Rotman(Toronto) - GMAT vs GRE

Question

I have studied for GMAT for 3 months, and I got 560. I recently realize that the schools I will apply accept GRE too. I would like to know which test is the best path for me.

Are there differences in terms of scholarships, job opportunities post MBA or number of subjects or degree of difficulty among theses tests?

Can anybody advise me which test is more suitable and why?

Manuel

jigglypuff · Answer

GMAT is by far more suitable, because it's more standard and employers can more easily compare candidates across the board. Not everyone does the GRE, but for business schools almost everyone does do the GMAT.

I can't say if there's a difference in terms of scholarships between GMAT and the GRE, but I have a feeling that it's leaning towards the GMAT (there was a school I was thinking of applying to who told me they will guarantee a scholarship if I apply just because I have 700+). In terms of post-MBA opportunities though, if companies don't care about standardized tests, you're fine. However, a lot of the top-tier employers do care, and unfortunately most of them only look at the GMAT. Some applications you can't even complete without a GMAT score...

My advice is, try doing the GMAT again. First time can be hard, it's a different type of testing. And if you haven't improved to the level you want to be at, apply with the GRE and get in first. Worry about improving the GMAT later once you decide on which career you want to chase after and figure out if you'll need a GMAT score or not.

ManuelJesus · Answer

Very thank you! Do you know anything in terms of complexity and time to crack each test? Which advantages or disadvantages does each test have to tackle them for the best results?

Best.

MBAPrepCoach · Answer

ManuelJesus  with all due respect to jigglypuff, I feel a bit differently. INSEAD requires the GMAT if it is available in your country, and UC schools prefer, but do not require, the GMAT. Here is my logic.

I am going to take a wild guess that you are Hispanic, which means you are underrepresented. If you bring something to the table in this regard, there is a bit less pressure on your test scores and here's the thing - still, for most schools, the GRE is unpublished. So if they want to add diversity to the school, and it won't "cost" them anything in terms of pulling down average GMAT, they are more likely to admit you.

My R2 French client (underrepresented) had the GRE equivalent of 600 (but he's an engineer, and did well on the quant side. Never did well on either section after taking GMAT 5 times.) He really put our applications in peril but constantly trying to chase after the GMAT instead of focusing on his applications, which was far more within his control. So don't let this happen to you. DO THE APP WELL. Because if they don't like your app, the test score is a moot point.

Ultimately I put my foot down with him and we did turn out some great applications. Despite his test score, he was admitted to Ross with a $40K scholarship and - wait for it - Wharton as well, the prestigious Wharton-Lauder MA/MBA program.

Another Round 2 client did the GMAT and got a 620, but took the GRE the following week with no preparation and received the equivalent of 720. We had already gotten him into the online UNC program but this changed the landscape for him significantly.

What JigglyPuff says about post-MBA is true - in fact, MBB requires 700 if top 10 and 720 if top 10. However I've come to learn from my Round 2 client that BCG is now accepting the GRE as well. If that is your aim, you might need to research this a bit more; would recommend you get in touch with the MBA recruiter at the office where you would want to work.

For IB, they have traditionally wanted to see a 700+ on the GMAT and I am not sure if they are starting to accept the GRE or not. However if you are interested in careers outside of these two, I don't think there will be any penalty to doing the GRE.

Ultimately I might agree that it wouldn't hurt to take the GMAT one more time, if this score is very different from your mocks and you feel confident that you can increase it. But might also want to take a practice GRE exam, there is one available on the MP site.

But don't let this test suck all your time away from other facets of your application. There is time now, but if the next one doesn't go well, the GRE might be a better investment of your time and because it is unpublished, will give you the freedom, in some ways, to show what you can bring to the school in other ways.

Hope this helps!
Farrell

ManuelJesus · Answer

Very thank you! According to my verbal skills, I will decide which test is more suitable.

bschoolboy2017 · Answer

I am in a very similar situation. I have learned that most of the top business school do give more importance to the GMAT (even if they say otherwise). Secondly most of the top companies in IB/PE and in consulting do look at your gmat score. So I guess its best to stick to GMAT.

MBAPrepCoach · Answer

bschoolboy2017  can you share with me what you learned about giving more importance to the GMAT? I mean, they do have a longer history with the GMAT as a predictive variable however I am curious if you learned that they actually take off points if someone submits a GRE score, which I don't believe they do.

Also, the fact the IB/PE and consulting firms look at your GMAT doesn't mean they wont accept a converted GRE. So I'm just offering this in case you struggle, don't beat your head against the wall for too long because the GRE would by no means be a career fatal move. I have placed many candidates in top business schools who submitted a GRE score.

jigglypuff · Answer

To anyone reading this thread, I would say listen to the Farrell, who is a professional at this. I'm merely an MBA grad, so I only have a sample size of one, and a lot of anecdotal evidence from consulting firms and consultants since I was an exec on the MCA. This is not numbers though, just conversation, and people can say one thing but the reality is another. Farrell does have evidence, so listen to her.

To follow up on some of her comments, yes, some top-tier consulting firms are starting to accept GREs, but I do not think this is for MBA grads (just yet) but rather Ph.D. applicants. Don't quote me on this though. Some other consulting firms do indeed look at the GRE, but if they're deciding between a 700 GMAT and a 700 GMAT-equivalent GRE, they're going to go with the GMAT.

bschoolboy2017 · Answer

Hi Farrell,

Thank you so much for your reply. I was actually talking to a couple of business school adcoms who suggested that if I have the option, I should give GMAT rather than GRE. They never said they will take any points off if I submit the GRE however only about 4% of the total applicant submit GRE (in their words). Since my short term goal is to go into management consulting they also added that some consulting firms do look at GMAT Scores while evaluating their candidates. No reference to GRE was made in this regard so I am really not sure.

jigglypuff · Answer

As a former MCA exec at Rotman, I can tell you it is very difficult, if not impossible, to get into one of the bigger strategy houses with a sub-650 GMAT, let alone trying to do it with a GRE...

bschoolboy2017 · Answer

Hi jigglypuff,

Thank you so much for your input. I have also spoken to a few business school graduates who have told me this. Do you know if business schools have any similar perceptions about GMAT and GRE especially in Canada?

DealMonkey · Answer

Hi,

Just wondering do companies care how many times you take the GMAT?

jigglypuff · Answer

Not really, just your highest score. They typically don't even ask for proof of the score, you just have to put it on your resume.

In some cases they do ask, and the only scenario I can imagine they might care is if you did a lot of tests and show no improvement. I mean, if you did three tests, and you score 550, 650, and 750, that's points for perseverance and improvement. If you did three tests and you score 600, 610, 620, that's not going to mean much and might work against you...

DealMonkey · Answer

Thanks. Do you know what constitutes a "good" score? I'm guessing 700+? 
I spoke to one Ivey student and he managed to get into one of the MBB firms with a 680, although it was very difficult to do so.

Also do you know if GMAT is only used for consulting? What about finance?

jigglypuff · Answer

I don't want to define a "good" score, because consulting firms really do look at your profile holistically. A "safe" score would be 700+, yes, but you don't need it to get in. If you've had great progressive work experience at a managerial level, that would greatly work in your favour. I would say anything below 650 would be really tough.

Also, a lot of firms are now pushing for workplace equality. It might sound unfair, but if you're a woman or LBGTQ, it helps. Not that they'll actually come out and say that outright though...

I don't think finance cares as much, maybe if you're on the sell side? In finance a lot of it is through networking, and top firms actually reach out to top candidates on their own without the candidate having to do any work (other than putting a resume together for the Rotman resume book). Got a lot of friends in finance who have, in their words, crappy GMATs, but they had internships locked in before Term 1 even ended.

ashwink · Answer

Try taking a practice GRE test and gauge your scores with the GMAT. GRE is more vocab focused in Verbal and the quant is much more easier(atleast that is what i felt).

Aaliyah537 · Answer

I'm going to have to go with MBAPrepCoach here to say "it depends." Is your post-MBA goal consulting or finance? If so, you should probably take the GMAT because many firms ask for your scores. If you are looking at other careers (who knew that people can apply to business school without trying to join consulting or IB!), the GRE is probably fine  if  the school tells you they weigh it the same as the GMAT - just ask the school! When I visited HBS last year, the admissions officer emphasized that  they did not care  which test you took. That, and coupled with my disinterest in IB or consulting, cemented my decision to take the GRE. The only school I encountered that says they prefer the GMAT is INSEAD, so I choose not to apply there.

mygreexampreparation · Answer

can you suggest me some best gre books ?

MiMEssay · Answer

Hey there,
Well, the average GRE/GMAT score depends upon the schools you are planning to go for.
As for your GRE/GMAT, the schools can be made into the Competitive, Good and Safe schools buckets:
1.Top Ranked Schools(Competitive schools) : GRE - 320+ & GMAT-700 to 720+
HEC, ESSEC, LBS, WHU, Duke, Michigan.
2.Good schools with reachable Targets : GRE - 315+ & GMAT- 690+
EBS, EDHEC, ESCP, IE, RSM, Bocconi Doza, (ESADE is more like 320+,700+).
3.Safe schools: GRE - 305+ & GMAT- 670+
Audencia Nantes, WU Vienna, Sauder School of Business, EBS, Notre Dame Mendoza.
GRE/GMAT is an important part of the process, easily accounting for 20–25% of the final consideration for most schools but you have to make sure that you present an overall strong and holistic profile.
Just remember GRE/GMAT many times acts only as a gatekeeper, if you obtain a mark above a certain minimum score, you can pass on and then the next decision is dependent upon how strong your academics and your profile is.
In case if you feel your profile is weak or you have a low CGPA then the GRE/GMAT can help bolster it to a level.
If you want a Comprehensive profile evaluation, this tool can help you : https://mim-essay.com/profile-evaluation?gcf
When you understand your profile's strengths, it will give you a good idea as to where you stand in your quest for top MiM schools.
Hope this helped

tcborty2007 · Answer

If I might revisit this old message-

I am kind of in the same boat- I got accepted into Rotman with a good scholarship. My GRE scores was 331 in a single attempt with 168 in Q and 163 in V. The equivalent GMAT score around 730. Considering the equivalent GMAT score, will I really be at a disadvantage if I apply for MBB?

Rotman(Toronto) - GMAT vs GRE

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