Online GMAT Fee Increases 25%
Starting on September 23, the fee for the online GMAT will jump 25% from $200 to $250. But wait. There’s more! The GMAC, the company that administers the GMAT, will also begin charging a $25 rescheduling fee and a $100 cancellation fee. (All amounts are reported in US dollars.)
Perhaps the GMAC believes that charging a higher fee will convince MBA applicants that their product is superior to the GRE. We’re perplexed as to why they would raise the test’s fees when they are rapidly losing market share to the GRE. Based on the technical glitches we’ve been hearing about, we don’t see a perceived quality difference tilted in the favor of the GMAT.
The percent of this fall’s incoming class that submitted GRE scores rose to 38% at Duke Fuqua and 35% at Yale SOM. So, yes, we can now confidently state that the GRE has “arrived.”
Our advice on the GMAT versus the GRE remains unchanged. Take a diagnostic official practice test of each and see which one yields the highest percentile score. Often times, the percentiles are similar and the decision as to which test to take comes down to personal preference. This fee increase, combined with the fact the online GMAT can only be taken two times a year as compared to five times a year test takers can sit for the GRE, could easily persuade even more prospective applicants to ditch the GMAT for the GRE.