The GMAT is an important part of applying to business school, but it is one of many dimensions admissions committees will look at. To a greater degree than law school or medical school, the business school application puts a very large premium on the holistic “story” of each applicant. For example, a sliding scale of GPA vs. LSAT score, adjusted for undergraduate school and major, essentially determines your law school admissions chances). However, while a 90th percentile GMAT score is very helpful in getting into a top 20 business school, a poor story can really hurt your chances. On the other hand, a low GMAT score with a strong story can and does frequently result in admissions offers.