A 11 min read

If you’re planning to apply to a top business school, achieving a good GMAT score is crucial. So what exactly is considered a good score? Generally, a good GMAT score is between 700 and 740, and a score of 740+ is an excellent score. The average GMAT score for the top 30 business schools in the US in 2022 is 711. It ranges from 665 – 733. Similarly, the average score for the top business schools in Europe is 676, ranging between 638-709. If we look at the top MBA programs in Canada, the average GMAT score range is between 520-780, and for Australia, it’s between 600-695. Thus, the question arises – What is a Good GMAT Score?

A good GMAT score varies from person to person and depends on the target business schools. Therefore, what we need to understand first is that ‘good’ is a relative term. One score might be good for one business school but might not be suitable for another.

Thus, having a look at the average GMAT score of the incoming class for your targeted business school is one way to identify a good GMAT score. But that is not the only step.

In this article, we help you decide the best GMAT score for you and how to derive one in just 5 steps. We also discuss the factors that you need to consider to know – What is a good GMAT score?

A high GMAT score can set you apart from the competition and help you get an admit at your dream business school. Start your GMAT Preparation with the most reviewed online GMAT prep company. Try out our FREE Trial Today!

What is a good GMAT score?

A good GMAT is generally above 700 if you want to get into top business schools. A 740+ score is considered an excellent score whereas a 550+ score is considered average.

What is a good GMAT score?	Score
Average GMAT Score	550+
Good GMAT score	700+
Excellent GMAT score	740+

A good GMAT score is an indicator of your sound intellectual aptitude and academic readiness. By scoring high on the GMAT, you are assuring the admission committees that you have the potential to not only ‘get in’ but also ‘get through’ the rigorous MBA program.  It’s one of the reasons why the GMAT has the highest weightage in your MBA application.

Thus, scoring high on the GMAT is a reliable predictor of how you will perform in your first year of business school. According to GMAC, the average score of all test takers between 2019 and 2021 is 574.51. So, a good GMAT score will be above 574?

No. Because everyone has unique goals and, therefore, a standard answer to the question, “What’s a good GMAT score?” cannot fit in.

When you apply to a business school, you are competing against your peer. Thus a high score will set you apart. As pointed out by Ariba, an INSEAD MBA student, “One of the things that you start realizing is a lot of business schools have an international quota. So, if you have a lot of applicants from say India with an amazing application, then one way to filter out is the GMAT.”

Thus, to understand how high you should score on the GMAT, you also need to understand the GMAT percentile ranking, which will let you know how you did on the exam as compared to other test-takers. For example, an 88% percentile ranking means that you got a higher or equal total score than 88% of your peers and a lower overall score than 11% of other GMAT test-takers.  

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Total GMAT score – percentile ranking

Let us, now look at the overall GMAT score percentile ranking with the individual Quant, Verbal, Integrated Reasoning, and AWA Percentile Ranking for students who gave GMAT from 2019-2021:

GMAT score	GMAT percentile
800	99%
790	99%
780	99%
770	99%
760	99%
750	98%
740	97%
730	96%
720	94%
710	90%
700	87%
690	84%
680	80%
670	78%
660	74%
650	70%
640	64%
630	62%
620	58%
610	54%
600	50%

GMAT has four sections:

• Quantitative – scored between 0 and 60
• Verbal – Scored between 0 and 60
• Integrated Reasoning – Scored between 1 and 8
• Analytical Writing Assessment – Scored between 0 and 6

Let us now look at the percentile rankings for the scores in each of the four sections:

GMAT Score percentile ranking sub-section wise

GMAT Verbal:

Verbal Score	51	46	40	35	30	25	20	15	10
Verbal Percentile Ranking	99%	99%	90%	74%	56%	37%	21%	9%	2%

GMAT Quant:

Quant Score	51	46	41	36	31	26	21	16	10
Quant Percentile Ranking	97%	53%	34%	22%	14%	8%	5%	3%	1%

Integrated reasoning:

IR Score	8	7	6	5	4	3	2	1
Integrated Percentile Ranking	90%	79%	64%	47%	31%	17%	8%	0%

AWA:

AWA Score	6	5	4	3	2	1	0
AWA Percentile ranking	87%	56%	18%	4%	1%	1%	0%

Only the scores of the Quantitative and Verbal sections are considered for the total GMAT score, which ranges between 200 and 800.

Read this article to know if GMAT integrated reasoning and AWA matters for MBA admissions?  

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Average GMAT score

The average Quant and Verbal scores (2019-21) are 41.3 and 27.51, respectively. Similarly, for Integrated reasoning and AWA score are 4.65 and 4.43 for the test takers between 2019-2021.

You can note that the gap between Quant and Verbal percentile ranking for a score of 46 is pretty huge. If you score 46 in the Verbal and Quant section, you will be considered under the 99th percentile in Verbal, whereas for the Quant section, you only make it to the 53rd percentile. This gap indicates that more students score high on the Quant section than the Verbal section.

The total GMAT average score mention by GMAC (574.51), you need to score more than 550, which is a 38% percentile ranking. However, if you are planning to get into top business schools in the US, the average GMAT range is between 634-734. Take a look at the average GMAT score for all test-takers from three years (2019-2021):

GMAT Section	Average Score
Quantitative score	41.3
Verbal score	27.51
Integrated Reasoning score	4.65
Analytical Writing Assessment score	4.43
Total Score	574.51

Thus, a good GMAT score depends on the business school you are targeting and what you are aiming for.  Even a score of 600 would be considered low at some schools. Business schools such as Wharton, Stanford, Kellogg, UC-Berkeley, Columbia, and MIT Sloan have average scores above 725 on the GMAT.  

Let us now look at the factors that you need to take into consideration to identify a good GMAT score for you.

Factors to Consider to determine a Good GMAT score

There are four factors you need to take into consideration:

1. Average Score of the last incoming class
2. Profile of last year’s class
3. Score required for Scholarship
4. Estimated ROI on the GMAT score

Average GMAT Score of the last incoming class

A good score can be identified by looking at the average score of last year’s class. At this point, you should target a score that is 20+ points higher than this score.

For example, Wharton’s average GMAT score for the 2024 MBA class is 733. Therefore, you should target at least 750+.

Score required for Top Business Schools

Ariba, an MBA student at INSEAD MBA, points out that you do need a decent score on the GMAT to get an admit.  You should aim for a 700+ on the GMAT or even above to get into top business schools.

Another MBA student who got an admit from Harvard Business school and Stanford GSB states that “Your GMAT and GPA will give you a chance to get to the interview.” He scored 710 on the GMAT.

In general, the top MBA programs look for a score of 725+, whereas for the next set of business schools, the average scores of incoming students are usually in the 650-720 range. 

Here is the table that represents the average score for some of the top  business schools in the US, India, Canada, and Australia:

Average GMAT score for top business schools in the United States of America:

Business School Name:	GMAT Score (Class of 2024)
The Wharton School	733
Harvard Business School	730
Stanford Graduate School of Business	737
Booth School of Business	732
Kellogg School of Management	729
MIT Sloan School of Management	730
Dartmouth Tuck	726
Columbia Business School	729
UC Berkeley (Haas)	729
Yale School of Management	725

Average GMAT score for top business schools in Europe:

Business School Name:	GMAT Score (latest incoming class)
INSEAD	710
London Business School	708
Cambridge (Judge)	687
HEC Paris	690
IESE Business School	681
Oxford (Saïd)	690
IMD	680
IE Business School	650-770
Mannheim	600+
SDA Bocconi	665

Average GMAT score for top business schools in Australia:

Business School Name:	GMAT Score (latest incoming class)
Melbourne Business School (2019)	695
Australian Graduate School of Management (AGSM) 2020	670
Monash Business School	N/A
University of Queensland Business School	600
MGSM Macquarie	680
University of Sydney	600+

Average GMAT score for top business schools in Canada:

Business School Name:	GMAT Score
University of Toronto – Rotman School of Management	678
McGill University – Desautels Faculty of Management	675
York University – Schulich School of Business	660
Western University – Ivey Business School	660
HEC Montreal	630+
Queen’s Smith School of Business	654
Alberta School of Business	550+
UBC Sauder School of Business	650+
Concordia University – John Molson School of Business	580 +
Sobey School of Business	590

A high GMAT score can set you apart from the competition and help you get an admit at your dream business school. Start your GMAT Preparation with the most reviewed online GMAT prep company. Try out our FREE Trial Today!

Aspiring to score 700+ on the GMAT? Watch this video:

Profile of last year’s class

Let’s pick Wharton as an example. 750+ on the GMAT  is a good score, which will increase your chances of getting an admit from Wharton. However, the chances of your admission will depend on the level of competition in your candidate pool. At the end of the day, Wharton, like any other business school, is trying to build a diverse class.

For example, if you are a software engineer from China, your candidate pool is highly competitive. A good GMAT score for you would be at least 30-40 points higher than the average score of Wharton i.e. 760+.

On the other hand, if you are an investment banker from Mexico, yours is a low-competition candidate pool. You could get an admit from Wharton with a 720 on the GMAT.

Anuj, an Indian engineer with 6-year work experience in Petroleum and Energy industry, received an admit from Duke with a 770 on the GMAT. On the other hand, Guillermo received an admit from Wharton with a 710 score and a 5-year work experience in Finance.

The crux of this whole analysis is that the best GMAT score is the one that will distinguish you in your candidate pool.

Score required for MBA Scholarships

According to Jon Fuller, a former admissions director at the University of Michigan Ross School of Business states that “Someone with a 770 GMAT is much more likely to get a financial award than someone with a 670.”

A study shows, if you score 20 points higher than the median GMAT score of your desired business school, you have high chances of getting a good scholarship amount.

Thus, a general thumb rule is targeting a score higher than the Business’s incoming class score. For example, if you are targeting the top 10 B-schools, GMAT 740+ will make your application more lucrative. If you are targeting the top 25 B-schools, then a score of 720+ can do the trick. 

Read this article to know more about How to get a scholarship for an MBA in 2023?

Estimated ROI on the GMAT score

We have estimated that the incremental ROI of a 730+ GMAT Score over 700 is $500K+, the highest it has ever been. A 730+ on the GMAT or higher helps in getting into top business schools, and the career outcome at these business schools is far higher than others.

For example, the average base salary of MBA graduates 2022 from MIT Sloan is $159,391, whereas for Babson College is $116,935.

Also, as stated earlier, a high score is likely to attract the right amount of scholarships, which will, in turn, reduce your MBA cost and have a positive impact on the ROI.

Thus, look into your targeted business school’s average score and class profile. This will give you an idea about what should your targeted score be. Also, if you are planning to apply for scholarships, then you might have to rethink your targeted GMAT score.

What is a Good GMAT Score? A 5-Step Guideline

1. Self Assessment
2. Identify your target Business Schools
3. Research your target business schools
4. Refine the list of target business schools
5. Arrive at a good GMAT score for you

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Once you have considered these factors, follow this 5-step process, and you’ll be able to identify what is the best GMAT score for you:

1. Self-Assessment:

To reach your target business school, you must first know your starting point. There are two aspects to assessing yourself.

• Identifying your current score. The best way to achieve this is to take a diagnostic test.
  • Verbal Diagnostic Quiz
  • Quant Diagnostic Quiz
• Assess your profile on the basis of the following factors:
  • Pre-MBA industry
  • Nationality
  • Gender
  • Average GPA
  • Average age

The purpose of this step is to establish a baseline. It will give you an idea of where you are as of now, and following step 3 will provide you with an idea of where you want to go and the gap you have to fill.

For example – If you get a score of 450 in the diagnostic test and you have two months left for the application deadline, then it would be difficult to improve to a 700+ score level in that amount of time. Moreover, at this time, you’ll also have to work on your application essay.

Therefore, establishing a baseline score is essential.

2. Identify your target Business Schools

Once you are done assessing yourself, you should then identify your target business schools. The factors to consider here are your career goals. If you want a career in Finance, Wharton is a business school, and you should target it. If you want a career in consulting, Booth is the school you should focus on.

Here are top business schools for Marketing, Finance, Technology, Operations, Entrepreneurship, and Consulting.

3. Research your target business schools

There are two aspects you need to research on, for your target business school

• The average score of last year’s incoming batch
• Last year’s class profile

4. Refine the list of target business schools

Now you have an idea about a good score for you and are clear on your career goals. You should refine your list of business schools and divide them into three categories:

• Reasonable ones (Your profile and score are a good fit)
• Optimistic ones (You are pushing your luck here, but there is a small chance of admission)
• Safety nets (You are almost sure of an admit)

5. Arrive at a good GMAT score for you

Once you a refined list of your target business schools, compute a score for yourself by taking the factors into consideration:

• Understanding the competition level in your candidate pool
• The average score of the last incoming class
• Getting the Scholarship 
• Analyzing the ROI 

Let’s have a look at the above process with the help of an example.

If you are from an over-represented applicant pool like an IT engineer working in information, technology, or engineering, a higher score can increase your chances of an admit.

For example,

You are an Indian Engineer with 4-5-year work experience, and your baseline score is 680 at the moment. At this point, you wish to target the top 10 business schools.

After considering your candidate pool competition and the average GMAT score of your target business schools, the best score would be 30+ points higher than the maximum average of the business schools.

Stanford GSB has an average score of 737. Therefore, you should get around 764 and above to stand out. 

If you are not left with enough time for preparation, then you can refine your list to the Business Schools from rank 6 to 15. With the same process, a good GMAT score for you would be 750 and above.

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