UPDATE: This article was originally posted on November 9, 2018. It has been updated with new information and tips below.
Recently, one of our clients was putting the finishing touches on her Round 2 applications. After fully dedicating herself to studying for the test, she walked away with an impressive score of 730 on her first attempt. In a meeting we had with her later that day, she brought up a common question: “Should I take it again?”
Though this might seem like a strange thing for this client to ask (after all, a 730 is quite a high score), with average GMAT scores at elite MBA programs skyrocketing in recent years, maximizing your score is essential to a strong application. Additionally, the GRE has also become a much more popular test for MBA hopefuls, with the majority of top-ranked programs now publishing average GRE scores for incoming classes.
Nonetheless, like any other part of your MBA application, having the right strategy when it comes to deciding how many times to take the GMAT or GRE is key. That’s why we’re diving deep into this question in this post, discussing various factors that you must consider when setting your target score and setting out to ensure you hit your target.
Setting your target score
Most journeys start with a clear destination in mind.
Studying for the GMAT or GRE is no different. In other words, you should have an idea of what score you want to achieve before you start studying.
Though average scores worldwide have increased in recent years, there is still a great deal of variation when it comes to the “ideal” score for each applicant. The following factors are the most important!
The stats at your dream school
Every business school is just a little bit different. Some schools place an incredibly high value on the GMAT or GRE score, while others look more at your global experience or your communication skills, for example.
As such, after deciding which schools you plan to target, deep dive into your target school’s GMAT or GRE data to determine what their “typical” candidate scores on the test.
At most schools, score data is presented in one of two ways: “average” score and/or 80% range. The average score considers all applicants in a certain class and is represented by either the median score or the mean score, so make sure you check a school’s website closely! The 80% range will give you two scores, between which 80% of candidates’ scores fall.
For example, let’s take a look at Stanford’s score data for the Class of 2024:
Source: Stanford’s website
If we look only at the 80% range, the numbers seem promising! Yes, there were applicants who obtained nearly perfect scores on the test, but there were also applicants who scored 630 and got into one of the world’s most competitive business schools!
Though it can be tempting to think like this, it’s absolutely necessary that you also consider the school’s average score. Yes, at Stanford one (or maybe two!) applicants passed with a score of 630, but the average score – 737 for GMAT and 164V/163Q for GRE – tells us that Stanford generally tends to prefer applicants with high GMAT or GRE scores.
Thus, we recommend that you aim to score as close as possible to your dream school’s average score, as it generally means you’ll have a more competitive profile at that school. However, if you don’t think you’ll be able to score close to the average, don’t despair! As long as your score generally falls within the 80% range, certain elements of your profile can help you overcome a lower score and land a spot at your dream school.
This brings us to our next point.
Your specific profile
It might seem obvious, but no two MBA applicants are the same.
Instead, there are numerous factors that make each applicant unique, and here at Ellin Lolis Consulting, we love helping each client discover what makes them unlike anyone else! And one of the best ways of doing this is by brainstorming and developing your personal brand, with the key factors that make you you and examples to demonstrate these ideas in practice.
Some of these unique factors can be used as great stories in your profile and others directly influence just how high you need to score on the GMAT or GRE exam.
For example, though the “gender gap” at top business schools is closing, business schools still admit many more men than they do women. As a result, the average scores required of women can sometimes be slightly lower than those of male applicants with similar backgrounds. While this shouldn’t be taken to extremes (top schools will only admit fully qualified candidates, after all), our experience has shown that women are generally more successful in the application process than men with the exact same GMAT or GRE score. As such, if you’re a woman thinking of applying but your score is slightly lower than your male peers, it’s still worth it to try.
A similar pattern also holds when looking at average scores from different regions around the world. In the US and other highly represented applicant pools (such as India), the average scores for admitted applicants tend to be relatively high, given the overall competition in that pool. However, if you’re applying from a very diverse pool, meaning few people from your region apply to your target business schools, the added diversity you bring to the class may be able to counterbalance a slightly lower GMAT or GRE score.
Nonetheless, if you have a less-than-spotless academic record (perhaps you failed a few classes or have a low GPA), you should consider putting extra effort into the GMAT or GRE since a high score can help ease any concerns that you’re academically prepared to handle the program.
TOP TIP: If you’re not sure which exam is best for you, we’ve written a post containing our best advice to help you choose the exam that will maximize your chances of being admitted to your top choice programs.
Scholarship considerations
For most undergraduate university programs in the US, scholarships are granted on the basis of financial need or merit.
However, in MBA programs, scholarships are most often used to lure top applicants to a specific program.
As such, one of the most important factors admissions committees consider when giving out scholarships is your GMAT or GRE score. That means that, though your current GMAT or GRE score might be just high enough to get you into your dream school, you may want to bump your score up a few more points if securing a scholarship is important to make your dream of attending a top MBA a reality.
Need help funding your MBA? Check out our post on the topic, or read our top tips on how to negotiate a scholarship here!
Monitoring your progress
After determining your target GMAT or GRE score, it’s time to put in the hours and start studying for the test.
Though there are many different ways to study, Kaplan estimates that the average top scorer spends at least 120 hours studying. If you’re able to study 10 hours a week, that means you should be ready to take the test about 12 weeks after studying. 
Though there are many online courses and resources to help you plan different phases of your study, it’s important to monitor your progress over time. Once you’re able to reach your target score on practice exams consistently, try taking the test, as you have built the conceptual and time management skills you’ll need to excel on test day.
However, if you end up not reaching your target score, don’t despair!
Few people get their target score on the first try
As the old saying goes, practice makes perfect. However, it can be incredibly frustrating to study for the GMAT or GRE diligently and consistently reach your target score on multiple mock tests, only to find that on test day, you fall short of your goal.
Though posts on internet forums and rumors circulating in your friend group may make it seem most candidates fly through the GMAT or GRE with minimal effort, this simply isn’t true. In fact, nearly 20% of all GMAT exams given annually are “retakes.” In our experience, the number of retakes is similar for our candidates who opt to take the GRE.
This means you don’t need to be perfect on your first try, since it’s perfectly normal to take the test again.
However, retaking the test is not a “magic” solution to increase your score. Before retaking, consider if you were fully prepared for the first attempt and try to work on your weak areas (such as timing!) before retaking. By understanding what went wrong, you’ll be on track to boost your score next time around.
You can cancel your score
One of the most important factors determining whether or not you should retake is GMAC’s policies regarding the test. We explore this more below.
Canceling your score
When you finish the GMAT exam, you will be taken automatically to a screen that displays your final score out of 800 and IR score. Your AWA score will not appear, as this section takes longer to grade.
Once you reach this screen, you are given the option to cancel or accept your score.
If you cancel your score, the test appointment will not appear on the score reports you send to business schools. On their end, it will be like the test appointment never happened. On the PDF available to you on your GMAC profile, you will be able to see the dates you took canceled tests but will not be able to see the score you obtained.
If you cancel your test, you can reinstate the score for a small fee as long as you do so within 4 years and 11 months of the original test date. If you reinstate a score, it will be automatically sent to the list of schools you registered to receive your test (if any). You cannot change the list of schools that receive the reinstated score.
However, if you accept your score, you have 72 hours to change your mind and cancel your score. You must also pay a fee for this service.
As such, we recommend that you go into the test with a clear idea of which scores you will accept and which you will cancel. If you’re in doubt, it can be a good idea to cancel the score, as you have longer to make your “final decision.”
Because of these new policies, the risk associated with retaking the GMAT is greatly diminished. Though you should make sure you prepare yourself to improve your score with each new test attempt, you can always cancel your score if things do not go as planned.
The timeframe for retaking
Since 2016, test takers have only been able to take the test 5 times every 12 months (and, for the GMAT, no more than 8 times in your life).
Furthermore, you can only take the test every 16 days for the GMAT and 21 days for the GRE, so make sure to plan your test attempts wisely to ensure you do not miss any critical application deadlines.
A note on the GRE
If you opt to take the GRE, you can also cancel your scores. However, unlike the GMAT, you can only cancel your score before you see it. Once you view your score, you are no longer able to cancel it.
Image courtesy of the ETS website
However, ETS, the company that administers the GRE, offers a ScoreSelect® option, which allows you to select only the tests you want to appear when sending score reports to universities. That means that, even if you don’t cancel a score, you don’t necessarily have to report it to your target schools.
If you do choose to cancel your score, you can reinstate it within 60 days of your test date for a $50 fee.
Are online tests considered “worse”?
Due to lockdowns related to the COVID-19 pandemic, the GMAT and GRE are both available in online formats, although recently have started re-opening select in-person testing locations (see the GMAT or GRE websites to check on their in-person availability near you). Schools do not view online tests differently than in-person tests.
How elite MBAs view retakes
Of course, at the end of the day, one of our clients’ greatest concerns is how elite MBA programs will view taking the GMAT or GRE more than once.
In general, retaking an admissions test is seen as a very positive sign that you are self-aware and focused on putting your best foot forward in your application.
However, make sure that you’re making improvements each time you take the test. This shows that you were able to adequately identify and address your strengths and weaknesses. If your score has stagnated, however, you may want to avoid retaking the test multiple times.
If you were not able to achieve your target store after multiple tries, don’t worry. Most schools offer an opportunity for you to explain any outstanding circumstances in their optional essays. If your score is lower than you’d hoped, we suggest that you use the optional essay to explain where your strengths and skills have presented themselves in other ways. For example, one of our clients recently justified their low test scores by saying that their abilities are better showcased in their outstanding performance scores at their company and in the results they have been able to achieve for clients.
Set the appropriate strategy for your profile
During the MBA application process, you will need to make thousands of decisions that will impact your life for decades to come.
One of the most important decisions is choosing how many times to take the GMAT or GRE.
Though you may be tempted just to hope for the best, having a trusted ally who can use their deep knowledge of your profile and what different business schools look for can be the difference between getting into your dream MBA program and wishing you’d done everything differently.
Luckily, our team of experts here at Ellin Lolis Consulting can help you along every step of the process, from creating your application timeline to preparing your testing strategy to writing your essays.
If you’d like to start putting the Ellin Lolis Advantage to work for you right from the very start, apply to work with us today!
Real MBA Essays That Got People In
School-specific sample essays that got our clients accepted
