All students who aspire to do their MBA understand that CAT is mandatory to get into the top MBA institutes in India. However, if you plan on pursuing your MBA abroad then you need GMAT. There are a few business schools in India too that accept GMAT these days, but no business school abroad accepts CAT scores.
While a number of students opt in for CAT, many others go in for GMAT. If you're confused about which one is better, then you need to read on. It's not about which one is better and which isn't anymore; it's about which one is more beneficial.
While CAT ruled the charts for many years, the number of people who are opting in for CAT have considerably decreased in the recent years and more people are opting in for GMAT.
If you're planning on opting in for GMAT, make sure you have enough work experience. People who have no prior work experience might not find GMAT as beneficial as those who have some work experience.
One of the main reasons there are more people who are opting for GMAT is because of the global exposure you get. While CAT is valid only in India, GMAT can get MBA aspirants into colleges across India as well as overseas.
Money is something every MBA aspirant needs to consider while opting in for either CAT or GMAT. If you have enough money to pursue your MBA abroad, only then will GMAT be a more beneficial option. This is because with GMAT one will not get you into the top MBA institutes in India, they are more beneficial for those who are looking to study abroad.
If you have a certain amount of funds (About half the amount of money) you can still choose to opt in for GMAT, apply for admission into MBA institutes overseas and once you get there you can always figure out a way to earn some money.
CAT makes sense when you choose to get into some of the best institutes in India such as IIM. However, the fees for enrolling into a college like IIM are as expensive as having half the funds for an admission into an overseas institute.
You can apply for CAT only once in a year, so if you don't get the desired scores you might have to wait an entire year to try again. GMAT on the other hand can be taken up to 5 times in a year. This is one of the main reasons that most students these days are opting in for GMAT. While you need to wait for a year to reapply for CAT, you can reapply for GMAT within 31 days. While CAT exams are around 2 hours, a GMAT exam takes a little longer.
At the end of the day, if there’s one thing you need to understand it’s that your choice of whether to do CAT or GMAT depends on where you would like to pursue your MBA. If you choose to do your MBA abroad, then GMAT is the only option you have since CAT is not valid abroad, however, if you want to get into a good Indian institute then CAT is always preferred. You need to carefully think it through since this is what helps make your career. MBA degrees stand strong and they help you establish a successful career. It’s not just about the money; it’s about where you would like to study. While institutes abroad can get you the exposure, some of the world’s best MBA institutes are in India. So take your time and choose what you think is best.