What is a Good GMAT Score 2024? How to Score More in GMAT Exam

Outline:

• How is the GMAT Scored?
• What is a Good GMAT score for Top Universities?
• Factors Affecting Your GMAT Score
• How to Prepare for a Competitive GMAT Score?
• What to Do if Your GMAT Score is Low?

GMAT is an examination and the key to accessing some of the best business schools worldwide. For thousands of aspiring MBA candidates, the GMAT is another chance to prove one’s analytical, verbal, and quantitative skills to those admissions committees worldwide who are perfectly aware of it. As only the best candidates get through the MBA programs, especially those at Harvard, Stanford, or INSEAD, fashioning a high GMAT score might be the magic wand leading to business school. 

But what is a good GMAT score? The answer to the preceding question is not easy to come by. It is essential to point out that what is considered a good score differs in several ways, for instance, about the specific universities one wants to join, the background of the applicant, or even other documents that one uses alongside GRE scores. For example, a combination of a 700 credit score may suit one candidate. At the same time, another would require a higher score to have an edge in a field with many competitors where grocers are finance or consulting.

We must also admit it is not the whole story about getting into a business school; however, it is an essential part of the overall story. The applicant’s employment background, leadership potential, undergraduate academic performance, and essays are the most critical factors considered by admissions officers. Hence, while a good GMAT score will improve your chances of getting admission significantly, it is essential to both how one sits for the test – what a good score is seen from the target institutions and how a good score fits into the overall application package.

In this blog, we will be looking at what constitutes a good GMAT score, how expectations of score differ across business schools, and advice to try and follow for tips on how to prepare for the exam to do your best and help boost your application.

How Is the GMAT Scored?

To decide what is a ‘good’ GMAT score, it is essential to know the structure and scoring of the GMAT and how the different sections affect your outcome. The GMAT tests your critical reasoning, problem-solving, and data analysis skills essential to business school studies. It is divided into four sections:

1. Analytical Writing Assessment (AWA)

This section challenges you in terms of your critical thinking ability and your presentation skills, which are essential in all lines of life. You will receive the topic, and you will have to complete an essay that examines an argument. The AWA is not part of the GMAT raw score (200-800). Still, it centers on the range of 0 to 6, and tutors will look at this section while admission committees evaluate the candidate’s ability to analyze writing skills. MBA programs and leadership positions require good communication skills, so MBA students should not neglect the AWA section.

2. Integrated Reasoning (IR)

This section is about how good or bad you are in synthesizing information from different sources, which is preferable in present-day business organizations. The IR section component ranges between 1- 8 and tests skills in the ability to interpret data through graphical presentation, tabular presentation, and multi-source reasoning. The IR score is provided separately from the overall GMAT score, but it is as crucial since more and more business schools have emphasized data skills.

3. Quantitative Section

This part checks your arithmetic and logical ability, predominantly in the quant section, and includes questions on arithmetic, algebra, and geometry. It is one of the sections that consist of problem-solving and data-sufficiency problems. The quantitative score is part of the GMAT score, varying from 6 to 51 points. Doing well here is essential, especially for applications to top quant fields such as finance, consulting, or operations.  

4. Verbal Section

This section measures your ability to read and comprehend written material, evaluate arguments, and correct written material to conform to standard written English. Like the quantitative section, the verbal section contributes to the overall score, ranging from 6 to 51. Your verbal score can significantly boost your overall score, mainly if you aim for programs that value strong communication and critical thinking skills.

The GMAT Scoring System

The GMAT has the Quantitative and Verbal sections; their scores are combined to give an overall score of 200 to 800. This overall index is the one that many business schools use when evaluating candidates. Generally, most candidates obtain a range of 400 – 600 with an average of 561. However, in the case of top-tier business schools, competition is much stiffer, where most students get between 700 and 740 or even better for competitive programs.

Even though the AWA and the IR sections are tested independently, their significance should be considered. A low IR score could prompt questions about the candidate’s capacity to make sense of rather intricate data sets, which could be helpful if one applies to a quantitatively intensive program. Likewise, the AWA doesn’t affect your composite GMAT score; however, receiving a good grade for the essay helps the admissions process because it shows an ability to express and justify thinking.

As with all standardized tests, what is a good GMAT score will vary depending on your specific goal and the schools you are applying to. Here is a breakdown of general guidelines to help you determine where you stand:

• Scores Below 550: This point is considered below the average; for many MBA programs, which are very selective, this number might need to be increased. As you will find out below, if your score is within this range, then crucial areas such as work experience and leadership roles should be stronger.
• Scores Between 550 and 650: It is typical to consider this range as average. Though some mid-ranking business schools may consider scores in this range, the candidate has to offer something else – good work experience, outstanding academic performance, or engaging essays. This score may be pretty good for the desired purpose if the candidate’s goal is admission to any of the top fifty schools – but it will not be exceptional.
• Scores Between 650 and 700: This score is usually described as suitable and sufficient for many business schools worldwide. As shown in this letter, you are well equipped with quantitative and word analytical skills, making you a good candidate. The top 50 MBA programs usually consider scores within this range positive, provided the rest of the application is quite balanced.

Scores Above 700: Any score above 700 is the one of best GMAT scores and places you on the right path to accessing top business schools around the globe. This score range is considered excellent, and chances of being accepted into such programs as Harvard, Stanford, Wharton, INSEAD, and others, a student with an average GMAT score of 720 or higher can be accepted.

Read More: What is a Good GMAT Score 2024?

What is a Good GMAT score for Top Universities?

Business schools worldwide have the following expectations of their students regarding their GMAT scores. A good score differs from institution to institution and the general profile of the applicant; nevertheless, successful candidates for these schools should have scores that exceed the global average of 561. Applicants usually receive scores from 700 to 740; however, some MBA candidates may want to score higher to beat their competitors when applying for a program.

Below is a table outlining the average GMAT scores required for some of the world’s most prestigious MBA programs:

Read More: Top 10 GMAT Accepting Colleges in the World – Updated 2024

Factors Affecting Your Target GMAT Score

Your target GMAT has to fit into the average GMAT scores offered by the target schools as well as the rest of the picture painted with the application. Here are some critical factors to consider:

1. Quantitative and Verbal Split

Schools of management analyze your Quantitative and Verbal Scores and how the two are balanced. Even though getting a high composite score is important, attempts to level Quant and Verbal sections may affect your candidacy because of the program’s focus. 

STEM-related programs or MBA majors in Finance or Consulting, for instance, are likely to place a premium on Quantitative thinking. For such programs, you will have to make sure that your Quant score is above 90% of the test takers.

2. Industry Representation

Applicants from the fields that are most frequently reported by MBA programs, such as finance, engineering, and consulting, are known to score higher on the GMAT. In the case of these applicants, passing a minimum score above 720 may be not only mandatory but also routine. However, schools may accept slightly lower scores if the candidate comes from a non-traditional background, has no hand in a typical sector, and has a strong leadership, innovation, or Community Service statement.

3. Quality Work Experience

The vast majority of ranked schools also factor in an applicant’s quality of work experience and leadership experience to GMAT scores. A weak GPA, along with lower years of experience, can be overshadowed by a high GMAT score. Depending on the GMAT score, business schools can gain insight into the candidate’s career progression, leadership practices, and problem-solving abilities.

For instance, a candidate with colossal leadership experience in the non-profit segment or a successful start-up may join schools like Stanford despite low GMAT scores, which score between 680-700.

4. Undergraduate GPA

Your undergraduate GPA also plays a huge role here. You may also find that applicants with higher GPAs may not be as intertwined with their GMAT score as other candidates if they do not necessarily have a more favorable score range (above 3.7). On the other hand, if your GPA is below the school’s average, you will need to score a high GMAT score to balance.

A quantitative GPA may be compensated with a high GMAT Quant score (above the 90th), which is especially important if the program has many analytical elements.

5. Diversity and International Applicants

Academic requirements that admissions committees consider important include diversity in matters relating to professional experience, geographical origin, and other experiences. GMAT expectations vary depending on the geographical location of the international students. That is why applicants from India or China provide high scores, as more competitors exist in their countries. This means applicants from underrepresented countries or non-business backgrounds may have more leeway with their scores, but they should stress how they can bring differentiation to the class.

How to Prepare for a Competitive GMAT Score

Appropriate preparation should be done when taking the GMAT because the goal entails getting a high score. Here are some tips to help you maximize your score:

1. Set a Target Score: Find out the average GMAT scores for the schools you are interested in and choose the target with the help of the information you get.
2. Identify Weaknesses: Formal or informal, mathematical or figurative, prove your weak areas and try to correct them by systematic exercise.
3. Take Practice Tests: Take complete-length model exams to familiarize yourself with the conditions of the actual test. This will make it easier for you to prepare yourself with the format and timing of responses and work out areas requiring more intensive practice.
4. Use Quality Study Resources: It may be helpful to picture using material such as GMAT prep courses, textbooks, and online services to enhance learning. Most students find that the best strategy combines the two approaches.
5. Time Management: Another tip about the test is that there is a time limitation, so performance must be balanced well. This way, it is possible to plan which questions can be answered in the available class time without hurrying through the questions.
6. Maintain a Balanced Lifestyle: Preparation for the GMAT can be quite a taxing exercise in terms of not only the brain but also the body. Never sit for long, study without standing up, and always eat right and sleep well.

What to Do if Your GMAT Score Is Lower Than Expected

Even though the GMAT score is also an essential criterion for preparing an application, if you have the opportunity to achieve the desired result, then it’s not necessary. There are many other ways to enhance your chances. First, one’s strategy might include retaking the GMAT if you think you can score better than you did due to a lack of preparation. About 40% of the applicants sit more than once, and business schools usually use the best scores.

Further, an emphasis should be placed on improving other aspects of your application. Such essential components can quickly compensate for a low GMAT: extending professional solid experience, obtaining additional managerial positions, and having a fascinating personal history.

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