Another reason why you want to get a high score on the GMAT: money
I wrote previously about one reason for getting a good score on the GMAT: the possibility of a free education. The other reason is, of course, to increase your income by graduating from a top school. First, I want to caution you against chasing money merely for money's sake - that won't lead to an increase in happiness. Doing something you hate for a living will destroy your health and your sense of worth. On the other hand, doing something you love for a living is priceless. But let's assume that you, as I, would enjoy working in the post-MBA market.
Shawn Berry, a GMAT coach, makes a lengthy argument that getting into a top ranked school requires making a 700+ on the GMAT. And his reason for why you want to do that is because graduates from tops schools tend to make a lot more money that graduates from lesser schools. Keep in mind that Shawn is focusing on the traditional day-time MBA programs, not EMBA programs. Still, I think the discussion is relevant to the latter type of applicant.
Also keep in mind that Shawn is selling his services. He charges $10,000 for his personal 1-1 GMAT coaching. As such, you should validate his case, because he obviously has a personal agenda at stake. And you'll find supporting evidence if you search through the compensation stats at Financial Times. I also found that the average placement in 2001 from my chosen school, Rice, was around $122k. Not too shabby. As you know, past performance is no guarantee of future results. Good luck!
