The Graduate Management Admission Test (GMAT) is a standardized test that measures the aptitude and skills of candidates who aspire to pursue a postgraduate degree in business and management. The GMAT score is accepted by many prestigious business schools in India, such as the Indian Institute of Management (IIMs) and the Indian School of Business (ISB).
GMAT in India: A Popular Choice for MBA Aspirants
According to a study by the Graduate Management Admission Council (GMAC), the organization that administers the GMAT, India is the second largest country with the highest number of people with postgraduate business and management degrees, after China. India also ranks among the top three countries that take the GMAT exam every year.
The GMAT exam consists of four sections: Analytical Writing Assessment, Integrated Reasoning, Quantitative Reasoning, and Verbal Reasoning. The total score ranges from 200 to 800, with an average score of around 550. The GMAT score is valid for five years and can be used to apply to multiple business schools around the world.
IIMs: The Premier B-Schools in India
The Indian Institute of Management (IIMs) are a group of 20 public institutions that offer various programs in management education and research. The IIMs are considered to be the most prestigious and sought-after business schools in India, as well as among the best in the world.
The IIMs offer different types of programs, such as the Post Graduate Program (PGP), which is equivalent to an MBA degree, the Fellow Program in Management (FPM), which is equivalent to a PhD degree, and various executive education and certificate programs.
The admission to the IIMs is highly competitive and selective. The candidates have to appear for a national level entrance exam called the Common Admission Test (CAT), which tests their quantitative, verbal, and logical abilities. The CAT score is followed by a written ability test and a personal interview.
However, some IIMs also accept GMAT scores for admission to their programs, especially for international and executive candidates. Here are some of the top IIMs that accept GMAT scores:
- IIM Ahmedabad: Ranked as the best business school in India by various rankings, such as the NIRF Rankings 2023 and the Financial Times Global MBA Ranking 2023, IIM Ahmedabad offers a variety of courses in business strategy, corporate finance, marketing management, operations management, human resource management, economics, accounting, quantitative methods, business communication, leadership development, entrepreneurship, social enterprise management, sustainability management, and global business. The minimum GMAT entry score for IIM Ahmedabad is likely to be around 720.
- IIM Bangalore: Another top-ranked business school in India and globally, IIM Bangalore offers courses in finance, marketing, strategy, organizational behavior, economics, decision sciences, production and operations management, information systems, public policy, entrepreneurship, innovation management, and international business. The minimum GMAT entry score for IIM Bangalore is 720.
- IIM Calcutta: The oldest IIM in India and one of the few business schools in India to be accredited by all three major international accreditation agencies: AACSB, AMBA, and EQUIS. IIM Calcutta offers courses in finance and control, marketing management, operations management, strategic management, economics, human resource management, information technology, behavioral sciences, and public policy. The minimum GMAT entry score for IIM Calcutta is 697.
- IIM Lucknow: One of the most prominent business schools in India with a strong alumni network of over 20,000 professionals working in leadership positions in various industries across the globe. IIM Lucknow offers courses in business environment, decision sciences, finance and accounting, human resources management, information technology and systems, marketing, operations management, communication, and strategy. The minimum GMAT entry score for IIM Lucknow is likely to be around 710.
ISB: A Global B-School with Indian Roots
The Indian School of Business (ISB) is a private business school that was established in 2001 with the collaboration of several leading global business schools such as Wharton School of Business at University of Pennsylvania , Kellogg School of Management at Northwestern University , London Business School , MIT Sloan School of Management , etc.
ISB has two campuses: one in Hyderabad and one in Mohali. ISB offers a one-year Post Graduate Program in Management (PGP), which is equivalent to an MBA degree. ISB also offers other programs such as Post Graduate Program in Management for Senior Executives (PGPMAX), Post Graduate Program in Management for Working Professionals (PGPpro), Fellow Program in Management (FPM), Executive Fellow Program in Management (EFPM), Advanced Management Program (AMP), and various short-term executive education programs.
ISB is one of the few business schools in India that exclusively accepts GMAT scores for admission to its PGP program. The average GMAT score of the admitted candidates is around 710. ISB also considers other factors such as academic performance, work experience, leadership potential, extracurricular activities, and personal attributes.
ISB is ranked among the top business schools in the world by various rankings, such as the Financial Times Global MBA Ranking 2023, the QS Global MBA Ranking 2023, and the Economist Full-Time MBA Ranking 2023.
Other B-Schools in India that Accept GMAT Scores
Apart from the IIMs and ISB, there are many other business schools in India that accept GMAT scores for admission to their programs. Some of them are:
- SP Jain Institute of Management and Research (SPJIMR): A private business school located in Mumbai that offers a two-year Post Graduate Diploma in Management (PGDM), which is equivalent to an MBA degree. SPJIMR also offers other programs such as Post Graduate Program in Management (PGPM), Post Graduate Executive Management Program (PGEMP), Fellow Program in Management (FPM), and various executive education programs. The minimum GMAT entry score for SPJIMR is likely to be around 650.
- XLRI – Xavier School of Management: A private business school located in Jamshedpur that offers a two-year Post Graduate Diploma in Management (PGDM), which is equivalent to an MBA degree. XLRI also offers other programs such as Post Graduate Diploma in Human Resource Management (PGDHRM), Post Graduate Diploma in Business Management (PGDBM), Fellow Program in Management (FPM), Executive Fellow Program in Management (EFPM), and various executive education programs. The minimum GMAT entry score for XLRI is likely to be around 700.
- Management Development Institute (MDI): A private business school located in Gurgaon that offers a two-year Post Graduate Program in Management (PGPM), which is equivalent to an MBA degree. MDI also offers other programs such as Post Graduate Program in Human Resource Management (PGP-HRM), Post Graduate Program in International Management (PGP-IM), National Management Program (NMP), Fellow Program in Management (FPM), Executive Fellow Program in Management (EFPM), and various executive education programs. The minimum GMAT entry score for MDI is likely to be around 660.
- Indian Institute of Foreign Trade (IIFT): A public business school located in New Delhi that offers a two-year Master of Business Administration in International Business (MBA-IB). IIFT also offers other programs such as Executive Post Graduate Diploma in International Business (EPGDIB), Executive Post Graduate Diploma in International Marketing (EPGDIM), Executive Post Graduate Diploma in International Financial Strategies (EPGDIFS), Doctoral Program in Management, and various executive education programs. The minimum GMAT entry score for IIFT is likely to be around 650.
These are some of the top business schools in India that accept GMAT scores for admission to their programs. However, there are many other business schools that also accept GMAT scores, such as Narsee Monjee Institute of Management Studies (NMIMS), Symbiosis Institute of Business Management (SIBM), Great Lakes Institute of Management, etc.
The candidates who wish to pursue a postgraduate degree in business and management from these business schools should prepare well for the GMAT exam and apply with their best score. They should also research about the eligibility criteria, application process, fee structure, curriculum, placement record, and alumni network of each business school before applying.
