How Much Does the GMAT Cost? Fees to Know

If you’re planning to apply to an MBA program, there’s a good chance you’ll need to sit for the Graduate Management Admission Test (GMAT). This standardized test is one of the most widely used admissions tools for business schools around the world, and for good reason: it measures your skills in reasoning, analysis, and problem-solving—abilities that really matter in graduate-level management studies.

But before you register, one question looms large: how much does the GMAT cost?

Between exam fees, rescheduling, cancellations, and additional score reports, the price tag can climb quickly.

So, let’s break down the current numbers, explore hidden costs, and talk about how to budget smartly for your GMAT journey. Because with a 50% median salary increase on the line, it’s worth taking a strategic approach.

Note: all costs listed here reflect the most recent information available at the time of writing, but fees can change, so double-check directly with GMAC before you book.

Key Takeaways

• Base Fees: The GMAT costs $300 for the online exam and $275 at a testing center, with extras for score reports or changes.
• Extra Costs: Rescheduling, cancellations, and additional score reports can push your total well over the base exam fee.
• Retake Policy: You can take the GMAT up to five times in 12 months, but every attempt requires paying the full fee again.
• Budget Smart: Prep materials, reschedules, and travel for a test center exam can bring your overall costs into the $1,000+ range.
• Prep Pays Off: Studying effectively the first time helps avoid expensive retakes and maximizes your chance at a strong GMAT score.

The Base Cost of the GMAT

As of now, the GMAT carries two pricing structures depending on how you choose to take it.

• Online Exam: $300
• Test Center Exam: $275

The difference might look small on paper, but the real cost can be higher for in-person test takers. Depending on where you live, you may need to factor in travel expenses, parking, or even lodging if your closest test center isn’t nearby. For students in rural areas or international locations, those add-ons can make the in-person version significantly pricier.

There’s no discount if you retake the GMAT—you’ll need to pay the full fee again each time. So while $275–$300 is the starting point, most applicants should plan on spending more.

Understanding What’s Included

When you pay the entire exam fee, you’re covering the cost of sitting for the test itself. That includes the four sections of the GMAT:

• Analytical Writing Assessment
• Integrated Reasoning
• Quantitative Reasoning
• Verbal Reasoning

Your fee also includes the ability to send five score reports to schools of your choice. That’s important because every GMAT score you send is part of how schools evaluate your candidacy. But if you want to send your results to more than five business schools, you’ll face an additional cost.

Extra Fees to Keep in Mind

The GMAT exam fees don’t stop at the base price. Here are some extras you may run into:

• Additional GMAT Score Report: $35 each. Your first five score reports are sent free within a 48-hour timeframe of your score becoming available. Each additional score report costs extra.
• GMAT Reschedule Fee: ranges from $55 to $165, depending on how close you are to your test date when you make the change. The earlier you reschedule, the cheaper it is.
• GMAT Cancellation Fees: if you cancel your exam, you may be eligible for a partial refund, but the closer you are to your GMAT test date, the less you’ll get back.

In other words, the more flexible and decisive you are about your GMAT appointment, the more money you’ll save.

GMAT Vouchers and Fee Waivers

Some candidates qualify for financial assistance through vouchers or waivers. The Graduate Management Admission Council (GMAC)—the organization behind the exam—sometimes issues vouchers, and certain schools provide waivers for applicants with financial need.

Here’s how it works:

• Vouchers and waivers apply only to the test fee, not to rescheduling or cancellation costs.
• They cannot be transferred, sold, or used for a different version of the exam. For example, a voucher for the online test can’t be applied to a test center exam, and vice versa.
• If a voucher is misused, it’s considered fraudulent and won’t be honored.

So, if you’re worried about cost, check with your target MBA program to see if they offer fee waivers.

Retakes and Policies

It’s common for test takers not to hit a good GMAT score the first time. The good news is you can retake the exam—but there are limits.

• You can take the GMAT up to five times in a rolling 12-month period.
• You must wait at least 16 days between attempts.
• There is no lifetime retake limit.

Each retake requires you to pay the entire exam fee again—no discounts. That means $275 for a test center exam or $300 for the online version, every single time. If you think you’ll need more than one attempt, it’s smart to factor those costs into your budget.

Budgeting for the GMAT

So how much should you budget? Let’s do a quick sample calculation for a typical applicant:

• One Online Exam: $300
• Two Additional Score Reports: $70
• One Reschedule Fee: $110
• Prep Materials: $200–$1,000 depending on what you choose

That puts the total anywhere from $680 to $1,500+. And if you end up retaking the exam, the number goes even higher. However, the average student should probably expect to budget around $1,000.

The takeaway: the GMAT isn’t just another test—it’s an investment. Planning ahead can save you both money and stress.

Preparing to Avoid Retakes

Since retakes mean more money, the smartest financial move is to be prepared for your first attempt. Here are some ways to improve your odds:

• Take practice tests early to find your strengths and weaknesses.
• Invest in reliable GMAT prep resources—whether self-study guides, online courses, or tutoring.
• Give yourself plenty of time before your GMAT test date so you can study consistently rather than cramming.
• Simulate the testing experience at home to reduce surprises on GMAT test day.

The goal is to walk into your GMAT test appointment with confidence, so you don’t have to pay to do it all over again.

Why the GMAT Is Worth the Cost

It’s easy to feel overwhelmed by the fees, but remember: the GMAT is more than just a hurdle. A strong performance on this standardized test can open doors to top-tier schools and, by extension, career opportunities that may not be available otherwise.

For many applicants, the investment pays off. Scoring well shows you have the quantitative reasoning skills, analytical ability, and discipline to thrive in a demanding graduate program. When combined with your work experience and application essays, your GMAT results help demonstrate that you’re a serious candidate for elite programs.

Final Thoughts

The cost of the GMAT can be a bit of a moving target, depending on how many times you take it, how many schools you apply to, and whether you need to reschedule or cancel along the way. Between the test fee, prep costs, and potential extras, it’s wise to plan for several hundred—if not over a thousand—dollars.

But think of it this way: your GMAT investment is really an investment in yourself. By planning your GMAT test date carefully, preparing thoroughly, and budgeting for the process, you can maximize your chances of success without draining your wallet.

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