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Are you wondering whether or not the GMAT is still necessary?
Quick Answer: Yes, for most MBA applicants, the GMAT is still necessary. While some programs offer waivers or test-optional admissions, many top business schools continue to require or strongly prefer GMAT scores. A strong GMAT score can enhance your application, help compensate for weaknesses, increase scholarship opportunities, and improve career prospects post-MBA.
Keep reading to understand how the GMAT compares to alternatives and why it still holds weight in business school admissions.
Here are the topics we’ll cover:
- The Current State of GMAT Requirements
- The Rise of Test-Optional and Waiver Policies
- How the GMAT Compares to Alternatives
- The Impact of GMAT Scores on MBA Admissions and Career Prospects
- Other Benefits of Taking the GMAT
- Frequently Asked Questions (FAQ)
- What’s Next?
Let’s start by discussing the current state of GMAT requirements.
The Current State of GMAT Requirements
Many top business schools still require a GMAT or GRE score. Though some institutions allow waivers, they often grant them only under certain circumstances. M7 schools continue to require standardized test scores. This emphasizes their role in admissions decisions.
Meanwhile, other schools have embraced more flexible policies. For example, some programs accept the Executive Assessment. Others allow applicants to substitute professional experience for test scores. However, not all schools accept these alternatives. Also, many competitive MBA programs may prefer GMAT scores.
In fact, admissions trends show that test-optional schools still view strong GMAT scores favorably. A high GMAT score can help compensate for weaknesses in application sections. It can also provide a competitive advantage in securing scholarships.
So, is the GMAT worth it in modern MBA admissions? Yes! It’s still a smart idea for most people to take the GMAT if they want to improve their chances of admission.
TTP PRO TIP:
Even for programs that are test-optional, having a GMAT score may enhance an application.
With all that in mind, let’s take a closer look at the recent rise in test-optional and waiver policies.
The Rise of Test-Optional and Waiver Policies
Many schools introduced test waivers in response to the Covid-19 pandemic. This shift aimed to make B-school admissions more accessible. The change was most helpful for candidates who face logistical challenges in taking exams. Given these changes, you may be wondering: Do I need the GMAT for an MBA?
Some test-optional MBA program policies remain. Yet, they often come with conditions. For example, schools may require additional essays, interviews, or proof of quantitative skills from applicants who opt out of submitting test scores. You might find these requirements more challenging than preparing for the GMAT itself.
TTP PRO TIP:
Preparing for the GMAT may be easier than meeting the extra requirements for applicants who opt out of providing an exam score.
Additionally, GMAT waivers are not given out easily. Schools often only grant waivers to candidates with stellar work experience or academic records. Younger applicants and those without a strong quant background can boost their applications with a good GMAT score. Plus, investing time in a quality GMAT prep course is quicker than earning a few more years of relevant work experience.
KEY FACT:
Schools may only grant GMAT waivers to candidates who meet strict requirements.
GMAT Function in Applications
If you’re considering a waiver or MBA programs that don’t require the GMAT, remember this. The choice isn’t simply between taking the test or not. It’s a choice between the GMAT or making up the ground the score would cover in other ways.
Your application must show strong reasoning skills. If you’re not demonstrating those skills through a test score, how are you doing so?
You need to prove that you can handle the academic rigors of the MBA program. If your GMAT score isn’t proving that, what other aspects of your application will?
The value in submitting test scores is clear. The next question is whether the GMAT or another exam is your best option.
How the GMAT Compares to Alternatives
MBA applicants now have more options when considering exams for business school admissions. Does that mean that you should opt for an alternative to the GMAT? Let’s look at how the GMAT compares to a couple of popular GMAT alternatives.
GMAT vs. GRE
“Should I take the GMAT or GRE?” is a popular question among B-school applicants. After all, the GRE is the most widely accepted GMAT substitute. (2,400 business schools worldwide accept the GMAT, while about 1,300 accept the GRE.)
Non-business graduate programs also commonly accept the GRE as an entrance exam. For people who want to keep their options open about which type of program they’ll pursue, the GRE may be a good choice.
However, the GMAT is specifically designed for business school admissions. The GMAT focuses on analytical and quantitative reasoning. This focus aligns with MBA coursework. Consequently, GMAT prep develops skills that continue to serve students in business school and beyond. Many schools who accept both exams state no preference between the two. However, some programs and scholarships favor the GMAT.
If you’re deciding between the GMAT and GRE, consider the flexibility the GRE offers. Compare that to the business knowledge and scholarship potential associated with the GMAT. Also, make sure to verify whether your desired MBA programs accept the GRE in lieu of the GMAT by checking the school’s website or contacting the admissions office directly.
TTP PRO TIP:
If you’re deciding between the GRE and the GMAT, weigh the GRE’s flexibility against the GMAT’s relevance for business school scholarships and the professional world.
If you’d like a more in-depth comparison of the two exams, check out our guide to the GMAT vs. GRE for MBA programs.
GMAT vs. Executive Assessment
The Executive Assessment (EA) serves as a GMAT alternative. It is designed for Executive MBA applicants. It’s shorter and less rigorous than the GMAT. This makes it an attractive prospect for some. However, the EA is not as widely accepted as the GMAT or the GRE. Since the EA targets applicants for executive programs, it is not as useful for those pursuing a full-time MBA.
Also, most scholarships are aimed at full-time students, so the EA offers no competitive advantage there. If every executive program you’re interested in accepts the EA, this assessment will check the test box. However, if you are considering any full-time MBA programs or any programs that don’t accept the EA, then the GMAT is a safer bet.
KEY FACT:
The EA is primarily for Executive MBA applicants, so it is not as widely accepted as the GMAT or the GRE.
Still not sure which of these tests would be a better fit for your situation? Check out our guide comparing the Executive Assessment and GMAT.
We’ve covered how the GMAT compares to accepted alternative. It’s time to dig deeper into the possible impacts of taking the GMAT on your MBA journey.
The Impact of GMAT Scores on MBA Admissions and Career Prospects
The GMAT serves as a universal benchmark in the diverse applicant pools at business schools. The rest of an application is more open to interpretation. After all, globally, there is a lot of variation in educational practices and GPA scales. Likewise, the same job title doesn’t automatically equate to the same job responsibilities.
Standardized test scores provide a common metric for admissions committees to evaluate candidates fairly. Because GMAT scoring is the same for every test-taker, a strong GMAT score is hard to argue with.
A good GMAT score does more than help with admissions. Business schools also use GMAT scores for scholarship decisions. Competitive scores can lead to significant financial aid. So, a strong score can help make furthering your education far more accessible.
Having an average GMAT score can still make you eligible to apply for scholarships that require a score. These scholarships may weigh other strengths in your profile more heavily. Applicants without GMAT scores may have fewer opportunities for merit-based scholarships overall.
Beyond business school, your GMAT score can also affect your career opportunities. For example, some top consulting and finance firms consider GMAT scores during recruitment. And in general, a high score can show strong problem-solving and analytical skills, qualities that employers value.
KEY FACT:
Beyond the admissions benefits, your GMAT score can also affect scholarship and career opportunities.
Other Benefits of Taking the GMAT
Given the many considerations we’ve discussed so far, is the GMAT worth taking? For most applicants, the answer is yes. Taking the GMAT is still a wise decision. If you’re still not sure whether the GMAT is worth it, there are a few other key reasons to take the GMAT you may consider.
Keeping Your B-School Options Open
According to the GMAT’s official website, it’s the only one of the options we’ve discussed that is accepted by more than 7,700 B-school programs worldwide. A GMAT score provides a lot of flexibility if you’re applying to multiple programs. Also, many top business schools still require the GMAT. Having a strong score ensures that you remain eligible for a wide range of programs.
Remember, a GMAT score is good for 5 years. So, if you haven’t yet finalized your list of programs, you have time to figure out which schools are right for you. You can feel confident that, whichever schools you decide on, they’ll most likely accept a GMAT score.
KEY FACT:
The GMAT is the only MBA admissions exam that is accepted by more than 7,700 B-school programs worldwide.
Balancing Out Application Weaknesses
A good GMAT score can make up for weaknesses in other areas of your applicant profile. For example, a higher GMAT score could balance out a lower undergrad GPA. Keep in mind that a recent GMAT score could be a better indication of your current academic ability than grades you received several years ago.
Moreover, what if your academic focus wasn’t business or quant-heavy? Doing well on the GMAT can show that you’re capable of the type of reasoning necessary for MBA success. If your interests have changed or you’ve worked hard to improve your quant skills, use the GMAT to show that.
Or, perhaps your work experience isn’t where you’d like it to be. If you want to use an MBA to pivot or improve your career, the GMAT can show more than academic skills. It can show that you’re willing to put in work to achieve your goals. A good score can help you prove that you’re serious about your new desired career. Dedication and self-motivation are vital traits for an MBA candidate to have.
TTP PRO TIP:
A strong GMAT score can make up for weak areas in an application or assure the admissions committee that you can handle challenging MBA coursework.
Improving Your Skillset
An often overlooked benefit of the GMAT is that it tests useful skills for professionals. So, preparing for the GMAT builds skills that are valuable in business school and beyond.
The GMAT requires:
- analytical thinking
- problem-solving
- strong reasoning abilities
- time-management
- stress-management
Those are all essential skills for success in an MBA program. MBA programs are notoriously demanding and time-consuming. Thus, you’re not going to have much time to develop those skills once you start school. GMAT prep gives you an opportunity to sharpen key skills beforehand so you can hit the ground running.
Here’s another great thing. Why are these skills so important to MBA success? They’re also very useful skills to have in the business world! Solid quantitative skills are applicable at many jobs. The ability to reason through arguments and assess their quality comes up frequently in business. Interpreting texts and graphs or visuals efficiently will help you excel in your professional career.
The GMAT is more than just an exam you take to check a box. It’s a path to self-development. Instead of viewing it as something you have to do or something to get through, view the GMAT as an opportunity to develop crucial skills. By reframing the test prep experience, you can maximize your GMAT ROI.
The GMAT is more than just an exam you take to check a box. It’s a path to self-development.
Key Takeaways
Here are some key points about the GMAT to keep in mind when deciding whether to take the exam:
- The GMAT is the most widely accepted business-focused graduate admissions test.
- While test-optional policies have become more common, the GMAT remains a vital component of a competitive MBA application.
- Test-optional schools may have additional requirements for applicants who opt out of providing a score, and those requirements can be demanding.
- Test waivers are not guaranteed, and may only be granted to candidates who meet strict guidelines.
- A good GMAT score can show that a student possesses the reasoning skills necessary for MBA success.
- The GMAT is a great way to make up for weaknesses in other areas of an applicant’s profile.
- The benefits of having a GMAT score extend beyond acceptance to B-school, influencing scholarship decisions and career prospects.
- Preparing for the GMAT helps students develop skills that will benefit them both academically and professionally.
Frequently Asked Questions (FAQ)
Do I need to take the GMAT?
There are options like waivers and test-optional programs. Still, the GMAT has an important role in your application. The GMAT functions as a quantitative measure of certain skills crucial to MBA success. A strong GMAT score can help balance out weaknesses. This includes areas like GPA or work experience. Additionally, many merit-based scholarships require a test score.
Are you interested in applying to schools that don’t have a GMAT requirement? Is your profile otherwise very competitive? Do you have no need for scholarships? If you answered yes to all of these, then you might not need to take the GMAT. If you don’t meet one or more of the requirements, it’s probably a good idea to take the test.
Do all MBA programs require the GMAT?
Many MBA programs require a standardized test score. However, not all programs do. Some programs grant waivers to candidates with strong work experience or unique circumstances. Other programs are test-optional. Check with the specific schools you’re interested in for current requirements.
Are there business schools without GMAT requirements?
There are absolutely business school options for students without a GMAT score. About half of the top 50 US MBA programs are test-optional. If you’re interested in a top 25 MBA program, the pool of test-optional choices is smaller.
There are also alternative assessments. A GRE or EA score can strengthen your application. The impact depends on the schools you’re applying to.
How long is the GMAT valid?
A GMAT score is valid for 5 years. This long shelf life offers some flexibility for your graduate school timeline.
How is AI changing the role of standardized tests like the GMAT in MBA admissions?
As AI evolves, this question comes up increasingly often. The GMAT uses Computerized Adaptive Testing (CAT), so AI is deeply embedded in the testing process.
What about the GMAT’s relevance? If people can use ChatGPT to answer questions and structure information, do students still need to learn the skills that the GMAT tests?
Calculators have been fairly common since the mid-1970s. They can solve many simple and complex equations quickly, and with less error than a human. However, you still have to know how to use a calculator to verify that it’s giving you the right information. Otherwise, we could sit 10-year-old children down with college-level math exams and a calculator, and they could figure it out.
Success in an MBA program or career requires more than the ability to run an analysis. It involves recognizing what needs analysis. You must also do the analysis correctly and separate good answers from bad ones.
KEY FACT:
MBA success requires reasoning skills that AI cannot easily duplicate.
Of course, AI is a valuable tool. In skilled hands, it can do great things. What it cannot do is replace the benefits of learning how to think critically and reason through problems. The GMAT shows that applicants have those skills, and admission committees find that valuable.
What’s Next?
Want to explore score-free and alternative options further? Check out our guide to getting an MBA without a GMAT score.
The GMAT offers fee waivers for some testers. If you’re interested in seeing whether you qualify for one, here’s our guide to GMAT fee waivers.
