One of the reasons for the low averages may be that they accept students for reasons other than high GMAT scores.
Seriously Harvard Stanford, MIT, Nwestern, are all 720 or below. That's not very good at all. If a dope like me can get a 730 then why are their averages below that? Is GMAT just not that important? Is it really just work experience that rules all? I'm curious because a 720 isn't that good, and was figuring that those top schools would have score in the 750+ range.
I wouldn't necessarily say that a 720 is low at all. anything in the 700's is pretty good actually. You have to also consider that some of these programs are looking at your quantitative score. So if you got a 720 or higher, but your verbal was much higher than your quantitative, that may not necessarily mean you will get in. It depends on the program. Either way, GOOD LUCK!
Business school is not a mosque or a temple. It is a business. so let's say I have 800 in GMAT have perfect GPA, every thing is cool so far. now Harvard needs 500 students. Each will spend 180,000 USD. that is 90 million dollar. for 2 years. pretty good , aey? now if I am given a chance, I would ask for full scholarship. that is a lose of 180k . Not a huge lose , but a significant one indeed.
Most people do not write the GMAT. The people who write the GMAT are typically very intelligent, so a 720 means you scored higher than 95% of those people.
It's also important to note that your GMAT score accounts for about 20 to 25% of your application. If a candidate isn't going to add value to an MBA cohort, then he/she will not get accepted, despite a high GMAT score.
Rest assured, when you consider all of the factors that go into a solid MBA application, it's unlikely that many "dopes" get into the aforementioned schools.
For your information GMAT alone won’t determine chances of admission in these colleges; your involvement beyond the academics will also help you in determining your candidature and your work experience plays a vital role as well. So you would need to differentiate yourself from others. Start thinking what makes you unique and what’s that ‘hook’ that will be the key to your application. Although it is not just the work experience that counts but also what you did there like-what were your achievements, what initiative you took, what changes you drove in your workplace etc.
If you wish to apply to top business schools then one of the prerequisites is having significant work experience. Generally candidates have around 4-5 years of full time experience in spite of several term time projects or jobs; so you may be competing with other candidates who have 4-5 years of full time experience and have started significant initiatives at college. A score above 700 is generally required. It’s not just the academics but beyond academics, quality of your work (what you did there like-what were your achievements, what initiative you took, what changes you drove in your workplace etc all play an important role in determining your candidature. So make sure you focus on all these aspects and not just the gmat.
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