Wow!!! Thanks for letting us know.
I have heard that Stanford has been accepting GRE for a while. I did not know that MIT Sloan also accepted.
I also heard that the consortium that produces the GMAT is under a lot of pressure to crack down on schools like Stanford that are undermining the monopoly.
On the one hand, the $140 fee for the GRE v/s the $250 for the GMAT would tend to tip the balance in favour of the GRE.
On the other hand, IIRC, the GRE involves memorizing tons of words that may not be everybody's cup of tea.
On the 3rd hand () the GRE IS easier than the GMAT.
If more and more schools adopt the GRE acceptance, the GMAT could lose numbers.
A few schools already do accept GRE score - Stanford and Queens in Canada among others.
Straight from the HBS MBA Blog
GMAT and GRE
Date:May 18, 2009
Beginning with the class of 2012, HBS will accept both GMAT and GRE results. We think that both tests will provide adequate metrics of what a standardized test can tell us about a candidate. It will take a while for us to do a complete update of every reference to these tests on our website in the meantime, please accept this as official notification of this change.
Link: Read the Director's Blog - MBA - Harvard Business School
How soon before other schools start following?? 😃