Businessweek reports in "Stanford Smiles on GRE Scores" that Stanford GSB will allow students to submit GRE or GMAT results. The move, according to Director of MBA Admissions Derrick Bolton, is an attempt to lower the cost of applying to MBA programs and increase "socio-economic diversity" at top MBA programs.
Kerry MIller, the article’s author, speculates that the move "may also allow Stanford to admit more women and ethnic minorities like blacks and Latinos—who on average do not perform as well on the GMAT exam—without affecting their overall GMAT score, and therefore, their overall ranking by information sources such as BusinessWeek and U.S. News & World Report."
There is no question that the GMAT is an expensive exam: $250 vs $130-175 for the GRE depending on where the test is administered. The key question in my mind is referenced in this article by Rose Martinelli of Chicago GSB: Does the GRE predict success in business school?
I am surprised that Stanford would accept the GRE without validating its predictive value at a graduate school of business. The GMAT is expensive, but it has been extensively validated. If the GRE isn’t predictive, then it’s a complete waste of time and money for the schools and applicants. Why not just do away with the GMAT entirely or make it optional?
I think you have a valid criticism in that I did NOT check with Stanford about validating the GRE before posting my reaction. However, in my defense, the article quotes a Kaplan representative (and Kaplan makes money whether someone takes a GRE or GMAT) as saying that "the ability of the GRE to predict performance in business school has not been proven." From your comments, it appears that Stanford disagrees with that individual as well as with Rose Martinelli, who said she wants to see more research on the differences between the two tests before coming to a conclusion.
As far as the comparison to PhD programs, they are different kinds of programs than MBA programs and require a somewhat different, perhaps broader, skillset. They are academic programs, and the GRE is designed to test the skills necessary to succeed in academic graduate programs.
I am happy to praise change when it achieves its ends. I am not sure this achieves much other than switching an exam with questionable validity for one with proven validity. If I am persuaded that the GRE is equally valid or at least acceptably valid, I will change my mind.
Thanks for your feedback.
Hello Linda,
Did you check with GSB on this?
The gentleman I spoke with in the Admissions Office said, "of course we wouldn’t accept the GRE without extensive study on its viability in our program." He said Stanford had done a private GRE study already, and that GRE is doing a large public study across business schools in the fall.
He also said that GSB has always accepted GMAT and GRE for its PhD and that it’s been a better predictor there than GMAT, and that the MBA required curriculum overlaps a lot with the PhD.
It’s good to see a school embrace change. I’m surprised to see you’re so negative on it without doing your research.