Back and forth.
A swinging pendulum.
Average scores on the Graduate Management Admission Test plummeted in 2020 as business schools loosened admissions standards amid the worst global health crisis in century. Schools cracked the gates open just a bit more than usual, making GMAT waivers easier to get and extending application deadlines; some abolished test requirements altogether. Other factors contributed: a clunky rollout of the online version of the GMAT, and the steady, persistent market incursion of the test’s main competitor, the Graduate Record Exam.
Did all this signal the demise of the GMAT, long the primary exam to gain entry to graduate business education? Not quite. As we saw in November, GMAT averages at the leading U.S. B-schools skyrocketed in 2021 — and a new analysis of class profile data at the top 50 U.S. schools shows the huge rebound was enjoyed across the spectrum, with 20 schools reporting double-digit jumps in just one year and most reversing the declines suffered in 2020. At a handful of B-schools in Europe, the trend across the last five years was less pronounced but mostly positive, as well.
The GMAT may be in trouble for a new reason: U.S. News has revised the methodology for its 2021 online MBA ranking omitting the GMAT and GRE as factors in the ranking process. See our story here. (LINK)
5-POINT JUMP FOR STANFORD, WHICH LEADS ALL SCHOOLS WITH A 738 AVERAGE
Many of the top 100 U.S. B-schools made the GMAT optional in 2020, policies that were still in place through 2021 (and up to today). But if anyone thought that would lead to long-term score declines, they were mistaken.
In 2021, 22 out of the top 25 schools, and 32 of the top 50, saw year-over-year GMAT average increases. Only seven schools saw declines, out of 42 with available data. Compare that to last year at this time, when we reported that 30 schools saw declines out of 37.
Stanford Graduate School of Business led all schools with a 738 average, up from 733 last year and a new school record, eclipsing by 1 point Stanford’s marks of 2016 and 2017. After the GSB, the top five in average GMAT were Penn Wharton at 733, Chicago Booth at 732, and two New York schools, NYU Stern and Columbia Business School, which tied at 729. Harvard Business School and MIT Sloan School of Management, two of the four B-schools that report median scores, were at 730 this year; for HBS that was flat from 2020, but for MIT it was a 10-point jump.
The average two-year increase in the top 10 (seven schools) was 5.3 points; in the top 25 (21 schools), 9.2 points; and in the bottom 25 (10 schools), 17.6 points, the latter fueled by double-digit gains at nine schools, including 36 points at Southern Methodist University Cox School of Business. Not included in these calculations but notable nonetheless: a 30-point increase at UC-Davis School of Management, which currently sits outside the P&Q top 50 at No. 52.
15 B-SCHOOLS HAVE SEEN DOUBLE-DIGIT GMAT AVERAGE INCREASES SINCE 2016
Digging into the data, we find that after SMU Cox, Indiana Kelley School of Business had the biggest year-over-year GMAT average increase, of 27 points (to 679), followed by Penn State Smeal College of Business (+27 to 666) and Miami Herbert Business School, the No. 50 B-school in P&Q‘s ranking this year, which grew its class GMAT score by 23 points to 656.
Across six years, the average class score increase in the top 10 (7 schools) was 5.1 points, led by Columbia and Berkeley, which both gained 9 points in that span; at the top 25 (18 schools), 9.9 points, led by USC Marshall (+24), NYU Stern (+19), and Duke Fuqua (+18); and at the top 50 (30 schools), 12.5 points, with the biggest reported by the University of Tennessee-Knoxville Haslam College of Business, which has improved its GMAT average an amazing 53 points, to 680. Also notable in the bottom half of the top-50: SMU Cox’s 24-point gain, and the University of Utah Eccles School of Business, up by 26 points.
Overall, 20 schools saw double-digit increases over two years, and 15 over 6 years. Ten schools have seen double-digit increases in both 6- and 2-year windows. And 26 — more than half — of all top 50 schools have seen increases in GMAT average in both the short- and the long-term; just last year only three schools could make that claim.
One reason for the jump in GMATs at so many schools: more applications. Most schools saw app boosts in the 2020-2021 cycle, giving admissions offices a deeper talent pool to choose from. “While there are a number of factors that play into our average GMAT, the main factor that allowed us to increase the average GMAT for this fall’s entering class was our 61% increase in applications,” Indiana’s Jim Holmen told P&Q in November. “The increase in applications allowed us to be a bit more selective.”
The lowest average GMAT scores are interesting, too. In the top 10, Dartmouth Tuck takes the honors (724); in the top 25, Indiana Kelley (679), one of only four top-25 schools that are sub-700 (last year it was seven schools); and in the top 50, Notre Dame Mendoza, at 635.
BIGGEST DECLINE OVER 6 YEARS: NOTRE DAME, DOWN 48 POINTS
Since 2016, only four B-schools in the Poets&Quants top 25 have seen an overall decline in the average GMAT score of their incoming full-time MBA classes; six more schools in the lower 25 have seen a drop-off in that time. Altogether that’s just one-fifth of all schools. The lesson: Over the years, fluctuations in score averages tend to even themselves out, and most schools gradually improve their class-wide scores.
Only one school in the top 25 reported a GMAT average decline from 2020 to 2021: UC-Berkeley Haas School of Business, which reported a statistically insignificant 1-point drop to 726. (Last year, interestingly, Haas was one of only three top-25 schools to avoid a slipping GMAT.) Last year, 18 top-25 schools reported Y-O-Y declines from 2019 averaging 5.5 points.
In the lower 25, six schools saw year-over-year declines averaging 11.5 points in 2021. That’s an improvement from last year, when 12 lower-25 schools reported Y-O-Y declines averaging 14.3 points. Over all the top 50 across six years, 10 schools have declined, with the biggest drop-offs coming at Notre Dame Mendoza (-48), Wisconsin School of Business (-23), and MSU Broad (-20).
Overall, just three B-schools across the top 50 reported double-digit declines from 2020 to 2021, and three reported double-digit declines from 2016 to 2021.
And in Europe, INSEAD and London Business School continue to pace the top B-schools in terms of GMAT average; both are at 708, with INSEAD gaining 2 points in the last cycle and LBS gaining 8. IESE in Spain saw an incredible 20-point swing in one year, to 690, bring the Barcelona-based school back to its 2017 level. Most of the 10 European B-schools examined by P&Q are up since 2020, but still down since 2017. Warwick Business School in the UK is down 11 points in both the two- and five-year windows.
See the next pages for a complete 6-year overview of Graduate Management Admission Test averages at the top 50 business schools in the United States. On page 2 you will also find a table of GMAT averages at 10 of the leading European B-schools.
Source Here: poetsandquants.com
MBA Handicapping: Can You Punch Above Your Weight (GPA/GMAT) at Harvard/Stanford?
Shriya is a 27-year-old consultant working in London for a boutique firm. She applied to Stanford in round 2 last year and re-applied in round 2 this year, but had not gained an interview.
Her question: Has anyone ever gotten into Stanford on the third try?
Our answer: Not with a 690 GMAT score.
But Shriya does plan to retake the test, aimed for a 700-plus score and wants to apply again. She also plans to wider her options by applying to the first time to UC-Berkeley, UCLA, Wharton, Harvard, Stern and Kellogg.
Besides working as a consultant for two and one-half years, she also worked for Equiniti Group Plc, a London-based fintech firm for four and one-half years, during which she gained three promotions. She has a bachelor’s degree in biomedical sciences from the University of London.
In this episode of Fridays With Sandy, HBSGuru.com founder Sandy Kreisberg candidly tells Shriya to give up on a third try at Stanford and assesses her chances at her other target business schools.
DON’T MISS PREVIOUS FRIDAYS WITH SANDY EPISODES
The post MBA Handicapping: Can You Punch Above Your Weight (GPA/GMAT) At Harvard/Stanford? appeared first on Poets&Quants.
Original Article: poetsandquants.com
Meet the MBA Class of 2023: Ricardo Aaron Carrillo, Dartmouth College (Tuck)
Ricardo Aaron Carrillo
Hometown: Guadalajara, Jalisco, Mexico
Fun Fact About Yourself: In the last eight years, I have lived in seven cities on three different continents.
Undergraduate School and Major: ITESM—Tecnológico de Monterrey, Architecture
Most Recent Employer and Job Title: Woods Bagot Architects, Senior Designer
What word best describes the Tuck MBA students and alumni you’ve met so far and why? Encouraging. From my application process to being admitted, I have seen this value in all Tuck students and alumni. Every Tuckie I have met has been so invested in helping me achieve my goals. People like Michael Barbe (T’22), Kristin Ng (T’22), and Sanjana Tikkoo (T’22) exhibited selfless support to me even before I was part of this family. Compared to other top schools, Tuckies truly surprise you with an unparalleled level of encouragement. It is simply unique; I’ve never seen anything like this.
Aside from your classmates, what was the key part of Dartmouth Tuck’s MBA programming that led you to choose this business school and why was it so important to you? It would be the general management program, challenging core curriculum, student collaboration, and career outcomes. The general management program at Tuck allows you to gain skills to be successful in any industry you want. A combination of cases and traditional classes are used to gain the hard skills that complement case discussion. For me, being part of a school that took a structured core curriculum and had a collegial student body was crucial in my MBA school selection.
What course, club or activity excites you the most at Dartmouth Tuck? It is really hard to mention only one, but I will mention where I will be more involved. I am really excited to engage with Tuck Pride, the Finance Club, the Rugby Club, and the Center for Business, Government & Society. I am interested in Tuck Pride as I would love to attract even more LGBTQ+ individuals to our community and push forward LGBTQ+ representation in the business world. I also chose the Finance Club because I am fascinated by the power finance has to change the lives of many people. I chose the Rugby Club because I love to play rugby, and the Center for Business, Government & Society as I want to be more effective in creating social change.
What excites you the most about coming to live in Hanover? What is the one activity you can’t wait to do? The aspects that excite me the most about living in Hanover involve being in contact with nature, to have spaces to reflect on the big issues I want to solve and engage with my classmates 24/7. Hanover is a safe, friendly, and utterly charming place. One activity that I can’t wait to do is to play rugby. I love the comradery, collaboration, and open communication rugby brings out of each player.
Describe your biggest accomplishment in your career so far: I consider my biggest accomplishment to be the mentorship I offered kids, teenagers, and younger staff in my previous industry. Mentoring low-income kids and LGBTQ+ teenagers, while helping them to take positive changes in their lives, has been the best thing I’ve ever done.
How did COVID-19 change your perspective on your career and your life in general? COVID-19 taught me a lot of lessons. It taught me to keep dreaming and be industrious while making positive change for a better society. The COVID-19 pandemic caused me to re-evaluate my life, goals, and relationships with others. In my career, I realized that I wanted to be a more effective agent of change for minorities—women, LGBTQ+, and racial minorities—around the world.
What led you to pursue an MBA at this point and what do you hope to do after graduation? I am pursuing an MBA because of the impact it allows you to have in the world. I want to have a positive imprint on our planet. An MBA will help me develop the skills and credibility to bring more diversity to the workplace, to help others get better jobs, improve society, and work on nonprofit endeavors. After graduation, I hope to continue working in a company that allows me to advocate for more diversity and opportunities for minority groups while creating wealth for everybody.
What other MBA programs did you apply to? Harvard, Wharton, Oxford, LBS, Stanford, and Yale.
What advice would you give to help potential applicants gain admission into Dartmouth Tuck’s MBA program? I love this question! First, I would like to say there is no formula. Tuck is transparent in how applications are evaluated and what the school is looking for. Tuck looks for smart, accomplished, aware, and encouraging individuals.
Second, take the GMAT or GRE and score at or above the school mean. However, if you have taken it a few times and are still below the mean score, do not let it deter you from applying. Schools recognize that you are more than a score. On this subject, I personally recommend test prep services like GregMat, who was a game changer in my preparation.
Third, get to know Tuck. Go to the school’s Diversity Conference (DivCo) and Women in Business Conference. Attend admissions events, meet ambassadors, engage with clubs, and talk to alumni. I view Tuck as a family, not just classmates or a “network.” I really mean family, where you develop trust with classmates and alumni, and people will have your back. For this reason, I encourage you to get to know the family and demonstrate how you can contribute to the community here.
Fourth, do a lot of self-reflection on your essays, show your true self, be vulnerable, and leave your ego at the door.
DON’T MISS: MEET DARTMOUTH TUCK’S MBA CLASS OF 2023
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Original Source: poetsandquants.com
Meet the MBA Class of 2023: Francisca Carpentier, Dartmouth College (Tuck)
“A curious learner who firmly believes that we change the world with our day-to-day actions.”
Hometown: Santiago, Chile
Fun Fact About Yourself: I am probably among very few women arriving at their MBA experience pregnant! My husband is a fellow Tuckie, and the school was very supportive with planning how to approach this academic year. We couldn’t be more excited. Many classmates have already volunteered to babysit!
Undergraduate School and Major: Bachelor of Business Administration, Pontificia Universidad Catolica de Chile and Master of Science in Economics from Pontificia Universidad Catolica de Chile
Most Recent Employer and Job Title: Associate at SummaPartners, a boutique firm founded by experienced consultants to join the worlds of management consulting and private equity.
What word best describes the Tuck MBA students and alumni you’ve met so far and why? Seekers. Tuck students are open to change and learning; students come here to question themselves and be questioned, to have an authentic transformational experience. I am also impressed by how humble successful Tuck alumni are, transmitting that same will to keep learning and challenging themselves.
Aside from your classmates, what was the key part of Dartmouth Tuck’s MBA programming that led you to choose this business school and why was it so important to you? I wanted a small school, a place where I would get to know my classmates and professors and truly connect. Before enrolling, every Tuckie I spoke with would always reflect on how transformative their two years at Tuck were and how Hanover was a special place to make human connections and life decisions. That’s what I was looking for in my MBA experience.
What course, club or activity excites you the most at Dartmouth Tuck? Everything is exciting, but I don’t think TuckGO can be topped. The idea of traveling the world with a group of classmates and a professor to learn about the most relevant topics in our global economy is an experience I am sure no one could forget.
What excites you the most about coming to live in Hanover? What is the one activity you can’t wait to do? It is living in a place far from the noise and rhythm of the city. I’ve always lived in big cities, and I love it, but doing my MBA in a small place where I could focus on the experience resonated with me.
The one activity I can’t wait to do is skiing. I need to go to the Dartmouth Skiway at least once to say I did it!
Describe your biggest accomplishment in your career so far: My first project as an associate was to reduce a company’s size, given the risk profile of some of its operations. It was the biggest company in its industry in the region, so the project’s impact was huge. It was a multi-variable problem, where we had to work on several scenarios and consider multiple effects in a short time. We built a cohesive team with the client and finally came up with a well-thought-out solution. We accompanied the company through implementation and managed to reduce over 40% of accidents in a year, positively impacting the company’s results. In the beginning, we truly believed it wasn’t possible, and I will never forget an experienced partner telling me this was the most fun and challenging project he had worked on.
How did COVID-19 change your perspective on your career and your life in general? I think working on challenging projects without having day-to-day team interactions had an impact on me. I realized a huge part of why I enjoyed my job so much was the great team I was surrounded by and how those small breaks and jokes throughout the day truly made a difference. It changed my career because I now know how important it is for me to work with a cohesive team with whom I can have fun and learn from. It’s more about the people than the role, and that was a great life lesson.
What led you to pursue an MBA at this point and what do you hope to do after graduation? After four years working alongside great leaders and mentors, I was more aware than ever of the dreams I had as a future leader and the gaps I needed to close to become that leader. After my MBA, I hope to join the strategic team of a large tech firm. I enjoyed consulting in tech and would like to keep growing on strategic roles in that industry because I genuinely believe those companies are changing the world.
What other MBA programs did you apply to? Darden
What advice would you give to help potential applicants gain admission into Dartmouth Tuck’s MBA program? Talk with Tuckies! They are the most open community I’ve known, and you will never meet anybody more willing to talk about Tuck, Dartmouth, and Hanover than alumni: they jump at the opportunity and truly enjoy it. So go through Linkedin. Find a Tuckie you can relate to because of your experience, what you want to do after your MBA, place of birth, or whatever reason and write; I always got an answer!
DON’T MISS: MEET DARTMOUTH TUCK’S MBA CLASS OF 2023
The post Meet the MBA Class of 2023: Francisca Carpentier, Dartmouth College (Tuck) appeared first on Poets&Quants.
Source Here: poetsandquants.com
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