Economics of the GMAT

By Scott Strepina

This is an important question to ask yourself.

If you were going to invest over $75,000 dollars into an MBA program and forfeit another $100,000 in lost wages. Wouldn't it be a smart idea to spend a little money up front to make sure you received the highest GMAT score possible opening the door for you to the best MBA programs?

You're a future MBA; I think you know the answer to that question.

Historically the MBA pays off handsomely over the course of your career. So, if this is your goal, the cost of tutoring to perform well on the GMAT is small compared to your overall investment in your education. The key here is that the MBA and the process of scoring high on the GMAT is an investment in your future education, success, stability, and happiness.

"The most important investment you can make is in yourself. Very few people get anything like their potential horsepower translated into the actual horsepower of their output in life. Potential exceeds realization for many people......

Warren Buffet (This guy knows a thing or two about investments)

Why not maximize your time and efforts and get into the best MBA program available? Countless individuals each year prepare for the GMAT with no individual instruction and rely on the "Orange Book" or scouring the internet for hours to find sample problems.

If you want to prepare for the GMAT just like all the other folks (Mind you the average score is 530) then go right ahead open up your "Orange Book" and then scour the internet all hours of the night trying to find the answer that will let you move forward.

This method of study is proven to be inefficient. If a 530 score is all that you need well then you can probably get by doing what every one else is doing to prepare for the GMAT test. However if you are looking to push yourself and get the GMAT score that will open doors for you to MBA programs you though were inaccessible then you need to partner up with a resource that will provide you the structure and support that you need.

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