Why Go In For 1-Year MBA?

MBA aspirants often get confused about the sheer number of full time programs available, some in the one-year format and others spanning two years or more.

Your choice depends on, to a large extent, on your academic and professional background and career goals. If you are interested in spending as little time as possible away from the workforce yet want to acquire knowledge and capabilities for faster career progression, then the 1-year MBA is the best bet.

However, if you prefer a deeper immersion and more time, the 2-year format would be ideal. Let us examine the advantages and disadvantages of both types of programs.

In most cases, the reason for signing up for an MBA program would be career advancement, change in career path, starting own business or for working abroad.

1-year MBA More Challenging

While the MBA is considered to be tough and demanding, both in terms of time and intellect, the 1-year program would be more challenging since it packs the same rigours of the longer version to be completed in lesser time.

You would not have the luxury of long summer internships, time or space for introspection or a change in the chosen field. You may also get limited opportunities at developing long-term relationships with fellow students, faculty or alumni.

However, the 1-year programs offer several advantages, the foremost being that you need to spend much lesser time away from work. It thus works to your financial advantage, in terms of salary gains as well as better return of investment prospects in a shorter time frame.

Even the 2-year programs do not have much space for relaxation. While most programs start in August, recruiters land up in the campus almost the very next month to choose candidates both for summer internships and full-time jobs.

At this stage, several of the students are unsure of the field in which they wish to specialize but are asked to commit to a job search within a chosen industry almost immediately.

Europe on Fast Track

While most of the schools in the US continue to offer the 2-year full time MBA program, their counterparts in Europe mostly have 1-year programs.

An exception to the rule is the Cambridge, Massachusetts-based Hult International School of Business. It claims to have the world’s first one-year MBA program designed by business leaders. Based on feedback from leading CEOs and employers, it integrates the teaching of interpersonal soft skills and practical business applications.

The program is delivered at three of the school’s six locations globally. You start your studies in London and then move on to Shanghai and New York before graduating with all classmates at the school’s Global MBA Summit in Davos, Switzerland.

Choice of Schools

European schools offering 1-year programs include Cass Business School, Warwick Business School and Lancaster University Management School in the UK; INSEAD Business School and IE Business School in Spain and Bocconi University in Italy.

In the US, Cornell University’s Johnson School of Business, Thunderbird School of Global Management, Kellogg, Emory University’s Goizueta School, USC Marshall and Boston University among others, offer one year programs.

Flexible Programs

In keeping with demands from students and the industry, several of the schools have adopted a flexible approach. ESADE Business School has MBA programs of 15 or 18 months duration with the option to fast-track in 12 months.

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It has specific tracks for students who want to focus on a career in finance, family business innovation and entrepreneurship, Latin America and marketing.

IE Business School’s 13-month International MBA programme combines entrepreneurship, diversity and the humanities with a unique focus on social responsibility. It also has a 10-month IESMU MBA program, a joint initiative of the school and Singapore Management University.

It provides insights into Asia Pacific markets, business strategies and management cultures. Students are allowed to test newly learnt concepts, skills and management techniques in business case analyses, simulated environments, and faculty guided, cross-functional, real-life projects.

Post-MBA Salary Scenario

MBA 1-year program graduates usually get positions at the same pay rate as those from two years programs. In some cases, they even earn more.