Stanford Graduate School of Business has achieved yet another new record for its incoming class of MBAs this fall: A 740 average GMAT. That score is 11 points higher than Stanford’s average just five years ago and three points more than it was in the previous year.
Yet far more revealing than a simple GMAT score is the percentile ranking of one’s score. This number indicates the percent of test takers who you outperformed. A ranking of 97%–which is where the average Stanford score is at this year–means that only 3% of test takers performed as well or better than you–and 97% didn’t do as well.
That’s lofty company to be in. Fewer than 7,500 test takers out of a total of roughly 190,200 in 2016 scored at that level or higher—and not all of them would have used the GMAT to apply to a two-year MBA program. Many applied to specialty master’s programs, part-time, executive and online MBA programs. In fact, only 43% of test takers overall send their GMAT scores to full-time MBA programs.
THE OVERALL AVERAGE GMAT SCORE FOR THE GMAT IS ONLY 552
While total GMAT scores range from a low of 200 to a high of 800, GMAC says that two-thirds of test takers score between 400 and 600. The average for all test takers is currently 552, though GMAT scores are only reported in increments of 10. More important than the overall average, however, is the average for applicants to the highly ranked global schools.
In an unusual disclosure, GMAC shed some fascinating light on how high the scores are in the applicant pool for the top schools. GMAC took the scores for eight countries: the U.S., Canada, France, Germany, United Kingdom, China, India, and South Korea. Then, GMAC examined the scores sent to what it calls “global programs ranked highly around the world,” a subset of just 10 undisclosed schools (with five in the U.S., one in Canada, two in Europe, and two in Asia). It found that the average GMAT score was 651 — a score in the 76th percentile and an average that is 100 points higher than the overall average for the test. Only two years earlier, the average GMAT score for the group applying to the top 10 global programs was 22 points lower, at 629.
In the past two years, moreover, there’s been a marked flight to quality. Globally ranked programs are attracting more scores from test takers scoring 690 or higher — 13,262 in 2016 versus 12,022 in 2014 — despite there being fewer exams with this score in GMAC’s dataset. In 2016, GMAC revealed that candidates scoring 660 or higher accounted for 57% of the scores received by the highly ranked global schools. GMAC says that roughly one in six GMAT scores, about 19%, were cancelled in 2016, with the average score being cancelled at 603.
Stanford's Graduate School of Business has achieved a new record average GMAT score for its incoming class of MBA students this year: an unprecedented 740. That score means that the average Stanford MBA scored better than 97% of the people who took the GMAT.
AVERAGE SCORE *
GMAT PERCENTILE RANKING
Even in the second group of the top 25 U.S. business schools, the average percentile GMAT scores are remarkably high. For most of these MBA programs, successful candidates are scoring better than 75% of all the GMAT test takers on average.
AVERAGE SCORE *
GMAT PERCENTILE RANKING
When reviewing your MBA application, you want the Admissions Committee to think, Ah, they really understand the culture of our school.’
What does it take to customize your application to a specific MBA program? It’s tempting to want to plug your winning story into play for each program on your list once you’ve done the hard work of reflecting on where you’ve been, where you want to go and how business school is going to get you there. If it’s good enough for Columbia, it’ll be equally compelling for NYU Stern or Fuqua, right? Now that you’ve got your story straight, can’t you just cut and paste?
No, alas, it doesn’t work that way.
During my eight years in recruitment and admissions at London Business School, I read too many applications from aspiring MBAs who had done just that – either the essay was a clear cut-and-paste from another application, or they were not really answering the question posed. Even worse, many of my Fortuna Admissions colleagues have reviewed applications of careless candidates who hadn’t mastered the find and replace feature, professing their love of Stanford GSB to the admissions committee of Chicago Booth. That’s embarrassing.
What’s essential in crafting each application is making each school believe that they’re your first choice. Of course, programs know that you’re applying to other programs – they expect that and it’s a sensible thing to do. But to win their acceptance, show them the love. This means going the extra mile to prove you understand a school’s unique culture and values, and that you’ve given considered thought both to how you’ll contribute to their community what you hope to gain from it.
So make the effort now to tailor each application to your target programs. The last thing you want to do is undermine your incredibly hard work by submitting a generic MBA application.
Below are top eight tips on how to customize your MBA application:
1: DO YOUR RESEARCH.
Research each school to learn what makes them unique. Go beyond what’s offered on the website and probe for the heart of their differentiators and values . This level of awareness and detail can and should come across in your application. Cite specifics that are relevant to your career vision and goals – specializations, electives, clubs and the myriad of opportunities that will be available to you. As there are many different elements you can speak to for every school, ensure you choose ones that are genuinely connected to your future, and to what you personally hope to gain from the experience.
2: MAKE MEANINGFUL CONNECTIONS.
Work to build relationships within the community at each of your target programs. Explore your current network to reach out to alumni and students, or query the admissions team about being put in touch with someone with a similar background. Ask intelligent questions that help you learn what the school cares about and what it’s looking for in new members of its community. It really shows when someone has spoken with alumni and students, and you can even drop names in your application.
3: MAKE THE EFFORT TO VISIT (IF AT ALL POSSIBLE).
Nothing will give you a stronger sense of a school’s personality than a campus visit. It’s also where you can have more opportunistic conversations and interactions with students, faculty and admissions staff. Sit in on a class, attend an information session – seize any opportunity to get a sense of the overall vibe.
Admissions teams do understand that it’s not always possible to visit, especially if you’re an international student. In this case, however, it would become even more important to make those student and alumni connections, and you should also look for ways to have a virtual experience through online presentations, live chats or webinars. Be sure to also follow all their social media activities.
4: REFERENCE SPECIFIC INSIGHTS, CONVERSATIONS AND EVENTS.
In your application, take the opportunity to mention you had great conversations with ‘this student from this year,’ discussing, for example, all the excellent club opportunities, and what this led to in the context of your aspirations and interests. While every school has its own process, and each application is different, there are always savvy ways to demonstrate how much research you’ve done. Not just by writing your essays with detail and depth, but literally mentioning, ‘I’ve met this member of staff,’ or ‘I’ve been to that or this event.’ Admissions committees will take note of the volume of effort you’ve put in.
It’s effective from the staff perspective, too; seeing your name and thinking, ‘ah yes, I recall that person, I met her in San Francisco at an MBA event,’ helps connect the dots. I always found it gratifying to learn that someone enjoyed our conversation and found it useful enough to reference in their application.
5: BUILD SMART CONNECTIONS AND seek WAYS TO CONTRIBUTE EARLY.
If you’ve got your overarching vision and career goals figured out, and you know how this school is going to help you take the next step in your career, you’re poised to start making connections that are going to support the journey. If you’re an aspiring entrepreneur, for example, you’ll want to reach out to leadership in the entrepreneurship club. Perhaps you discover the club’s president is running an event, and help them make some contacts. Even before you’ve joined the program, it’s not too early to start getting involved and demonstrate that you’re really passionate about an issue, and that you’re the sort of person who will positively contribute.
6: Get to know FACULTY members.
It’s wise to acquaint yourself with the faculty for a deeper dive into the areas of expertise and specialization your business schools have to offer. Especially at top schools, many professors are making headlines within their field of study and publishing ground-breaking research. Try to follow the research of an individual faculty member, opinions they’re advancing on the issues and/or a book they’ve recently published. It’s yet another way to go beyond those online course lists.
7: SOLICIT feedback FROM TRUSTED CONNECTIONS.
If you’ve cultivated trusted alumni or student connections, ask if they’d be willing to review your essays and offer you some frank feedback. Their first-hand understanding of the school’s culture and what makes it unique will offer an invaluable perspective. Invite them to be candid with you, so they’re emboldened to offer helpful critiques, such as, ‘no, this essay isn’t coming across as truly Berkeley,’ (for example).
8: BRIEF YOUR RECOMMENDERS.
Your recommenders are a key element of your strategic positioning. Meet with your recommenders and talk to them about your vision, your goals and how this program in particular is going to help you take the next leap in your career. This important groundwork will allow your recommenders to include specific snippets that might resonate with your school in their recommendation letter.
At LBS, like the other top schools, we had no shortage of strong GMAT scores, high GPAs, and qualified profiles with fast-track professional records. This means your ability to convey your genuine and ardent commitment to each target school is part of what will help you stand out. In reviewing your MBA application, you want the admissions committee member to think, ‘wow, this applicant really gets us – let’s invite them for interview.’
Amy Hugo is a Fortuna Expert Coach and former manager of admissions and recruitment at London Business School.