710 is the new 700

Question

So I have been seeing the posts with the old adage that with a 700 you are set at all top schools...which I really bought into last year. However, I noticed looking at stats last fall when researching many top 10 schools that it seems almost all have average GMATs higher than 700, some significantly more. So in a completely unscientific comparison. Numbers are from 2000 and then this past year (numbers for class of 2010 are not available). Interesting only Stanford has gone down...and we all know they could fill a class with 760+ if they wanted to.

In a very short time overall average has gone up 13.2 points. Haas (26), Chicago (25), Ross (23), and Tuck (21) had the changes of more than 20 points. I am sure that schools lower down in the rankings would show similar increases.

School: 2000 / 2010 / Change
Chicago: 684 / 709 / 25
Columbia: 704 / 707 / 3
Haas: 684 / 710 / 26
Harvard: 701 / 713 / 12
Kellogg: 690 / 704 / 14
MIT: 703 / 705 / 2
Ross: 677 / 700 / 23
Stanford: 727 / 721 / -6
Tuck: 692 / 713 / 21
Wharton: 700 / 712 / 12
Average: 696.2 / 709.4 / 13.2

sam77sam7 · Answer

I think this is certainly true... especially with the level of competition expected next year. If you think you may have left even 10-20 points on the table, you might as well retake and try to max that stat. I wouldn't feel comfortable unless I was over the average...

Good data to pull together River..

~Sam

Good data to pull together River..

~Sam

sonibubu · Answer

Just ties in to the whole rising GMAT score pattern that's been going on for years. I'm sure the avg GMAT was 510 or 515 10 years ago, but now it's something like 530. Pretty soon, a 770 score will be required to be in the top 1%.

kryzak · Answer

hrm... looks like they either need to make the GMAT harder or do something about this GMAT creep...

jb32 · Answer

You also have to account for a tremendous surge in prep materials and resources, such as GMATClub that were not available in 2000. :wink:

I still see 700 as the Mendoza line for the GMAT. Regardless if the average at top schools is 710 or not.

dox · Answer

I assume the 2010 numbers are actually for the class graduating in 2009..or have they already released figures for this year's entering class?

sm332 · Answer

yeah the scores are certainly increasing ... doesnt bode well for those of us on the cusp

dabots · Answer

is the score creep in scores at top schools or for scores in general. if the general average is stable, i dont think they should make the test harder.

kk.iyer · Answer

Fact 1: Just about a year ago...I got my GMAT score...720 ( 96 %ile )
Fact 2: Today if someone were to get that figure he/she would be a  95 %ile

Just goes to show how much things can change in a short period...
I think at least some of this has got to do with how many more people are taking the GMAT now than before. For instance, the quintessential techie wanting to get an MBA from a top school is commonplace now. The GMAT is obviously the first and mandatory step...Engineers having fun with numbers...means many more folks end up at the high 40's or low 50's in quant. That combined with even a decent verbal score makes 700 quite achievable. The result...? well we don't need a geek to figure it out...

The change in percentile figures above obviously has already started taking its toll on applicants.

The key for any school is to manage the "diversity" while maintaining the GMAT avg up there. And as is beginning to happen now...there will be a subsect of students who ace the GMAT but still find it difficult to make it through. Just because there are too many of the same kind.

If things continue like this...the GMAT will obviously be tweaked to make it tougher. I wonder how they'd do that too. Cos' unless they do something like a complete overhaul..there will always be people who've benefitted from taking the easier version a couple years ago..the newer so called tougher version folks will have it hard..I know that the GRE went through something like this a few years ago where they changed the scoring levels and patterns so there could be a clear distinction between the older and newer versions. I remember the few folks who ended up being among the first ones who took the newer format..literally sh@t bricks going in...

Only time will tell I guess...

VictoryMBA · Answer

My theory is that GMAT avgs will continue to increase, then plateu and eventually begin to fall again. I think as the MBA degree begins to gain more credibility in all industry sectors, the necessity to have a class full of 750+ seems less critical (ie: Stanford). What it means to be an MBA in the near future won't mean what it meant 10 yrs ago, and I think more and more people will realize this.

This could be entirely wishful thinking as well.

This could be entirely wishful thinking as well.

xerox · Answer

This year's average GMAT for the Lauder/Wharton program is 718, and it is the highest average in the history of the school.

River, it would also make sense to make GMAT spread stats to see whether the lower end of the spectrum has gone up.

msday · Answer

I agree with you river, especially with all the average GMATs going up this year. Do you predict there will be some backlash in the near future, or are GMAT scores on their way up for the next few years?

I just wonder how much longer business schools can get away with the "we look at every application holistically" line as the avg GMAT goes higher.

riverripper · Answer

There wont ever be a backlash unless the redo the way scores are calculating making it more difficult to get a 700.

branson · Answer

I agree with Victory. GMAT scores will plateau over the next few years. Other criteria will become more important in the selection process.

VictoryMBA · Answer

I knew I always liked you branson.

710 is the new 700

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