GMAC Questions the GRE Comparison Tool

After ETS has made some significant inroads into GMAT market share with its own GRE over the past year, GMAC is now hitting back with an article on its site that debunks ETS's GRE Comparison Tool for Business Schools.

"This GRE comparison tool is not as precise at it may appear, and using it is not as straightforward as presented. The comparison tool is about averages. Admission decisions are about individuals," argues GMAC in the article on its site.

GMAC's argument against the tool was primarily a statistical one:

"As a specific example, for a GRE verbal score of 660 and quantitative score of 670, the tool would predict a GMAT Total score of 650. In this case, 1 in 4 people with this predicted score would actually earn 600 or below if they were to take the GMAT exam. In addition to prediction error, there is also measurement error in both the verbal and quantitative GRE scores, so the chance that this individual would actually score something close to 650 is extremely thin."

Going further, GMAC then raises the question of whether comparing students with actual GMAT scores to those with predicted scores is fair: "To use predicted GMAT scores along with actual ones unfairly penalizes both sets of test takers, because applicants with valid GMAT scores could be displaced by applicants with predicted scores that are much too high."

Interestingly, ETS launched the GRE Comparison Tool GRE® Comparison Tool at www.ets.org/gre/comparison about a year ago, but now that web address redirects to a promotion encouraging business schools to start accepting the GRE. Maybe GMAC was able to apply enough pressure to get ETS to remove the tool? Maybe ETS decided it needs to go back to the drawing board?

While we expect that the GRE is here to stay in the graduate management education admissions business, we agree with GMAC that the GMAT is still the most proven measure of the skills an MBA applicant needs to succeed in the classroom. If you're thinking about grad degrees and general and are only somewhat interested in earning an MBA, then perhaps the GRE is the better place to start. If you're sure that a top-tier MBA is what you want, however, the GMAT is your best bet.

And, if you're ready to dig into the GMAT, start with the GMAT preparation tools and services available at Veritas Prep.

MBA Programs That Accept the GRE

Since more and more top business schools have started to accept the GRE in addition to the GMAT, we have compiled a list of the top business schools that accept the GRE General Test. This list is not meant to be exhaustive (ETS's exhaustive list is here). Rather, these are the top business schools that have taken the plunge and started accepting the GRE.

Top Business Schools That Accept the GRE:

• Harvard Business School


• MIT Sloan School of Management


• NYU Stern School of Business


• Stanford Graduate School of Business


• University of Virginia (Darden)


• Yale School of Management

Note that Wharton will accept the GRE starting in Fall 2010.

To stay on top of this and other trends in MBA admissions, be sure to follow MBA Game Plan on Twitter!

HBS to Accept the GRE Starting This Fall

Yesterday Harvard Business School joined Stanford GSB and MIT Sloan when it announced that its general two-year MBA program will starting accepting the GRE from applicants this fall. This move comes after the HBS 2+2 Program announced in March that it would accept both the GRE and the GMAT this year.

In an HBS press release put out this morning, director of admissions Dee Leopold said, "We are pleased to widen our requirements to give all MBA candidates the option of submitting results from either the GRE or GMAT exams. Since many HBS applicants are also considering graduate programs besides the MBA, there is now no need for them to take the GMAT if they have already taken the GRE. We believe that both the GMAT and the GRE meet our expectations of what a standardized test can tell us about a candidate's ability to thrive in our MBA Program."

This is consistent with Harvard Business School's push to find more business leaders outside of the traditional MBA program feeders, such as business-oriented college programs, investment banks, and consulting firms. It also marks another win for ETS in its push to position the GRE as a credible competitor to the GMAT in assessing MBA applicants' abilities. With a handful of top-ten business schools already accepting the GRE, we expect more schools will soon follow suit.

With ETS making steady progress in winning over the top business schools, it's no wonder that the Graduate Management Admission Council has started to make noise about producing a next-generation GMAT exam, due to reach the market by 2013.

New GMAT Coming in 2013

Perhaps motivated by ETS's push into the MBA admissions market with the GRE, the Graduate Management Admission Council (GMAC) recently announced that a new GMAT exam will launch in 2013. Dubbed the "Next Generation GMAT," the new exam will be designed to overcome the business school community's largest objections to the current exam.

One of those criticisms has been that the current GMAT has a strong bias in favor of Western culture, in part because it is only offered in English. While this does create some built-in unnatural advantages and disadvantages based on a student's native language, one strength of this approach is that it makes it easier to compare GMAT scores of students from anywhere in the world. If, with the new exam, Student A scores a 700 in English and Student B scores a 700 in French, will an MBA admissions officer really be able to treat these two scores as the same? It will be interesting to see how GMAC tackles problems such as these.

The GMAT has also recently been plagued other problems, such as last year's Scoretop scandal and issues with professional test takers that prompted GMAC to introduce pal-scanning technology to its GMAT test centers. While it's not clear how a new exam by itself will overcome these issues, one solution could end up involving more face-to-face evaluation (which would be time-consuming and expensive).

GMAC has promised to include business schools in its discussions for what the next generation GMAT should look like. As the world's fastest-growing GMAT prep and admissions consulting provider, we think we also have something to add to the discussion. How about you? What do you think would make the GMAT a fairer and more effective measurement tool for business school applicants?

Info for Disabled GMAT Test Takers

As the world's fastest-growing GMAT prep company, Veritas Prep often receives questions from test takers who want to know how they can take the GMAT with a disability. The Graduate Management Admission Council (GMAC), the organization that runs the GMAT, is committed to providing access to the exam to test takers with a variety of disabilities. Fortunately, GMAC has a page on its web site that contains most of what you need to know in case you have a disability and are considering taking the GMAT.

GMAC's site provides a general overview of how to register for the exam and request specific accomodations if you have a disability. Also, be sure to read this document: Supplement for Test Takers with Disabilities. GMAC will accomodate you if any of these disabilities apply to you:

• Learning Disabilities


• Attention Deficit/Hyperactivity Disorder (ADHD)


• Physical or Systemic Disabilities


• Psychiatric Disabilities


• Deafness or Hard-of-Hearing Disabilities


• Blindness or Low-Vision Disabilities

If you fall into one of the above camps, GMAC and Pearson VUE (the company that runs the test centers where you will take the GMAT) can make a variety of accommodations. including giving you more time on the exam, extended rest breaks during the exam, a reader who can read test questions aloud to you, or enlarged fonts on the computer screen. Overall, GMAC wants the GMAT to measure your true ability, and does not want it to be clouded by a disability that you may have.

If you are preparing for the GMAT now, Veritas Prep offers a variety of flexible GMAT tutoring options in dozens of cities around the world.

GMAT Prep Courses Start This Week

If you're now in the process of preparing for the GMAT, this is the perfect time to enroll in a GMAT prep course. This week Veritas Prep has GMAT courses starting in dozens of cities around the world.

Veritas Prep offers multiple options to suit a variety of learning styles:

• Full Course
  The Veritas Prep Full Course is 42 hours long over seven weeks -- nearly twice the length of those of our largest competitor. Armed with over 1,400 pages of materials, students learn a deconstructive approach to confidently attack the GMAT. Students then apply these techniques to actual GMAT questions on 15 computer-adaptive practice tests -- the most in the industry -- and can also access an online recorded version of the class for six months. The Full Course is ideal for anyone looking for the most complete GMAT prep available.


• Intensive Course
  The Veritas Prep Intensive Course covers the exact same 42 hour syllabus as the Full Course, but runs on a compressed schedule. It meets for seven straight days in some of our more interesting locations, including New York, Honolulu, Napa Valley, London, and Dubai. Students receive the same course materials and GMAT practice tests that come with the Full Course. We designed the Intensive Course for those applicants who prefer a compressed schedule, and for those have a hard time clearing their weeknights or weekends.


• Weekend Course
  We also offer a more concentrated GMAT course that meets over two weekends. The Veritas Prep Weekend Course addresses all of the same topics as the Full Course, devoting 36 hours to those topics over two weekends. Students spend less time on covering homework problems in class than in the Full Course, but everything else is identical. The Weekend Course is best suited for those on an accelerated timeline.


• Online GMAT Courses
  Veritas Prep offers two online GMAT course options: a live online course and a pre-recorded version. Virtual Veritas Prep classes are conducted live at specifically scheduled times, via an online interface that allows students to interact directly with their instructor. Veritas Prep on Demand gives students online access to the entire Veritas Prep GMAT course, pre-recorded by a top member of our faculty, and is accessible anytime, anywhere. Our online courses are ideal for anyone who wants more flexibility, or who does not live near any of the 70+ locations where Veritas Prep offers its in-person classes.

Get started now to find a GMAT course near you!

Try Sample AWA Essays and Get Paid

For a limited time, the Graduate Management Admission Council will pay you $30 to try out new sample Analytical Writing Assessment (AWA) questions.

According to an announcement to registered users of MBA.com:

Participation requires approximately 60 minutes during which you will write two essays online. You may complete these two essays when you register online or at any time within seven (7) days of registration. You can participate from any computer with Internet access and a Web browser comparable to Microsoft’s Internet Explorer. Participation is on a first-come, first-served basis and is limited to U.S. citizens.

You can register to take the sample AWA exam here. The test makers are only looking for a limited number of participants, so registrations may close quickly!

If you want more practice with sample GMAT questions, try our free sample GMAT exam.

In the Media: The GMAT vs. GRE Question

Inside Higher Ed's Scott Jaschik just wrote a story about the Educational Testing Service's push to replace the GMAT with its own GRE exam as the standardized test for business school admissions, and he turned to our own Chad Troutwine for his take on this budding competition:

Chad Troutwine, CEO and co-founder of Veritas Prep, a high-end test-prep service for the GMAT, said that the the news from ETS could be significant. Troutwine said that ETS has faced "two big liabilities" in trying to promote the GRE. One has been a fear that minority test takers do not perform as well as white students — something that is expected to change with next year’s addition of the non-cognitive tests. The second problem was the lack of "hard data that the GRE was as predictive as the GMAT," Troutwine said.

If the ETS data stand up, he said, many business schools are likely to be "agnostic" on the two tests, seeing the flexibility as a "costless way" to attract more applicants. "The tests are very similar," he said. "This could be very big news."

At the same time, Troutwine said that the key question is whether business schools accept the ETS comparisons as valid: "Will the business schools accept that calibration? It’s one thing for ETS to say that a score on the GRE equates to a score on the GMAT, but will the business schools accept that in the same way ETS does?"

Click here to read the whole story. While the number of business schools that accept the GRE is a drop in the bucket compared to the number of schools that require the GMAT today, ETS is sure to keep pushing to sign up more schools. Even if the GRE never catches up to the GMAT, this push could ultimately force the Graduate Management Admission Council to respond in some way.

Speaking of the GMAT, if you're preparing for the test now, try our free practice GMAT test.

Announcing New GMAT Prep Course Offerings

As you may have read earlier this week in the Wall Street Journal article linked to this space, business school applications are expected to peak this year by a larger margin than at any other point in history. With the impending competition for slots in top schools compounded by uncertain job security throughout the global economy, MBA admissions consultants and GMAT instructors like me are in the unfamiliar position experienced most by rock stars and Broadway performers - "extended by popular demand".

To assist the multitude of potential MBA applicants who need to put together applications in short order before the January deadlines, Veritas Prep has just announced the addition of new end-of-2008 course schedules from coast to coast:

• Beginning on Monday, November 3 in Beverly Hills, California, Veritas Prep will run an additional 42-hour Full Course schedule (Monday/Wednesday, 7 to 10 p.m.)

• Beginning on Saturday, December 13, Veritas Prep will run an additional 36-hour Weekend Course Schedule in New York City (Midtown Manhattan location)

For information on these and the dozens of other Veritas Prep GMAT prep courses that are scheduled to begin in the upcoming weeks -- including a worldwide round of Full Course offerings beginning the final week of October -- take a look at our GMAT course schedule options.

More on the Uptick in MBA Applications

In what has become a common theme in the media, The Economist recently wrote a piece showing further evidence of an upwsing in MBA applications in the face of a slowing economy. The piece takes a look at business school applications as a predictor of future economic performance, saying, "Worryingly for those betting on a swift economic recovery, business schools reckon that next year could yield an even bigger crop of applicants."

According to a chart cited in the article, three-quarters of MBA programs are expected to reprt an increase in applications this year -- approaching the record levels seen in 2001-2002, right after the dot-com bubble. Adding on to the effect of a slowing economy is the continuing surge in applicants from India and other developing markets.

As far as the GMAT is concerned, the Graduate Management Admission Council expects at least a couple more years of strong growth for the exam. Registrations are expected to rise to 249,000 this year, yet another record.

If you're already planning on applying, don't depair. Stay the course, do your best to ace the GMAT, and then focus all your energy on perfecting your mba application. Don't worry about timing the market... Just focus on making your application as strong as it can be.

Free Sample GMAT Exam Now Available

Big news for everyone who's studying for the GMAT! For the first time, you can get a free practice GMAT exam from Veritas Prep.

For years we have offered our students 15 computer-adaptive practice GMAT tests -- by far the most practice GMAT exams in the industry. Now, we are pleased to make a practice test available to everyone in the MBA community, at no charge. Use this sample test to see where you stand and to pinpoint your areas of needed improvement.

Practice GMAT Exam Format

Just like the real GMAT exam, this computer-adaptive practice test consists of three sections:

• Analytical Writing Assessment (AWA) -- Two short essays to test your writing abilities: Analysis of an Issue and Analysis of an Argument. (30 minutes each)



• Quantitative Section -- 37 multiple-choice questions: Problem Solving and Data Sufficiency. (75 minutes)
  
  
• Verbal Section -- 41 multiple-choice questions: Reading Comprehension, Sentence Correction, and Critical Reasoning. (75 minutes)

Visit our site to access your free sample GMAT exam, or to learn more about which Veritas Prep GMAT prep course is right for you.

Lowest Price on The Official Guide for GMAT Review

Today Veritas Prep introduces an offer that just might change the landscape of GMAT preparation -- a brand new copy of The Official Guide for GMAT Review, 11 Edition, for just $10 plus shipping. This isn't a used copy or an older edition. This is the real deal that some stores sell for over $30. (Since this is such a low price, we're limiting this offer to one per person, while supplies last.)

We believe that success favors the prepared, especially when it comes to test preparation. We feels so strongly about this that we want The Official Guide to be affordable anyone who is preparing to take the exam. While you may decide to purchase other materials and services to prepare for the exam, this book can be a great starting point as you begin your GMAT preparation journey.

If you want additional preparation for the exam, Veritas Prep offers the most comprehensive GMAT prep courses in the industry. We urge you to buy a copy of The Official Guide, get familiar with the test and gauge how much help you may need, and then take a closer look at what Veritas Prep has to offer, including our full 42-hour course, private tutoring, and online training.

Best of luck. We hope you crush the GMAT!

HBS Releases Application Essays & Deadlines for Class of 2011

If anything marks the official beginning of the 2008-2009 application season, this is it: Harvard Business School just released its deadlines and application essays for the Class of 2011.

For those of you who are planning ahead, the application deadlines are mostly the same as last year, except for the Round 1 deadline, which is almost two weeks later than last year's. The deadlines are as follows:

• Round 1: Oct. 15, 2008
• Round 2: Jan. 6, 2009
• Round 3: Mar. 11, 2009

Remember that you want to aim for Round 1 or Round 2. Applying after Round 2 means competing for very few open seats, so you want to do everything you can to apply no later than Jan. 6, 2009. Since the Round 1 deadline is just five months away, it's not too early to start preparing! That especially goes for the GMAT. Study until it hurts, take a GMAT prep course if you want some extra help, and then nail the GMAT and get it off of your plate. The last thing you want to do is have to cram for the GMAT while you're also trying to perfect your essays and chase after the people writing your letters of recommendation!

Looking at the HBS application essays, there are now just four required this year, compared to five last year. Two are required, and two can be chosen from a list of four questions.

Required Essays

1. What are your three most substantial accomplishments and why do you view them as such? (600-word limit)
2. What have you learned from a mistake? (400-word limit)

Optional Essays (choose two)

1. What would you like the MBA Admissions Board to know about your undergraduate academic experience? (400-word limit)
2. Discuss how you have engaged with a community or organization. (400-word limit)
3. What area of the world are you most curious about and why? (400-word limit)
4. What is your career vision and why is this choice meaningful to you? (400-word limit)

Of the optional essays, many applicants will assume #1 is only meant as a "Let me explain why my undergrad GPA is low"-type essay, but also consider using this as a chance to discuss a time when you pushed yourself out of your intellectual comfort zone. Looking at #4, the "why is this choice meaningful to you" part is what is most interesting. HBS isn't looking for you to just rattle off your five-step plan for world domination. Explore why you want to do it, and why you're passionate about it. This kind of introspection is key to setting yourself apart in HBS admissions officers' eyes.

If you would like more information about applying to HBS, visit our Harvard Business School profile page. And for more information on business school application deadlines, visit our MBA admissions deadlines page.