Many people today are looking to obtain an MBA, either to further their career or to just accomplish a long-term goal. However not everyone is excited about or prepared for the admission requirements of many B-Schools. Along with typical transcript, essay and referral requirements, most MBA programs require that you take a standardized test called the Graduate Management Assessment Test, more commonly known as the GMAT.
This test is meant to serve as a barometer to measure the knowledge you gained during your undergraduate studies and to compliment the other requirements mentioned above. For even the most qualified applicant this test is a challenge especially when you decide to return to school for your graduate degree many years after your undergraduate commencement ceremony. Many college goers complete their bachelor's degree and go straight into the workforce, not considering a second round with the collegiate world until they have reached a ceiling in their career. For these individuals taking the GMAT can be a daunting task.
For most, several months of studying and multiples attempts (meaning multiple test fees) are required to get a decent score that will rank high enough on the GMAT percentile to gain acceptance to the university they choose. Not being able to gain a 750 on the GMAT however does not mean that you are not qualified for or prepared for an MBA program. Many people are simply not great test takers specifically when it comes to standardized testing. This doesn't mean that they aren't able to go into the boardroom and present ideas or close business deals.
To the contrary many MBA applicants who've been in the workforce for several years have gained far more experience than the average undergraduate student with a freshly pressed cap & gown and a couple internships under their belt. For this reason many B-schools have waived the GMAT admission requirement for individuals with work experience, an impressionable G.P.A and a few good references. Although most schools that waive the GMAT are not a top tier schools, there are several that have great rankings, valid accreditations and are well known. There are several schools that waive this prerequisite that have good ranking and accreditation.
It is my recommendation that you make a list of schools that you are interested in and make a call to the admissions office to find out if they are willing to accept anything in the place of the GMAT. Like I said earlier the GMAT is meant to compliment the other requirements. A killer recommendation letter from your boss or even the CEO of your company could go a long way in the admissions process.
If you've exhausted your college wish list and come up empty you may want to start contacting schools that are known to waive the GMAT to verify that they meet your needs. You should have a list of questions like "Does your program offer any concentrations?" or "What accreditation(s) does your school hold for the MBA program?" The latter is especially important for individuals who are seeking a license or certification, as some of these programs require that the college you attended hold a specific accreditation.