GMAT: Paying for Points

Test-prep services can be a big help as applicants prepare for the B-school admissions exam. Here, a rundown of some well-known players

By Francesca Di Meglio

If you're thinking of applying to B-school, then you're likely also wondering how to conquer the Graduate Management Admission Test (GMAT)—and whether a commercial test-preparation service, which can cost upwards of $1,000, is right for you.

Although admissions committees, even at the best-ranked B-schools, will tell you that your GMAT score is only one of many criteria for getting accepted, you still should plan on earning between 600 and a perfect 800, especially if you're gunning for the A-list. (To find the average and median GMAT scores of accepted students in individual programs, scan the BusinessWeek.com B-school profiles.)

There's no way you should go into the GMAT cold. You must prepare, says Lawrence Rudner, vice-president of research & development at the Graduate Management Admissions Council, which administers the test. The question is how to prepare, and the answer is different for everyone. Take a practice test, see how you do, and then decide how much preparation you need to arrive at your ideal score. For some, picking up a practice book will suffice, while others will need private tutoring.

One popular option is consulting a test-prep company that provides everything from group instruction to online courses. Here's an overview of the most popular GMAT test-preparation services in alphabetical order. For more opinions on the various test-prep services from test takers themselves, visit the BusinessWeek.com B-School forums, where this subject comes up a lot. And you can also check out BusinessWeek.com's newly updated GMAT Prep page.

Kaplan

Services: GMAT classroom course, GMAT advanced classroom course (in select markets, for those who aim to score in the 99th percentile), GMAT private tutoring, complete online course, self-directed online course, condensed online course, quiz builder, books and software, admissions consulting

Cost: $1,449 for classroom courses; $1,299 for complete online course; $599 for self-directed online course; $119 for condensed online course; $199 for quiz builder; $18 to $39 for books

Pros: As the granddaddy of the test-prep industry, which Kaplan founded 70 years ago, the company boasts experience and size. With 4,000 classrooms worldwide, Kaplan seems to be just about everywhere, and competitors admit that it's the default choice for many test takers, simply because its brand is well known and outlets are conveniently located.

Those who take the traditional classroom course with Kaplan get to simulate the test in a realistic setting, says Susan Kaplan, director of the GMAT for the company (and no relation to the company's founders). Even the scratch paper is similar to the kind test takers are permitted to use during the real GMAT. All participants in the classroom course take eight computer-adaptive practice tests and 100 online workshops and quizzes. They also participate in the Ultimate Practice Test, a computer-adaptive test at an actual GMAT facility.

Cons: The sheer size of Kaplan may also be its downfall. Classes are larger than at some of its competitors, and the company prepares people for all sorts of standardized tests, not just the GMAT. It's easy to rest on your laurels when some of your students choose your program over others simply because you have a location near their home. Because the company caters to a range of B-school aspirants, Kaplan courses might not be the best choice for those who want to score in the 700 to 800 range. But Kaplan is trying to change that by offering the advanced classroom course in select markets.