The competition for places in business schools, especially in Asia, has risen in recent years as MBA and master's programmes in finance and economics are becoming increasingly popular. Professionals, recently laid off due to the global recession, have also driven a rise in competition, meaning getting a place on the right course has become more difficult.
Most business schools require prospective students to score a satisfactory result in the Graduate Management Admissions Test (GMAT).
'The GMAT consists of a 60-minute analytical writing assessment, a 75-minute quantitative section and a 75-minute verbal assessment,' said Joan Yee, executive director of The Princeton Review Hong Kong. 'It's a standardised entrance test taken in English and is required by most MBA programmes around the world.'
Getting a good GMAT score has never been more vital as competition for places at business schools steadily increases.
According to the General Management Admissions Council (GMAC), business schools in Asia received 39,156 results for GMAT tests last year, 215 per cent more than in 2004, showing exactly how much demand for places there is now compared to a few ago. This year is expected to see a large rise in numbers again.
In Hong Kong, 2,526 people took the GMAT last year. On the mainland, 11,287 people took it, a threefold increase on four years ago; a number which is set to grow vastly in the coming years.
