“When should I really start preparing for the GMAT?” This is a question that goes through the mind of every test taker.  The answer depends on when you want to attend business school. GMAT scores are valid for (5) years, so you don’t have to go straight from GMAT preparation to the application process if you don’t want to.  This post is intended more for people who want to finish the process– from GMAT to attending a B-school– in a single shot (taking the GMAT and then applying to schools right away.)

First of all, you need to understand the B-school application process.  Let me give you a summary.  You’ll want to allow yourself about three months for the application process.  Most of the schools have a couple of rounds in the application process: early bird, round 1, round 2, round 3, etc. Although there are many rounds, typically it is round 1 and round 2 deadlines that you should plan your applications around. I have visited many schools and talked with the admissions committees of schools, and typically there are a lot differences between your acceptance rate in round 1 and that in round 2. Round 3 becomes more competitive and you might want to avoid that. Round 1 deadlines for most schools are in the first week of October, and Round 2 deadlines are in the first week of January. In order to come up with good applications, write quality essays, plan school visits, and talk to professors, you will require about 3 months before the deadline.

You can also plan to spend about three months on your GMAT preparation. If you’re hoping to attend one of the top 10 schools, you’ll need at least a 700 on the GMAT, so make sure you give yourself enough time to take advantage of study options like Grockit to secure the best score possible.

Let’s look at the process backwards from the Round 1 application deadlines. If you take your GMAT by end of June, you are in a good position to submit your applications in Round 1. Even if you didn’t secure your target score in GMAT, you would still have ample time to take another shot at the test in July and still apply for Round 1.  And if you miss the Round 1 deadline, then you can plan to apply in Round 2, which statistically is very similar to the Round 1.  If you are planning to apply in Round 2, then you should be done with your GMAT by the end of September at the latest, to have ample time for your application preparation.

So in summary:

Round 1 applicants—Start preparing for the GMAT beginning in March or April, and take the test by the end of June.

Round 2 applicants- – Start preparing for the GMAT beginning in May or June, and take the test by the end of September.

This should give you enough time to prepare for the exam, plan your applications, and hopefully get into the school of your dreams!

And finally, remember the 5P’s – Proper Planning Prevents Poor Performance. That’s the reason we are here at Grockit: to help you achieve your best from start to finish.