If you’re thinking about going to business school, you have multiple options in terms of which entrance exam to take, but nowadays, you may also have the option not to take any exam at all. That might seem like a no-brainer decision—after all, who wants* to take a standardized test? But it turns out that there are still good reasons for some people to choose to take the GMAT, even when their target schools don’t require them to do so. The question is just whether any of those reasons apply to you.

(*Cough. Besides me and my colleagues…)

First, do all of your target schools have either test waivers available or test-optional policies in place? If some of your schools do require an exam, and you don’t want to take those schools off of your list, then sharpen your pencil and get ready to study.

If, though, all of your desired schools really do allow you to make this choice, now we’ve got some analysis to do.

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