The Graduate Management Admission Test (GMAT) is an essential part of the admission process for graduate business schools across the globe. This multiple-choice, computer-based, and computer-adaptive exam is administered by the Graduate Management Admission Council (GMAC) to evaluate applicants' eligibility for graduate-level academic work.

The GMAT test is divided into several sections, including Verbal, Integrated Reasoning, Quantitative, and Analytical Writing Evaluation. Each section receives a separate score, and a good GMAT score indicates a candidate's ability to handle the rigorous coursework required in an MBA program.

Business schools believe that a good GMAT score indicates a candidate's ability to succeed in their MBA program. Typically, a GMAT score of 700 to 740 is considered good. In this blog, we will explore colleges that accept GMAT scores of 700 and above and their respective scores, providing you with a comprehensive understanding of what a good GMAT score is.

Is a GMAT Score of 700 and Above Good Enough? 

The GMAT, or Graduate Management Admission Test, is a standardised exam that business schools use to assess a candidate's ability to undertake graduate-level academic work in business. A good GMAT score is crucial to getting accepted into the top business schools, and the score range for a good score is typically 700 to 740.

Achieving a score of 700 or above on the GMAT is significant. It demonstrates to business schools that you have the skills and knowledge necessary to excel in their programs. A good GMAT score shows that you can handle the demanding coursework required for an MBA program.

In addition to demonstrating your academic abilities, a good GMAT score can open up new opportunities for you. It can help you gain acceptance to top-tier business schools, leading to better job opportunities and higher salaries after graduation. A high GMAT score can also make you eligible for scholarships and other financial aid, making your MBA more affordable.

While a GMAT score of 700 or above is generally considered good, it's essential to remember that different business schools have different score requirements. Some schools may require a higher score, while others may accept a lower score. It's essential to research the schools you are interested in and their specific score requirements to determine if your score is good enough to meet their standards.

Furthermore, it's important to remember that the GMAT is just one part of your overall application package. Business schools also consider other factors such as work experience, undergraduate GPA, essays, and letters of recommendation. A good GMAT score can help you stand out, but there are other factors schools consider.

If you do not achieve a score of 700 or above on the GMAT, don't worry. It's still possible to gain acceptance to a good business school with a lower score. Some schools have a more holistic approach to admissions and consider factors beyond your GMAT score. Additionally, you can compensate for a lower GMAT score by emphasising other strengths in your application, such as your work experience or leadership skills.

A GMAT score of 700 or above is generally considered reasonable and can open up many opportunities for you in the field of business. However, it's important to remember that different schools have different score requirements and that the GMAT is just one part of your overall application package. With hard work and determination, it's possible to achieve success in the business world regardless of your GMAT score.

Colleges Accepting GMAT Scores of 700 and Above

The following colleges and universities have a minimum GMAT score requirement of 700 or higher for admission. Suppose you have achieved a score of 700 or more. In that case, consider applying to the institutions listed below:

1. Stanford University: Located in the heart of Silicon Valley, Stanford University is a private research university offering a range of business, science, engineering, humanities, and social sciences programs. Some popular programs offered by Stanford University are MBA, MSx, PhD in Management, and Executive Education programs. The estimated cost of attendance for the MBA program is $150,000, which includes tuition, fees, and other expenses.
2. Boston University: Boston University is a private research university in Boston, Massachusetts. The university offers business, economics, health sciences, law, and social sciences programs. Boston University offers popular programs: MBA, MS in Management Studies, and PhD in Management. The estimated cost of attendance for the MBA program is $104,800, which includes tuition, fees, and other expenses.
3. Georgia Institute of Technology: Georgia Institute of Technology is a public research university in Atlanta, Georgia. The university offers several engineering, science, computing, business, and social sciences programs. Georgia Institute of Technology offers popular MBA, MS in Analytics, and PhD in Management programs. The estimated cost of attendance for the MBA program is $55,000 for in-state students and $80,000 for out-of-state students, which includes tuition, fees, and other expenses.
4. Yale University: Yale University is a private Ivy League research university in New Haven, Connecticut. The university offers business, law, medicine, public health, and social sciences programs. Some popular programs Yale University offers are MBA, PhD in Management, and Executive Education programs. The estimated cost of attendance for the MBA program is $107,000, which includes tuition, fees, and other expenses.
5. Northwestern University: Located in Evanston, Illinois, Northwestern University is a private research university offering a range of business, engineering, law, medicine, and social sciences programs. Some popular programs Northwestern University offers are MBA, MS in Management Studies, and PhD in Management. The estimated cost of attendance for the MBA program is $144,000, which includes tuition, fees, and other expenses.
6. University of Chicago: The University of Chicago is a private research university in Chicago, Illinois. The university offers business, economics, law, public policy, and social sciences programs. Some popular programs offered by the University of Chicago are MBA, PhD in Management, and Executive Education. The estimated cost of attendance for the MBA program is $149,000, which includes tuition, fees, and other expenses.
7. Dartmouth College: Dartmouth College is a private Ivy League research university in Hanover, New Hampshire. The university offers business, engineering, medicine, and social sciences programs. Some popular programs Dartmouth College offers are MBA, PhD in Management, and Executive Education programs. The estimated cost of attendance for the MBA program is $139,000, which includes tuition, fees, and other expenses.
8. Massachusetts Institute of Technology: Massachusetts Institute of Technology (MIT) is a private research university in Cambridge, Massachusetts. The university offers business, engineering, and social science programs. Some of the popular programs offered by MIT are MBA, Master of Science in Management Studies, and PhD in Management. The estimated cost of attendance for the MBA program is $170,000, which includes tuition, fees, and other expenses.
9. University of California, Los Angeles: The University of California, Los Angeles (UCLA) is a public research university in Los Angeles, California. The university offers business, law, medicine, public health, and social sciences programs. Some of the popular programs offered by UCLA are the MBA, Master of Financial Engineering, and Master of Science in Business Analytics.

Frequently Asked Questions Regarding a GMAT Score of 700 or Above

Is a score of 700 or above acceptable?

While your admission to a graduate business school is not solely dependent on your GMAT score, having a score of 700 or above widens the range of universities to which you can apply. A score of 700 or above sets you apart from other applicants and increases your chances of being accepted into a renowned college.

What is the range for GMAT scores?

The range for GMAT scores is from 200 to 800 points. A GMAT score between 700 and 740 is adequate to be accepted into reputable colleges.

How long is a GMAT exam score report valid for admission?

The GMAT exam score report is valid for five years.

What is the typical GMAT score?

The average GMAT score is 565 on a scale of 800. However, a score of at least 700 must be admitted to reputable colleges.

How is the GMAT score calculated?

The GMAT score is calculated by considering the total number of questions attempted, the total number of correct answers, and the difficulty level of the questions.

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