Most GMAT students believe 500-600 to be an easy score, but even with that score, you must comprehend the fundamental principles of CR, SC, RC, PS, and DS. It's certainly doable with a little coaching. However, top schools may say no thanks because there are more talented applicants out there.
The average score for people who take the exam is about 480, but this varies depending on how many times it is taken. People who retake the test usually score higher the second time around. There was also a recent report that claimed that someone had scored a perfect 496, but this person was not identified and there were questions about their qualifications.
To put things in perspective, scoring above a 490 would place you in the top 10% of test takers. This means you're in good company - Steve Jobs, Bill Gates, and Mark Zuckerberg are just some of the people who have scored above a 500.
However, keep in mind that only people who apply to business school typically score well on the exam. The top performers are often those who get recruited by top schools when they take the exam multiple times. Even so, business schools want to make sure that you have something special to offer so they will seek out other ways of evaluating your talent. For example, they might look at your work experience or leadership positions within your field.
As a GMAT taker, you might be glad to learn that the average GMAT score is 556 out of 800, or 69.5 percent (almost equal to 70 percent ). Referring to it as an average score, you may claim that obtaining 70% on the GMAT would not be difficult with modest preparation. However, when you take into account scores below 500 and above 750, the picture becomes more complicated.
The lowest score recorded on the GMAT is 400. Applying to law schools, applicants must pass both the writing and verbal sections in order to be considered for admission. If you received a score of 0-199 on the written section or 200-399 on the verbal section, you would not be admitted to any law school.
Thus, you can see that there is no such thing as an average GMAT score. Instead, there are only scores that represent very poor performance (lowest score of 400) or very good performance (highest score of 750). For the majority of people who take the test, it is difficult but not impossible. You need to be aware of how many people there are taking the test, what their average score is, and whether you want to beat or match that average. Only then can you make an informed decision about your study plan and your target score.
The total GMAT score ranges between 200 and 800. Two-thirds of test takers have scores ranging from 400 to 600. GMAT scores include a percentile ranking as well. Scores below 10th percentile are considered low-scoring. Scores above 90th are high-scoring.
Some schools may use their own set of criteria for admission, so check with them directly. Other factors such as academic record, extracurricular activities, essay responses, or interviews may also be taken into consideration.
The average total cost of attendance at a GMAT-certified school is $40,000, which includes tuition, fees, room and board, books, supplies, and transportation.
In addition to being used by applicants for admission to business schools, the GMAT is also required for those who want to take the Certified Financial Manager (CFA) exam offered by the CFA Institute. The CAT version of the test is also required for applicants seeking admissions to law schools in India. The LSAT is required for those wanting to take the legal profession in India. The SPO Test is required for applicants seeking admissions to teaching positions in government schools.
The GED test is used to evaluate individuals who have failed to meet the academic requirements for entrance into some higher education institutions.