I GOT A CALL FROM A MANAGEMENT INSTITUTE, I WANT TO JOIN IT AND TRY AGAIN NEXT YEAR FOR BETTER INSTITUTE

A difference of ranking of up to 5 to 10  among the institute you are in and the institute you want to join won’t have a serious impact on your career and we would recommend not to waste one year in such case. 

If you seriously want to give it another try  next year, in our opinion you should take up a job and gain some work experience instead of joining a management institute just for back up  purpose. If you can get a call from an institute this year, chances are you  will get it next year also and you have one year additional work experience  in your bag. If you are doing MBA and want to give it up next year for a better institute, it won't hamper your chance of getting a call from better institute but you will waste 1 year in the process. Also the fact that you are already doing MBA would NOT be of any advantage when you try for another management institute next year. Once you join a management  institute, there are a lot of assignment and presentation that need to be  done and it will not be easy to devote time for CAT preparation. If you are doing a job then it will depend on the kind of job you have.