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the 700+ rule
[#permalink]
27 Jul 2009, 21:03
27 Jul 2009, 21:03
Hey guys,
Excuse my ignorance, I'm still pretty new to this whole thing. I see that there is a lot of talk about 700+. It seems that for the MBA once you hit 700 you are golden and the difference from 700 from a 760 seems minute. But isn't a 700 and a 760 in terms of percentiles a BIG difference? 90th percentile to 99th percentile... I don't know how many people take the GMAT each year but it just seems like 9 percentile... or even say 5 percentile difference seems huge.
Is the GMAT really a way for the top schools to determine yes you have a chance and no you have no chance ... and thats it? I do see some post about people obtaining merit scholarships cause of good GPA and high GMAT but they do seem sparse. I'm just a little confused and baffled.
Thanks
Excuse my ignorance, I'm still pretty new to this whole thing. I see that there is a lot of talk about 700+. It seems that for the MBA once you hit 700 you are golden and the difference from 700 from a 760 seems minute. But isn't a 700 and a 760 in terms of percentiles a BIG difference? 90th percentile to 99th percentile... I don't know how many people take the GMAT each year but it just seems like 9 percentile... or even say 5 percentile difference seems huge.
Is the GMAT really a way for the top schools to determine yes you have a chance and no you have no chance ... and thats it? I do see some post about people obtaining merit scholarships cause of good GPA and high GMAT but they do seem sparse. I'm just a little confused and baffled.
Thanks
Re: the 700+ rule
[#permalink]
27 Jul 2009, 21:37
27 Jul 2009, 21:37
It used to be the case that once you crossed the 700 mark, the GMAT would no longer be a concern and you would be in a good competitive standing among other students. Over the years, that number has grown a bit and averages at the top 5 are creeping toward 720.
Your assumptions are correct. There is actually a very big difference between a 760 and a 700. A 700 won't keep you out of a school, but it's not going to be the part of your profile that gets you in either. Although a 760 alone isn't going to get you into business school, it might be enough to distinguish your from a similar applicant who scored 700.
The bottom line: score as high as you can, but don't be discouraged if other people have a higher score than you.
Your assumptions are correct. There is actually a very big difference between a 760 and a 700. A 700 won't keep you out of a school, but it's not going to be the part of your profile that gets you in either. Although a 760 alone isn't going to get you into business school, it might be enough to distinguish your from a similar applicant who scored 700.
The bottom line: score as high as you can, but don't be discouraged if other people have a higher score than you.
Re: the 700+ rule
[#permalink]
27 Jul 2009, 21:53
27 Jul 2009, 21:53
Avernusaur wrote:
It used to be the case that once you crossed the 700 mark, the GMAT would no longer be a concern and you would be in a good competitive standing among other students. Over the years, that number has grown a bit and averages at the top 5 are creeping toward 720.
Your assumptions are correct. There is actually a very big difference between a 760 and a 700. A 700 won't keep you out of a school, but it's not going to be the part of your profile that gets you in either. Although a 760 alone isn't going to get you into business school, it might be enough to distinguish your from a similar applicant who scored 700.
The bottom line: score as high as you can, but don't be discouraged if other people have a higher score than you.
Your assumptions are correct. There is actually a very big difference between a 760 and a 700. A 700 won't keep you out of a school, but it's not going to be the part of your profile that gets you in either. Although a 760 alone isn't going to get you into business school, it might be enough to distinguish your from a similar applicant who scored 700.
The bottom line: score as high as you can, but don't be discouraged if other people have a higher score than you.
Thanks for the answer Aver. If I give you the two following applicants and lets just assume they are more similar in almost every aspect except for the listed differences, who would be a stronger candidate for a M7 school?
#1
GMAT: 760
GPA: 3.5 (not a very distinguished undergrad)
W/E: nothing glorious ... lets just say he sold insurance? Or a credit analyst at a local community bank
Essay: fantastic, told a great story about why he wanted a MBA (mainly because he wants a change)
#2
GMAT:710
GPA: 3.4 (Ivy)
W/E: Investment Banking analyst at Morgan Stanely Chicago (got the job cause he went to an Ivy)
Essay: decent story about how he wants to further his IBD career etc.
