT, you just need the right book(s) and processes. Firstly, the resources you really need are:
- Official Guide (OG) Books (https://gmatclub.com/forum/gmac-official-guides-the-master-directory-240610.html): give you all the questions you need for practice. Don't spend any money on non-OG books. They are not worth it
- Gmatclub account: even a free account gives you access to all OG questions from all years + extensive support from the forum. The best (free) resource out there.
Ok, now you are wondering: what about study guide / curriculum? How are you going to get structure and feedback? I guess that's where tutors and courses come in. In any case, even with the 2 resources above and some research, you should be able to see for yourself the key topic areas tested on the GMAT. Again, because there is no new knowledge in the GMAT, you should be able to Google any gap in your knowledge.
In addition to the right book(s), you need the right study process. These are the practices I followed on my way to a 750 score:
- Have a brief outline of the topics / key areas tested. This gives you a map so that, as you do practice questions, you know what you need to read up on if you keep getting the wrong answer.
- Practice in chunks and by topic: on test day, you will sit for a 3 hours exam. So don't have bite-size practice sessions. Do questions in sets of 30 or 40 and by topic areas so that you get used to the mental durability required.
- Keep a journal and an error log: absolutely crucial. These are the most important steps if you are going to self study.
The error log, as the name suggests, just logs short notes on wrong answers or lucky guesses. You should then "journal" upstream, meaning summarize and note the overall pattern or the topic(s) which cause trouble. The error log only needs to be an excel file with the correct tagging for each question from the OG. Check the OG Error logs from gmatclub (https://gmatclub.com/forum/error-log-for-gmat-official-guide-295343.html).
The journal does not have to be anything complicated. The format can be as simple as:
-- Date.
-- Section (SC / CR / RC / Quant).
-- Topic / subtopic: your note on learning / reflection and patterns recognized.
This error logging / journaling step is crucial in helping you get value out of your practice sessions. They are you deliberate practice tools.
That is all really. If you can do the above well, you can ace the GMAT in 2-3 months. Don't let your study period prolong for any more than 3 months, since it would drag on for too long and you will get tired of it. But of course, if that sounds like too much work and you think you'd do better with guidance, that's when studying with a tutor like me who have gone through all the effort becomes valuable.
Good luck and till next time!
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