The GMAT Exam is conducted to test international students aspiring to pursue graduate management education. Developed by the GMAC (Graduate Management Admission Council), the GMAT is a standardised test recognised globally by business schools worldwide. This test assesses your skills and competency for higher education in a business and management field.
From assessing analytical writing skills to quantitative reasoning and verbal proficiency, each section of the GMAT is designed to test your potential. One of the major aspects of appearing for this test is the GMAT exam fees. There are a lot of GMAT test costs involved while registering for the GMAT Exam as an international student.
To learn more about this, continue reading our guide!
Understanding GMAT Exam 2024
Up until January 2024, the GMAT exam was conducted in a different format. However, starting this year, the GMAC has discontinued the old format and introduced the new GMAT Focus Edition. It is designed to be flexible, efficient and detailed. Here are some of the major changes in the GMAT Focus Edition:
- The exam duration is 52 minutes shorter.
- The number of questions has been reduced from 80 to 64.
- There has been a sectional reduction in Integrated Reasoning and Essay Writing.
- A new section called Data Insights has been added.
The table below comprises an at-a-glance summary of the GMAT Focus Edition format:
| Section | Duration | Number of Questions | Type of Questions |
| Quantitative | 45 minutes | 21 | Problem-solving: Algebra and arithmetic-based |
| Verbal | 45 minutes | 23 | Reading comprehension, critical reasoning |
| Data Insights | 45 minutes | 20 | Data sufficiency, multi-source reasoning, table analysis, graphics interpretation, two-part analysis |
Although no eligibility criteria are set for the GMAT Exam, candidates applying to a master’s business course typically write this test. Also, remember to register only if your preferred university requires it since several institutions do not have GMAT as a necessary entry requirement.
Candidates must be at least 18 years old. Those between 13 and 17 years old must have a written consent letter from their parents or guardians. Additionally, no work experience is required.
GMAT Exam Fees In 2024
Let’s look at the GMAT Fees for international candidates registering in 2024. Because the GMAT cost could have various connotations, we explore this aspect of finances by breaking it down into different sections.
GMAT Exam Fees For Registration
GMAT Exam Fees differ depending on whether you deliver it online or at a test centre. Moreover, the fees are set in USD. Thus, the amount in INR for Indian applicants may vary depending on the current conversion rate. Refer to the following table for the GMAT Exam fees.
GMAT Exam Fees For Cancelling Or Rescheduling
Sometimes, candidates must cancel or reschedule their tests because of unavoidable circumstances. Fortunately, the GMAT exam has a provision for both. However, you must pay an additional fee for the same. If you cancel too close to the exam, you incur higher costs. On the other hand, if you cancel with ample time before the exam, you can expect a significant refund. Look at the following table for a detailed explanation:
| GMAT Price for desired actions | Timeline | Delivered Online (in USD) | Delivered Online (in INR) | Delivered at a test centre (in USD) | Delivered at a test centre (in INR) |
| GMAT Exam Rescheduling | 60+ days before the test | USD 60 | INR 5,008 | USD 55 | INR 4,591 |
| 15 to 60 days before the test date | USD 120 | INR 10,017 | USD 110 | INR 9,182 | |
| Less than 15 days before the test date | USD 180 | INR 6,678 | USD 165 | INR 13,774 | |
| GMAT Exam Cancelling | 60+ days before the test | USD 120 refund | INR 10,017 | USD 110 refund | INR 9,182 |
| 15 to 60 days before the test date | USD 90 refund | INR 7,513 | USD 80 refund | INR 6,678 | |
| Less than 15 days before the test date | USD 60 refund | INR 5,008 | USD 55 refund | INR 4,591 |
GMAT Exam Fees: Additional Costs
Whether it is asking for a report or getting an enhanced scorecard, you might be required to incur several other costs when looking at the GMAT Exam fees. Consider the following table that elaborates on these additional costs:
| Action | Delivered Online (in USD) | Delivered Online (in INR) | Delivered at a test centre (in USD) | Delivered at a test centre (in INR) |
| Enhanced Score Report to be purchased at registration | Not available | Not available | USD 30 | INR 2,504 |
| Additional Score Report | USD 35 each | INR 2,921 | USD 35 each | INR 2,921 |
| Reinstate score | Not available | Not available | USD 50 | INR 4,173 |
| AWA Essay Rescoring | USD 45 | INR 3,756 | USD 45 | INR 3,756 |
GMAT Exam Fees In India: Accepted Modes Of Payment
Another aspect to keep in mind is the available modes of payment. You can avail of various options and convenient payment methods to pay the GMAT Exam fees. You can pay using a Visa, Mastercard, American Express, and Discover Network Card. Remember that the appointment will be cancelled automatically if your card declines. If you try to pay the fees incorrectly, you may be banned from taking the GMAT or applying for more scorecards.
How To Register For The GMAT?
You might be wondering how to register for the GMAT exam. Let’s look at the registration process for the GMAT. It’s a simple process that candidates can complete online. Here’s how:
- Visit the official GMAT website at MBA.com and click on “Register” to create your account.
- Explore your options and determine whether you wish to take the exam online or at a test centre.
- Enter your details, like name, contact information, and educational background.
- Choose your preferred exam date and time from the available options.
- Pay the registration GMAT exam cost using a credit or debit card.
- Once registered, you’ll receive confirmation details and access to study resources on MBA.com.
- Prepare for your exam!
Tips To Prepare For Your GMAT Exam!
To aid your preparation, we have listed some of the top tips and advice that you can exercise. Take a look and prepare well!
- Familiarise yourself with the structure and format of the GMAT Focus Edition exam, and understand the types of questions and timing for each section.
- Begin your preparation as soon as possible so you have sufficient time for practice and review.
- Utilise the official GMAT study materials and resources provided on MBA.com, including practice tests, sample questions, and study guides.
- Identify your weaker areas and dedicate more time to improving them through targeted study and practice.
- Schedule regular study sessions and practice tests to be consistent with the exam format and structure.
- Practice time management strategies to ensure that you can complete each section within the allocated time.
- Review your performance and analyse where you can improve after each practice session.
- Focus on understanding mistakes and learning from them.
Best Reference Guides For GMAT Preparation
Here are some of the best guides you can use to aid your preparation for the GMAT:
- GMAT Official Guide
- GMAT Official Advanced Questions
- Manhattan Prep’s ‘All the GMAT’
- Kaplan GMAT Prep Plus
- Princeton Review’s “Premium Prep”
- Official Guide Quantitative Review
- Nova’s GMAT Math Prep Course
- Jeff Sackman’s Total GMAT Math
- Official Guide Verbal Review
- Power scores GMAT Critical Reasoning Bible
- Manhattan Prep’s GMAT Strategy Guide
FAQs
Q1. What is the total cost of the GMAT exam?
Ans: For Indian students, the GMAT application fee is USD 275 for an exam delivered at the test centre and USD 300 for an online exam.
Q2. Why is the GMAT fee so high?
Ans: Since the GMAT fees are designed in the USA, they are relatively high for Indian students.
Q3. Is 700 a good GMAT score?
Ans: Typically, a score between 700 and 740 is a good GMAT score to get you admission to your desired university.
Q4. Is GMAT sufficient for MBA?
Ans: GMAT scores may be compulsory for certain universities as part of the entry requirements. However, writing the GMAT is wise as it may help you get scholarships and fellowships for your preferred MBA courses.
Q5. Is there a negative marking in the GMAT?
Ans: The GMAT exam does not have any negative markings.
Thank you for reading our guide to GMAT Exam Fees! Let us know your doubts or queries in the comments section below! If you found this blog helpful, find some others on our website:
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I have done Bachelor’s in Culinary Arts from India and completed my graduation in the year 2022 .I am 22 years old. After graduation, I have done 1 year paid internship from USA .Now, I would like to take occupational experience and learn culinary skills and also do masters in Culinary arts.How can I find the college n best course / country where I can persue studying further