MBA Aspirations? CAT Retake or Lower-Ranked School?

CAT Drop Dilemma: Reattempt or Lower-Ranked MBA?

Should I retake the CAT exam or enrol in a lower-ranked business school? Many candidates have grappled with this dilemma. You may be familiar with the saying "A bird in hand is worth two in the bush," but you are likely confident that another year of preparation could secure you a spot at your desired business schools. Here are five questions to consider before deciding whether to retake the CAT exam or accept an offer from a business school that has already admitted you.

• What are your expectations from an MBA?
• What are your objectives for pursuing an MBA? 
• Are you aiming for the reputation of a top business school? 
• Are you seeking the optimal placements? 
• Are you seeking to join a recruiter that exclusively recruits from specific institutions?

If the tag holds significance for you, consider giving the CAT another attempt and showcasing your best abilities. Attending a top business school can provide you with a high-quality education and access to exclusive job placement opportunities, although it is not guaranteed. Retaking the CAT exam can provide an opportunity to gain admission to a prestigious business school and secure a high-quality job, enhancing your credentials and career prospects.

If you are not aiming for a prestigious institution and are seeking a management education with good job placements this year, consider enrolling in a tier-2 business school. Nevertheless, an MBA incurs high costs and the resulting financial benefits may not meet your anticipated returns. If you are prepared to incur that expense to gain the advantages of an MBA this year, you might want to contemplate enrolling in a non-tier 1 business school instead of dedicating six months to preparing for a CAT retake.

Is CAT the sole pathway to your desired career destination?
Retaking the CAT exam would be beneficial if you aim to pursue a management education and the opportunities it offers. It would be advantageous to explore various competitive exams like XAT, SNAP, NMAT, IIFT, MAT, etc., which are accepted by Indian b-schools instead of the CAT. You could also explore international business schools that mandate GMAT and GRE scores to evaluate managerial capabilities. These exams are distinct from the CAT but offer various opportunities for admission to business schools, making them worth considering.

Your research might suggest that pursuing an MBA is not the sole path to achieving your career goals. Not everyone pursues an MBA with the goal of advancing in the corporate hierarchy. Enrolling in a non-MBA Master's programme at institutions in India or overseas could lead to increased salary, facilitate a move to a preferred industry or company, and accelerate career advancement. Investing time and effort in research is valuable to determine the most optimal career path.

Is investing in CAT a prudent decision?
Participating in the CAT exam is a significant risk. You are competing with over 200,000 individuals for a limited number of seats. The aggregate acceptance rate for IIMs ABCLIK is under 2%, and this is a conservative approximation. CAT 2020 highlighted the unpredictability of the CAT paper pattern and difficulty level. Business schools may alter their selection criteria, which could either benefit you or work to your disadvantage. Being a high-achiever, the expectations to perform exceptionally on the CAT exam also rise. God forbid you resign from your job and give up a stable income to dedicate more time to studying for the exam.

Consider evaluating your level of preparation, the nature of your profile, and your aspirations, and then question whether the potential benefits outweigh the risks.

What percentile is required for admission to your desired business schools?
Many candidates over the years prepare for the CAT exam with unclear ideas of success. Don't aspire to attend IIM Ahmedabad without understanding the likelihood of being admitted or the requirements for acceptance. Utilise this profile assessment tool to determine the probability of being accepted into your desired business school.

Remember, you can defy the statistics with an exceptional percentile. Research online to determine the percentile required for admission to the top business schools based on your profile. Think about your target percentile for the CAT retake. Now you understand the requirements for gaining admission to the business school of your choice. Consider if you are prepared to exert the necessary effort to reach your desired percentile.

Are you ready to cope with failure if you try the CAT exam again?
When contemplating the likelihood of success in a competitive entrance exam in India, such as CAT, it may seem like setting oneself up for failure to take the exam after months or even years of preparation. You have already experienced the disappointment of receiving a subpar score on your MBA entrance exam. Do you possess the capacity to handle potential failure once more? Are you ready for the consequences if you fail to pass the CAT exam this time? What will be your strategy after January when you receive the exam results in large numbers in your email?

These five questions aim to stimulate your thinking about the potential outcomes if you decide to retake the CAT exam. You can ask yourself many other questions to enhance the clarity of your decision-making process.