Want to know about GMAT exam fees? The Graduate Management Admission Test (GMAT) is a pivotal entry requirement accepted by over 2,300 MBA programs globally. With India being one of the largest talent pipelines to global B-schools, close to 60,000 candidates appear for the GMAT annually from Indian test centers.
As you embark on your GMAT prep journey, it is vital to understand the associated costs so you can plan accordingly. This blog analyzes all key facets of GMAT fees in India with insights on registration, rescheduling policies, fee waivers and more!
GMAT Registration Costs
The Graduate Management Admission Test (GMAT) assesses analytical abilities across quantitative and verbal reasoning sections. It evaluates basic math, grammar, reading, and critical thinking skills essential for graduate-level academics.
The GMAT provides admissions committees with a standardized measure of applicants’ general academic promise.
The GMAT Focus Edition is an updated exam format that emphasizes higher-order reasoning and data interpretation. This revision aims to align evaluations with the evolving skill sets valued in today’s data-driven business landscape.
The GMAT Focus Edition became available in November 2023. The current exam content will remain accessible until January 31, 2024.
Students already preparing for the longstanding GMAT need not start over as the underlying abilities assessed are similar. Practicing some additional data sufficiency and real-world statistics questions can help adapt to the updated format.
The GMAT tests-core thinking abilities applicable not just in business school but also in daily decision-making. Honing reading comprehension, workflow analysis, data evaluation, and other foundational skills breeds success on both existing and new GMAT test versions.
While the GMAT Focus Edition updates some content, it still evaluates broad analytical skills for management program readiness and career success. With some adjustments to address reasoning around statistics and data interpretation, existing study plans remain relevant.
The standard GMAT exam fees are as follows:
Delivery Mode | Fee in USD | Approx. Fee in Rs. |
At a Test Center | $275 | Rs. 23,000 |
Online GMAT Exam | $300 | Rs. 25,010 |
Additional Score Report
Number of Reports | Fee per Report in USD | Approx. Fee in Rs. |
Up to 5 | $35 | Rs. 2,874.14 |
Key Payment Methods
When it comes to payment for GMAT application fee, GMAC offers a smooth registration process through:
Credit Card – Visa, MasterCard, American Express
Debit Card – Visa or MasterCard only
Net Banking
While registering, ensure your card limit exceeds the fee amount. Even premium debit cards like Signature/Platinum variants qualify provided the Visa/Mastercard logo is present.
Also Read: GMAT syllabus 2023
Rescheduling and Cancellations
Here is the detailed breakdown of GMAT cancellation fee:
Time to the Exam | Fee in USD | Approx. Fee in Rs. |
More than 60 days | $55 | Rs. 4,516.51 |
15-60 days | $110 | Rs. 9,033.02 |
14 days or less | $165 | Rs. 13,549.53 |
Time to the Exam | Refund in USD | Approx. Refund in Rs. |
More than 60 days | $110 | Rs. 9,033.02 |
15-60 days | $80 | Rs. 6,569.47 |
14 days or less | $55 | Rs. 4,516.51 |
Delays happen so understand the financial consequences of rescheduling or cancellations:
Note cancellations mean forfeiting the entire registration fee paid. For flexibility, book only once convinced to appear.
GMAT Fee Waiver Program
The GMAT Fee Waiver Program is an initiative by the Graduate Management Admission Council (GMAC) to provide equitable access to the GMAT exam. Recognizing the cost barrier for some candidates, this program allows universities and institutions to nominate deserving individuals for a fee waiver.
Candidates receiving a waiver can take the GMAT exam free of charge, removing a major financial obstacle towards graduate management education. The program targets those demonstrating financial need and strong potential for success in a graduate program.
Universities get allocated a certain number of waivers per year to distribute at their discretion. The selection process is typically rigorous, weighing factors such as academics, leadership, and need.
Also Read: GMAT Waiver for MBA 2024
The GMAT Fee Waiver Program enables aspiring business leaders of all backgrounds to pursue management degrees. By letting deserving candidates take the exam gratis based on both merit and hardship, the initiative promotes diversity and inclusion throughout graduate business education. Removing cost barriers helps widen the pipeline of talent aiming for leadership careers.
Conclusion
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Also Read: What Is the GMAT Score for ISB?
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