Should I get a 1 year or 2-year MBA?

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Should I get a 1 year or 2-year MBA?

by MBAPrepCoach » Sat May 21, 2022 11:48 pm
I feel that in most cases, a 2-year MBA makes sense and I’ll elaborate on those reasons below. However, here are the people who could consider a one-year MBA.

• Sponsored candidates
• Family business
• Entrepreneur
• No internship needed to achieve goal
• No career pivot

Career goals

To consider a 1-year MBA, especially one without opportunities for fieldwork/internship, it’s critical to get VERY CLEAR about your career goals. If you spend less money on an MBA program and get back to work a year earlier, this is only a “win” if you achieve what you set out to accomplish in the first place.
I work with my clients on this and help them set up informational interviews with grads who have achieved a similar post-MBA goal. You must network to find out if an internship is necessary, if it will increase the likelihood of you achieving your post-MBA goal.

For example, if you are in financial services, an internship is pretty important. For investment banking, indispensable. But I also think it is valuable to do a summer associate position, to test drive consulting, or work at a start-up or get some sense of life as a Product Manager in tech, for example. A consulting internship used to be almost in dispensable (except for INSEAD) but now as there is a bit of a talent crunch, I’m hearing about 1 year Kellogg students getting offers.

Most candidates frankly do not have clarity regarding their goals, taking a ready/fire/aim approach hoping they will bump into their dream job in b-school. And of course, you discover a lot about yourself and your passions in the course of an MBA program. 2-year programs allow you the chance to re-recruit if the internship did not live up to your expectations. RE-RECRUITING HAPPENS OFTEN, I would venture to say it is the norm.

So, it saddens me for 1-year MBA clients to sign up for a job they haven’t tried on and be disappointed. With a one-year program you must look for a full-time job the minute your feet hit the floor. What if you don’t like it? Then the value proposition of an MBA has unravelled quite a bit. I like formats such as LBS and ESADE where they are customizable to your needs. LBS actually allows the possibility of 2 internships. HEC is 16 months, with 4 months of fieldwork or internship.

If you go with a shorter program, I recommend you stick with programs that offer an internship period. If applying to INSEAD, my preference is for January term unless you are absolutely certain about consulting because January term offers an 8-week internship period.

Stay true to your purposes of doing an MBA

The original intent was not to spend the least amount of money but rather the benefits – the upside – of what you hoped to get. Longer programs offer you deeper connections with classmates; the chance to do externships, study abroad, more time to explore and transform. This is likely to be your last chance to do this as a working adult.
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Re: Should I get a 1 year or 2-year MBA?

by Indrayani23 » Mon Mar 27, 2023 3:02 am
Choosing between a 1-year or 2-year MBA program is a decision that requires careful consideration. Both options have their advantages and disadvantages, and the decision should be based on your career goals, financial situation, and personal preferences. Here are some points to consider when deciding between a 1-year or 2-year MBA program:

Advantages of a 1-Year MBA:

Faster Completion: A 1-year MBA program allows you to complete your studies in half the time required for a 2-year program, allowing you to enter the job market sooner.

Lower Tuition and Living Expenses: Since the duration of a 1-year MBA program is shorter than a 2-year program, the total cost of tuition and living expenses is lower. Additionally, a shorter program means less time spent away from your job, resulting in less lost income.

Targeted Curriculum: 1-year MBA programs tend to have a more targeted curriculum focused on specific industry specializations or functional areas, making them ideal for professionals seeking to advance their careers in a particular field.

Intensive Learning: A 1-year MBA program offers a more intensive learning experience, where you learn more in a shorter period, with no long breaks, and get to immerse yourself fully in the program.

Advantages of a 2-Year MBA:

Comprehensive Curriculum: A 2-year MBA program offers a broader range of courses, providing you with a comprehensive understanding of business management principles and practices.

Internship Opportunities: 2-year MBA programs provide opportunities for summer internships, allowing you to gain valuable work experience and build professional networks while still studying.

More Time for Extracurricular Activities: The longer duration of a 2-year MBA program provides more opportunities for extracurricular activities, such as participating in clubs, attending networking events, and pursuing personal interests.

Career Switching Opportunities: A 2-year MBA program provides more time to explore different career options and make a career switch, as the broader curriculum and longer duration provide more opportunities to develop a diverse skill set.

All in all, both 1-year and 2-year MBA programs have their advantages and disadvantages. Your decision should be based on your career goals, financial situation, and personal preferences. If you're looking to advance your career in a specific field or industry, a 1-year MBA program may be the right choice for you. However, if you're looking for a broader business education or plan to switch careers, a 2-year MBA program may be more appropriate. Ultimately, the decision should be based on what works best for your personal and professional goals.