Interpreting the Stats

Upon checking up on some business schools, I noticed something interesting. At many of the institutions, the mean and median GMAT scores did not match up perfectly. While I wouldn’t call the gap a “chasm,” by any means, the slight mismatch in mean and median GMAT scores shows that the scores of admitted students can be slightly skewed.

Looking at some data for a few schools we find a sample where the mean score is 715 while the median is 720. This school is fairly consistent with the GMAT scores of admitted students. While slightly more students might score closer to a 710 than a 720, the mean and median are relatively close, and the data is only slightly skewed. If the mean was a 650 and the median was a 730, the bigger gap would show that this school accepts more of the lower scores in exchange for outstanding experiences or other qualities. The Middle 80% means that 10% of the admitted class score below the range and 10% score above. At this sample school, the middle 80% range is 660 to 760. This means that 10% of the admitted students score between a 770 and an 800, while the final 10% score below a 660.

While the range is a pretty good indicator of what qualifications and scores that the school looks for in prospective candidates, being outside of the 80% range is not the end-all-be-all of the application process. There are, in fact 20% of the applicants who do not land in the range. If your scores are slightly outside of the 80% range of your dream school, you might be looking for some sort of insurance policy, or safety net to fall back on. Our advice: be different.

Business schools admissions staff reviews thousands of applications each year in an attempt to form the incoming class of MBAs. The reviewers check over GMAT scores, essays, undergraduate GPAs, extracurricular activities, and work experience, until eventually all of the information blends together. In truth, there is no single model candidate for a school, and with admissions becoming increasingly competitive, more and more students are achieving “perfect” credentials for admittance to schools, but are still receiving rejection letters. While being able to keep up with the MBA curriculum is a concern of the admissions staff, it is also important for you, as a member of the new class, to add something to the team. Whether it be an outlook on life, an interesting work experience, or a rare hobby or passion; make sure your application is memorable. The admissions team is more likely to remember the applicant with a 610 GMAT who worked to help struggling businesses in Malawi than fifty other applicants with 770s who worked as analysts at fortune 500 firms. While this example might be extreme, it proves something: these schools want people to be who they are to the best of their abilities. If that means embracing a strange hobby or taking the path less walked upon, you should always follow your heart.