Achieving a 700 GMAT Score can be a milestone for many aspirants, but is it really enough? Let’s explore:
- Understanding the GMAT Scoring System: Discover the different sections of the GMAT and learn how the total score is calculated.
- Good vs Bad GMAT Score: Learn what makes a “good” GMAT score and whether a score of 700 can be considered competitive.
- Impact on MBA Admissions: Understand how a 700 GMAT score can affect your chances of getting into an MBA program.
Read on to make sense of your 700 GMAT Score and plan your academic journey accordingly.
Understanding the GMAT Scoring System
The Graduate Management Admission Test, commonly known as the GMAT, is a standardized exam designed to assess certain analytical, writing, quantitative, verbal, and reading skills in written English. These skills are used not only for admission into a graduate management program, but also extensively during the course.
The GMAT consists of four sections: Analytical Writing Assessment, Integrated Reasoning, Quantitative, and Verbal. Each section contributes to the overall score in a different way:
- Analytical Writing Assessment (AWA): This section is scored on a scale of 0 to 6, in increments of 0.5. Your AWA score does not contribute to the cumulative 200-800 GMAT score; it is separate.
- Integrated Reasoning (IR): Similarly, this section is scored separately on a scale of 1 to 8, in increments of 1.
- Quantitative Section and Verbal Section: Both of these parts contribute to the cumulative score, ranging from 200 to 800.
Decoding the 700 GMAT Score
A score of 700 on the GMAT falls into the high-performance category, considering the maximum achievable score is 800. Making it to 700 puts you within the top 13% of all test takers worldwide, as it corresponds to an 87th percentile score. This percentile rank means that 87 out of 100 test takers score less than 700.
However, it’s worth stressing that different universities and business schools have varying cut-offs and average GMAT scores, based on the competitiveness of the program.
Is 700 a Good GMAT Score?
By and large, a score of 700 on the GMAT can be classified as a ‘good’ score. This score suggests a high level of preparation and aptitude for the skills measured by the GMAT—a fact acknowledged by most business schools worldwide.
GMAT Score Requirements for Top B-Schools
While a 700 GMAT score is objectively a good score, it may or may not be the best score for you, depending on a variety of factors, primarily the ‘average GMAT score’ of your target B-schools. For instance, most of the top-20 business schools in the U.S. have an average GMAT score around or above 700.
- Stanford Graduate School of Business: The average GMAT score is around 733.
- Harvard Business School: The median GMAT score is 730.
- University of Pennsylvania – Wharton School: The median GMAT score falls around 730.
Therefore, while a 700 GMAT score is commendable and competitive, it may fall slightly short for very high-tier business schools. Thus, the definition of a ‘good’ GMAT score may vary based on the schools you are targeting.
Is 700 a Bad GMAT Score?
The term ‘bad’ is relative when it comes to GMAT scores. While a 700 GMAT score would be considered exceptional for a variety of institutions, some highly competitive programs or schools may have an average score higher than 700, thus making a 700 seem comparatively ‘low.’
High Competitive Business Programs
For instance, top-ranked schools like Stanford Graduate School of Business or the Wharton School at the University of Pennsylvania, boast average admitted students’ GMAT scores of 738 and 740, respectively. Therefore, in these contexts, a 700 GMAT score would be below average.
Regardless, keep in mind that while GMAT scores play a crucial role in the admissions process, they are not the only deciding factor. Other elements such as professional experience, letters of recommendation, personal statements, and overall application quality are also heavily considered.
How Hard Is It to Get a 700 GMAT Score?
Scoring 700 or above on the GMAT undoubtedly requires a significant amount of preparation, along with a strong understanding of the test format and measured skills. As a prospective student, you can expect to invest several months of dedicated studying to hit this target.
The Journey From Average to 700
In 2020, the average GMAT score was around 570. Therefore, achieving a score of 700 indicates that you have performed significantly better than the majority of the testing population. This noteworthy leap from the average reveals the degree of challenge involved in securing a 700. With consistent effort, focus and definitive strategies, achieving a 700 becomes a realistic goal.
Overall Difficulty Level
Getting a score of 700 or above ranks you in the top 13% of test takers worldwide, which means only around 13 out of 100 GMAT examinees achieve this score. This statistic highlights the competitive and challenging nature of securing a 700. Making it to this score demands a solid study plan, precise understanding of the content areas on the GMAT, mastery of test-taking strategies, and disciplined preparation.
Despite being demanding, making it to the 700 club is doable and an accomplishment in its own right, paving the way to numerous potential opportunities for your future business career. Remember, scoring above 700 doesn’t guarantee admission into your dream B-school, but it undoubtedly strengthens your application.
700 GMAT Score to GRE
The GMAT and the GRE are two distinct standardized tests that serve as admissions requirements for many graduate programs, most prominently business schools. While the GMAT has traditionally been the preferred choice, a growing number of B-schools now accept GRE scores too. This decision has emerged due to the increasing diversity and interdisciplinarity of business programs and the expanding range of applicants’ backgrounds.
Conversion Between GMAT and GRE
- The Conversion Formula: ETS, the organization responsible for the GRE exam, provides an official tool for converting GRE scores to GMAT scores. The conversion formula is slightly complex and can seem confusing at first glance. However, inputting your scores into this formula can provide an estimate of what you would score on the GMAT given your performance on the GRE.
- Approximate Equivalents: It’s essential to remember that conversions are estimates, and they may not perfectly reflect your capabilities or potential performance on the GMAT. For instance, a 700 on the GMAT approximately translates to a combined score of 326 (out of 340) on the GRE.
How B-schools View GMAT vs. GRE
Although more and more B-schools accept both GMAT and GRE scores, some still show a slight preference for the GMAT for its business-focused aptitude assessment. However, ultimately, your choice between the two tests should be dictated by where you believe you can perform the best.
Should You Report or Cancel a 700 GMAT Score?
The decision to report or cancel a 700 GMAT score will depend largely on your target B-schools and professional goals. A 700 score is above average and is likely to be competitive in many graduate programs.
Factors to Consider
- School’s Average GMAT Score: One of the most critical factors is the average GMAT score of the students admitted to your target school. If your score is considerably lower than this average, it might be worth considering a retake.
- Admission Deadlines: Another essential factor to consider is the upcoming admission deadlines. If they are too close, cancelling might not be the best option, considering the time needed to retake the test and get a new score report.
- Previous Attempts: GMAC allows you to retake the GMAT up to five times in a 12-month period. If you’ve already taken the test multiple times, cancelling might not be a worthwhile option.
- Overall Application Strength: Although GMAT scores are a significant part of the application, they are not the only consideration. A strong application might overcome a GMAT score that’s a bit lower than the school’s average.
If You Choose to Cancel
If you decide to cancel, GMAC offers the option to reinstate your score within 4 years and 11 months of the exam date, for a fee.
700 GMAT Score B-schools and Scholarships
Different B-schools have different average GMAT scores, and while plenty have averages below 700, a 700 GMAT score would place you as a competitive applicant at many highly respected schools. Apart from the prestige of gaining admission, scoring 700 or above might also make you eligible for certain scholarships.
Examples of Business Schools
- Duke Fuqua School of Business: With an average GMAT Score of 710 for its 2023 class, a 700 GMAT score could be reasonably competitive here.
- Dartmouth’s Tuck School: The average GMAT score for this esteemed institution generally hovers around 720, making a 700 score potentially competitive.
Scholarships
A GMAT score of 700 or above might also open doors to various scholarships. Some business schools offer merit-based scholarships that take into account high GMAT scores as part of their selection criteria. It’s important to research each school’s scholarship choices and understand their specific requirements. Some scholarships that may consider a 700 GMAT score as competitive include:
- Stanford Reliance Dhirubhai Fellowship: This scholarship provided by Stanford Graduate School of Business covers tuition and associated fees for up to five students from India each year.
- Forte Fellows Program: This program offers scholarships to outstanding female business school students.
Tips to Improve Your 700 GMAT Score
Busting the 700 barriers in the GMAT is indeed an achievement, but those aiming for the top B-schools might want to boost their score even further. Here are some tips to improve upon a score of 700.
Setting a Higher Target
Fixing a target of 730 or 750 can provide the extra motivation needed to revisit preparation plans and work on weak areas.
Detailed Analysis of Your Score
Understand your strength and weaknesses through the enhanced score report. Look at the time spent per question and identify both the type and difficulty level of the questions you got wrong.
Strategy Adjustment
Consider strategies not just for the type of questions, but also for time management.
Professional Guidance
Consider hiring a tutor or taking a prep course specifically focused on high-level GMAT instruction.
GMAT Scores 200 to 800
| 200 | 210 | 220 | 230 | 240 |
| 250 | 260 | 270 | 280 | 290 |
| 300 | 310 | 320 | 330 | 340 |
| 350 | 360 | 370 | 380 | 390 |
| 400 | 410 | 420 | 430 | 440 |
| 450 | 460 | 470 | 480 | 490 |
| 500 | 510 | 520 | 530 | 540 |
| 550 | 560 | 570 | 580 | 590 |
| 600 | 610 | 620 | 630 | 640 |
| 650 | 660 | 670 | 680 | 690 |
| 700 | 710 | 720 | 730 | 740 |
| 750 | 760 | 770 | 780 | 790 |
| 800 |
Conclusion: Embracing Your GMAT Score & Planning Your Law School Journey
At the end of the day, remember that a GMAT score is only one component of the complex and multidimensional MBA application process. Personal essays, letters of recommendation, undergraduate GPA, professional experience, and your interview performance all contribute substantially to your application.
Aim to strike a balance that presents you as a well-rounded candidate. While a 700 GMAT score gets you closer to the finish line, it’s the holistic journey enriched with diverse experiences that will help you cross it. Don’t let your GMAT score, be it 700 or otherwise, hinder your quest for high-quality business education. After all, it’s not just about what you bring to a B-school; it’s also about who you are and how you enhance the learning environment.
Embrace your GMAT score as a stepping stone, not a final destination, and continue charting the course for your academic journey!