The MBA or any graduate management degree is much sought-after the world over. Corporations and organizations in a variety of industries appreciate and seek out the skills that such a degree affords an individual. Even current graduates, despite a slowdown in the world economy, consider their degree a good to outstanding value, especially as a means to enhance their careers or switch to different ones.
With the demand for the MBA or equivalent degree at close to an all-time high, competition for the limited seats at any school is intense. Prospective students put weeks and months into preparing a b-school application that will stand out in a crowd.
The GMAT exam is usually at the forefront of such preparations.