There are some inaccuracies posted here. All of the top schools require you to take the GMAT. Some UK schools, which were decent as far as UK reputation goes, did not specifically request it in the past. I am not sure whether that is still the case. Each school's website will post admission requirements. If you want to go to H/W/S/LBS/INSEAD etc, then you have to take it. It is only a small small part of your application though, really just a screening tool. Below a certain score you will not get in, irrespective of the rest of your application. Once you have a decent score, then the hard bit starts, which is to write decent essays and demonstrate why you should be at a top school. There are plenty of people with scores in the high 700s that are rejected from top schools because their essays are not up to scratch. Equally there are plenty of people with low scores that got in on the strength of their essays. To say that you need 740 to get into top schools is wrong. There are plenty of people at top schools with scores in the 600s, but they will have something else in their application to set them apart, such as stellar work experience or National sport etc.