GMAT vs. GRE
The GMAT—a test that is specifically designed for aspiring graduate level business students—is confronted with a relatively new (last couple years) competitor, the GRE, a test traditionally associated with any program besides business, law, or medicine. Why? ETS, the company behind the GRE, has recently received the GRE (August 2011), and the “new GRE” is even more similar to the GMAT than the “old GRE” was. Some might speculate (I among them) that the major GRE revision was a move to try to grab market share. Here are the results:
- 2009: 24% of programs accept the GRE as an alternative to the GMAT;
- 2010: 39%
- 2011: 52%
Those numbers are based on an annual survey of 250+ business schools conducted by Kaplan. As you can see, this year is the first one since we’ve started tracking the issue that a majority of business schools have accepted the GMAT.
If you surf the websites of the two tests, you’ll find lots of stuff on the GRE site focusing on business schools and would-be MBA students. For example, here’s a link to a page titled “Taking the GRE® revised General Test for Business School is a Smart Choice.” Here’s another for an article written back in December 2010 describing and providing links to a comparison tool created so business schools can more easily translate submitted GRE scores into GMAT scores. Wanna watch a seven minute video that goes on and on about why accepting the GRE is a “good business decision?” Have a look at the ever-growing list of b-schools that are now accepting both the GRE and the GMAT.
Click over to the GMAT’s site (www.MBA.com) and you will find hints of GMAC’s main counterstrike: Integrated Reasoning. You’ll need to learn more about Integrated Reasoning if you’ll be taking the GMAT in 2012, because in June of 2012 the GMAT will have an entirely new section, with a separate score and 4 new question types. I hear that we’ll have more to say about that with a white paper coming out in October. The plot thickens…