If you want to work in finance with an advanced degree, you should know if you need to take the GMAT to get a Master’s in Finance before you begin applying to programs. The GMAT is an standardized entrance exam that must be taken by several applicants who are applying to attend Master of Business Administration programs. Whether or not you must take the exam to be considered for admissions will depend on the type of degree that you are working towards and also the institution that you would like to attend. Read on, and learn more about the GMAT requirements and whether or not you will need to sit for this exam to earn your Master’s in Finance.
Exams Depend on the Type of Advanced Degree that You Plan to Earn
There are two different types of Master’s degrees that you can earn when you are studying for a mid-level to upper-level position in finance. You can either earn a terminal master’s degree majoring in Finance, or you can take a Master of Business Administration program with a concentration in Finance. The type of exam that you take will depend on the type of degree you want to earn. You will either take the GRE or the GMAT if the admissions committee of the school you want to attend does require you to take an exam.
You will take an MA or an MS in Finance if you would like 90 percent of your coursework to be focused on advanced finance curriculum. This type of terminal degree program will teach you about theories and how to specialize in the field. You will be best suited for an MBA if you would like to become a leader in business who is knowledgeable in finance. The MBA program will only devote between 25 and 30 percent of the time to finance subjects, and the rest to other core areas in business. You will be a great generalist in business with an MBA in Finance, but you may not be considered an expert and will learn more about practice than theory.
What is the Difference Between the GMAT and the GRE?
The GMAT stands for Graduate Management Admissions Test. This is a standardized test that is given to prospective applicants who want to earn their MBA with a concentration or specialization in Finance. It tests your skills in writing, verbal, and critical thinking so that you can use the practical knowledge you learn and apply it. The GRE, which stands for Graduate Record Exam, is required when you attend a Master’s degree program in Finance, according to the Educational Testing Service. This exam will test your ability to achieve success in an advanced terminal degree program based on your personal score.
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A GMAT is not always required when you are studying for a Master’s in Finance, but if you want to earn an MBA online it may be. If you are working towards earning your Master’s degree online in Finance, you will probably need to score high on the GRE. No matter which test is required, you need to take the time to study. Familiarize yourself with the format and the content, and schedule your test date at least three months before the admissions cycle if you need to take the GMAT to get a Master’s in Finance with the school of your choice.
