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Tick tock! Tick tock!
With just less than two months left for the first round of deadlines, it’s prime time to start the heavy work on your application. But before applicants even begin working on their applications, they get stuck at a huge roadblock- the GMAT!
We all know that preparing for GMAT takes a lot of hard work, dedication, and preparation. However, in recent years, B-schools have opted to provide GMAT waivers based on different grounds allowing candidates to focus more on building other elements of their profile.
Due to the pandemic, almost all the top B-schools in the 2022 intake offered GMAT waivers. Still, now that the economies are opening and recovering, applicants may not get the huge relaxation of GMAT/GRE waivers.
However, that’s not entirely the case. Many top B-schools tend to give preference to certified courses like CFA and do accept it instead of a GMAT score...
This article lists all the top MBA programs offering GMAT waivers for 2023 intake based on the CFA program exemption if you’re considering a graduate degree in Management, business school, investment, or financial services. Congrats! You are eligible for a GMAT/GRE waiver and even might be eligible for a course waiver if you’ve got a good level of achievement in the CFA Program. For example, having a specific group in the CFA Program(e.g., Level 1, Level 2) or being a charterholder can exempt you from some core financial courses and, of course! Qualifies you for a GMAT waiver!
Moreover, having additional certifications not only helps you glide past the tough questions asked by the adcom during the interview but also exhibit a strong intellect to B-schools (something all these top B-schools look for).
These waivers are relatively recent; however, increasingly, enough new schools are adding & revising their exemptions regularly. The details of the waivers vary by school and program; hence, the table below is intended to be a resource that highlights the various benefits and waivers available at each program.
Top US MBA Programs with Exemptions for CFA Charterholders
| School | Waiver Details | More Information |
|---|---|---|
| Cornell | GMAT not required | nil |
| Dartmouth. | GMAT not required | CFA charterholders exempt from |
| Duke. | GMAT not required | Waive finance course after passing Level III |
| Emory | GMAT not required for MBA & EMBA programs. | CFA charterholders eligible for a waiver. |
| Iowa. | GMAT waived, and some Course waiver is provided | Waive some finance core courses by passing the CFA Level I exam. |
| John Hopkins | GMAT / GRE waiver for dual government / MBA program. | Waiver for CFA charterholders |
| Notre Damn | GMAT waived & Course waiver in Executive Nonprofit Program. | CFA charterholders eligible for course waiver. |
| Rhode Island | GMAT/GRE Not Required | Required to pass CFA Level II for waiver |
| Darden | GMAT Not Required | nil |
** Charterholders - For being a Charterholder, you must have at least four years of finance-related work experience.**
Apart from Top US Business schools, some Top Canadian B-Schools offer similar GMAT/GRE exemptions for candidates enrolled in a CFA program, aspiring to be admitted to MBA graduate programs. These include,
Apart from all this, we do have a list of schools that have waived the GMAT for this year’s admission cycle.
The list is similar to the previous year, for which you could refer to the below-given link - MBA GMAT waiver 2023: Top B-Schools that don't require GMAT scores
That’s all for the CFA exemption on GMAT! We hope this helped you gain some beneficial insights! If you want specific advice about your profile, feel free to hop on a 1:1 profile evaluation call with our experts. We’ll dive deep into your profile and help you understand your chances to top B-schools with honest feedback.
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