A recent Kaplan survey shows that more MBA programs than ever are accepting the GRE as a GMAT alternative.
More business schools are accepting the GRE than ever before, cancelled GMAT scores are on the rise, and Donald Trump’s top strategist is remembered at HBS. Here’s what’s trending on the MBA landscape.
GRE gaining wider acceptance
According to Kaplan Test Prep’s just-released survey of business schools, more MBA programs than ever allow applicants to submit scores from the GRE as an alternative to the GMAT. The survey, which was conducted by phone between August and October of this year, found that 92% of business schools accept scores from both exams, a record high. When Kaplan first began tracking this issue in 2009, only 24 percent gave students the GRE option.
A word of caution though: Acceptance does not mean preference. A full 26 percent of admissions officer say those who submit a GMAT score have an admissions advantage over those who submit a GRE score. Only two percent say GRE takers have the advantage, and the remaining 73 percent say neither exam taker has the advantage, a figure that is essentially unchanged from Kaplan’s survey from last year. (BusinessBecause)
Cancelled GMAT scores
We have some fascinating data from the Graduate Management Admissions Council about a new GMAT phenomenon: The sharp rise in the percentage of test takers who cancel their scores—from two percent in 2014, to 19 percent in 2015, to 27 percent for the most recent testing year of 2016. Why the change? It probably has a LOT to do with the new policy of allowing test takers to see their GMAT scores before canceling their scores. The cancellation policy existed prior to 2014, but test takers weren’t allowed to see their scores; they would often have to pull the plug based only on a hunch that they did poorly.
The spike in cancelled scores by students who felt they did poorly on the exam could explain a trend we’ve frequently mentioned over the past year: the rise in the average GMAT score for new students at top business schools.
Our advice: Prepare for the GMAT with no intention of canceling your score. Although you can cancel your score and retake the test, you won’t get your money back! (Poets & Quants)
Bannon at business school
Steve Bannon, who was President-elect Donald Trump’s campaign CEO and his soon-to-be chief White House strategist, is also a Harvard Business School graduate. The rise of this controversial politico is causing some former MBA classmates to speak out about the Bannon they remember from 30 years ago. The reviews are mixed.
“There was some anger there. He was wound really tightly. I’ve lost sleep around the fact that he’s so close to the president of the United States… The women in my section have as well,” said one classmate who preferred to stay anonymous. “I don’t think there’s a racist bone in his body,” countered another. (The Boston Globe)
Guest speakers in the classroom
One aspect of business school that is not featured in any MBA rankings (to the best of our knowledge) is the sort of people who are brought into the classroom as guest speakers. These guest speakers—who often act as lecturers for the day—will likely work at a top companies and will tell you all about how an MBA helped them get to where they are. Check on an MBA program’s website to see who some of their guest speakers have been in the past. See if the school sponsors any regular series and explore the types of themes often touched upon.
As one aspiring MBA noted, “As a student I want to hear from leaders in their professional fields who can inspire and bring to life the subject matter of the relevant module, provoke thought and debate, and deliver new perspectives.” (The Financial Times)
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