Gmat Exam Fees 2023 – Every year lakhs of Indian students move abroad for pursuing their dreams. Most of the Indians prefer English speaking countries as English is pretty common among Indain students compared to Spanish, French, German or any other languge.
Last year India recorded 1.33 lakhs students which moved abroad for studies. Getting an admit from the top universities is pretty tough because of the high competition.
However, getting high academic scores and getting high marks in other universal competitive exams can surely lift up students’ CV to a higher level.
There are several universal language exams for the English language which can be given, for example, IELTS, TOEFL, etc.
Language exams aren’t the only requirement for getting an admission in top universities in English speaking countries.
There are several other universal exam which are sometimes mandatory as an eligibility criteria for certain courses. The most popular two exams are GMAT and the GRE exam. If you want to know the differences between GMAT vs GRE, then you can read our blog on it.
The GMAT exam is given by graduates mostly for getting an admit from top business schools in English speaking countries. The GMAT exam is a general aptitude test for testing the aptitude for students.
The GMAT exam is also a general aptitude exam but it is not limited to top business schools. It can be given by any student who wants to pursue hgher studies in a English speaking country.
The GRE exam can seem like the better option as it is accepted in almost all the graduate courses, but the student should take a note that most business schools prefer scores from the GMAT exam as it is specially designed for the business schools. In this blog, we will discuss about the GMAT Exam Fees. So, let’s get started.
GMAT EXAM
The full form for the GMAT exam is Graduade Management Admission Test. As the name suggests, the GMAT exam is given by students aspiring to pursue management courses from top universities in English speaking countries.
It is conducted and administered by the Graduate Management Admission council. It is basically an universal enterance exam for all the top business schools around the world.
The motive of the GMAT exam is the test student’s aptitude and reasoning who are applying for management courses.
GMAT EXAM PATTERN
The GMAT exam is taken on the computer adaptive test basis. The computer adaptive test is a format of test which is made to help students and to make the exam more personalized.
The computer adaptive test works by checking how the student has answered the previous questions, accoding to that data the computer adapts itself to prepare the next question.
For say, a student marks the question number 1 as a right answer then the computer will prepare the question number 2 which is harder then the previoyus one.
If the question number 1 is answered wrong then the computer will prepare itself to prepare an easier question from the previous question.
This format helps the students to get a personalized question paper according to their own mental ability. This mode may be beneficial or not for different students, but due to its dynamic nature, it is impossible to predict the next question.
The GMAT exam pattern has been formulated by the Graduate Management Admission council. The GMAT exam pattern comprises of four main sections.
The four sections of the GMAT exam are as follows:
- Analytical Writing Assessment
- Integrated Reasoning
- Qualitative Reasoning
- Verbal Reasoning
All the four sections of the GMAT exam are compulsory to attend for the students.
The time duration for the Gmat exam is 3 Hours and 7 minutes, which is more or less equally divided among the four sections.
Analytical Writing Assessment section in the GMAT exam
This section of the GMAT exam is designed to test the students’ ability to think critically and to analyze what an argument or situation means.
This ability to think critically is specially important for management students as their daily job requires them to use this abilities.
Time duration and question pattern
The time duration for this Analytical Writing Assessment section of the GMAT exam is of 30 minutes. The students are given an argument in each of the question.
The argument should be properly read and understood, after understanding the argument the student should analyze the argument and come up with a conclusion and analysis.
Tips to write good answers.
The best way to write attractive answers in the Analytical Writing Assessment is to make the answers sound like a discussion on the argument. The answers should contain expainations with real lie examples.
Integrated Reasoning Section in the GMAT exam
The integrated reasoning section is to test and evaluate the reasoning skills of the student. The Integrated Reasoning section consists of 12 questions. The time given for these 12 questions is 30 minutes.
Pattern of questions
The questions in the integrated reasoning section contain various data in the form of graphs, pie charts, and other data formats.
The students are required to analyze the data from different sources and then come to an answer to the questions.
Quantitative Section in the GMAT exam.
The quantitative section tests and evaluates the basic concepts of math of the student. The basic concepts are till the 10th std. Geometry, Algebra, and arithmetic questions are asked.
The qualitative section is further divided into two types of questions. The two types of questions are: Data sufficiency and Problem solving.
Time period of the qualitative section
The time duration of the quantitative section GMAT exam is of 62 minutes. This section consist of 31 questions. So, every question is to be answered in a short time period of 2 minutes.
Verbal Reasoning section in the GMAT exam
Reading, and speaking are the two crucial skills required in management careers. The GMAT exam also tests these skills of reading, speaking, listening in the Verbal reasoning section of the GMAT exam.
The verbal reasoning section also tests the vocabulary of the student.
Time duration of the section
The GMAT verbal reasoning section is of 65 minutes. The total number of questions in the verbal reasoning section are 36.
Six questions among these 36 questions are experimental, which means that these six questions won’t be counted in credit score. However, these is no way of finding out which question has credit and which doesn’t.
This section is te most important in all the four sections as it has the highest weightage and also is the most scoring among all the four sections of the GMAT exam.
GMAT EXAM FEES
The GMAT exam fees in India is US$275, that is approximately INR 21,000. This is more expensive than other competitive exams, and thus students are advised to prepare well befpre the exam to avoid multiple attempts.
Cancellation fees for GMAT EXAM FEES
The cancellation fees depends upon the time of cancellation. Students are advised to choose the exam centers and the slot carefully to avoid cancellation.
| Cancellation time | Refund applicable |
| Before more than 60 days of exam date | US$100(INR 8000 approx.) Refund |
| Before more than 15-60 days of exam date | US$75(INR 6000 approx.) Refund |
| Before less than 14 days of exam date | US$50(INR 4000 approx.) Refund |
Rescheduling fees for the GMAT exam FEES
In case of any changes in the time schedule in an booked appointment, the student can reschedule the exam by paying additional fees. The additional fee structure is as below.
| Rescheduling time | Reschedule fees |
| Before more than 60 days of exam date | US$50(INR 4000 approx.) Refund |
| Before more than 15-60 days of exam date | US$100(INR 8000 approx.) Refund |
| Before less than 14 days of exam date | US$150(INR 12000 approx.) Refund |
GMAT EXAM FEE SCHOLARSHIP
The cost for the GMAT exam is quite high compared to Indian standards. The GMAT authorities recognize the need for fee waiver for many students coming from an underprivileged backgrounds.
However, students directly cannot apply for this fee waiver. Instead, GMAT leaves it to the business schools to apply for waivers for their students.
The number of applicants for eligible for fee waivers from a particular business school are limited to 10 waivers per year. The business schools have to set up their own criteria to decide who gets the waiver.
A student can apply for waiver from their undergraduate business school, or the business school in which they are applying for the MBA program.
The school also decided how much waiver is to be provided to the students. The business schools have to submit a report which contains all the documents justifying the fee waiver to GMAC.
Important information about the GMAT exam fees payment.
The payment is to be done with from cards of limited companies. The GMAC allows payment from companies like VISA, Mastercard, American Express, and Discover Network Cards.
Debit cards and Credit cards both are acceptable of these companies.
In case a student uses a fraud, illegal, or stolen card the authorities will take legal action against the applicant as well as the schools will be informed.
Alternatives to the GMAT exam
The GMAT exam is basically for applicants applying in business schools. However, the fees for GMAT is quite high. The students can thus choose an alternative exam instead of the GMAT exam.
GRE exam is one such exam similar to the GMAT exam. The GRE exam stands for Graduate Record Examinations.
It is similar as the GMAT exam in the GMAT syllabus but unlike the GMAT exam which is only for the business schools, the GRE exam can be given while applying to any graduate course including business schools.
The GRE also contains the same four sections: Analytical Writing Assessment, Verbal reasoning, Integrated Reasoning, and the Quantitative reasoning section.
The time duration for the GRE exam is of 3 hours and 45 minutes. The GRE exam is also a universal level exam so the competition is the same. However, some people compare GMAT to be easier than the GMAT exam.
The main benefit of the GRE exam over the GMAT exam is the fees. The fees for the GRE exam is INR 15,857 which is less as compared to the INR 21,000 fees for the GMAT exam.
However, there are many opportunities in fee waiver in the GMAT exam. The students are advised to prepare in advance and carefully select the date, time, slot and the other details to avoid any kind of additional costings.
We wish all the best to all the students applying for the GMAT examination from India. If you want to know about the GMAT score validity, then you can read our blog on it.
Conclusion (GMAT Exam Fees)
In this blog, we have discussed about the GMAT Exam fees.
The GMAT exam is an important step in the application process for best colleges, so it’s important to know what you’re getting into.
That’s why we’ve created this blog to give you as much information as possible about the test, so you can be sufficiently prepared before taking it.
We hope that this information is helpful to you, and if you have any further questions or concerns, please feel free to contact us at CourseMentor™.
FAQs (GMAT Exam Fees)
Is the GMAT a computer adaptive test?
Yes, the GMAT is an adaptive computer test. It adapts to the test taker’s proficiency level based on the right answers in previous questions.
Can I take the GMAT again?
You can absolutely retake the GMAT. however, You must wait 16 calendar days. The maximum number of times you can take the GMAT 5 times in a year and 8 times in a lifetime.
