The reason students wish to opt for business courses is understandable. The central aim is that a post-graduate program in management such as an MBA plays a huge role in creating value and better career opportunities and in establishing a higher wage premium captivates students to this discipline. Before you start with your MBA you need to figure out which one is a better option: One year MBA or two year MBA?
For aspiring managers, deciding to study for an MBA degree is a big step. An MBA will offer you numerous advantages, especially when it’s from a well-known business school. Getting a high salary, landing in a management position, establishing a strong professional network, or even becoming your own boss is a few of the advantages we have listed of studying for an MBA degree.
Features Of One Year MBA Vs Two Year MBA
- The duration of the course is 10-12 months.
- The course structure is profound and densely packed.
- Most colleges providing a one-year MBA are in the UK and Europe such as INSEAD, IMD, and Cambridge.
- It is usually preferred by people who have noticeable work experience as the course is more practical and work-oriented.
- The One-Year course College Fees at INSEAD, the leading school, are approximately around $1,00,000.
When you’re narrowing down your choices to a one-year or two-year MBA, keep in mind the structure of your course, and the features of the course. Here’s how a 2-year MBA course would look like:
- The course duration is around 24 months.
- The course structure is divided over two years, offering more intellectual knowledge.
- A compulsory internship is also a part of the course that provides practical experience whereas, in one year MBA, it is kept optional. Although, it is suggested to go for internships in one year, scrutinizing the industry’s favorable attitude towards graduates with internships
- Most of the preeminent colleges of 2-year courses are in the U.S and the UK.
- It doesn’t ask for large-scale work experience of many years as it is in the case of one year MBA. People with fewer years of work experience can also apply for it.
- The fees at Stanford, one of the top schools for a 2-year course, are approximately around $1,20,000.
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Advantages: One Year Or Two Year MBA?
Advantages Of The Short Term Course
- The major advantage of a one-year course is the fees. It is a financially feasible option and suited for students who are bound by limitations about time.
- The course fees are somewhat on the lower side. Also, a one-year course involves a reduction in the cost of studying abroad by accommodation, traveling, and miscellaneous expenses, as a result of which the student can make substantial savings.
- For people who are already working with a reputed brand and are being paid an excellent salary, this course is the most suitable one as it does not lead to a long break in their career. It forbids a sense of disconnect from the professional sphere. Also, it reduces your opportunity cost, that is the amount of money you will not save as a result of taking off from work.
- A lot of organizations prefer to sponsor one-year management courses if the candidate agrees to re-join the firm and bring appropriate knowledge acquired over the program.
- For people who already own a business or have done an MBA, the accelerated program adds to their value and skills.
If you are looking for growth in the company you work for, as a priority in a one year MBA vs two year MBA; a one-year course is an excellent option for you to elevate your career prospects.
Advantages Of A Long Term Course
The compelling merit of a standard MBA is its duration which gives the students a noticeable period to progress and strengthens their understanding of the topics covered in the course. The one-year MBA course somewhat gives limited time to students to acquire a grip on the subject.
A two-year management degree ensures holistic learning as it teaches:
- Soft skills
- Leadership skills
- Comprehensive understanding of human resources, marketing, finance, accounting, etc.
- It renders opportunities and time for the students to build a strong network with professionals through the compulsory summer internship program. This in turn triples the possibility of getting better employment prospects for the students.
- The practice-oriented coursework is necessary for a deeper grasp of concepts. A one-year management course doesn’t allow it.
- The degree is fitted for any student from any field of study. From arts to media to engineering, a traditional 2-year course is for all whereas, in one-year programs, students must have a strong foundation in Mathematics and Economics to cope with the developments within the program.
- Some employers prefer to hire two-year graduates because firstly, they are supposed to have done a more comprehensive study, and secondly, they are likely to be familiar with all aspects of business activities.
Best Colleges for International MBA
List Of One-Year Course Colleges
- INSEAD, France
- IMD, Switzerland
- University of Cambridge- Judge Business School, UK
- SDA Bocconi School of Management, Italy
- IE Business School, Spain
- University of Oxford- Said Business School, UK
- Northwestern University- Kellogg School of Management, US
- Cornell University- SC Johnson College of Business, US
List Of Top Two-Year Course Institutes
- Stanford Graduate School of Business, US
- Harvard Business School, US
- The Wharton School, University of Pennsylvania, US
- London Business School, UK
- MIT Sloan School of Management, US
- University of Chicago Booth School of Business, US
- Columbia Business School, US
The decision to go for a one-year or two-year MBA is subjective. A professional who wants to advance his career and is not okay with taking a long hiatus from his career is better suited for an accelerated management program. A graduate with only a few years of experience looking for an international post-graduate degree will identify the typical MBA as a better fit. Both degrees will have a noteworthy impact on your CV and play a tremendous role in increasing your employability quotient.
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