MBA Programs Abroad
There are hundreds of MBA programs available worldwide of different genres. Evaluating an MBA program is no less than a mammoth task. However, trends show that the one year MBA programs are holding a weightage over the two-year programs. Data shows that the one-year programs have recorded a growth rate of 74% whereas the traditional two years recorded 43% growth.
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One Year MBA vs. Two Year MBA
MBAs have become diversified products, catering to segmented clientele’s needs. Upon exploring whether a two-year MBA program is superior to a one-year program, there is, unfortunately, no simple answer to suit all circumstances.
Therefore, let us scrutinize the significant question of One year vs. two year MBA- Which one to choose?
One Year MBA
In Europe the one-year format is common and there are far more opportunities for quick MBAs at a prestigious school. The list is long and includes Cass Business School, INSEAD Business School; Bocconi University in Italy and several other prestigious names are included in the list. The schools claim that its one-year MBA program is the world’s first to have been designed by business leaders. As promising as it sounds, it delivers feedback from leading CEOs and employers on the effectiveness of the MBA curriculum, fully integrating the teaching of interpersonal soft skills and practical business application. Though his program in Europe will take time to reach every nook and corner, currently it is being delivered at three of the school’s six locations globally. You can start your studies in London and then spend time in Shanghai and New York before graduating with all classmates at the school’s Global MBA Summit in Davos, Switzerland. An opportunity to grab, the effect of which will last a lifetime.
One- year MBA is on the rise and reportedly had growing number of applications according to the recent data.
Two Year MBA
A two- year MBA Program allows build a strong foundation. Employers are interested in someone who they can be confident about – who not only have immersed themselves in learning about business over a two-year period but also has that clear evidence shown by the internship.
The two year MBA program provides with the traditional learning where the students immerse themselves in learning for an adequate amount of two years of business learning and understanding. The students focus on their studies and are away from distractions and get well trained in the business scenario from start. Such graduates are usually very motivated to excel in a company and re-energize the teams they join. They are a great choice for management fast-track programmes, entry-level consulting jobs, or any other graduate-level job in business. The recruiters often look for such traits in the candidates which increase their chances of getting employed.
This is one of the biggest reasons why most of the traditional B-Schools stick to the old traditional method of MBA teaching.
One Year vs. Two Year
Both these course durations have their own set of pros and cons. Where one year allows you to save your time and bag a 12-month package, two year helps you understand the working of this sector closely and explore its existence beyond books.
Now we throw light on what effect it causes on a student’s profile, monetary differences and opportunities available and what is its outcome-
Student’s Profile –
| Two-Year Program | One-Year Program | |
| Educational Requirements | Can be opted by students of any background. From humanities to science. | Since this program is comparatively intense, hard core applicants of strong economics and mathematical background are enrolled. |
| References and Experience | The average work experience required is 4-5 years in order to enrich the learning environment. | The nature is accelerated. There is no time to compensate for lacking work experience. Therefore, professionals are always welcomed.
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| Career Goals | In the time span of two years, students get a lot of time to analyze what they need from their degree and what are the future prospects. | One-Year often provides a start to the CV. The students are already determined regarding their future goals and specialization and only pursue this to have an upper hand at various fields. |
Materialistic Differences-
| Two-Year Program | One-Year Program | |
| Expenses incurred | Two year full time MBA at Northwestern’s Kellogg School of Management estimates around $100,217/year, making your pocket well over two hundred thousand dollars lighter at the end of the full term.
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Kellogg’s one year MBA program, on the other hand, is a total of $133,720 for 2017-18. Though an estimate of accommodation, food and travel are included, in these, the actual cost maybe far more than the actual numbers. |
| Exposure and Opportunities | One out with a degree, it provides students with the best of job opportunities. Students had, had got a clean break from their career and after 2 years they emerge with an enhanced career profile, or to make a complete career change. | More than a break it is a boost to a person’s career. Many companies encourage their employees to opt for this. And quite a few candidates rejoin their company, at a better salary and designation, bringing in their acquired knowledge back to their familiar domain. |
Opportunities in Job Perspective-
| Two-Year Program | One-Year Program | |
| Internship | Due to availability of longer time period, provisions for summer internships are made. This helps the students to go in the outer world and understand the corporate working. This also increases their employment chances. | These are of shorter duration. Thus, internship options are not available to the enrolled students.
This somewhere acts as a drawback because then they are denied of the golden avenues of corporate world. |
| Campus Placement | Nearly all the students avail he opportunity of campus placement and land up in best of jobs. Also, job options are also available to them of higher level once they graduate with their degrees. | The non-native students of US often face an obstacle to get a work permit from outside the country.
This acts as an additional hurdle and makes them lose out on their campus placement opportunity. |
Therefore, as we have examined- Two makes your base strong with better future prospects and one yields a package of 12 months with experience supplementing it.
Now, it depends on the aspirant, since the choice is purely subjective. Research, understand and decide for yourself because you understand your needs better.
All the Best!
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