GMATers vary in their perspectives on the amount of money that they \u2018think\u2019 they should spend on the GMAT. If we ignore the broader costs (time, energy, the money spent on crafting and sending out applications, ultimately attending Business School etc.), then we can focus on the immediate issue \u2013 how much should you plan to spend on YOUR individual GMAT training and Test-taking?<\/p>\n
The Cost to Take<\/strong> The Costs to Retake<\/strong> Investing to Save Money, Time and Effort<\/strong> Would spending an extra $200-$300 be worth the investment to keep from having to take the GMAT over-and-over again, study repeatedly and repay the Test Fee? This isn\u2019t a trick question. The answer is fairly obvious: YES - both your GMAT score and your future ARE worth that investment. Beyond the obvious dollar-savings, there\u2019s also the broader savings in time, energy and state-of-mind. With a strong, competitive GMAT score, you can comfortably apply to more Schools (and higher \u2018ranked\u2019 ones) and increase your chances at receiving a Scholarship or other financial assistance.<\/p>\n While there are many GMAT resources that are \u2018high-priced\u2019, there are plenty of high-quality options that are not so pricey. One of the great aspects about this industry is that most companies offer free materials so that you can use to \u2018test out\u2019 a product before you invest in it. To maximize YOUR potential on the GMAT, and go about this whole process without spending way too much money, you should investigate the various options and choose whichever one(s) best match your personality, timeline and budget.<\/p>\n GMAT assassins aren\u2019t born, they\u2019re made, GMATers vary in their perspectives on the amount of money that they \u2018think\u2019 they should spend on the GMAT. If we ignore the broader costs (time, energy, the money spent…<\/p>\n","protected":false},"author":156,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1,243,940],"tags":[],"class_list":["post-30316","post","type-post","status-publish","format-standard","hentry","category-gmat","category-uncategorized","category-blog","category-gmat-prep-gmat","entry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts\/30316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/users\/156"}],"replies":[{"embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/comments?post=30316"}],"version-history":[{"count":2,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts\/30316\/revisions"}],"predecessor-version":[{"id":30371,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts\/30316\/revisions\/30371"}],"wp:attachment":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/media?parent=30316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/categories?post=30316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/tags?post=30316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nAssuming that you do end up taking the Official GMAT, then that\u2019s going to be $250 right there. In theory, you could schedule the Test and then ask for a refund (as long as you ask at least 7 full days in advance), but that refund is just a partial refund (currently $80), so you\u2019re going to end up spending some significant money the moment you schedule that Official Test appointment<\/p>\n
\nNow, imagine that you\u2019ve tried to save some money on your training materials, and you\u2019ve been working with free resources (or relatively cheap ones \u2013 some used books, for example)\u2026 If you take the GMAT and don\u2019t end up with a score that makes you happy, then you can always retake the GMAT. GMAC makes it REALLY easy to do so \u2013 all you have to do is wait 16 days and spend another $250. You also have the freedom to take the GMAT up to 5 times in one rolling-year period\u2026. to the tune of 5 x $250 = $1,250.<\/p>\n
\nIf you \u2018rush in\u2019 to take the GMAT (especially when you are NOT scoring close enough to your goal score during practice to make that result realistic), then you\u2019re almost certain to take the GMAT again (and possibly multiple times). Considering how quickly that dollar investment will escalate, it\u2019s worth questioning WHY you would choose to spend so little money on your training materials\u2026.<\/p>\n
\nRich<\/p>\n","protected":false},"excerpt":{"rendered":"