MBA Center Global 
Applications to MBA programs are increasing, and one of the main reasons is that many business schools have waived test requirements for admission since the coronavirus pandemic began in March 2020. The number of GMAT tests taken in the United States has reached an all-time low.
For years, many schools have used GMAT test registrants to populate their databases due to the test's reputation and status as a key gatekeeper for prospective students. Due to the pandemic and recent market shifts, the GMAT and its list of registrants are declining.
The number of GMAT takers is no longer a good predictor of the application process!
While GMAT test volumes was once a leading predictor of upcoming MBA application volume, this is no longer the case because so many business schools have gone test-optional or now accept a broader range of standardized tests, including those for law and medical schools. More admissions experts are willing to waive tests for qualified candidates who can demonstrate merit through other aspects of their application.
The explosion in online business degree programs hasn't helped either. The vast majority of these programs do not require a GMAT or GRE for admission, and some express their belief that the test reflects racial disparities and perpetuates inequity.
According to the Graduate Management Admission Council (GMAC), 173,176 GMAT exams were taken by prospective business school students worldwide in the testing year 2020, which ran from July 1, 2019, to June 30, 2020. These examinees submitted 338,768 score reports to graduate-level management programs around the world.
Also read: GMAT Scores Soaring at Top BSchools
Summary
What is the importance of the GMAT exam for MBA Admissions? The GMAT exam is used and trusted by business schools to make admission decisions that assist you to stand out from the crowd during the admissions process. It is the most widely used and dependable predictor of academic success in MBA and other graduate business degree programs.
Top companies are known to request that applicants include their GMAT scores in their applications. Aside from on-site interviews, recruiters use GMAT scores to narrow down the candidates they meet during campus interviews. The results are also used to select candidates for internships!
