What is a GMAT or GRE?
These tests are important tools which allow the Admissions Committee to assess your aptitude for rigorous graduate/business study. Both exams are multiple-choice, computer-based standardised exams, both tests will have multiple sections, including but not limited to, verbal reasoning and quantitative reasoning. Both GMAT and GRE have undergone changes to their tests in the last few months, so it’s worth updating yourself on those changes as you start to prepare.
At London Business School, we review applications with a holistic approach so your test score will be one component considered alongside other application elements, such as your previous academics, your work experience so far, the quality of your essays, your professional reference etc.
Do I have to take the GMAT or GRE test?
The GMAT/GMAT Focus or GRE is a mandatory requirement of the application process, acting as a supporting document to your online application. However, in some cases the Admissions Committee can grant waivers to applicants who can demonstrate previous academic excellence, strong grades with an emphasis in quantitative subjects and outstanding professional finance experience.
How will I know if I am eligible for a waiver?
For the Masters in Finance, applicants who have obtained a CFA II or above will receive an automatic GMAT/GRE waiver. As this waiver is guaranteed, you do not need to contact our Recruitment and Admissions team in advance for this to be granted.
If you do not hold a CFA II or above but would like to be considered for a GMAT/GRE waiver, we encourage you to submit your CV, full academic transcripts and a short supporting statement demonstrating your quantitative skills and experience. In writing this statement you are welcome to include academic and professional qualifications, employment experience or any other relevant information.
Please email the documents and statement to mif@london.edu before submitting your application.
What scores are Admissions looking for?
Our class scores for GMAT have traditionally ranged anywhere from 600 up to 780. In the new GMAT Focus Edition test, this is roughly equivalent to a range of 555 to 755.
Submitting with a high score (GMAT 680+, GMAT Focus 635+ or GRE 155 Verbal and 165 Quantitative) can positively impact your Masters in Finance application, and can offset any possible weaknesses in your university grades. However, it’s important to reiterate that GMAT/GRE scores are just one part of the application. A higher score does add weight to a profile, but it doesn’t guarantee admission. Similarly, a low score doesn’t automatically discount you from the process.
Does the Admissions committee have a preference over GMAT or GRE?
We have no preference between GMAT and GRE, it will not have any impact on your application whether you choose to do GMAT or GRE, we look at them both equally. Our advice here is to take practice tests for both GMAT and GRE to determine which best suits you.
Practice the GMAT test with London Business School’s GMAT simulator.
GMAT practice tests are also available via mba.com and GRE practice tests available via ets.org.
If you have any further questions regarding a GMAT/GRE waiver please email mif@london.edu