The BAT has become the new SAT
More businesses are starting to use the Bloomberg Assessment Test to screen the basic knowledge of potential employees.
By Steven McMahon
CONTRIBUTOR
The Bloomberg Assessment Test is a comprehensive exam that covers an individual’s skill level and knowledge of business topics. The material tests students on their verbal and math skills, as well as their analytic reasoning and ethical judgment.
All are common principles in the corporate world, making the BAT an essential benchmark for those pursuing careers in business.
Similar to how colleges evaluate the Student Aptitude Test, Bloomberg Institute designs their sections according to what firms are looking for in applicants.
Completing the BAT allows recruiters to identify your reading comprehension, finance-related math, and problem solving skills. More employers are looking into these types of assessment tests to determine a candidate’s potential, meaning that more students have started to take this exam.
“I plan on taking the BAT because I feel that it is essential in getting a high paying job out of college” said junior Siena Pugnale.
Generally they are interested with quantitative SAT, BAT, or GPA results and use these as a screening mechanism. By this term, I mean the process of eliminating applicants below a certain number.
If a candidate scores within the employer’s range, then the company would take a significant look at his or her Bloomberg Profile and attached resume.
These circumstances demonstrate how a decent BAT score can be effective in the professional world.
Already over 83,000 people have taken the exam and the number continues to grow. As a result, business undergraduates should prepare themselves adequately for a more populated and competitive job market.
This shift in the dynamics of the workforce creates the need for a broad assessment test. If the BAT gains more reputation, it might become an important factor for how employers assess their potential hires.
In an ideal setting, the SAT is to college what the BAT will be to employment.
However, even if you do not score well, taking the BAT is a great way to review one’s competency. The most beneficial part about Bloomberg Institute is their discretion policy.
If a student does not want to publish their results to employers or the public, they do not have to. The BAT can therefore only help one’s career, not hurt it.
Approximately 25 students gathered in Maher 119 on Friday Feb. 22 to take the three hour long BAT. After taking the exam, many students left with mixed emotions. One person remarked that the “BAT was like the SAT on business steroids”.
The section of the test this student was referencing is the business aptitude portion. Bloomberg Institute designs their exam to assess the student’s familiarity and basic understanding of the concepts within a particular industry.
Although no studying is required for the BAT, it is vital to understand the terminology associated with your finance and economics classes. For example, if a student didn’t know how financial leverage works, then they probably guessed on at least 4 questions.
The top categories tested on the BAT include financial markets, financial statement analysis, investment banking, and many more.
Combining these values with general math, verbal, analytic reasoning, and ethical situations gives a student their composite score.
They can then compare how well they did on the BAT according to the norm. It can be argued, however, that universities are not preparing students to take these types of exams, thus they do not score highly.
Another counterpoint would be that the BAT is not an accurate representation of a student’s work ethic.
Nevertheless, a student’s score on the BAT reflects an unbiased and definitive value which employers can use to further differentiate talented candidates from the average Joe.