Think of MBA abroad and you can’t help but think of GMAT – the standardized test that is your ticket to B-schools across the world. GMAT is computer-adaptive exam that checks your Quant and Verbal reasoning skills. Unlike CAT and other MBA entrance exams, GMAT can be scheduled as per your convenience, meaning that you can take the test whenever you feel you are best prepared! Aside from the regular test-center GMAT, you can also take the GMAT at home.
GMAT is scored on a scale of 200 to 800 in 10 point increments. Your GMAT score stays valid for 5 years after the date of your exam and you can apply to universities in that duration. According to official GMAT website, two-thirds of test-takers score between 400 and 600 on the GMAT. It is generally accepted that a score above 680 increases your chances of making it to good MBA colleges.
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But what are good MBA colleges?
Most folks would tell you to check out the MBA rankings. There’s US News, QS, FT, THE and so on. But trust us when we say that a good MBA college is one that fits YOUR future goals, YOUR career aspirations and YOUR budget the best. If there’s anything that we have learned with 27+ years of MBA counselling experience, it is this: every profile is unique and has some peculiar aspect that should be highlighted to win admissions committee’s approval.
Here we have compiled a list of Top 20 GMAT accepting colleges in the world with the best faculty, employability, industry connect and alumni network. Take a look at fees, work experience and average GMAT score:
|QS Ranking||University Name||Fees (USD)||Work Experience (months)||Average GMAT score|
|1||Stanford Graduate School of Business||74,706||56||733|
|2||Wharton, University of Pennsylvania||80,432||N/A||732|
|7||London Business School||£92,735||24||701|
|9||IE Business School Spain||€72,200||36||677|
|10||University of California, Berkeley||68,444||60||727|
|11||University of Chicago – Booth||74,916||60||730|
|12||IESE Business School Spain||€89,950||48||690|
|13||ESADE Business School, Spain||€73,800||24||660|
|14||Northwestern University, Kellogg||76,368||24||727|
|15||University of California Los Angeles, Anderson||67,737||N/A||714|
|16||Said Business School, Oxford||£65,520||24||690|
|17||Judge Business School, Cambridge||£61,000||24||687|
|18||Yale School of Management||74,500||60||720|
On first glance the fees can appear to be prohibitively expensive, but respite comes in the form of MBA scholarships. At most of the business schools above, up to 50% of students receive some form of financial aid. Explore 11 scholarships for Indian students pursuing MBA abroad.
What should be my target GMAT score?
It depends on your target universities. If you are looking to join the top 50 MBA colleges in the world with GMAT score, then you must have decent work experience of at least 4 to 5 years and score a minimum 700.
Having said that we have had students who made it to top B-schools with a 680 and 2 years of work ex, solely on the basis of their resume, application essays, LORs and interviews. If you want an exact answer, connect with our counsellors for a free profile evaluation session. They will help you decide your target score and B-schools on the basis of your current work profile, academics, extracurricular activities.
Where in India can I apply with GMAT scores?
Each year more and more Indian students and working professionals are taking the GMAT instead of CAT and other MBA entrance exams. This almost exponential rise can be attributed to the fact that many B-schools in India are now accepting GMAT scores. Some of the notable GMAT accepting colleges in India are: ISB Hyderabad and Mohali, IIM Ahmedabad, IIM Bangalore, SP Jain, IMT Ghaziabad, XLRI Jamshedpur, etc. You will find more information on top Indian B-school cut-offs here.
When it comes to MBA admissions abroad, eligibility requirements like GMAT scores and work experience are not set in stone. Many B-schools in India and abroad are fluid about their eligibility requirements. At the same business school, we have had students who have been accepted with a GMAT 680 and rejected or waitlisted at 720. This is because admissions committee at most B-schools assess the candidate’s complete profile. If you showcase your learnings and achievements effectively, you can make up for an average GMAT score.
Want help in selecting your target GMAT score or B-school? You are just one call away. Connect with our counsellors for a free 15 minute session and get your personalized GMAT study plan and MBA admissions roadmap.