There are more than 7000 business and management institutions who accept the score of the GMAT. So, this is an impactful beginning for the candidates who are willing to pursue an MBA program eventually.
However, the importance of a GMAT score stretches beyond Business school admissions. Many employers consider GMAT scores a good indicator of the candidates ability and look favorably upon above average scores.
Since GMAT is a specialized test designed to examine a person’s ability to pursue a graduate level business program successfully and apply skills in a competitive market, all the top business schools require students to submit their GMAT scores along with the admission application. While the GRE is still gaining popularity among MBA applicants, more than 70% of the students at top business institutes submit their GMAT scores.
Is GMAT score the only reason for acceptance to the MBA programs?
GMAT scores are definitely a crucial deciding factor when it comes to MBA admissions. But are they the only factor? No. Scores of the GMAT exam are like an extension to the overall application of aspirants. Academic history, work experience, letters of recommendation, etc. are some of the other factors which when added with the GMAT score, reflect a complete profile of the candidate.
For instance, the class of 2021(entering in 2019) at Harvard Business School had a median total GMAT score of 730. Does that mean that all students who were granted admission had a GMAT score of or above 730? No. Does it mean that a score of 730 or above will guarantee admission into HBS? No. What it signifies, however, is that a score of 730 will get you in the competition. If you have an undergraduate GPA of around 3.7, a work experience of 4-5 years, and the GMAT score mentioned above, the chances of you getting accepted into Harvard’s MBA program are favorable.
Importance of GMAT Exam for MBA admissions
Business schools and such participating institutions all over the world believe that the GMAT is the best academic record predictor of a particular student or aspirant. The GMAT score is accepted by almost 7000+ institutions.
The overall weightage that GMAT accounts for the application process to any MBA program is around 22%. GMAT is just not an ordinary test but a specialized exam, the scores of which speak a lot about an aspiring management candidate such as their skill-set, aptitude, and intellectual ability.
What do GMAT scores signify?
GMAT scores are important for increasing the chances of an aspirant’s admission to a top business school. A low score can impact the career goals if the candidate is willing to pursue an MBA program. A score ranging from 710-800 will put you in the top 10% of all test takers , whereas a score of 650-700 would generally place the candidates among the top 25 percent of all the other candidates.
A low GMAT score can be the reason for an applicant’s rejection. With 9 out of 10 business schools considering GMAT scores an important factor for admissions, it certainly is important for candidates to get a score that aligns with the admission requirements. Provided below are the parameters according to which the selection team measures the candidate skills and intellectual ability.
The committee members from the top Business schools look for candidates who acquire these desired skills with them:
- Intellectual aptitude
- Interpersonal skills
- Leadership qualities
- Personality fit
Top-ranking Business schools look for these certain skills and compare them with the parameter-specific performance by the candidates in the GMAT Exam.
- Intellectual aptitude- While pursuing an MBA program the aspirant needs to undergo various coursework like- case studies, project work, assignments, quizzes and also engaging in various social events at the same time. So, these business schools always look for candidates with GMAT scores more than 740 and also with impeccable undergraduate academic records. These criteria generalize aspirants’ ability in the required attributes.
- Also, the leadership skills that you generate throughout your career helps you out to fall under the criteria for eligibility to the top Business Schools.