The New GRE - GMAT Killer?
At one point in time, the Graduate Management Admissions Test (GMAT) was the de facto exam that students took to get into business school. But in 2006, the creators of the GMAT, the Graduate Management Admissions Council (GMAC), decided to sever ties with the Educational Testing Service (ETS), who up until that point had administered the exam. This move, which ended the non-compete clause that the GMAC held over the ETS, allowed the ETS to challenge the stranglehold that the GMAC had on business school testing. Since 2006, the ETS has been campaigning schools to accept the GRE as an alternative to the GMAT. According to a press release by the ETS, “About 450 MBA programs worldwide now accept the GRE test, including 45 percent of the U.S. News & World Report’s top 100 U.S. programs and seven of the top 10 global MBA programs according to The Financial Times.” These schools include some of the top-ranked business schools in the world, such as Harvard, Stanford, Whar...