As the CAT 2021 exam concludes, we observed mixed responses from the test-takers. While some of the candidates are planning their next step towards their dream business school, others have the sinking feeling of disappointment over the CAT 2021 exam.
Endeavor Careers came up with this article to elaborate on how to deal with the scenario if your CAT 2021 didn’t go as expected. Definitely, eying for GMAT and education abroad is one option, there are other things too that CAT 21 test-takers can opt for.
Every year, over 2 lakh students appear for the exam and aspire to get into top IIMs and approximately only 2% get in. The below graph depicts how the number of registrations is only increasing year on year. Yet, the seats at the top IIMs remain the same.
Image Source – Mindworkzz
Everyone has some unspent fuel and CAT is not the end-game. Here are 3 things aspirants can do if they have missed the mark in CAT 2021 performance.
Prepare for other similar exams – XAT, SNAP, etc
Broadly speaking, the CAT exam is followed by exams like IIFT, SNAP, XAT, CMAT and MAT. As you wait for the CAT result declaration on the CAT 2021 official website, you still have time to prepare and ace these exams. The MBA entrance exam season has just begun and students must capitalize on that. Now is the time to put your right foot forward and give these exams good preparation.
Gain work experience and work towards CAT 2022
If you are a working professional, you must have seen people cracking CAT in the 2nd, 3rd, or even 4th attempts. With only a handful of students cracking CAT, it makes getting into an IIM even more difficult than the Harvard or IVY league schools. If you are already working, you must continue with your job and prepare for CAT 2022. And, if you are a fresher, you can look for a job and then start your CAT2022 preparation alongside work.
Use CAT preparation to ace the GMAT
Deciding to do your MBA abroad not only opens a lot of doors of opportunity but also saves a lot of time and money. GMAT is the most preferred test for admission to MBAs abroad. It is also accepted by 150+ B-schools in India. The GMAT test is a silver lining. It is another way to get into top business schools without wasting one more year on CAT preparation. So if you are fearful of your CAT results already you can leverage your CAT preparation to prepare for the GMAT.
5 reasons CAT aspirants must take GMAT in addition to CAT
With despair in mind, students should focus on what they can do to avoid wasting one more year for CAT preparation. The number of B-schools accepting GMAT scores is increasing year on year. Not only can you go abroad but also enter the top B-schools in India.
1. GMAT score is valid for 5 years
Unlike CAT, the GMAT score is valid for 5 years. It gives you the freedom to take the GMAT and build your profile for IVY league colleges. You also get the flexibility of choosing when to participate in the admissions process and when not.
2. GMAT is accepted globally
CAT is only accepted by 230+ B-schools in India. However, the GMAT is accepted worldwide by more than 7000 MBA programs. Additionally, few Indian business schools like ISB, Indian Institute of Foreign Trade (IIFT), XLRI, Birla Institute of Management Studies (BIMS), Faculty of Management Studies (FMS), Great Lakes Institute of Management, etc accept GMAT scores for their full-time MBA programs.
Image Source – Stoodnt
3. GMAT can be taken all year round
The GMAT test is conducted all year round i.e. the exam takes place every month. Aspirants can take this exam more than once a year if they have not attained their targeted score. However, CAT can be taken only once a year regardless of your preparation. This gives you the flexibility in terms of preparing for the GMAT. Additionally, the GMAT can be rescheduled or cancelled by paying a fee but the CAT exam is held only on the designated date.
4. GMAT opens the doors to scholarships
Taking the GMAT test not only helps you to get admission to your target MBA program but also opens the door for financial aid and scholarship opportunities. In general, GMAT scholarships can be quite generous and easy to compete for. The value that it brings with it is beyond leveraging.
5. GMAT preparation time is lesser than CAT
The time taken to prepare for the GMAT exam is significantly lower than CAT. A typical student takes about 1-2 years to prepare for the CAT exam. But, the same student can score a 700+ score in GMAT with about 3-4 months of preparation.
Image Source – PrepScholar
Students must remember that sincere preparation is never a waste. With the above-mentioned options, you can easily get into the top B school, even if it is not an IIM. Consider appearing for the GMAT or GRE and applying to the top-tier business schools to study abroad while utilizing your CAT preparation.
Taking the GMAT exam has many benefits as compared to CAT in terms of MBA admissions. Whether you are planning to prepare for CAT 2022 or the GMAT, Endeavor Careers can help you with a personalized study plan. We are India’s leading study abroad consultants helping students get into their dream B-schools. Feel free to get in touch and talk to our career counsellor.