GMAT in IB.
Hi everybody! I’m new here and would love to get some advice about how relevant GMAT is in order to get your first internship in IB? I have some time now (graduating soon) and considering all options to increase chances to win an internship in a top tier Bank. I m happy to hear all opinions about if I should dedicate a lot of time and try to get a high GMAT score or should I spend this time on some other more relevant things?
Thank you in advance
And please share your opinion about how high should GMAT be so top banks consider your application? (if we assume that GPA is >4.0)
See absolutely no value add unless you actually plan on going to b-school or Master’s, otherwise very much a waste of your time. Focus on the multitude of other things actually increasing your chances (technicals, competency questions, networking).
Thank you for answer ) I’m actually graduating Business School in 1 year , that is why thinking of GMAT relevance to get internship
He means business school for an MBA. Are you currently enrolled in a bachelor's or MBA? Either way, the GMAT score seems to be more relevant for consulting applications. Investment banks don't care as far as I am aware.
GMAT score is more relevant than not for IB associate recruiting but a 700+ score is not a guarantee at all.
I've seen multiple 700+ GMAT scorers in my full time MBA program get zero internship offers and lose out to sub-670 gmat professional MBA students. I didn't get a 700+ but was close to it and received multiple offers.
Likeability is a hugely underrated factor.
Decently smart (660+ gmat, good GPA), likeable and hard working >>> very smart (700+ gmat, high GPA) but not interesting to talk to, or even annoying and cocky. Trumps every time.
Likeability is the most important thing, but most of the BBs and EBs are going to be able to pick between people with at least a 700. Most people I’ve met with sub 680 scores really struggle during recruiting (at least with top firms) even when they nail everything else.
I agree that some banks demand 700+ gmats like GS, Morgan Stanley, Centerview, Lazard, Moelis, Evercore that only want the cream of the crop.
But I've seen many sub-700 placements in top groups at JP Morgan, Citi, BofA, Barclays etc.
Does that mean that the banks that recruit the best have the best dealflow and top the league tables? No. (Although GS is killing everybody everywhere)
It's useless for undergrad though I will say, if you fucked up your SATs and college GPA (like yours truly), it can help in shaping your story and show you are actually intellectual but this should be a supplement rather than any remote form of a basis for geting hired. Don't even bring it up in interviews but when they do ask about it, craft a story which shows your progression and how a good GMAT score highlights your academic horsepower
Given average GMAT score at top business schools are 730+, the unspoken rule in my MBA business schools">M7 school is that you don't put your GMAT on the resume unless it's 750 or above. This is communicated during resume review, etc. No bank really cares about this, at least not for getting a first round interview.
700+ is a really, really low bar in top schools with a 80% GAMT range of 690-760. Meaning 90% has 690 or above, or you an guess some 80% - 85% people has 700+.
This is right on. Anybody with a sub 700 really should try to get that up because it will be in people's minds during recruiting very similar to that of a low GPA.
Not putting it on unless you have 750+ sounds extremely high. I have myself attended a programme with 730+ average, and it was clearly communicated that anything 700+ is worth putting on. You have to consider the fact that reviewers are more likely to jump to the conclusion that you are significantly below average without your score, then they are to believe you are around average.
That being said, I don't put it on myself given I think it is a waste of space compared to other stuff (unless it is truly high score like 760+).
I am surprised that your career center communicates that you should put 700 on the resume where mine says 750+ is worth putting on resume.
In your prestigious school where average is 730+, if you put 700, you are basically telling people you are the bottom 20% when it comes to standard test scores. Not that I am saying GMAT scores means anything -- I think GMAT nothing at all -- but being the bottom 20% just isn't that great. That's just like putting something like a 3.4 GPA. Not that helpful. So might as well exclude from resume.
A few issues with commentary in this thread:
MBA business schools">M7 business schools communicate that you should put your GMAT score on your resume should it be 700+. Contrary to popular belief, averages at the MBA business schools">M7 (and other business schools) are held at heightened levels because of extreme outliers from overly representated demographics. This allows the admisison teams at these programs to admit students that fill other quotas and "round out" the profile of the class. Not everyone at Northwestern Kellogg is walking around with a 750+.
We are truly splitting hairs when it comes to discrepancies in high GMAT scores. If you seriously think that banks select candidates because one scored better than 99% of test takers whereas the other applicant scored better than 96% of test takers, you're delusioned.
Furthermore, there is feedback from some employers that listing one's GMAT score is a waste of space on a resume. Employers, presumably, are using your enrollment as a signal of your ability. As such, listing your score separately confirms what the bank (or employer) already knows--you're capable.
[quote="Perfunctory"] A few issues with commentary in this thread:
Cool...I guess we definitely go to different MBA business schools">M7 schools. It just happens that entire banking candidate pool in my MBA business schools">M7 school had 700-790. and guess what, 750 or below did not elect to put their GMAT score on there. I don't know about Kellogg and I suspect you don't like it very much. But at least rest assured in HBS at least 50% people have 730 or above because they report GMAT median, not average.
I agree with you banks don't care and GMAT is an useless indicator. But I disagree that you should put a 700 on your resume. Do I think 700 people are awesome and deserve an equal chance at GS? Hell yeah. Do I think they should put it on their resume? Nope.
I didn’t see anyone in this thread say that a high GMAT will be a difference maker. Myself and others have made clear that a low GMAT is a deal breaker. It is very similar to the GPA cut offs for undergrads. Nobody is splitting hairs over a 3.8 vs 3.9, but a 3.2 will hold you back at a lot of places.
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