Let’s start with the naked truth: taking the GMAT exam will cost you US$250. This is the equivalent of over sixteen thousand rupees. At first glance, this is going to look like a significant sum (and it is, we don’t disagree), but given the opportunities, this test score opens up for you, it is well worth it. For starters, consider these:
- Your GMAT score is accepted not just by MBA programs but by thousands of specialised graduate and Ph.D. Programs Around The World.
- This includes India too, by the way. Apart from ISB and IIMs, there’s a whole list of Indian B-schools that accept the GMAT score.
- A high GMAT score will not only get you a good admit but also stand you in good stead for your placements afterwards. For instance, many consulting companies (including the Big 4) consider a high GMAT score as an advantage
- Your GMAT score is valid for 5 years. So, you can use the one score to apply to different programs during this period if your early attempts don’t succeed
We could go on and on, but you get the drift, don’t you?
What does the registration fee include?
For this USD250, you get to take the GMAT once, and they will also send your official score report to 5 B-schools of your choice for free. If you need to send your official GMAT score report to more than 5 schools, the GMAC will charge you USD28 for every additional school.
Rescheduling the GMAT
Now if you need to reschedule your GMAT exam for any reason – an emergency, you feel you’re unprepared, something else is clashing with the date – you will need to pay a reschedule fee of US$50. This fee is applicable only if you reschedule the exam more than 7 days before the chosen test date. Within those 7 days, you will forfeit the entire sum you already paid and will have to pay another US$250 to schedule the test again. So, try and plan early as much as possible, and don’t wait until the last minute to make these decisions.
Cancellation & Refund
If you cancel your test online more than seven full days before the date and time of your exam, you will receive a return of USD80. If you cancel by phone, you will get a credit of US$80 credit on your account but also a service charge of US$10. If you cancel your exam less than seven full days before your exam date and time, you are not eligible for a refund, and if you do this over the phone, you may be required to pay an additional US$10 as a service fee.
Forms of Payment
- Credit card (Visa, MasterCard, American Express, or JCB)
- Debit card (Visa or MasterCard only)
Some Indian banks will not allow the debit cards to be used on the internet unless the merchant participates in Verified by Visa or MasterCard Secure Code. If you face any such restrictions, please contact your bank for support. Also note that if your credit card is declined, your exam date will not be saved. You will need to schedule your test again using a valid form of payment.
In a Nutshell
|GMAT Prep||Free Download|
|GMAT Handbook||Free Download|
|GMAT Exam||US $250|
|Additional Score Report||US $28 each|
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