The increase in number of programs marks a 31 percent increase from the 3,800 programs that used the GMAT only five years ago.
RESTON, VA--(Marketwire - Apr 20, 2011) - The GMAT exam, the most widely used assessment for business and management programs around the world, has reached a new milestone as the number of programs accepting the exam has now exceeded 5,000 for the first time, according to the Graduate Management Admission Council (GMAC).
The increase in number of programs marks a 31 percent increase from the 3,800 programs that used the GMAT only five years ago. Much of the growth is being fueled by dramatic increases in usage by programs outside the U.S., particularly in Asia and Europe.
"The dramatic growth in programs that rely on the GMAT as a critical part of the admissions process is a strong testament to the validity, reliability and security that have been the hallmarks of the GMAT," said Dave Wilson, president and chief executive officer at GMAC. "We are meeting this increasing demand by continually expanding our extensive global network of test centers, where candidates can sit for the GMAT exam nearly any day of the year."
As GMAT usage increases across the globe, so has the number of quality schools seeking membership in GMAC and access to its extensive, customized market research and professional development programs. GMAC recently added to its prestigious list of member schools, which includes top institutions such as Harvard Business School, Stanford Graduate School of Business, University of California, Berkeley, London Business School, Wharton School, Indian School of Business, INSEAD, HKUST, Tsinghua, Peking, CEIBS, Fudan and Shanghai Jiaotong.
The addition of 17 new members since December 2010 (see list below) now brings total membership in GMAC to 200. More than seventy-five percent of the newest members are based outside the U.S., including five in Europe and six in Asia and Australia.
Innovation & Expansion
Since GMAC assumed full management and future development of the GMAT in 2006, both the exam and the organization have experienced strong, steady growth. With its test administrator and developer, Pearson VUE and ACT, respectively, GMAC has been an innovator with the GMAT exam and the use of technology. This commitment to improvement has also positioned the GMAT as a leader in test security and privacy. Among the developments:
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New "Integrated Reasoning" section of the GMAT exam to be introduced in June 2012.
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The number of GMAT test centers has grown 37 percent in the last five years, from about 400 test centers in 96 countries in 2006 to more than 550 test centers in 110 countries in 2011.
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Pioneered the use of PalmSecure, a biometric technology that ensures the identity of a test taker, making the GMAT a worldwide leader in high-stakes academic testing security.
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GMAC now has offices in London, New Delhi and Hong Kong, developing specific programs and initiatives tailored to schools and test takers in those markets.
Newest Members of GMAC
Business and management schools are flourishing around the world in markets from India to China to Europe and the USA and places in between. Many seek membership in GMAC to enhance their brands and to become part of a select group of schools that are committed to the highest standards in management education. The membership milestone is a testament to the value placed on quality management education and the global flow of intellectual capital it encourages. The 17 member schools that were admitted since December 2010 are:
Asia/Australia
Great Lakes Institute of Management (India)
Indian Institute of Management, Ahmedabad
Korea University Business School (South Korea)
NMIMS University (India) School of Business Management
SP Jain Institute of Management & Research (India)
University of Queensland (Australia) UQ Business School
Europe
Copenhagen Business School (Denmark)
Cranfield University (U.K.) School of Management
ESSEC Business School (France)
EBS Universität für Wirtschaft und Recht i. Gr.EBS Business School (Germany)
Stockholm School of Economics (Sweden)
North/Central America
Chapman University (USA) Argyros School of Business and Economics
Iowa State University (USA) College of Business
INCAE (Nicaragua)
Simon Fraser University (Canada) Segal Graduate School of Business
St. John's University (USA) Peter J. Tobin College of Business
University of St. Thomas (USA) Opus College of Business
For a full list of GMAC member institutions, please go to http://www.gmac.com/gmac/aboutus/governance/memberschools.htm
To learn more about GMAC and its array of programs and initiatives for management education, please visit www.gmac.com.