Why IT sector slowdown makes it difficult to crack CAT and Banking Examinations

Interlinking between economy and competitive examinations play a crucial role. Post-2008 financial crisis, the number of students appearing for Common Admission Test (CAT) had come down drastically. Some of the reasons include slowdown in placements and increasing college fee etc.

Current year approximately 74,000 fresh engineering graduates were recruited by Indian Information Technology (IT) industry as against  2,00,000 last year. This shows a dramatic decline of more than 60%. Reasons are aplenty right from the uncertainty created because of Brexit, improved automation and Donald Trump being nominated as president of America.

The Problem

Life is not going to be same for competitive exam goers in India. Those Engineering graduates who missed the chance of campus selections and those who were already selected might be preparing and appearing for these competitive examinations. More students are expected to compete for the same number of banking and government jobs, MBA seats. The result – competition is going to be tough going forward.

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Tips for tide over

Take this as Last Chance

There is a difference between those who started preparing for competitive exams recently to those who were already on the track. Use this as an advantage and put your best effort in cracking the competitive exams. Think of it as last best shot.

Re-Skill during Lean Period

Most of the written examinations and their related selection procedures get completed by February end. The lean period “March to May” should be used to re-skill yourself either in technology, soft skills or any other domain which may deem fit. Try to be so good at skills that it is difficult to replace you with somebody.

Go Abroad for Higher Studies

If you can afford, try for masters abroad where competition is comparatively less and returns are decent. At the end of the day what matters is how you plan your career. Without proper planning and increased competition, you are staring at a bleak situation.

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