Graduate Management Admission Test (GMAT) is an entrance test for most management & related courses in the US, Europe, Canada, Australia etc. Most executive MBA programs in premier institutes in India also require GMAT score. It is the most sought-after and trusted exam for more than 7,000 business and management programs worldwide.
Management is the most attractive career today. A number of students in the country pursue their degree in business and other management related programs from foreign shores. Such education has multiple advantages. In terms of destinations, USA is the most preferred destination for Indian students. Countries like Australia, UK, France, Canada, New Zealand etc. also figure permanently on the radar of students.
Master of Business Administration is a stepping stone for candidates to enter the corporate world at management and leadership levels and give their career advancement and professional growth. To do an MBA degree from a good college abroad, you must take the GMAT test. However, in some countries admission can take place on the basis of the IELTS test score. Most of the good colleges abroad demand at least 2 years of work experience after graduation. For GMAT, a score of 760+ is considered as excellent and between 650 & 750 is considered as a very good score.
One year full-time Executive MBA programs are gaining high popularity among working professionals in India. MBA has gained popularity in the recent past and has become an initial step to acquire a lucrative job. Though Indian School of Business was first to start the executive MBA program in India, today most of the top notch and other prestigious B-Schools offer these programs. In India, most of the executive programs require minimum 2 to 5 years of work experience after graduation. Typically the course duration is 12-15 months. The fee for most of these programs ranges from 10 to 20 Lakhs for the entire course.
Most of the B- schools which run Executive MBA Programs in India consider GMAT score along with some other factors such as quality & nature of work experience, past academic & extracurricular performance, quality of application essays etc. for shortlisting a candidate.
NMAT by GMAC
NMAT is a computer-based test and was acquired by GMAC from NMIMS (Narsee Monjee Institute of Management studies) in March 2015. NMAT by GMAC is conducted by Pearson VUE. It is conducted across 35 locations in India, and the aspirants have the right to choose their own exam venue, date & time as per the convenience. Three attempts of NMAT by GMAC are allowed out of which the best of the three scores is considered for admission.
NMAT by GMAC registration fee includes upto 7 institutes/programmes. NMAT by GMAC is probably the first exam that has the exam conducting body offering the test-takers the facility to finance their MBA degree. NMAT by GMAC test takers will now have the facility to finance their programme through HDFC Credila Financial services private Limited.