One Year MBA vs Two Year MBA vs 16 Month MBA: Which Is Better?

MBA aspirants often get confused whether to go in for a 1-year program or the 2-year one amid conflicting claims from business schools and others regarding the timeframe, costs and returns. Representatives of two institutions following the 1-year and the 2-year program present their views on the subject. 

Nick Barniville, Director of MBA and Masters Programmes at ESMT, (European School of Management and Technology) Berlin, feels that 12-months would be more than enough.

He gives five points in support of his contention while answering the question in QS Top MBA blog.

1. One-year MBA programs cost 50% less by way of tuition fees and   living expenses than the two-year counterparts.

2.  You need to forego only half of the amount as salary compared to a 2-year program.

3. Graduates earn roughly the same as those from similarly ranked two-year programs, according to data from business school rankings.

4. A more intense work schedule and less of holidays which could be taken as an efficiency benefit. You do not end up paying a lot of money to have free time.

5. Participants, by finishing the program in a shorter duration, could apply the knowledge garner during the MBA to the workplace earlier than their 2-year counterparts.

The majority of the top-50 MBA programs ranked by the Financial Times are now one-year programs. Almost every new entrant to the FT ranking in the past five years has been a one-year program, he says.

It is claimed that MBA summer internships, available only in 2-year programs help participants get job offers from the companies that hired them.

However, at final placements, there is no difference in salary statistics. It could be because students joining 1-year programs have more work experience and awareness about their career goals, he says.

The average age of those entering two-year programs (about 27) is two to three years younger than those attending one-year programs and they get more time to mature. But why should you pay an extra $1000 for personal development opportunities?

Participants on a two-year program can take more electives. However, the MBA is designed to be a general management degree and there is no evidence that the employers, are willing to pay for this specialist knowledge in MBA roles.

The 2-year program gives participants more time to explore interests outside the curriculum, but is it worth the time and money?

MBA transforms a person’s fundamental nature that needs the intense bonding offered by a two-year program. However, 1-year program participants get about 80% of the contact hours of a typical two-year program, enough time for such purposes.

Andrea Masini, Associate Dean of MBA programs at HEC Paris, presents arguments in favour of the slightly longer  16-month program.

He says 16 months are needed for as 25 to 34 years candidate with a number of years of work experience to achieve one of two career goals–to secure a top job in a general management position or to switch careers

At HEC Paris, this time is divided into eight months of fundamental courses, four months of either electives or a fieldwork project, and then four months of MBA specialization courses in a specific domain. This could be in the likes of strategy, marketing, finance, advanced management, or entrepreneurship.

The curriculum is designed with the help of top management consulting firm Bain & Company. The 16-month MBA format provides students with eight months of advanced training in essential business disciplines, with the addition of a language course, leadership development, and career building and coaching.

The following eight months is more flexible in nature, giving participants the opportunity to tailor their program by choosing from a range of MBA specializations and fieldwork projects or by taking part in an international exchange with another top business school elsewhere in the world. They could also opt for individual or group fieldwork projects and internships to gain corporate exposure.

At HEC Paris, 90% of the class is international. These 200 students come from over 50 countries. It’s an environment that allows them to test their leadership skills, and they can later apply this knowledge to become better future global leaders while creating a genuine lifelong network.

This program length also means that those looking to switch careers will have long enough to build a credible CV and convince future employers that they have not only mastered the fundamentals of management, but also that they have specialized knowledge in the new field they have chosen.

A 16-month MBA course is the best compromise between the need to deepen knowledge in certain topics and the need to reduce the opportunity cost. This is the cost that results from time spent studying without a job. It’s generally much more costly for those on two year MBA programs, he says.