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GMAT Student Trends: What Do Your Fellow Test-Takers Want To Do With Their GMAT Score?

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Yesterday, the Graduate Management Admissions Council (GMAC, the organization that makes the GMAT) released its annual mba.com Prospective Students Survey, a wide-ranging study of nearly 12,000 prospective GMAT-takers and graduate-school-applicants. While this survey is designed primarily to target the needs of graduate schools, there are some interesting data points that you, the aspiring student, may want to know.

Why do people want a graduate business degree?

The survey identified three main groups of people:

Career switchers (38% of respondents): these prospective students are looking to switch industries or job functions and hoping that a graduate degree will give them the boost they need to make the change successfully. People in this group are more likely than the overall pool of respondents to be age 24 or older and living in the U.S. or Canada. The size of this group has dropped by 8 percentage points in the last 5 years, perhaps not surprising as the economy has picked up since 2010.

Career enhancers (34%): these prospective students are seeking a graduate degree primarily to enhance their existing careers, whether planning to keep their current jobs or move to a new employer. People in this group are more likely than the overall pool of respondents to be female, under the age of 24, and living in Asia-Pacific, Europe, or the U.S. The size of this group hasn’t changed much in the past 5 years.

Aspiring entrepreneurs (28%): these prospective students hope to start their own businesses, possibly even before they earn their degrees, though only about 10% have already started businesses. People in this group are more likely than the overall pool of respondents to be male and living in the Middle East, Africa, Central or South Asia, or Latin America This group increased by about 9 percentage points in the past 5 years.

These three groups show some very interesting regional differentiation:Distribution of Career Goals by Region

What does that mean for you? First, it’s just interesting to know. :) Second, it gives you a sense of whether you are coming from a more “common” demographic or whether you will stand out more from the crowd. If the former, then you’ll want to look for other ways to make your story stand out.

Want kind of degree do people want to get? What kind of program do they want to attend?

The survey includes some very interesting data about the types of degrees people want. First, let’s address the two main categories of degrees: MBA and specialized. A little over half of the respondents were firmly focused on MBA degrees, while about 22% said that they want a specialized degree (such as a Master of Finance). The remaining 26% were considering both types of programs (it was unclear whether they are considering getting a dual degree or whether they just haven’t made up their mind about which type of degree to get).

Check out the graph below. Of the people considering only an MBA program, about 32% were most interested in a full-time 2-year program and 27% were aiming for an accelerated full-time 1-year program. For those considering only a specialized degree, Master of Accounting and Master of Finance programs are by far the most popular programs.Top Preferred Program Type

The report did not indicate what these numbers looked like in the past, but I would speculate that more people today are interested in a shorter study timeframe than 5 years ago. As the economy picks up, people don’t want to spend a full 2 years out of the work force, particularly those who are looking to stay in the same industry after graduate school. (This is just my anecdotal take based on the questions and comments I hear from students in my classes and on our forums.)

The below data reflects two combined categories: those who know they want a specialized degree and those who are still considering both types of degrees. There are distinct preferences by region for the two most popular specialized degrees.Master of Accounting and Finance Preferances

There’s strong interest in a Master of Finance degree in Asia-Pacific and Europe. Those considering a Master of Accounting degree are most likely to live in the Asia-Pacific region or the U.S.

Want to read more?

If you’d like to read more, hop on over to the GMAC website and download the full report. If you have any interesting insights to share, or want to discuss something you find intriguing, let us know in the comments!

 

The GMAT® is property of the Graduate Management Admissions Council. All data cited is from GMAC’s 2015 mba.com Prospective Students Survey.

GMAT, GRE, and LSAT Instructor Auditions: Decision In A Day (NYC April 12th)

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Manhattan Prep offers instructors flexible hours and great pay ($100/hour for all teaching and $116/hour for all tutoring). As a Manhattan Prep instructor, you will have autonomy in the classroom, but you will also be joining an incredibly talented and diverse network of people. We support our instructors by providing students, space, training, and an array of curricular resources.

Our regular instructor audition process, which consists of a series of videos and mini lessons, usually takes weeks, even months, to complete. Through this process we winnow an applicant pool of hundreds down to a few people each year.

We are offering a one-day event on April 12th for teachers interested in working with us. Candidates who attend will receive a decision that day. The event will take place at our company headquarters at 138 West 25th St., 7th Floor, in Manhattan, New York City.  It is open to candidates who live in the tri-state area, have taught before, and are experts in the GMAT, LSAT, or GRE.

The day will include several rounds of lessons, as well as other activities. Each round will be pass / fail. The day will begin at 10:30 am. It may last as late as 5:30 pm for those who make it through the final round. Candidates will need to prepare lessons for some rounds; we will send more detailed instructions to candidates when they sign up for the event.

To register, please email Yanilda at auditions@manhattanprep.com by Wednesday, April 12. Please include in your email a resume including your teaching experience and a score report.

Manhattan Prep’s Social Venture Scholars Program Deadline: March 27

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free-gmat-classDo you work for a non-profit? How about promote positive social change? Manhattan Prep is honored to offer special full tuition scholarships for up to 16 individuals per year (4 per quarter) who will be selected as part of Manhattan Prep’s Social Venture Scholars program. The SVS program provides selected scholars with free admission into one of Manhattan GMAT’s Live Online Complete Courses (a $1299 value).

These competitive scholarships are offered to individuals who (1) currently work full-time in an organization that promotes positive social change, (2) plan to use their MBA to work in a public, not-for-profit, or other venture with a social-change oriented mission, and (3) demonstrate clear financial need. The Social Venture Scholars will all enroll in a special online preparation course taught by two of Manhattan GMAT’s expert instructors within one year of winning the scholarship.

The deadline is fast approaching: March 27, 2015! 

Learn more about the SVS program and apply to be one of our Social Venture Scholars here.

 

Studying for the GMAT? Take our free GMAT practice exam or sign up for a free GMAT trial class running all the time near you, or online. And, be sure to find us on Facebook and Google+LinkedIn, and follow us on Twitter!

B-School News: US News 2016 MBA Rankings Released

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2015-03-10_1339U.S. News & World Report today released the 2016 Best Graduate School rankings.  As our friends at mbaMission have reminded us, all rankings should be approached with skepticism. “Fit” (be it academic, personal, or professional) is a far more important factor when choosing a school.

That said, here’s how the top 15 American business schools stack up this round:

1. Stanford University

2. Harvard University

3. University of Pennsylvania (Wharton)

4. University of Chicago (Booth)

5. Massachusetts Institute of Technology (Sloan)

6. Northwestern University (Kellogg)

7. University of California, Berkeley (Haas)

8. Columbia University

9. Dartmouth College (Tuck)

10. University of Virginia (Darden)

11. New York University (Stern)

11. University of Michigan, Ann Arbor (Ross)

13. Duke University (Fuqua)

13. Yale University

15. University of California, Los Angeles (Anderson)

See the full list and check out the rankings by MBA programs and specialties, here.

Free Webinar Series: 5 Steps to Your Dream MBA

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Are You Prepared for B-School Admissions?

Five-Steps-DreamMBA

Join Manhattan GMAT and two other leaders in the MBA admissions space— mbaMission and MBA Career Coaches

—for an invaluable series of free workshops to help you put together a successful MBA application, from your GMAT score to application essays to admissions interviews to post-acceptance internships. We hope you will join us for as many events in this series as you can. Please sign up for each sessions separately via the links below—space is limited.

Session 1: Assessing Your MBA Profile and GMAT vs. GRE  

Tuesday, March 24, 2015 (7:30- 9:00 PM EDT) SIGN UP HERE

Session 2: Selecting Your Target MBA Program and How

to Study for the GMAT in Two Weeks

Tuesday, March 31, 2015 (7:30- 9:00 PM EDTSIGN UP HERE

Session 3: Writing Standout B-School Admissions Essays

and Advanced GMAT: 700+ Level Sentence Correction

Tuesday, April 7, 2015 (7:30- 9:00 PM EDTSIGN UP HERE


Session 4: Five Pre-MBA Steps to Landing Your Dream Internship and

Advanced GMAT: 700+ Level Quant Strategy

Tuesday, April 14, 2015 (7:30- 9:00 PM EDTSIGN UP HERE

Session 5: Questions and Answers with MBA Admissions Officers

Tuesday, April 21, 2015 (7:30- 9:00 PM EDT) SIGN UP HERE

Upcoming Event: Access MBA Tour (Montreal, Toronto, & Vancouver)

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The prestigious Access MBA Tour will once again take place in Montreal on March 21 at the Hyatt Hotel, in Toronto on March 23 at the Metro Convention Centre, and in Vancouver on March 26 at the Marriott Pinnacle. With a groundbreaking One-to-One event concept, Access MBA helps business professionals tap into the global leadership pool by matching them with international business school programmes. Worldwide leader in One-to-One events, the Access MBA Tour features over 125 business schools and visits more than 65 cities per year. The Tour gives candidates the unique opportunity to meet Admissions Directors from some of the world’s best business schools during individual, face-to-face meetings.

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About the Access MBA Tour

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GMAT, GRE, and LSAT Instructor Auditions: Decision In A Day (New York City)

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NYC-Audition-2

Manhattan Prep offers instructors flexible hours and great pay ($100/hour for all teaching and $116/hour for all tutoring). As a Manhattan Prep instructor, you will have autonomy in the classroom, but you will also be joining an incredibly talented and diverse network of people. We support our instructors by providing students, space, training, and an array of curricular resources.

Our regular instructor audition process, which consists of a series of videos and mini lessons, usually takes weeks, even months, to complete. Through this process we winnow an applicant pool of hundreds down to a few people each year.

We are offering a one-day event on March 1st for teachers interested in working with us. Candidates who attend will receive a decision that day. The event will take place at our company headquarters at 138 West 25th St., 7th Floor, in Manhattan, New York City.  It is open to candidates who live in the tri-state area, have taught before, and are experts in the GMAT, LSAT, or GRE.

The day will include several rounds of lessons, as well as other activities. Each round will be pass / fail. The day will begin at 10 am. It may last as late as 5:30 pm for those who make it through the final round. Candidates will need to prepare lessons for some rounds; we will send more detailed instructions to candidates when they sign up for the event.

To register, please email Rina at auditions@manhattanprep.com by Thursday, February 26. Please include in your email a resume including your teaching experience and a score report.

GMAT, GRE, and LSAT Instructor Auditions: Decision In A Day (Boston)

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Boston

Manhattan Prep offers instructors flexible hours and great pay ($100/hour for all teaching and $116/hour for all tutoring). As a Manhattan Prep instructor, you will have autonomy in the classroom, but you will also be joining an incredibly talented and diverse network of people. We support our instructors by providing students, space, training, and an array of curricular resources.

Our regular instructor audition process, which consists of a series of videos and mini lessons, usually takes weeks, even months, to complete. Through this process we winnow an applicant pool of hundreds down to a few people each year.

We are offering a one-day event on March 8th for teachers interested in working with us. Candidates who attend will receive a decision that day. The event will take place at our Boston center at 140 Clarendon St., Main Fl (Back Bay), Boston, MA 02116.  It is open to candidates who live in the Boston area, have taught before, and are experts in the GMAT, LSAT, or GRE.

The day will include several rounds of lessons, as well as other activities. Each round will be pass / fail. The day will begin at 10:30 am. It may last as late as 5:30 pm for those who make it through the final round. Candidates will need to prepare lessons for some rounds; we will send more detailed instructions to candidates when they sign up for the event.

To register, please email Rina at auditions@manhattanprep.com by Thursday, March 5. Please include in your email a resume including your teaching experience and a score report.

The GMAT is now offering an Enhanced Score Report!

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Big news from GMAC, the makers of the GMAT! Starting January 29th, you can order an Enhanced Score Report (ESR) that will contain all kinds of nifty data from your official GMAT CAT. I’ve got all of the details below, but first I’ll address a few details that will be on everyone’s mind.

The ESR:

  • Costs $25.
  • Is available for any GMAT taken from October 2013 forward, as long as you are still within the 5-year window from the date of the exam (which everyone is right now!).
  • Contains great data such as: percentage correct by question type and certain content areas; average time by question type and certain content areas.
  • Is available even if you cancel your score!

Read on for more.

Why did they create this report?

The motivation was primarily student-driven. Test-takers naturally want more data about their strengths and weaknesses for a variety of reasons, some obvious and some not so (more on this later). Spokesperson Rich D’Amato, speaking on behalf of GMAC, told me that they have been beta-testing the ESR with students for the past year, exploring what students would want to see, how they would use the information, and how best to display that information visually so that it is easy to analyze.

In fact, Rich said something that impressed me enough to write down verbatim: “We spent a great deal of time listening.” So thank you to all of the beta-tester GMAT takers who gave their time and thoughtful opinions to help develop these reports, which will help all of the rest of us going forward.
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GMAT, LSAT, and GRE Instructor Auditions: Decision In A Day

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Decision

Manhattan Prep is holding a two one-day auditions for new GMAT, GRE, and LSAT instructors in Dallas and Fort Worth! Come join us February 7th  in Dallas or February 8th in Fort Worth at 10:00 AM and transform your passion for teaching into a lucrative and fulfilling part-time or full-time career.

Manhattan Prep offers instructors flexible hours and great pay ($100/hour for all teaching and $116/hour on all tutoring). In addition to teaching classes, instructors can work on other projects such as curriculum development.

Our regular instructor audition process, which includes a series of video, online, and in-person mock lessons, usually takes weeks, even months, to complete. However, we are offering one-day events on February 7th and on 8th for teachers interested in working with us. All candidates who attend will receive a decision that day.

The events will take place in Dallas and Fort Worth at the locations listed below. It is open to candidates who live in the area, who have teaching experience, and who are GMAT, LSAT, or GRE experts.

The audition will include several rounds of lessons, as well as other activities. Each round will be pass/ fail. The day will begin at 10 AM and may last as late as 5:30 PM for those who make it to the final round. Candidates will need to prepare lessons for some rounds; we will send a more detailed instruction packet to those who sign up for the event.

Dallas, TX (Saturday, February 7, 2015)

Meridian Business Center
3010 LBJ Freeway, Suite 1200
Dallas, TX 75234
 

Fort Worth, TX (Sunday, February 8, 2015)

Courtyard Fort Worth at University
3150 Riverfront Drive
Fort Worth, TX 76107

To register, please email Rina at auditions@manhattanprep.com. Make sure to include in your full name, an attachment of your resume detailing your teaching experience, and an official GRE, GMAT, or LSAT score report. We look forward to meeting you in February!