A recent Poets & Quants article highlights some of the current data surrounding the decision applicants make in choosing between the GRE and GMAT. According to the Educational Testing Service, almost 10% of MBA applicants took the GRE instead of the GMAT in the 2012-2013 testing year, a 38% increase since last year’s testing period.
Here are some additional stats:
• 29% of b-schools surveyed by Kaplan Test Prep said that at least 10% of their applicants were GRE test takers. 18% of schools said that their GRE pool was at 18%. 6% of respondents said that their applicant pool was made up of half GRE test takers and half GMAT test takers.
• At Yale SOM, 21% of applicants submitted GRE scores last year, an increase of 18% since the previous year.
• 25% of Notre Dame Mendoza prospective students submitted a GRE score last year, up from 12% previously.
• At UCLA Anderson, only 3% of applicants submitted GRE scores.
• 5% of Columbia Business School applicants took the GRE last year, compared to 2% the year before.
• At Emory Goizueta, 8% of last year’s prospective students took the GMAT, up from the previous year’s 3%.
• Washington Olin’s GRE pool dropped 7% from 31% in 2012 to 24% last year (which is still high).
• Texas McCombs also took a slight dip, from 13% in 2012 to 11% last year.
• In India, the number of GRE test takers increased 68% last year, from 52,792 in 2012 to 88,884 last year. In the U.S., the increase in test takers over that same period was just 5.3%, from 401,286 test takers in 2012 to 422.668 this past year.
Reasons for the Growth in GRE
• Versatility of the GRE. Rob Weiler, UCLA Anderson’s associate dean, points out that many students are submitting scores from GRE tests they took up to a few years ago. “It’s clear that they had graduate school in mind when they took the test but were still considering the best avenue to take for their career,” he says. “Once it became clear that business school was their choice, they used their GRE score to apply.”
• Price. The GMAT is priced at $250, while the GRE costs only $195.
• Rankings and willingness to accept lower scores. The P&Q article states that admissions consultants are suggesting that applicants take the GRE over the GMAT because of the way official rankings take the GMAT into consideration. “So an admissions office might be overly sensitive to a low GMAT score, but might pass on a lower GRE,” states the article, which then goes on to compare GREs and GMATs of accepted students at Yale – the former being lower than the latter. (Using ETS’ comparative tool, the equivalent GMAT score based on the GRE scores accepted at Yale would be 660; the average GMAT score at Yale is 714. A similar phenomenon is found with other programs, with a 91 point gap at Cornell Johnson, a 126 point gap at Washington Olin, and a 118 point gap at Vanderbilt Owen.)
• The ScoreSelect option. This allows test takers to retake the exam and send only their best score to their target schools.
The following chart comes from the P&Q article and shows the percentage of 2012-2013 applicants who submitted GRE scores, as well as the GRE-GMAT differences.
Source: Business schools reporting to U.S. News & World Report
On one hand, the focus on the comparator tool may be misplaced. When I have spoken to admissions committee members about the GRE we spoke in terms of percentile scores. I would love to see this data and the comparison between the GMAT and the GRE comparing percentile scores. I think that would be more worthwhile. I suspect it would still show similar results, but perhaps with smaller gaps.
Regardless of the validity of the comparator tool, this article suggests that the GRE may not only be cheaper, it may in a way take your score out of the public eye. And if you don’t need a high GMAT to snag an interview at an elite bank or consulting firm, and you’re struggling with the GMAT, the GRE may be a better test for you.
Although I can’t locate the blog post, soon after schools started accepting the GRE in greater numbers, I suggested that those of you with other evidence of academic ability who are struggling with the GMAT should contemplate applying with the GRE. I felt that because the GRE is not reflected in the published GMAT averages that applicants, alumni, and employers use as a quick-and-dirty reflection of student “quality,” submitting a GRE score instead of the GMAT would give admissions officers wiggle room to focus on other aspects of your application. It would allow them to consider your application without worrying about a hit to their GMAT average.
On the other hand if you can do well on the GMAT, go for it. Schools want GMAT bragging rights.
By Linda Abraham, president and founder of Accepted.com and co-author of the new, definitive book on MBA admissions, MBA Admission for Smarties: The No-Nonsense Guide to Acceptance at Top Business Schools.