The GMAT exam is an important part of your management journey. So, if you are planning to take the GMAT, it is imperative that you know all about the exam and one of the most important things to be aware of is the GMAT exam fees. Through the course of this article, we’ll tell you what the cost of the GMAT exam is, how much the GMAT fee in India is, what the different modes of payments are, etc. So keep reading!
About the GMAT Exam
The Graduate Management Admission Test, commonly known as GMAT is a global level, computer-adaptive entrance test that is required for admission to business schools around the world. The test is designed to assess your analytical writing, critical thinking, and logical reasoning skills. Every year, a large number of students as well as working professionals appear for this competitive exam. So, if you want admissions to the top colleges, you need to clear the GMAT exam with a stellar score, 800 being the highest score.
How to Register for the GMAT Exam?
The GMAT exam registrations remain open throughout the year. Hence, you can select a date that is convenient for you and take the exam anytime during the year. Given below is a step-by-step guide on how to register for the GMAT test.
- Create an account – Create an account on mba.com, the official website of the GMAT. For this, you can click on the sign-up button located in the top right corner of the page. Once you click on it, you’ll be redirected to a new page, where you have to fill in your basic information such as name, email address, etc.
- Start the registration process- After creating an account, you can start your registration process. For this, you have to click on the exams button at the top left of the page. When you click on it, you’ll be redirected to a new page. Here, you have to enter all your personal information such as your phone number, address, country of residence, etc.
- Fill in the optional information- Once you fill in all your personal information, you need to enter details of academic grades, work experience, etc. However, you can choose to skip this step.
- Verify your profile – Once you complete filling all the above information, your request for registration will be sent to the account processing team of GMAC. Your registration request will be processed within two business days.
- Select a date and schedule your exam – Once your request is verified, you can schedule a slot for the exam. You have the option to select up to three test centers at your preferred location. You can also choose a date and time that is convenient for you. If a test center isn’t available to you due to the COVID-19 pandemic, you can take the online GMAT exam from the comfort of your home.
- Pay the registration fee – Complete the registration process by paying a fee of $250 or INR 18,300 approximately.
The GMAT Exam Fees in India
The registration fee for the GMAT exam is $250 (for most countries) or INR 18500 in India. However, a lot of other costs are associated with the GMAT apart from this registration fee. The image below will give you an overview of the costs to take the GMAT exam.
The GMAT exam fee varies from country to country. The online at-home version of GMAT costs $250 everywhere. Moreover, the total cost of the GMAT is different from the registration fee, as you also might have to pay some extra charges for rescheduling and canceling the exam (if the need be). Along with this, you also have to shell out some extra money if you want additional score reports.
The GMAT test cost in India is also $250, and you are required to pay the fee in USD. However, this figure might vary in INR depending on the exchange rate at the time of registration. Given below is the breakup of the total GMAT cost that you might have to bear:
| Fee Category | Fee Amount |
| GMAT Registration Fee | $250 |
| Enhanced Score Report | $30 |
| Score Cancellation Fee After Leaving the Test Centre | $25 |
| Additional Score Report | $35 Each |
| Rescoring For AWA Essay | $45 |
| Rescheduling Fee | $50 (60 Days Before the Appointment)— $100 (15-60 Days Before the Appointment)— $140 (14 Days Before the Appointment) |
| Cancellation Fee | $100 Refund (60 Days Before the Appointment)—$75 Refund (15-60 Days Before the Appointment)—$50 Refund (14 Days Before the Appointment) |
GMAT Exam Fee in the US
The GMAT exam cost in the US is similar to the test fees in India, except for the registration fee, which is slightly higher. The table below will give you an overview of GMAT prices in the US.
| Fee Category | Fee Amount |
| GMAT Registration Fee | $275 |
| Enhanced Score Report | $30 |
| Score Cancellation Fee After Leaving The Test Centre | $25 |
| Additional Score Report | $35 Each |
| Rescoring For AWA Essay | $45 |
| Rescheduling Fee | $50 (60 Days Before the Appointment)— $100 (15-60 Days Before the Appointment)— $140 (14 Days Before the Appointment) |
| Cancellation Fee | $100 Refund (60 Days Before The Appointment)—$75 Refund (15-60 Days Before the Appointment)—$50 Refund (14 Days Before the Appointment) |
How Much Does the GMAT Exam Cost in the UK?
The cost of the GMAT in the UK is £225 and has to be paid in British Pound Sterling or US Dollars. Let us have a look at the category wise breakdown of the GMAT exam prices in the UK.
| Fee Category | Fee Amount |
| GMAT Registration Fee | £225 |
| Enhanced Score Report | £24 |
| Score Cancellation Fee After Leaving The Test Centre | $25 |
| Additional Score Report | $35 Each |
| Rescoring For AWA Essay | $45 |
| Rescheduling Fee | £45 (60 Days Before the Appointment)— £85 (15-60 Days Before the Appointment)— £125 (14 Days Before the Appointment) |
| Cancellation Fee | £85 Refund (60 Days Before the Appointment)— £70 Refund (15-60 Days Before the Appointment)—£45 Refund (14 Days Before the Appointment) |
Top Colleges Offering GMAT Fee Waivers
Some colleges and universities grant fee waivers for the students based on certain criteria like academic performance, financial condition, etc. To be eligible for the fee waiver, you have to send a request to the admission committee of the B-schools you are applying to. You can do this through the college website or can contact them directly. However, the admission policies can change over time. Hence, go through the GMAT official website of the colleges of your choice before sending out the applications for the fee waiver.
If you are looking for colleges that offer fee waivers, then given below is the list of top 10 MBA colleges that waived off their application fees partially or completely.
- University of Manchester – Alliance Manchester Business School
- The University of Texas at Austin McCombs School of Business
- Ohio State University Fisher School of Business
- Yale School of Management
- Vanderbilt University Owen Graduate School of Management
- University of Rochester Simon Business School
- University of Iowa: Tippie School of Business
- The University of St. Gallen MBA
- Michigan State University-Eli Broad College of Business
- Georgetown University McDonough School of Business
Mode of Payment for the GMAT Exam
If you are planning to register for the GMAT exam through the online mode, the most common form of payment is a Credit or Debit Card. However, when considering paying the GMAT test cost online, keep the following points in mind.
- GMAC accepts Visa, American Express, Mastercard, and Discover Network Cards.
- If any of your cards are declined, your appointment will be canceled automatically, post which you have to schedule another test slot with a valid payment.
- Your registration will be canceled if you use any fraudulent card. Besides, your previous GMAT scores may be canceled, if any. GMAC will also inform the law authorities and b-schools regarding the same.
If you have mailed a registration form (paper form), you can pay the GMAT test fee through a cashier’s cheque, money order, or a personal cheque. When paying the GMAT exam fee by cheque or money order, consider the following points:
- The payment must be done in US Dollars and must be payable to Pearson VUE-GMAT.
- You must not list the postdate, but the current date.
- The cheque should have your signature.
For detailed information regarding the modes of payment, you can visit the official website of the GMAT.
The GMAT exam is your ticket into the business school of your choice. Hence, it’s important you prepare thoroughly for it. For this, you have to be well-acquainted with the exam details first. This begins with knowing what it costs to take the GMAT exam. After all, you will be paying a hefty GMAT Exam fee, hence, make sure the money you spend doesn’t go in vain.
FAQs
- How much does the GMAT exam cost in India?
The GMAT test cost in India is $250, which is approximately 18500 INR. However, the cost might vary based on the changes in the foreign exchange rates (Rupee – Dollar Value).
- How can I register for the GMAT exam?
You have to create an account on mba.com, the official website of GMAT to register for the GMAT exam, or send an application via mail, fax, or phone. For more information click here.
- Can I reschedule the exam date?
Yes, you can reschedule the exam date. However the GMAC charges a certain amount for that. $50 (60 Days Before the Appointment)— $100 (15-60 Days Before the Appointment)— $140 (14 Days Before the Appointment). (These might vary depending from country to country).