GMAT exam has its own specific merits for the examinees but not only from the point of view of admissions but also from the perspective of employment at a later stage.
USE IN EMPLOYMENT
“GMAT is not meaningless after admission to a MBA program.”The GMAT score is taken into consideration by various companies.Investment banks being the major example. Other financial services firms do it as well. Other industries that emphasize analytical skills expect high GMAT scores as well.
It is important to note that many of the ultra elites have some form of grade nondisclosure. Accordingly, the last information that these firms have about your academic ability- your college grades and GMAT score –becomes very imperative.
Another factor to keep in mind is that despite its many flaws, GMAT is the only common experience shared across (virtually) all GMAT applicants. Thus, it makes some sense for firms to be interested in how you performed on the only shared evaluation with students from other schools.
USED FOR ADMISSIONS
If one is applying to not so high ranked MBA program, GMAT score is of prime importance. In such cases if your GMAT score is higher than the mean score as demanded by the university, then the chances of admission are high.Of course you need to fulfill the requirements at the undergraduate level as well.
When a person is applying for a very high ranked MBA program, then his academic skills and background also matters with GMAT score while his selection criteria is scrutinized. However GMAT scores still matter.
COUNSELLING & GUIDANCE
GMAT scores can be used for counseling further students as to how to go for this exam in future and how relevant these scores can be.
Also a layman can be guided as per the verbal and quantitative score as to how the exam actually goes.
PROVIDES CONSISTENT MEASURE
The applicants come from different countries, cultures, academic backgrounds, and levels of work experience. Using the GMAT exam gives admission professionals one element of the application that is a consistent measure.
Even for employers a consistent measure is received in the form of GMAT score to assess the capabilities of candidates at a similar basis.
FREE PARTICIPATION IN VSS
When you use the GMAT® in your program, you can participate in the Validity Study Service (VSS) at no charge. The VSS allows you to study the statistical relationship among GMAT® scores, other admissions criteria, and academic success in your program.
A validity study helps to ensure that you are making the best admission decisions and provides a specific, fact-based rationale in the event that applicants, faculty, or administrators have questions about how you made your admission decisions.
IMPORTANCE OF GMAT SCORE
The importance to the GMAT score that some of the best institutes in the world attach, has made it a very important standardized test and therefore students wish to leave no stone unturned in order to make their GMAT preparation perfect.
Many students take various GMAT coaching classes and online GMAT tutorials apart from doing self-study to perform well in the exam. However, what would matter most is the determination and motivation of the candidates.
To sum it up, your GMAT score can just qualify you for admission if you are applying to a top program, whereas it can get you an admission if you are not applying to the ranked programs. In either case, a high score can work to your advantage.