Graduate Management Admission Council
Encyclopedia
The Graduate Management Admission Council (GMAC) is an international non-profit association of business schools that provides products and services to academic institutions and prospective graduate business students. The organization owns the Graduate Management Admission Test
(GMAT), a standardized exam that is widely used by graduate business administration
programs (e.g. MBA
, Master of Accountancy
, etc.) to measure quantitative and verbal skills in applicants. GMAC also serves as an information source for journalists and members of the public interested in information about management education and the role it plays in the overall economy.
GMAC is based in McLean, Virginia
—a business center in the suburbs of Washington, D.C.
In 2007, the organization opened an office in London
, its first international location. GMAC also has a representative based in Hong Kong
.
GMAC was first convened in 1953 by Educational Testing Service
(ETS) to coordinate a group of nine business schools interested in developing a standardized test for applicants to business schools. The exam ETS developed was initially known as the Admission Test for Graduate Study in Business (ATGSB). The ATGSB was renamed the Graduate Management Admission Test in 1976.
The GMAT is delivered under contract to GMAC by Pearson VUE
of Bloomington, Minnesota
. The test is developed for GMAC by ACT Inc. of Iowa City, Iowa
.
The Triple Nine Society
uses the GMAT as one of their admission tests into their society. They require a score of at least 750 for admission.
, Canada
, China
, France
, Great Britain
, India
and the United Kingdom
. In 2007, the organization embarked on an effort to increase its membership outside North America. GMAC is governed by a 16-member board of directors that includes representation from business schools and private industry.
GMAC surveys corporate recruiters, graduate business students, and business school staff and alumni to gauge their feelings about the job market and collect other data. Data from the surveys are released to the public on the organization’s Web site, gmac.com.
GMAC runs mba.com, an online portal with information about topics graduate business administration programs and the career options available to people with graduate business degrees. The website provides software to help prospective business school applicants prepare for the GMAT. It also allows people to set up an appointment to take the test at one of several hundred testing centers in nearly 100 countries.
Graduate Management Admission Test
The Graduate Management Admission Test is a computer-adaptive standardized test in mathematics and the English language for measuring aptitude to succeed academically in graduate business studies. Business schools use the test as a criterion for admission into graduate business administration...
(GMAT), a standardized exam that is widely used by graduate business administration
Business studies
Business studies is an academic subject taught at higher level in Australia, Canada, Hong Kong, India, Ireland, New Zealand, Pakistan, South Africa, Sri Lanka, Zimbabwe and the United Kingdom, as well as at university level in many countries...
programs (e.g. MBA
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
, Master of Accountancy
Master of Accountancy
Master of Accountancy , alternatively Master of Professional Accountancy or Master of Science in Accountancy , is a graduate professional degree designed to prepare students for public accounting and to provide them with the 150 credit hours required by most states before taking the...
, etc.) to measure quantitative and verbal skills in applicants. GMAC also serves as an information source for journalists and members of the public interested in information about management education and the role it plays in the overall economy.
GMAC is based in McLean, Virginia
McLean, Virginia
McLean is an unincorporated community and census-designated place in Fairfax County in Northern Virginia. The community had a total population of 48,115 as of the 2010 census....
—a business center in the suburbs of Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
In 2007, the organization opened an office in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, its first international location. GMAC also has a representative based in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
.
GMAC was first convened in 1953 by Educational Testing Service
Educational Testing Service
Educational Testing Service , founded in 1947, is the world's largest private nonprofit educational testing and assessment organization...
(ETS) to coordinate a group of nine business schools interested in developing a standardized test for applicants to business schools. The exam ETS developed was initially known as the Admission Test for Graduate Study in Business (ATGSB). The ATGSB was renamed the Graduate Management Admission Test in 1976.
The GMAT
The GMAT is today used by more than 4,750 graduate management education programs at approximately 1,900 business schools worldwide. The exam, taken more than 250,000 times per year, is designed as an objective predictor of how well a student will perform academically in the first year of a graduate business education program. The GMAT has been shown by researchers to be a reliable predictor of academic performance in businesss school, especially when used in combination with an applicant’s undergraduate grade point average.The GMAT is delivered under contract to GMAC by Pearson VUE
Pearson VUE
Pearson VUE is an electronic testing company owned by British media company Pearson PLC. Founded in 1994 by E. Clarke Porter as Virtual University Enterprises, the company now operates in 165 countries with more than 5,000 authorized test centres ....
of Bloomington, Minnesota
Bloomington, Minnesota
Bloomington is the fifth largest city in the U.S. state of Minnesota in Hennepin County. Located on the north bank of the Minnesota River above its confluence with the Mississippi River, Bloomington lies at the heart of the southern...
. The test is developed for GMAC by ACT Inc. of Iowa City, Iowa
Iowa City, Iowa
Iowa City is a city in Johnson County, State of Iowa. As of the 2010 Census, the city had a total population of about 67,862, making it the sixth-largest city in the state. Iowa City is the county seat of Johnson County and home to the University of Iowa...
.
The Triple Nine Society
Triple Nine Society
The Triple Nine Society , founded in 1978, is a voluntary association of individuals who have scored at or above the 99.9th percentile on specific IQ tests under supervised conditions, which generally correlates to an IQ of 149 or greater...
uses the GMAT as one of their admission tests into their society. They require a score of at least 750 for admission.
Governance
The Graduate Management Admission Council has 183 member schools from 22 countries, including AustraliaAustralia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, Great Britain
Great Britain
Great Britain or Britain is an island situated to the northwest of Continental Europe. It is the ninth largest island in the world, and the largest European island, as well as the largest of the British Isles...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
and the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. In 2007, the organization embarked on an effort to increase its membership outside North America. GMAC is governed by a 16-member board of directors that includes representation from business schools and private industry.
Conferences and other services
In addition to providing the GMAT, the Graduate Management Admission Council offers an array of other services to the graduate business education community. These include professional development programs and conferences for business school leaders (such as the GMAC Annual Industry Conference), search services to help students learn more about the offerings of different business schools and student preparation materials for the GMAT.GMAC surveys corporate recruiters, graduate business students, and business school staff and alumni to gauge their feelings about the job market and collect other data. Data from the surveys are released to the public on the organization’s Web site, gmac.com.
GMAC runs mba.com, an online portal with information about topics graduate business administration programs and the career options available to people with graduate business degrees. The website provides software to help prospective business school applicants prepare for the GMAT. It also allows people to set up an appointment to take the test at one of several hundred testing centers in nearly 100 countries.
See also
- Graduate Management Admission TestGraduate Management Admission TestThe Graduate Management Admission Test is a computer-adaptive standardized test in mathematics and the English language for measuring aptitude to succeed academically in graduate business studies. Business schools use the test as a criterion for admission into graduate business administration...
- Master of AccountancyMaster of AccountancyMaster of Accountancy , alternatively Master of Professional Accountancy or Master of Science in Accountancy , is a graduate professional degree designed to prepare students for public accounting and to provide them with the 150 credit hours required by most states before taking the...
- Master of Business AdministrationMaster of Business AdministrationThe Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
- Standardized TestStandardized testA standardized test is a test that is administered and scored in a consistent, or "standard", manner. Standardized tests are designed in such a way that the questions, conditions for administering, scoring procedures, and interpretations are consistent and are administered and scored in a...
External links
- Graduate Management Admission Council official Web site
- mba.com The Official GMAT Web site
- The Official GMAT Blog by the creators of the GMAT test
- Pearson VUE official Web site
- ACT official Web site