GMAT vs GRE for Houston post-mba investment banking recruiting
I spoke with two separate RICE (Jones) admission recruiters, and both mentioned that for investment banking, companies often ask for GMAT scores. They also said that it’s still possible to take the GMAT even before recruiting.
Obviously, I haven’t taken the GMAT, but I scored 330+ on the GRE. Would that be a disadvantage? I’m sooo confused because everyone says the GRE and GMAT are treated the same for admissions. I’m not planning to take the GMAT. It’s an awful test designed to squeeze money out of students. Are Houston banks really asking for GMAT scores?
Based on the most helpful WSO content, here's what you need to know:
While both the GMAT and GRE are generally accepted for MBA admissions, the GMAT tends to carry more weight in the investment banking recruiting process, especially in Houston. This is because many banks, particularly in competitive markets like Houston, still view the GMAT as a stronger indicator of quantitative and analytical skills, which are critical in IB roles. Some firms may even explicitly ask for GMAT scores during recruiting, as mentioned by the RICE (Jones) recruiters you spoke with.
That said, your GRE score of 330+ is excellent and demonstrates strong aptitude. While it might not be a disadvantage for admissions, it could potentially be a slight hurdle during recruiting if a specific bank prefers GMAT scores. However, this doesn't mean you're out of the game. Here's what you can do:
Leverage Your GRE Score: Highlight your strong GRE performance in your applications and interviews. A 330+ score is impressive and can still showcase your capabilities.
Network Strategically: Many Houston banks value networking. Build relationships with alumni and professionals in the industry to demonstrate your interest and commitment to investment banking. This can help offset any perceived disadvantage of not having a GMAT score.
Focus on Your Story: Be prepared to explain why you chose the GRE over the GMAT. If you can articulate your reasoning and show confidence in your decision, it can help mitigate concerns.
Consider Taking the GMAT (If Necessary): If you find that multiple firms are explicitly asking for GMAT scores, you might want to reconsider taking it. While it's not ideal, it could open more doors in the long run.
Ultimately, while the GMAT might be preferred by some Houston banks, your GRE score, combined with strong networking and a compelling story, can still make you a competitive candidate.
Sources: Which schools will value a very high GMAT the most?, GMAT score for IB Associate Recruiting, Houston Investment Banking 2019, HBX CORe vs Smoking GMAT Quant, Ask mbaMission about Business School Admissions
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