application part 1: GMAT

This the first in a series of posts that will walk you through how I applied to LFM. I’m certain that my application approach isn’t the only good strategy; in fact, it’s debatable if it was a good strategy at all… however, it’s what I did – take it for what you think it’s worth ;)

I applied through Sloan, which means that I needed to take either the GMAT or the GRE (applicants through the schools of engineering have to take the GRE). I heard that the GRE was a pain, with all sorts of stupid vocab and junk, so I took the GMAT instead.

I took the GMAT in late July, because I figured I’d have to take it 2 or 3 times before I got a score that was respectable (I am WICKED BAD at math). I wanted to give myself some time to get the GMAT sorted out before starting to work on the rest of the application in October. So – if you haven’t already taken the GMAT, do it soon. You have to register first…. Do that here: http://www.mba.com/mba/TaketheGMAT

Turns out my old company, Eli Lilly, paid for GMAT prep classes, so I took a 6 week course to prep. I don’t think it was worth the $1400 that my company shelled out, but it was a really good way to force myself to study. The teacher basically just walked through the coursebook examples, but it was a dedicated time each week to ensure I did the work, so I was glad I took the class.

Regardless of whether you take a class or not, I would DEFINITELY study – there are some tricky things to the GMAT. First, it’s got math and vocab in there that you probably haven’t seen since high school – you should brush up. Also, its computer adaptive test, which was a new experience for me. I was used to filling in little bubbles on paper, not taking a test online. The study book I got (Kaplan) had a practice CD that was very useful in practicing testing in the “computer environment”.

All and all, after all the studying I did, I found the test to be easier than I thought, and was able to improve on my baseline practice score by a considerable margin. I was able to get a score that I was happy with on my first try, so I didn’t have to retake it. Yea!

So…. What is a good score, you might ask? Well, that depends – there are lots of different things that make you an attractive candidate, and the GMAT is only one part of that. What I can say is that the middle 80% of GMAT score for the 2010 LFMs ranged from 640-750, with the average near 700; you’ll probably want to try to get your score in at least that ballpark.

Lots of folks ask me if the math is more important, or if it’s the verbal. I’m not sure how the admissions folks regard the separate sections; I’d imagine that both Sloan and the schools of engineering want bright analytical folks that are also articulate, so I’d strive to get a decent score on both sections.

My personal philosophy is this – your GMAT score is one piece of how you can describe yourself as an attractive candidate to LFM. If you get a 600, it’s not the end of the world - but you will need to show via undergrad transcripts, work experience, and recommendations that you are a bright cookie, who maybe just doesn’t do well on standardized tests. If you get an 800, great - but that doesn’t guarantee you a spot. Admissions is looking for a well rounded individual, so if you’re not active in your community or don’t have good recommendations, this will downplay your amazing score.

That said, I’d try my hardest to do as well as you can – if you do well, then you can just focus on making sure the rest of your applications shines as brightly. If you don’t do so hot, you may want to think about retaking it, so that you don’t have to worry about explaining your score.

Again, these are just my own personal thoughts – I don’t know exactly how LFM admissions decisions are made.

As always, I welcome your comments – if you have any questions about the GMAT testing process, or other admission questions, please post your questions and I’ll answer them as soon as I can!