I want to Quit IT company. Confused. Please Help!

Welcome to CE, #-Link-Snipped-#. First of all, the decision you're taking is an important decision and I should be well thought. I'd not recommend quitting your job right away to prepare for GATE. If possible, I'd recommend spending all your spare time in studying than quitting your job. Are you confident of cracking GATE? If yes, then you might just quit and dedicate yourself to studies. But if you have doubts, it'd be better to stick to your present job while you prepare for GATE.

There are several companies that sponsor or offer sabbatical to their employees for higher education. Do check with the HR managers in your company if they have the option and if you're eligible. I believe they'll ask you to complete your 2 year bond first; but it's always good to be sure about the policies.

So to answer your questions -

1. Quit (and break the bond) if GATE is 'THE WAY' you want to go. No one can tell you what happens in future. So evaluate your options and then take a decision.

2. I'd not recommend absconding. You should resign and discuss the matter with concerned officials. It's not going to be a cakewalk for sure but the trouble now may help you in future. Of course, every future employer will want to know how you spent the 8 months after graduation.

I'd recommend respecting the bond and at the same time preparing for GATE part-time. Quit only when you've a good GATE score. I did something similar years ago when I was building CrazyEngineers part time. I'm not blowing my own trumpet - but I did spend 7-8 hours in job and 4-5 working on this hobby project of mine. When you are committed to achieving something; hard-work doesn't look like hard work.

3. Finding a job is going to be a little difficult in current economic situation. If you can, find a job with a smaller company with flexible work timings. It could be easier than you'd think - provided you've a big name behind you at the moment. Once you've the job; you can resign from your company and pay the dues your company will ask for.

So overall, quitting should go down in your priority list and finding an alternate mechanism first (either another job or part-time GATE studies) should go up.

I'd also want you to consider directly looking for a job in the field of your interest. It'd be beneficial to start with a smaller company that offers you a job in the domain of your interest because the learning there will be massive!

PS: Update your engineering discipline in your profile settings, please.