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To defend the poor old little GMAT,

it plays in the rankings and it shows one’s ability to digest basic material. You could argue that if Juan can’t Master high school math and some grammar, how Kinley master more advanced skills that will be taught in the business school?
You could count it as a learning test potentially....
Business school and MBA have become a lot more competitive in the last 30 years and does the result, scores have been under the pressure of inflation has more and more people look to score higher seeking either scholarship money or a way to cover up some of their weaknesses. It is a part of the application package. It is a bit of a right of passage... but as all tools it’s not always perfect. Some people don’t do well on tests. Admissions teams know this fact and they do admit a number of outstanding people call who excel in all the other elements except perhaps the GMAT.
However, you can argue the same way about every single element of the application. You could say that some people don’t interview well and just fall apart under pressure. Not a great trait to have as a leader but people do. Some folks may have not a great GPA because they were disinterested in their undergraduate degree and others may have a rambling writing style and more of mathematical minds than a literary and that’s not able to write great application essays. You could say that all of these measurements are imperfect... How do we decide who gets in then?
I think schools have recognized some of this and are accepting GRE and other tests in leu of the GMAT. Some schools have gone GMAT optional and provide waivers. Some are even accepting MCAT and LSAT 😬
Here’s the thing, the harder it is to get something, the more exclusive it is, and therefore the more meaningful it becomes. The more meaningful is the accomplishment, the stronger are the alumni networks.
Posted from my mobile deviceGot your point, and I agree, but are they really acting in this way? I mean, are they really considering the weaknesses of this test? For example, if you didn't enjoyed your undergraduate studies and this affected your gpa, you can easily explain it and eventually why it happened, this could even enhance your profile, whereas if you have a strong gpa you have worked hard for years. On the other hand, a "poor" gmat could have been driven by many things not correlated with your skills. For instance, the time one has to prepare for it can make a huge difference... And frankly you can't have serious "excuse" in your SoP to explain it, it would be detrimental for your profile..
Hence, the likelihood that at the end of the day they will give huge importance to your GMAT score is high and so we are where I've started.
Anyway, my overall point is not that they shouldn't give importance to this test, but that over the years many factors have contributed to make it much less reliable requiring a TRUE holistic approach. However, as far as I can see, there are very few top level schools that really act in this way (especially in the US). And I believe that this is strongly linked to Elon point of view about, for example, MBAs and also to why these programs are much less (and even much less over the next few decades) widespread.