GMAT Score Preview – GMAC ups the ante against GRE
The Graduate Management Admissions Council or GMAC upped the ante against the GRE test today by announcing a new feature wherein test takers would have the ability to preview their scores before deciding whether or not they wish to report them.
GMAT Score Preview – Starting June 27 2014
Ashok Sarathy
VP, Product Management, GMAC
As per the new change, which would come in effect starting June 27 2014, candidates would be able to preview their unofficial scores immediately after taking the test and would be able to decide within two minutes whether or not they want to report the score.
Moreover, test takers who may have canceled their test scores would be able to reinstate their scores within 60 days of the test date for a $100 fee.
Ashok Sarathy, GMAC Vice President of Product Management, said “The new score reporting feature gives test takers more certainty and control in the testing process and in how their scores are reported to schools.”
The change will take effect in all 600 test centers around the world beginning on Friday, June 27 2014. This change would not affect Analytical Writing Assessment or AWA scores.
The GMAT is used by 6,100 graduate and business management programs around the world including leading business programs in U.S. and Europe and Indian School of Business in Hyderabad and Mohali.
GMAT vs. GRE
Over the past few years, ETS – the organization that administers the GRE test – has stacked up an impressive list of schools that accept the GRE for MBA applicants. This list boasts schools such as Harvard Business School, Wharton and Stanford. More importantly, there has been a rapid increase in average GMAT scores listed by schools. In the past five years, the average scores have risen from the 705-710 range at the leading U.S. programs to the 725-730 range. Further, GMAT scores play an important role in schools’ rankings such as U.S. News.
All these factors combined have increased applicants’ appetite to take the GRE to differentiate themselves from students taking the GMAT. Leading programs now receive a significant portion of applications with a GRE score. For example, at Yale this number is as high as 18% of the applicant pool.
These factors have undoubtedly had a role to play in this shakeup of the GMAT. This new feature bodes well for applicants as it reduces their risk while appearing for the GMAT. Moreover, it also would likely increase GMAC’s revenues due to two reasons:
1. Applicants who may have scored lower than expected, would likely cancel their score and re-appear for the test
2. Applicants who may have canceled their score may decide within 60 days to reinstate their fee at a cost of $100
All in all, it is a great business move by GMAC and it would be interesting to see how the folks at ETS counter it to continue their upwards trajectory.
Impact on Score Report
As a candidate considering retaking the GMAT as a result of this policy change, one might wonder how this change would appear on the score report.
Tracey Briggs, Media Relations Director at GMAC, informed Crack The MBA that score cancelations would be noted in subsequent score reports. Therefore, the policy on cancelations remains the same as what it was prior to this change.
