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Updated on 10th March, 2023 , 5 min read
The Graduate Management Admission Council (GMAC) administers the GMAT 2023, which stands for Graduate Management Aptitude Test (GMAT). It is a national level examination aimed at admitting qualified candidates to MBA programs offered by various institutions in India as well as foreign universities.
The GMAT Exam is the most widely accepted exam for MBA admissions around the world. No other exam has as broad acceptance as the GMAT; according to the GMAC, 9 out of every 10 MBA enrollments are made using the GMAT score. Furthermore, over 2,300 schools accept GMAT scores for admission. In addition, the GMAT Exam is administered at 650 testing centers in 114 countries.
|
Exam name |
GMAT (Graduate Management Admission Test) |
|
Exam Type |
Universal Screening Test |
|
Organized by |
GMAC (Graduate Management Admission Council) |
|
Application form |
Online |
|
Exam mode |
Online |
Registration for the GMAT exam is open throughout the year. As a result, you can choose a date that is convenient for you and take the exam at any time of year. A step-by-step guide to registering for the GMAT is provided below.
In India, the exam registration fee is approximately INR 20,000. However, there are additional costs in addition to the registration fees. The total cost that you may have to incur is broken down below.
|
Fee Category |
Fee Amount |
|
GMAT Registration Fee |
INR 20,000 |
|
Enhanced Score Report |
INR 2,000 |
|
Score Cancellation Fee |
INR 2,000 |
|
Additional Score Report |
INR 3,000 |
|
Rescoring For AWA Essay |
INR 3,000 |
|
Rescheduling Fee |
INR 4,000 (60 Days Before the Appointment)— INR 8,000 (15-60 Days Before the Appointment)— INR 11,000 (14 Days Before the Appointment) |
|
Cancellation Fee |
INR 8,000 Refund (60 Days Before the Appointment)—INR 6,000 Refund (15-60 Days Before the Appointment)—INR 4,000 Refund (14 Days Before the Appointment) |
Any business school will not accept your self-reported GMAT score if you apply. You must request that GMAC send your GMAT score report to you. If you take the test at a testing center, you can select up to five programs to which your results will be sent. The USD 275 GMAT exam fee includes these five score reports. If you want to send additional score reports later, you can do so for US $35 per report.
|
Time |
Test Centre GMAT |
Online GMAT |
|
More than 60 days prior to the appointment |
$165 ($110 refund) |
$155 ($120 refund) |
|
15 to 60 days prior to the appointment |
$195 ($80 refund) |
$185 ($90 refund) |
|
1 to 14 days prior to the appointment |
$220 ($55 refund) |
$215 ($60 refund) |
|
Time |
Test Centre GMAT |
Online GMAT |
|
More than 60 days prior to the appointment |
$55 |
$60 |
|
15 to 60 days prior to the appointment |
$110 |
$120 |
|
1 to 14 days prior to the appointment |
$165 |
$180 |
Following the GMAT exam at the testing center, you can order additional score reports for US$ 35 per report. The Enhanced Score Report is available for $30 USD. This enhanced score report analyzes your performance in detail and can help you understand your accuracy in different question categories, strong and weak areas, and pacing. ESR is not an option if you take the GMAT online.
However, there are a few things to keep in mind:
Fee waivers are granted by some colleges and universities based on criteria such as academic performance, financial situation, and so on. To be eligible for the fee waiver, you must submit a request to the admission committee of the business schools to which you are applying. This can be accomplished through the college's website or by contacting them directly. However, admission policies are subject to change. As a result, before submitting applications for fee waivers, visit the GMAT official website of the colleges of your choice.
If you're looking for colleges that offer fee waivers, here's a list of the top ten MBA schools that have partially or completely waived their application fees.
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The GMAT fee will range between $850 and $1,300. This price includes the $275 GMAT registration fee in 2023.
The GMAT registration fee is the same everywhere, $275, which is roughly equal to INR 22,000 based on the exchange rate of 1 USD = 74 INR.
In India, the gmat fee is US$275, which is approximately Rs. 21,076. However, the price may vary due to fluctuations in foreign currency exchange rates (Rupee-Dollar Value).
When registering for the GMAT exam online, the most common method of payment is by credit or debit card. Candidates should keep the following points in mind when paying for the GMAT exam online: Only Visa, American Express, Mastercard, and Discover Network Cards are accepted by GMAC.
The GMAT Exam fees are high because additional services such as rescheduling, cancellation, ESR, and additional score reports are charged separately
Every year, you can assist economically disadvantaged test takers by applying for up to ten GMAT fee waivers. GMAT Fee Waivers assist schools such as yours in covering the cost of the GMAT exam for candidates.
The overall difficulty level of the CAT is higher than that of the GMAT because the syllabus pattern is not well defined. As a result, you need more time to prepare for the CAT, whereas it is possible to score 700+ on the GMAT with just a few days of dedicated preparation.
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