For students applying to the Fisher Specialized Master of Business – Finance (“SMF“) program, a common question is “When should I take the GRE or GMAT?” There are two things you need to be aware of to get the correct answer.
1) What deadline are you shooting for? In other words, by which date do you want to have your application be complete?
It takes at least three weeks for us to get your official scores from the test administrator. Using this info, you work backward – for example, if you want to have a complete application by December 31, you want to take the GMAT or GRE by December 7 (approximately 3 weeks prior to December 31). However …
2) Do you want to build in any “error correction” time for yourself if you do no get the score you like on your first attempt?
The advice in point #1 above is true but only if you plan to take the GMAT or GRE once. The Fisher SMF program will use your highest total GMAT/GRE scores as part of its application review process. If you want to allow for “error correction” – in other words, you want to allow yourself the option of retaking it a second time to attempt to get a higher score, you need to add (at least) another four weeks to the timeline recommended in point #1. For example, if you want to have a complete application by December 31 and want to give yourself the option of retaking it if you do not like your first score, you want to take the GMAT/GRE by early November (approximately 6 to 7 weeks prior to December 31). Important –> The test administrator requires test takers to wait at least 30 days in between each GMAT/GRE attempt.
Remember that you are welcome (and encouraged) to submit your application materials to us even if you have not already taken the GRE or GMAT. We will hold on to your application materials until we receive your official scores.
Please contact us if you have any questions about your application!