Schools that do not require students to submit GMAT scores usually have other admissions requirements, such as maintaining a certain grade point average and having several years of on-the-job experience. Many programs also require students to hold a bachelor’s or master’s degree. Some programs require students to hold a doctoral degree.
Are There Any Graduate Schools That Don’t Require GMAT Scores?
While the Graduate Management Admission Test (GMAT) is usually required for most business degree programs at the master’s level, there are many programs that do not require students to submit GMAT scores. These programs most often look for other ways to assess a student’s qualifications, such as grade point average, number of years of professional work experience and the type of work experience gained, such as account or project management. Programs that do not have GMAT requirements are generally designed for working professionals looking to advance into managerial positions.
Description of Programs
Most graduate schools that do not require students to submit GMAT scores require students to have at least a 3.0 GPA upon entry into the program. Students are also typically required to hold a bachelor’s or master’s degree from an accredited college or university. Some programs require students to hold a doctoral degree before waiving GMAT requirements. Most graduate schools also require students to have a certain amount of years of work experience prior to entry, although this may not always be the case. For example, some programs only prefer that students have certain amount of years of work experience, while others make it mandatory for students to have at least four years of on-the-job experience. Students may be required to have managerial experience as well. Some programs also waive the GMAT requirement for students who are licensed professionals. For example, students enrolling in an accountancy and taxation program may have the GMAT requirement waived if they are a licensed CPA.
Graduate school programs that don’t require GMAT scores can be completed on campus, online or by satellite, depending upon the school. On-campus programs are traditional in nature and may take about three or four years to complete. Online programs typically can be completed in about 18 months and students can attend classes anytime and anywhere. Programs that allow students to take courses by satellite generally only make core and foundation courses available. Electives usually need to be completed on campus.
Coursework in these programs is no different than in programs that do require students to submit GMAT scores. Typical course topics include organization, leadership, business strategy, macroeconomics, microeconomics, marketing, accounting, finance and global business.
Where can I Find the Best Graduate School for the Program I Want?
Deciding to go to graduate school may be one of the biggest decisions a person can make. Not only do graduate programs take up to six or even seven years to complete, they also costs a great deal of money. Princeton University charges $35,340 per year for tuition and fees, according to U.S. News & World Report (http://www.usnews.com). Tuition and fees at Harvard University (http://www.college.harvard.edu) cost $37,012 per year.
In order to get the most for their money, prospective graduate students try to find the best graduate schools possible for their disciplines. Because school ratings vary from one resource to another, it often helps if students explore potential schools individually, rather than rely upon established lists.
Resources for Finding the Best Graduate School
Consider the reputation of the school. U.S. News & World Reports (http://www.usnews.com) ranks the best schools in the United State. Use their report to get more information on each school. Using the Department of Education’s College Navigator (http://www.nces.ed.gov) to research graduate schools is a good way to learn more about different graduate schools and their curriculum. The Princeton Review ( http://www.princetonreview.com) also ranks colleges and grad schools. The information gathered by the Princeton Review is collected from students at various schools, who rate colleges based on a variety of criteria.
Students considering graduate school should have a clear sense of what career path they wish to pursue. Visiting the school’s site and reviewing the curriculum can help a student make an educated choice. Using graduate schools in accounting as an example, reveals one college has coursework in financial statement preparation, analysis auditing and fraud detection. A comparable doctoral degree program in accounting at another university lists coursework in microeconomics, quantitative methods and an intro to accounting.
Average Starting Salary for a Masters Degree Graduate
Higher degrees of education tend to lead to higher salaries. The average starting salary for those holding a master’s degree will depend on the field of study and the career chosen, among other factors.
What Is the Starting Salary for Master’s Degree Graduates?
The starting salary for master’s degree graduates will vary a great deal depending upon several factors, including degree earned and profession entered. For example, a Master of Business Administration (MBA) graduate will typically earn more than a Master’s of Social Work (MSW) graduate, even though they both hold a master’s degree.
Salaries for master’s degree graduates will also vary by region. For example, salaries in the northeastern U.S. tend to be higher than salaries in the mid-west due to the higher cost of living there.
Median Starting Salary for a non-MBA Degree
According to PayScale.com in June 2010, the most popular jobs for master’s graduates with non-MBA degrees include social worker, school teacher, physical therapist and software engineer. Below are the median salaries for those who have four years or less in experience.
|Job||Less than one year experience||1-4 years experience|
|Social Worker||$31,222 – $42,193||$33,291 – $44,774|
|Licensed Clinical Social Worker||$30,125 – $40,968||$36,326 – $48,426|
|Elementary School Teacher||$20,084 – $39,178||$30,550 – $41,338|
|High School Teacher||$30,300 – $41,803||$32,518 – $43,846|
|Sr. Software Engineer||$71,226 – $94,365||$61,270 – $88,008|
|Physical Therapist||$50,937 – $60,996||$53,135 – $64,727|
|Executive Director, Non-Profit Organization||$34,017 – $54,505||$35,453 – $60,297|
Median Starting Salary for an MBA Degree
Those with MBA degrees hold jobs in financial, management and marketing positions. PayScale.com lists the jobs below and corresponding salaries for MBA graduates with less than four years experience.
|Job||Less than one year experience||1-4 years experience|
|Financial Controller||$39,670 – $64,562||$46,345 – $72,195|
|Senior Financial Analyst||$48,729 – $77,902||$55,000 – $72,669|
|IT Project Manager||$41,062 – $60,899||$49,527 – $74,599|
|Chief Financial Officer||$50,565 – 106,432||$54,907 – $106,464|
|Financial Analyst||$39,248 – $52,431||$43,054 – 58,122|
|Chief Executive Officer||$68,047 – $151,921||$61,300 – $150,297|
|Marketing Director||$30,635 – $49,111||$34,826 – $58,935|