Breaking News

How to decide if you should take the GMAT or GRE for business school so you can save time and money

GettyImages sb10065231bz 001

  • The GMAT and GRE are being proctored online because of the coronavirus pandemic. 
  • But students still have to decide which test is right for their business school application. 
  • Stacey Koprince, a GMAT and GRE instructor, offered advice for applicants facing this dilemma. Koprince told Business Insider applicants should consider skipping the GMAT if they're seeking a dual-degree program where one of the programs only accepts the GRE. 
  • Here are tips for knowing whether or not these tests are the right option for you.
  • Click here for more BI Prime content.

Business school admissions are extremely competitive, with schools looking for the right mix of experience, undergraduate grades, and, of course, GMAT or GRE test scores.

GMAT and GRE test scores are important to any business school application, and recently, because of the coronavirus pandemic, the testing process has gone digital. This online version of the tests mimic in-person testing, with a human proctor overseeing. But students still have a decide which test makes the most sense for their application. 

Depending on whether you're taking a general or subject exam, the GRE test can cost between $150 to $255 per test. In February, the GMAT increased exam fees from $250 to $275. The tests are more than three hours long — and the preparation is equally grueling. Applicants usually take up to three months or 120 hours to study

To figure out whether business school applicants should take the GMAT or GRE, Business Insider talked to Stacey Koprince, a GMAT and GRE instructor who got a perfect GRE score, a near perfect 780 on the GMAT, and is now content and curriculum lead at Manhattan Prep.

"There are two main circumstances in which someone is not going to take the GMAT," Koprince told Business Insider.

People should consider skipping the GMAT if they're applying for a dual-degree program where one of the programs only accepts the GRE, she said. 

Those who worry their scores on the GMAT aren't high enough to get into a particular school should also consider not submitting those scores, Koprince explained.

Koprince said that in the case of a student scoring similarly on the GRE and GMAT, she would advise the student to submit their GMAT scores, in case an admissions officer has an unconscious bias for the GMAT. 

People who plan on going into banking or consulting after business school should absolutely take the GMAT — even if their business school accepts both scores, Koprince said.

Many banking and consulting firms require GMAT scores on job applications, and it's best to avoid the added stress of taking the GMAT in the midst of business school just to land a job or internship.

It's also important to understand whether a particular school prefers one exam or another, even if they accept both the GRE and GMAT.

Koprince explained that some schools — like Haas — prefer the GMAT. Others — like Harvard and Darden — view the two exams equally.

The last step is for people to understand their own individual strengths and weaknesses. People will generally perform better on the GRE if they're stronger on vocabulary, geometry, data interpretations, and multi-answer problems. Alternately, they'll perform better on the GMAT if they tend to be stronger on grammar, story problems, and mathematical theory and logic.

Abby Jackson contributed to an earlier version of this piece

SEE ALSO: What you need to know to prepare for and excel at the online GRE, according to testing experts and instructors

Join the conversation about this story »

NOW WATCH: Obama has a plan to cut down on standardized testing in public schools

* This article was originally published herePress Release Distribution

No comments