The New GRE – GMAT Killer?

At one point in time, the Graduate Management Admissions Test (GMAT) was the de facto exam that students took to get into business school. But in 2006, the creators of the GMAT, the Graduate Management Admissions Council (GMAC), decided to sever ties with the Educational Testing Service (ETS), who up until that point had administered the exam. This move, which ended the non-compete clause that the GMAC held over the ETS, allowed the ETS to challenge the stranglehold that the GMAC had on business school testing.

Since 2006, the ETS has been campaigning schools to accept the GRE as an alternative to the GMAT. According to a press release by the ETS, “About 450 MBA programs worldwide now accept the GRE test, including 45 percent of the U.S. News & World Report’s top 100 U.S. programs and seven of the top 10 global MBA programs according to The Financial Times.” These schools include some of the top-ranked business schools in the world, such as Harvard, Stanford, Wharton at UPenn, Stern at NYU, and Sloan at MIT.

Additionally, the revised GRE, coming in August of this year, is in part meant to make the exam more attractive to business schools. The ETS website states, “ETS has revised the test to better reflect the kind of thinking you’ll do in graduate or business school and improve your test-taking experience. New types of questions now more closely align with the skills you need to succeed in today’s demanding graduate and business school programs.” Removing analogies and antonyms, for instance, shifts the focus away from memorization and towards analysis and understanding.

It’s no surprise that more and more schools are starting to accept the GRE. The ETS estimates that there are approximately 700 GRE testing centers in 160 countries around the world; contrast this with a 2010 GMAC press release, which estimates that there are 500 testing centers in 110 countries. Schools that decide to accept the GRE can expand their applicant pools by making it more convenient for international applicants applying to US business schools in this era of globalization. Additionally, the move to accept the GRE is beneficial to students as well. Those who are trying to decide between going to graduate school and going to business school don’t have to choose one over the other or worry about taking two tests (and paying two registration fees) — they can simply take the GRE and apply to both. Testmasters recommends that prospective students take both tests and submit the higher score.

With the upcoming release of the new GRE and the momentum that the ETS has built up over the past several years, we can expect to see more and more business schools accepting the GRE for admissions. Of course, the GMAC is not simply twiddling its thumbs as the ETS courts its primary market — the GMAT is scheduled for a major facelift in 2013 to give the exam more business-specific content.

But who knows? By then, it may be too late.

Top Ten Reasons Why I Should Start Taking The GMAT Exam

The Graduate Management Admission Test, which is also known as the GMAT, is required by many of the top business schools. Many people put off taking this test until the last moment. There are many reasons why you should start taking it now or at least take its practice tests. The particular test is a big step for a lot of people, and it may be a requirement for you to get into a graduate program.

Reasons Why You Should Start Taking the Test

  1. The graduate program that you want to attend may require you to take the test before you can begin working on your certified MBA. It is a good idea to get this out of the way as soon as possible so you know for certain come enrollment time that you are a candidate for the graduate program.
  2. It takes a lot of people awhile to actually pass this particular test so you should be sure that you can pass it before it is time to begin your MBA course of choice.
  3. There are many different sections of the GMAT and you need to make sure that you are going to pass them all to get into your graduate program. There is a verbal, quantitive reasoning, and analytical writing section to pass. If you start taking the test now you’ll be sure to have a passing score by the time you need to enroll for your program.
  4. You should start taking the test now as all of the top business schools have different requirements. They all have specifics about the grading of the test and how you score. You want to have plenty of time to take action if you don’t meet the requirements for one school but you do for another.
  5. This particular test will prepare you for other entrance exams that you may have to take to get into business school or a graduate program.
  6. Taking the test and passing will show that you are serious about a job in the business field and your place in a business school.
  7. In addition to a certified MBA many businesses like to see that a person has passed the test as well.
  8. This particular test will give you an idea of where you stand. How well you do on the exam will show, for many people, what your strong points are and what your areas of opportunity may be.
  9. Taking the test now will free up funds for later, as it usually costs $250 and you might need this money when it comes time to enroll.
  10. Top business schools often don’t require the test but will give preference to those that have taken and passed the test.

As you can see, there are a lot of reasons for you to take the test. It’s not the easiest test, but with some studying you’ll be able to take it on. The GMAT will look good on your transcript and give you a leg up on the competition.

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