The Cost of the MBA Application Process

If you’re looking to pursue an MBA, you have probably already considered the costs. You may have thought about tuition, for example, the fees, or the cost of relocation. You may have even gone so far as to add up the price of new attire, hoping to look sharp and make a good first impression. But have you considered how much it might cost you to apply in the first place?

The fees and associated costs of the MBA application process are numerous, and often overlooked. Almost every element of your application comes with a price tag, and—though many of the numbers may appear small—these costs can add up.

The exact number of these MBA application costs varies, depending on factors such as the school you’re applying to, that school’s application requirements, and whether you’re a domestic or international applicant. Application submission itself wields a hefty fee—you are likely to be charged between $30-300 (although fee waivers are becoming more common)—as does the standardized test that you’ll need for your application, with the GMAT and GRE cashing in at $275 and $220, respectively (at U.S.-based testing centers). At the other end of the scale are the fees surrounding your undergraduate transcripts; each copy will probably cost you between $5 and $50. And then we start to get further into test preparation territory, the cost of preparatory resources, interview coaching services, tutoring assistance, resume reviews…. Oh, and have you considered an admissions consultant?

It can be tricky to keep track of all these expenses and their potential total. But we are here to help!

Below is a chart that represents the various elements, their costs, and the potential total of a sample MBA application. The example below includes a GMAT retake, a request for an additional GMAT score report, and taking the TOEFL (required by international applicants as proof of English proficiency—candidates can also take the IELTS). It also includes the costs of travelling to and from campus for information sessions, although these can take place online. The chart does not include the cost of transcripts, since these are highly specific to each undergraduate school. It also does not include the cost of hiring an admissions consulting firm; this could add a number from $3,000 to $10,000+ to the final total. (For test prep and consultants who can fit your budget, check out Clear Admit’s partner, Leland.)