The average score on the Graduate Management Admission Test is around 547. The average scores of accepted applicants to the nation’s most elite business schools is much higher. One school recently set a class average score record that places them in the ninety seventh percentile of all test takers. Any guess which one?
Elite test scores are not essential, but business school applicants need to be aware of how the testing trend impacts their application.
Even programs that are elite but not “Big 3” are making the GMAT average daunting. MIT’s class average is now almost 730. It’s no surprise that Stanford’s 740, ranking the average score as 97th percentile, leads the pack. Stanford has long been the top average.
So how can you compare when the averages are so high? Should you even bother applying?
Keep in mind that averages are just that, averages. Stanford’s range in last reported year was 590 to 790. Notice there’s no 800 and yes at least one student didn’t even break 600.
If you’re in an over-represented group, pour some more energy into GMAT prep. You need to stand out. If you have an interesting profile, make sure you’re at least competitive. Anything below 710 at these top tier programs should be considered a Hail Mary. You’ll need incredible other stats, essays, and letters.