The average GMAT score of accepted students
at Harvard Business School is 707.
In the early nineties, the
average GMAT score of accepted students at New York University (Stern)
Business School was 610. As of last year, NYU's average GMAT test score for accepted applicants had jumped
90 points to approximately 700. Getting a high score on the GMAT
is crucial because the business schools are getting flooded with applicants.
Expect around a 700 average score for the top-ten business schools this year.
That 700 average is deceptive because it includes
many students who were accepted for favorable traits (diversity, unusual
accomplishment or success, etc.) that allow them to gain acceptance
with a lower score. If you have none of these types of traits, then you
probably need to break 730 (that's the 99th percentile)
to have a good chance at a top-ten school.
London Business School graduates had an average starting salary of $175,000 for year 2014. Business school graduates, particularly from those from programs in Europe, are faring well. Corporate profits are holding up in this recession, so companies have the money to pay for MBA graduates and need them to manage growth. Certain makets, like legal services, aren't doing so well. If you are deciding between business school or law school, business school seems the better choice right now.
Competition at business schools may be fierce, and you may not get into your first choice school, but getting an MBA right now might be a wise way to ride out a once-in-a-lifetime economic storm. GMAT preparation is of prime importance in this brutally competitive MBA admissions cycle.
GMAT scores of major MBA programs (2014)