Pursuing graduate school can be quite an investment, and one significant expense to consider is the GMAT fee. These fees can be substantial and vary based on your location, so it’s important to verify the costs specific to the country where you plan to take the exam.
However, the GMAT fee is just one part of the overall financial picture. Many test-takers opt to purchase additional study materials, and it’s common for students to retake the exam to improve their scores. However, if you want to avoid retaking the exams, you can either prepare well or pay an expert to take the GMAT exams for you for guaranteed top scores.
GMAT Exam Structure
What is the GMAT exam? The GMAT is a comprehensive assessment designed to evaluate the skills necessary for success in graduate management programs. It consists of four primary sections: Analytical Writing Assessment, Integrated Reasoning, Quantitative Reasoning, and Verbal Reasoning.
Each section tests different competencies, ensuring a well-rounded evaluation of a candidate’s abilities.
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Analytical Writing Assessment (AWA)
The Analytical Writing Assessment (AWA) is the first section of the GMAT and is designed to measure critical thinking and analytical writing skills. This section consists of one essay prompt, which requires test-takers to analyze an argument and critique its reasoning.
- Time Limit: Candidates have 30 minutes to complete this section.
- Scoring: The AWA is scored on a scale of 0 to 6 in half-point increments. Essays are evaluated by both a human rater and a computer algorithm, which assesses the structure, coherence, and clarity of the argument presented. The final score is an average of the two evaluations.
The AWA section is crucial for business school admissions as it demonstrates a candidate’s ability to communicate effectively in writing, a skill essential for success in graduate programs and professional environments. Test-takers are encouraged to practice writing essays under timed conditions to enhance their performance.
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Integrated Reasoning (IR)
The Integrated Reasoning section assesses a candidate’s ability to evaluate and synthesize data from multiple sources. This section is particularly relevant in today’s data-driven business environment, where decision-making often relies on the analysis of complex information.
- Number of Questions: The IR section consists of 12 questions, which may include various formats such as graphics interpretation, table analysis, multi-source reasoning, and two-part analysis.
- Time Limit: Candidates have 30 minutes to complete this section.
- Scoring: The Integrated Reasoning section is scored on a scale of 1 to 8, with scores reported in single-digit increments.
The IR section evaluates skills such as the ability to interpret data from graphs and charts, assess the relevance of information, and make informed decisions based on quantitative data. This section is increasingly important for business schools as it reflects the analytical skills needed in modern business contexts.
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Quantitative Reasoning
The Quantitative Reasoning section measures a candidate’s mathematical skills and their ability to reason quantitatively. This section is crucial for evaluating a candidate’s proficiency in basic arithmetic, algebra, and geometry, all of which are foundational for success in business-related coursework.
- Number of Questions: The Quantitative section consists of 31 questions, divided into two types: Problem Solving and Data Sufficiency.
- Time Limit: Candidates have 62 minutes to complete this section.
- Scoring: The Quantitative section is scored on a scale of 6 to 51.
Problem Solving questions require test-takers to solve mathematical problems, while Data Sufficiency questions assess their ability to determine whether provided data is sufficient to answer a given question. This section is designed to test not only mathematical skills but also critical thinking and logical reasoning abilities.
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Verbal Reasoning
The Verbal Reasoning section evaluates a candidate’s reading comprehension, critical reasoning, and sentence correction skills. Strong verbal skills are essential for success in business school, where effective communication is key.
- Number of Questions: The Verbal section consists of 36 questions, which are divided into three categories: Reading Comprehension, Critical Reasoning, and Sentence Correction.
- Time Limit: Candidates have 65 minutes to complete this section.
- Scoring: The Verbal section is also scored on a scale of 6 to 51.
Reading Comprehension questions require candidates to read and analyze passages, while Critical Reasoning questions test their ability to evaluate arguments and draw logical conclusions.
Sentence Correction questions assess grammar and writing skills. Together, these components provide a comprehensive assessment of a candidate’s verbal abilities.
Read more: How Many Questions are on the GMAT Exam
GMAT Scoring
The GMAT scoring system is designed to provide a comprehensive evaluation of a candidate’s abilities across the various sections of the exam. Understanding how the GMAT is scored is crucial for prospective test-takers, as it can influence their preparation strategies and expectations.
- Total Score: The total GMAT score ranges from 205 to 805. This score is derived from the combined performance in the Quantitative and Verbal sections, which are each scored on a scale of 6 to 51. The average total score for test-takers is typically around 550.
- Section Scores: Quantitative and Verbal Sections
GMAT scores are usually available within three to four business days after the test. Candidates can choose to send their scores to up to five business schools at no additional cost. After the initial five schools, there is a fee for sending scores to additional institutions.
How to Register for the GMAT Exams
- Step 1: Create an Account: The first step in the registration process is to create an account on the official GMAT website, managed by the Graduate Management Admission Council (GMAC). This account will allow candidates to manage their registration, view test scores, and access preparation resources.
- Step 2: Choose a Test Date and Location: Once the account is created, candidates can select their preferred test date and location. The GMAT is offered year-round at various testing centers worldwide. It is advisable to register well in advance, as popular dates and locations can fill up quickly. Candidates should consider their preparation timeline and choose a date that allows sufficient time for study.
- Step 3: Payment: The registration fee for the GMAT is typically around $250. This fee can be paid online during the registration process using a credit card. Candidates should also be aware of additional fees for rescheduling or changing their test date, which can range from $50 to $250, depending on how close to the test date the changes are made.
- Step 4: Prepare for the Exam: After completing the registration, candidates should focus on preparing for the exam. There are numerous resources available, including official GMAT study guides, online courses, and practice tests. Many candidates find it beneficial to create a structured study plan that includes regular practice and review of all four sections of the exam.
- Step 5: Confirmation and Test Day: Once the registration and payment are complete, candidates will receive a confirmation email detailing their test date, time, and location. It is essential to review this information carefully and ensure that all details are correct. On test day, candidates should arrive at the testing center early, bring valid identification, and be prepared to follow the testing center’s rules and regulations.
GMAT Registration Fees
The registration fee for the GMAT can vary based on the testing format and location. As of 2024, the costs are as follows:
- In-Person Testing Fee: $275 (approximately INR 22,996).
- Online Testing Fee: $300 (approximately INR 25,086).
These fees are applicable globally, but candidates should be aware that additional taxes may apply depending on their country of residence. For instance, in India, the fees may be subject to local taxes, which can slightly increase the total cost.
The GMAT registration fee covers the basic cost of taking the exam, which includes access to the test and the initial score reporting to up to five business schools. It more beneficial to take your GMAT exams online.
Payment Methods
Candidates can pay the registration fee using various methods, including credit cards (Visa, MasterCard, American Express, and Discover), debit cards, money orders, and personal checks. It is advisable to use online payment methods to avoid additional charges that may apply to phone payments, which can incur an extra fee of around $10.
Additional Fees
In addition to the registration fee, candidates should be aware of several other costs that may arise during the GMAT process. Here’s a comprehensive breakdown of these additional fees:
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Rescheduling Fees
If a candidate needs to change their test date, they can do so by paying a rescheduling fee. The amount varies based on how far in advance the change is made:
- More than 60 days before the appointment: $55 for in-person testing and $60 for online testing.
- 15 to 60 days before the appointment: $110 for in-person testing and $120 for online testing.
- 14 days or less before the appointment: $165 for in-person testing and $180 for online testing.
These fees encourage candidates to plan ahead and minimize last-minute changes, which can disrupt testing schedules and affect other candidates.
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Cancellation Fees
Candidates who decide to cancel their GMAT appointment are eligible for a refund, but the amount varies depending on when the cancellation occurs:
- More than 60 days before the appointment: Refund of $110 for in-person testing and $120 for online testing.
- 15 to 60 days before the appointment: Refund of $80 for in-person testing and $90 for online testing.
- 14 days or less before the appointment: Refund of $55 for in-person testing and $60 for online testing.
Candidates who cancel within 24 hours of their appointment will forfeit the entire exam fee. This policy emphasizes the importance of making informed decisions about test readiness and scheduling.
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Score Report Fees
After taking the GMAT, candidates can send their scores to business schools. The first five score reports are included in the registration fee. However, if a candidate wishes to send additional reports, the following fees apply:
- Additional Score Report: $35 each.
This feature allows candidates to send their scores to multiple institutions, which is particularly useful for those applying to several programs. Candidates should research the schools they are interested in to ensure that they send their scores to the right institutions.
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Enhanced Score Report
Candidates can opt for an Enhanced Score Report, which provides additional insights into their performance. This report can be purchased at the time of registration for $30. It includes detailed information about how candidates performed in each section, which can be invaluable for identifying strengths and weaknesses.
This report can help candidates tailor their study plans for future attempts or for other standardized tests.
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Score Management Fees
After taking the exam, candidates may want to manage their scores:
- Cancel Score: Candidates can cancel their scores via their mba.com account for a fee of $25. This option is useful if candidates feel they did not perform well and prefer not to report the score to schools.
- Reinstate Score: If a candidate wishes to reinstate a previously canceled score, there is a fee of $50. This option allows candidates to change their minds about reporting a score after further reflection.
- AWA Essay Rescoring: If candidates want their Analytical Writing Assessment essay rescored, the fee is $45. This can be beneficial for those who believe their essay did not accurately reflect their writing abilities.
Costs for Retaking the GMAT
If a candidate is dissatisfied with their score and wishes to retake the GMAT, they will incur additional costs. Candidates should be aware of the GMAT retake costs and how many times they can take the GMAT exam.
The fee for retaking the GMAT is the same as the initial registration fee:
- Retake Fee: $275 for in-person testing and $300 for online testing.
Candidates should consider their previous performance and preparation strategies before deciding to retake the exam, as retaking can add significant costs to their overall GMAT expenses.
International Considerations
For candidates outside the United States, fees may vary slightly based on local currency exchange rates and taxes. In India, for example, the fees reflect local pricing, with the in-person test costing approximately INR 22,996 and the online test costing around INR 25,086.
Currency Fluctuations
It’s important to note that the costs in local currencies can fluctuate based on exchange rates and government regulations. Candidates should check the official GMAT website or local testing centers for the most current pricing. Additionally, candidates should be aware of any local taxes that may apply to the registration fee.
Budgeting for the GMAT
When planning to take the GMAT, candidates should consider all potential costs to create a comprehensive budget. Here’s a summary of the total potential costs:
Item |
Cost (USD) |
| In-Person Testing Fee | $275 |
| Online Testing Fee | $300 |
| Rescheduling Fee (varies by notice period) | $55 – $165 |
| Cancellation Fee (varies by notice period) | $55 – $110 refund |
| Additional Score Report | $35 each |
| Enhanced Score Report | $30 |
| Cancel Score | $25 |
| Reinstate Score | $50 |
| AWA Essay Rescoring | $45 |
Total Estimated Costs
Considering the various fees, candidates should budget for a total cost that could range from approximately $275 to over $1,000, depending on their choices regarding rescheduling, cancellations, and additional score reports.
This comprehensive budgeting is crucial for candidates to avoid unexpected expenses and ensure they are financially prepared for the entire GMAT process.
Summary of Costs
In summary, the GMAT fee structure encompasses a variety of costs that candidates should be aware of, including:
- Registration Fees: $275 for in-person testing and $300 for online testing.
- Rescheduling Fees: Ranging from $55 to $165 depending on the timing of the request.
- Cancellation Fees: Refunds vary based on how far in advance the cancellation is made.
- Score Reporting Fees: $35 for each additional score report beyond the first five.
- Enhanced Score Report: $30 for additional performance insights.
- Score Management Fees: $25 to cancel a score, $50 to reinstate a score, and $45 for AWA rescoring.
FAQs
How Hard is the GMAT?
The GMAT is considered a hard exam, with statistics indicating that only about 12% of test-takers score 700 or higher. On average, participants score around 565, which highlights the difficulty of achieving a high score. Approximately 27% of candidates score above 650, further illustrating the competitive nature of the exam.
The GMAT tests a range of skills beyond basic knowledge, including problem-solving, critical thinking, and the application of concepts in various scenarios. Test-takers often invest 100 to 120 hours in preparation over a span of two to three months to achieve their desired scores, particularly for top business school admissions.
The exam’s computer-adaptive format adjusts the difficulty of questions based on the test-taker’s performance, adding a layer of complexity to the testing experience.
How Hard is it to Get a 700 on the GMAT?
Understanding your GMAT score is important. Achieving a score of 700 on the GMAT is quite difficult, as only 12% of test-takers reach this benchmark. This score is often considered a threshold for competitive business school admissions, making it essential for candidates to prepare extensively and strategically.
How Expensive is it to Take the GMAT?
The cost of taking the GMAT can be significant. The registration fee alone is around $275, but additional expenses can arise from purchasing study materials or retaking the exam. Many candidates opt for practice tests and resources, which can add hundreds of dollars to the overall cost. Taking the GMAT multiple times is common, further increasing the financial burden.
Is 700 a Low GMAT Score?
A score of 700 is generally not considered low; in fact, it is often viewed as a competitive score for admission to many top business schools. However, the perception of whether it is low can vary based on the specific programs being targeted, as some elite institutions may expect higher scores, typically in the 720-740 range.
How Rare is a 750 GMAT?
Scoring 750 on the GMAT is quite rare, with only about 6% of test-takers achieving this score or higher. This places a score of 750 in the upper echelon of GMAT performance, making it a strong indicator of a candidate’s potential for success in a rigorous business school environment.