By: Dana Coggio
Date: 22nd June 2021
Why a 700 GMAT score is such a good score
GMAT scores range from between 200-800, with ⅔ of scores falling between 400-600. The average GMAT score is around 560. That being said, as of 2019, scoring a 700 on the GMAT means you will be ranked within the 88th percentile. Keep in mind, percentile rankings can change yearly, so be sure to double check the percentile rankings of the year you are planning on taking the GMAT. Achieving such a high score can help plump up your application and puts you as a top contender during many application processes.
Because the GMAT score measures your ability to problem solve in academic and professional settings, a high score of 700 will show prospective admissions or hiring teams that you are a qualified candidate. In addition, achieving a high score can help make-up for any weaknesses that may appear elsewhere in your application. If you are striving to get into a top-tier B-school, then a 700+ score is a must. Top-tier business schools are flooded with MBA applications each year, and admissions teams often organize initial applicants based on GMAT scores before they even address other parts of your application.
When beginning to study for the GMAT, be sure to look up the average scores of the schools you wish to apply for. This will give you a good idea of where you need to put your efforts when studying for the exam. Your 700 GMAT score will also follow you as you leave the academic world and transfer into the professional realm. Your prospective employers may take a look at your GMAT score. Having a strong score will create a strong application.
Why a 700+ score is difficult to achieve (and how you can succeed in getting one!)
Your ability to do well on the GMAT comes down to you as an individual and test taker. Some people may do well with the format of the GMAT, while others struggle with its structure. That being said, achieving a 700+ score on the GMAT requires extensive studying regardless of your skill level. If you are a student who performs well on standardized tests, then the GMAT structure is something you may be quite comfortable with. For those who struggle with such standardized tests (don’t worry, you are not alone!) achieving a high score means more than just learning how to answer multiple choice questions. You will have to crack the code of how standardized tests operate and the tricks needed to ace the format.
Cracking the GMAT code is not always something you can do alone. Often, future MBA students reach out to private tutors to help them ace the exam. Apex GMAT is one such private tutoring firm which specializes in helping high achievers reach a 700+ score on the GMAT. A proper private tutor will help you not just learn how to answer GMAT questions, but rather they should play to your strengths and weaknesses and help you grasp the ins and outs of the exam itself. Because of the GMAT’s extensive structure, working with a private tutor is always an investment well made. If you are interested in learning more about what working with a private tutor is like, check out this article: How can Private Tutoring help you score a 700+ on the GMAT? If you would like to have a complimentary consultation call with a private GMAT tutor, check out this link HERE.
How a 700 on the GMAT helps your MBA Application
Whether it is Harvard Business school or INSEAD, your application to a top-tier business school almost requires a GMAT score that exceeds a 700. According to the Financial Times Global MBA Rankings, there isn’t a single US top 25 Business school that has an average GMAT score acceptance rate of under 700. Even European Business schools have exceptionally high GMAT score acceptance rates, although the GMAT averages of US business schools tend to be higher.
In addition to the other aspects of your MBA application…
- Admissions Interview
- Undergraduate GPA
- Essay Questions
…your Total GMAT Score and your GMAT Quant Score plays a large role in your application. According to Poets and Quant, your MBA application is broken down in the following ways:
Other includes: International Experience, Languages, Industry of Employer and Undergraduate Major
This breakdown of your application shows that MBA admissions teams look largely at your GMAT scores. Investing in achieving a high GMAT score means you are investing in your ability to be a competitive prospective MBA applicant.
How scoring a 700 on the GMAT can help during your job search
While you begin preparing to apply to MBA programs, your future prospects in the professional world may be the last thing on your mind. Or, perhaps, you have a goal to work for a top marketing or investment banking firm and you’re intent on attending a top B-school in order to be an outstanding candidate. Either way, investing early on in achieving a 700+ GMAT score means you will be set up to enter the professional world. Top-tier marketing or investment banking firms are often flooded with applicants who desire to work with them. Because the GMAT is an exam that all MBA applicants must take, firms can use this data as a baseline for scoring and ranking their potential employees. While a 700+ won’t land you your dream job, it can set you apart from the competition who might be vying for the same position.
Not only does the GMAT score help you get hired, your score can also give you a higher starting salary! Some research shows that individuals who score a 700 on the GMAT are expected to receive a starting salary of over $150,000 after graduation from your MBA programs. That being said, even after getting into an MBA program, it may be a good idea to retake the GMAT if you are hoping to earn a higher salary upon graduation.
A 700 GMAT score is not the be-all-and-end-all. Here are some other useful tips for strengthening your application!
Achieving a 700+ GMAT score is a big deal. But banking everything on your GMAT score to get into your dream school is not the smartest decision. Here are some other things to keep in mind if your goal is to receive an admissions spot at a top-tier B-school..
What Admissions Committees look for in MBA applicants:
- Figure out if you are a good fit for the business school you’re applying to and create your application around their expectations. Make sure to do your research about what the school offers and how you could be a good fit!
- Find opportunities to expand on your leadership skills. Admissions committees hope to invest in future global leaders, and so sifting through hundreds of potential applicants means they are looking out for those candidates who have strong leadership experience and can go out into the world and utilize their MBA to make a global impact.
- Know where you want to take your career. Having a strong path forward will show admissions committees that their investment in you will have a clear positive outcome for you as a future business leader and for their school.