The answer is clear. Over “7,000 programs at 2,300 universities” all over the world accept GMAT scores. In comparison, GRE is accepted by only a few, but this number includes top colleges like Harvard, Stanford, London Business School, INSEAD, and more. If the MBA colleges you’re interested in accept GRE and GMAT scores, then you can take any one of them. If they don’t accept GRE, GMAT is the obvious answer.
What is a Good GMAT Score?f
For an MBA aspirant, GMAT is the single most significant factor to admission and it begins with setting a score goal. For that, you need to know what makes a good score.
GMAT has four sections, and each with a separate score. Average GMAT scores for all test takers for the period of 20152017

Verbal with a 060 scale score: 26.86

Quantitative with a 060 scale score: 39.4

Integrated Reasoning (IR) with a 18 scale score: 4.23

Analytical Writing Assessment (AWA) with a 06 scale score: 4.44
There is a fifth combined Quantitative/Verbal score on a 200800 scale. It is these scores colleges utilize when judging students. Anything above 700 is considered a good GMAT score. That said, the choice of an MBA college should determine what score you want to achieve.
Let’s say your goal is Harvard Business School. Its median score of the Class of 2020 is 730. Therefore, your target GMAT score has to be over 730 because that’s what an average student at Harvard will have. The rule applies to most top Bschools. If you want admission to one of them, then you have to aim higher than a good GMAT score.
Here’s a glimpse of GMAT scores and the range of top MBA colleges of the world (Class of 2020)

Stanford University: 732

Harvard Business School: 730

Wharton School: 732

London Business School: 707

MIT Sloan:728

INSEAD: 670750

HEC Paris: 690

Booth School of Business: 731

Columbia Business School: 732
Ideal Score for Each Section of GMAT:
Picking up the Harvard example again, the sectionwise scores of the Class of 2020 are:

Median Verbal: 42

Median Quantitative: 49
To be in the top 10% of all GMAT takers, aim for a 51+ sub score in Quant and 40+ sub score in Verbal. Otherwise, a good score is generally in the range of:

Quantitative: 4850

Verbal: 3539
The IR and AWA sections do not factor in the overall score, but that doesn’t mean you can ignore them. Ideal marks in these sections would be:

Integrated Reasoning: 78

Essay: 5.5 6
What’s the Need for a Good GMAT Score?
Graduate business colleges give the GMAT score the most weight when considering applicants. A poor score severely harms your chances of getting into a top MBA school.
Tips for Overall GMAT Preparation
With basics out of the way, we move to GMAT prep strategy. When you have only four weeks in hand, here’s how you prepare for the standardized test. Divide the month into three parts: 12 days, 12 days, and 6 days.
For professionals, two hours on working days and four hours otherwise are recommended study time. Put in an hour in the morning to revise concepts and an hour after work for solving real questions.
Constant practice is the key to cracking GMAT. Solve as many mock tests as possible, online and on paper.
Day 112:

Revise the basic concepts covered in the GMAT exam syllabus. We’ve given the topics you’ll need to cover below. Spread them across 11 days.

Make notes, flashcards, and cheat sheets that include practical strategies for solving questions.

Write down all the errors you make when answering questions.

Take two practice AWA.

Take a complete, timed practice test on the 12th day.
The Topics to Study in Quant:

Algebra Basics, Integers

Geometry Basics, Number Properties

Fractions, Percent

Interest, Ratios

Powers & Roots, Expressions & Equations

Triangles, Quadrilaterals
The Topics to Study in Verbal:

Vocabulary & Memorization

Sentence Correction basics

Reading Comprehension basics

Critical Reasoning basics
The Topics to Cover Under AWA and IR

AWA basics, i.e., the structure of the essay (an introductory paragraph, three supporting arguments, and conclusion).

The IR segment tests interpretation and data analysis. When you study the topics for verbal and quant sections, you gain the knowledge to do well in it too. Therefore, prep for IR only requires mastering the four types of question formats: twopart analysis, mutlisource reasoning, graphics interpretation, and table analysis.
Days 1324:

You should move on to more advanced concepts in the syllabus. They’re given below. Again, spread them across 9 days.

Work on your integrated reasoning.

Practice writing two AWA.

Start timing yourself when answering questions. Remember that during the actual test, you get an average of 2 minutes to answer one question in each section.

Find ways to reduce mistakes and errors.

Take a complete, timed practice test on day 24th.
The Topics to Study in Quant:

Rate and Work, Positive & Negative numbers

Circles, Polygons

Counting Methods and Probability

Sets, Coordinate Geometry

Solids, Descriptive Statistics

Any other topic remaining
The Topics to Study in Verbal:

Advanced Sentence Correction

Advanced Reading Comprehension

Advanced Critical Reasoning
Final 6 Days or Last Week Preparation Tips:

Revise all the material with a particular focus on difficult concepts.

Make a general strategy for the entire test (more on it here).

Take two complete mock exams on two separate days. Time them and try to imitate the exact GMAT environment. 3.5 hours is a long time. It takes endurance so condition the mind and body to take the test at a stretch. With each mock test, you should be more comfortable with the format and time limit.

One day before the test, do not study. Take an off.
Section Wise Test Preparation Tips:

For the AWA, read through model essays to understand how they are written. Become familiar with the essay prompts. The official GMAT website has a list of prompts. Read through them and prepare small notes. In case one of them appears in the actual test, the notes will help. If not, then you will be wellprepared.

For the IR section, practice is the only trick. Remember that one question may have multiple parts. You have to answer each one correctly to get credit. GMAT doesn’t give marks for part right answers.

For Quant, do not use the eyes to measure angles or areas, especially in data sufficiency questions. They are not drawn to scale. Utilize the note board given. When you solve a problem in writing, it helps. Look at the answer choices before calculating the answer. It will help you solve the question faster.

For the Verbal section, remember that you don’t require expert knowledge on topics. Only use the given passage to answer the questions, don’t apply any other insight you may have. Always be aware of precisely what the question is asking.
Read Also:
What Are Some Recommended Books and Resources for GMAT Preparation?

GMAC’s The Official Guide

Kaplan GMAT Math and Verbal Workbook

Manhattan Prep, especially for Verbal

Use the official GMAT prep website to take the fulllength tests.
A Last Few GMAT Paper Attempting Strategies:

The verbal section tends to have a correct answer and then a secondbest response. Take your time to read through to which one is which, select the answer only after you are sure.

The problemsolving questions tend to have choices that reflect computational mistakes, i.e., 2+2 =5. Always write down your calculation and then check it.

Never leave a question unanswered. GMAT grades it as wrong. For every wrong answer, the test gives you an easier question that has fewer credits. Lower credit questions equal to a lower GMAT score.

If you don’t know the answer to a question, don’t take a random guess. Out of the given choices, try to eliminate at least two. From the remaining, make an educated guess. It will improve the probability of you selecting the right answer.

Once answered, you cannot go back and review a question. Therefore, be sure of your choice.

Don't spend too much time on one question. If it’s been three minutes, then the best course is to make an educated guess and move on.