Choosing the Best MBA Finance Entrance Exam: CAT, CET, MAT, or XAT

Are you planning to pursue an MBA in finance and unsure which entrance exam to take? This article compares four of the most common MBA finance entrance exams in India: CAT (Common Admission Test), CET (Common Entrance Test), MAT (Management Aptitude Test), and XAT (Xavier Aptitude Test). Understanding the nuances of each exam can help you make an informed decision and increase your chances of admission to top-tier MBA programs.

Overview of MBA Finance Entrance Exams

The most common entrance exam for MBA programs, particularly for finance specializations, is the CAT. However, many universities accept scores from a variety of other exams such as XAT, CET, and MAT. The choice of which exam to take largely depends on the tier of the colleges you are targeting and your preparation timeline.

Common Admission Test (CAT)

CAT is a nationwide exam conducted once a year, typically around November. It is widely recognized and accepted by a majority of MBA colleges and universities in India. CAT scores can often serve as a decisive factor for admission to high-tier institutes like IIMs (A, B, C, L), FMS (Faculty of Management Studies), and SP Jain.

Common Entrance Test (CET)

CET is considered one of the easier entrance exams in the MBA landscape. However, due to its recent delays caused by the covid pandemic, it is now typically held in August, making it the last exam in your preparation cycle before applying to institutes. Although CET is a valid option, having multiple exam scores ensures a wider pool of options and reduces the risk of not securing a good college.

Management Aptitude Test (MAT)

MAT is often regarded as the easiest among the national entrance exams for MBA programs. It is conducted four times a year, providing more flexibility for candidates. However, while it is easier, the sheer volume of candidates taking this test can impact the competitiveness of the scores.

Xavier Aptitude Test (XAT)

XAT is known for being slightly more challenging than MAT but more manageable than CAT. It is conducted twice a year, in January and May. XAT scores can open doors to good colleges, with XLRI (Xavier Labour Research Brunswick Institute) being a notable example.

Special Considerations for CET and CET-Based Institutes

While CET is beneficial, waiting until August for your CET results can be risky if your results are uncertain. Many universities delay CET further, making it the last exam of the year. Planning ahead and securing a good backup option is crucial. For instance, my brother was offered admission to iFEEL Institute in Lonavala, which was actually his backup choice. The institute offers a competitive salary package of 7.47 LPA, international placements, a hostel fees inclusive fee of 8.84 Lakh, international tours, and a 6-month GCL project.

Best Colleges in India for MBA in Finance

The top colleges for MBA in Finance in India are IIMs (A, B, C, L), FMS, SP Jain, and XLRI. However, having a single admission from a top college does not guarantee the best outcome. Writing multiple exams increases your chances of securing a good college. For CAT, you can consider IIMs, FMS, SP Jain, and other institutes. For CET, options include JBIMS, and for XAT, XLRI is a strong fit.

Additionally, you have the option of writing exams like IIFT, SNAP, and NMAT. If you are accepted into multiple colleges, you can choose the best among them. It is always advisable to keep your options open and decide later whether to accept the current admission or wait for another year.

Conclusion

Selecting the right entrance exam for your MBA in finance is crucial for securing admission to your dream college. Ensure that you consider the tier of the colleges you are targeting, the ease of the exam, and the flexibility it offers. Aim to balance ambition and reality, and remember that having multiple options can significantly enhance your chances of success.

About the Author

Patrick Dsouza is a 6-times CAT 100iler and a seasoned expert in MBA admissions. His insights provide valuable guidance for students looking to pursue an MBA in finance.