How Much Does the GMAT Cost?

Getting into and going to graduate school is costly, and the GMAT cost is an added expense. The fee is a hefty one and is more expensive than many similar standardized exams (except the MCAT…). Further, the actual GMAT cost is not the only budget item you have to consider. Most students purchase some sort of practice materials, and a few students even take the exam more than once. Added together, there’s no question that taking the GMAT will hurt your wallet.

Actual GMAT Cost is $250 — globally

No matter what country you live in, the base cost of the GMAT is the same — $250. Depending on your country, you may also need to pay some taxes on top of this price, though. Paying this $250 fee entitles you to one sitting of the GMAT.

Note, however, that if you choose to pay by phone you will be charged an additional $10. So, if you have easy access to the internet, register online!

Rescheduling Fees

The $250 base fee gives you one administration of the exam. GMAC, however, will add to your GMAT cost if you choose to do something like reschedule your exam. A rescheduling costs $50 if you reschedule your exam more than 7 days before your scheduled test. You can also get a refund of $80 (from your initial $250).

If you decide to reschedule at the very last minute, you’re out of luck. You’ll be charged another full $250. You also will not be entitled to a refund of your initial payment. That makes your GMAT cost essentially double — $500 for one sitting.

You cannot reschedule within 24 hours. Your account history will instead register a “no-show.” Note that this will not be sent to schools in your score report, however.

Score Reports and Cancellations

Besides rescheduling fees, GMAC also charges for score reports. On test day, you are given five (5) free score reports. Any more will cost you $28 each.

Finally, if you cancel your scores and then later decide you want to un-cancel them, you’ll be charged a $50 reinstatement fee.

GMAT Prep Materials

While most of the GMAT cost comes from GMAC directly, you’ll also want to buy some prep materials! Keep in mind that the range on these materials is enormous. A full, in-person course will run you thousands of dollars. Something more self-guided, like a book or online test prep (Magoosh!) could cost you less than $150. You can see some of our Magoosh plans here.

There are even some free resources (and they’re high-quality!):

Graduate School Itself is Costly

Always remember to put your GMAT cost in perspective. The whole point of taking the GMAT is to get into graduate school, after all. And that’s very expensive! Since graduate school itself will be pricey, you might want to consider this when budgeting in your GMAT cost. If you’re concerned about expenses, you might consider planning to avoid a rescheduling fee or a retake. You might also be prepared to send in your score reports to maximize your five free ones. Any fee you can avoid will help!

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