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From business schools critiquing the (new-ish) GMAT Integrated Reasoning section to a historic first at Rutgers Business School (and—you guessed it!—more business school rankings lists), here’s the latest in MBA news for prospective students applying to business school or taking the GMAT.
How relevant is Integrated Reasoning for your GMAT score?
- According to Kaplan Test Prep’s 2014 survey of admissions officers at over 200 business schools across the United States, 60% say that a prospective student’s score on the GMAT Integrated Reasoning section (launched in June 2012) is not currently an important part of their evaluation of an applicant’s overall GMAT score.This represents a slight uptick from Kaplan’s 2013 survey, when 57% said an applicant’s GMAT Integrated Reasoning score was not important. Despite that finding, Kaplan’s survey also finds that 50% of business schools pinpoint a low GMAT score as “the biggest application killer,” confirming that prospective students still need to submit a high score overall.And because GMAT takers receive a separate score for the Integrated Reasoning section, poor performance on this section cannot be masked by stronger performance on the Quantitative, Verbal, or Analytical Writing Assessment sections of the test. (Poets & Quants)
Rutgers Business School taps into progress
- Rutgers Business School just achieved something Harvard Business School, the University of Pennsylvania’s Wharton School, and other top ranked MBA programs have strived for, but haven’t been able to achieve: The majority of its new MBA class is women.Prospective students’ takeaway: Rutgers’ overall class size of 79 is tiny compared to that of other business schools. Regardless, an enthusiastic congratulations is still due! Kudos, Rutgers Business School! (Bloomberg BusinessWeek)
The controversy of the international business curriculum
- What’s going in with Chinese business schools? The world’s largest country has an international business dilemma on its hands. Should (or can) their MBA programs offer truly international business curricula, given internal issues and the fact that the country is not opening up as quickly to the outside as the international business community desires? Who should their business schools cater to? (The Financial Times)
Want more business school rankings? No problem!
- Have the energy to digest another business school rankings list? If so, then take a look at The Economist. For the fourth time in five years, the University of Chicago’s Booth School of Business tops its rankings of full-time business schools.Even as banking jobs have become scarcer, Booth School of Business—famous for its finance education—has maintained a strong record of helping its students get jobs. Last year, nearly 95% of Booth’s graduates were employed within three months of leaving. That’s pretty impressive. London Business School is the top ranked British school, but still fell to fifteenth place in 2014’s business school rankings. (The Economist)
Rising demand for MBAs
- The demand for MBAs is up among employers, as is the demand for employees at MBA programs themselves. In fact, employers are going on a veritable hiring spree for MBAs!According to the most recent report by the U.S. Department of Labor, there were 15,000 more business school professors in 2013 than in 2008. Doing the math? We’ll do it for you. That’s a 22% increase in faculty since the financial crisis hit.Prospective students’ takeaway: The biggest jump in faculty is for adjunct professors, who only teach a couple of classes, at most. (CNN.c0m)
What’s the latest in business school news that you’d like to talk about? Share your comments with your fellow aspiring MBAs below, on Facebook, and on Twitter; then visit kaplan.com/unlock for a chance to win 10K!
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