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Some of my students have asked whether they should wait to take the new GRE, which comes out in August 2011 instead of taking the GMAT. This is most likely a bad idea for several reasons. One reason that I wouldn't recommend doing this is because average test scores on newly created exams are usually relatively low for several years- most likely because prep programs haven't figured out the best way to teach the new exam. Secondly, most MBAs still prefer the GMAT to the GRE. While this trend is changing somewhat, schools are still hesistant to replace the GMAT with the GRE until more data is available about how GRE (or the New GRE)scores relate to academic success in their programs. Finally, taking the GRE/new GRE might not be a good idea for some students who have weaker vocabularies. While the new GRE is going to do away with analogies, I haven't seen anything that states they're planning on changing the way they present their reading comprehension passages which tend to use more sophisticated words.