Yesterday Harvard Business School joined the likes of Stanford GSB and MIT Sloan when it announced that its general two-year MBA program will starting accepting the GRE from applicants this fall. This move comes after the HBS 2+2 Program announced in March that it would accept both the GRE and the GMAT this year. While this won't affect your plans if you have already taken (or are about to take) the GMAT, it will potentially attract a bigger and more diverse applicant pool to Harvard's two-year MBA program.
In an HBS press release, director of admissions Dee Leopold said, "We are pleased to widen our requirements to give all MBA candidates the option of submitting results from either the GRE or GMAT exams. Since many HBS applicants are also considering graduate programs besides the MBA, there is now no need for them to take the GMAT if they have already taken the GRE. We believe that both the GMAT and the GRE meet our expectations of what a standardized test can tell us about a candidate's ability to thrive in our MBA Program."
This is consistent with the school's push (of which the HBS 2+2 Program is an important part) to find more business leaders outside of the traditional MBA program feeders, such as business-oriented college programs, investment banks, and consulting firms. It also marks another win for ETS in its push to position the GRE as a credible competitor to the GMAT in assessing MBA applicants' abilities. With a handful of top-ten schools already accepting the GRE, we expect more schools will soon follow suit.
With ETS making slow but steady progress in winning over the top business schools, it's no wonder that the Graduate Management Admission Council has started to make noise about producing a next-generation GMAT exam, due to reach the market by 2013.
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