Should I Take the GMAT for Business School?

If you’re considering applying to business school, you may be wondering if you need to take the Graduate Management Admission Test, or GMAT.

A quick google search for most programs will tell you the same thing. Many top MBA programs, including some Rice Business programs, now offer test waivers or have gone test-optional. But what it won’t tell you is that the GMAT is still worth taking — and can be a powerful advantage.

Here’s what you should know about the GMAT and why you might want to take it.

Signals Academic Readiness

The GMAT is a standardized exam that measures analytical, quantitative, verbal and reasoning skills. For decades, b-schools have used the test to gauge prospective student readiness. 

At Rice Business, we value students from all backgrounds — humanities, social sciences, creative fields and beyond — and the perspectives they bring to the classroom. However, if your undergraduate major didn’t emphasize quantitative skills, the GMAT is a way to demonstrate you’re prepared for the rigors of finance, accounting and data-driven MBA coursework.

Helps You Stand Out in a Competitive Pool

Top MBA programs attract thousands of talented applicants. Even in a test-optional world, submitting a competitive GMAT score can help differentiate your application.

Think of it this way: If many applicants skip the test, then those who do submit strong scores are more likely to stand out. At Rice Business, we take a holistic view of every application, but for many schools, the GMAT can serve as a valuable tie-breaker in a competitive pool.

Boosts Employer Perception

Many MBA applicants don’t realize that certain industries still look at GMAT scores during recruiting. Investment banking, private equity and top consulting firms are known to ask for them, even post-MBA.

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Why? A GMAT score is seen as an indicator of problem-solving ability and analytical strength.

More than half of Rice MBA graduates pursue careers in consulting, investment banking and energy finance. For students exploring careers in investment banking and financial services — and especially those pivoting in from another field — a strong GMAT is more than a check box. It’s your competitive edge as employers consider which applicants to extend an interview to.

Because our Career Development Office (CDO) is in regular conversation with top recruiters, we’ve seen the difference having a solid GMAT score can make in highly selective recruiting processes. Continue reading about what else recruiters are looking for.

Potentially Unlock Scholarship Opportunities

There are a variety of scholarship opportunities for Rice Business students — but merit-based scholarships are one of the main ways we help Full-Time students finance their degrees.

In review, our admissions board considers factors like career progression, community involvement, personal strengths and especially academics. This means a high GMAT score can potentially translate directly into financial savings.

Offers Future Flexibility

Did you know your GMAT score is valid for five years once you take the exam? 

If you decide to apply somewhere else or your top school changes its admissions requirements, it’s never a bad idea to have a test score handy. Taking the test now gives you options later — without the pressure of studying again down the road.

Shows Commitment 

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Sitting for the GMAT is a signal. Not only does it show schools and top companies you’re serious about business school, it shows you're ready to compete at a high level. Admissions teams, including our Rice Business Recruiting and Admissions Office, notice that kind of commitment.

Submitting a test score isn't about perfection, it’s about demonstrating effort, preparation and a willingness to challenge yourself — qualities that will prove useful long after you graduate. 

So, Should You Take the GMAT?

Depending on your desired program, you may not need to take the GMAT. But if you’re applying to a top MBA program like Rice Business, we recommend it — considering it can strengthen your application, improve your funding opportunities and boost your recruiting success later on.

Learn more about the GMAT and GRE from our admissions team.

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