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One-year vs two-year MBA dilemma

DNA

Are you pursuing an MBA this 2017 but confused between a one year and a two year program? One year programs are better for boosting or fast-tracking your current career path. Two-year programs are better if you have non-traditional work experience, or are looking to switch roles or industries altogether. However, it is important to contextualise the following factors and assess how your specific needs/path fit with the one- or two-year program.

1.Your Profile: If you have had more than four to five years of experience, stick to your current industry, sponsoring company or family business, and are looking at the MBA to leverage your efficiency and effectiveness with your current assignments, then the one-year program is probably a better option for you. If you are not sure about what you would move into post your MBA, or if, you are willing to switch industries, the two-year program is obviously a better option.

2.Summer Internship: If you are looking forward to switch careers or looking for a different role within the same industry, the summer internship between the first and second year of a two-year MBA is quite crucial, and can lead to your first full-time job in the industry post-MBA. But again, if you have already established yourself as a professional in the industry you hope to build a career in, the summer internship is not that important as it is while you decide to switch. For both programs, if you are willing to go for a pre-MBA internship then be clear about your plans after the program.

3.Experiences, Extra-curriculars and Exchange Programs: Beyond the classroom, both programs offer a wide range of opportunities to participate. If you are sure about your career goals, you can maximize your engagement with real-world projects and competitions. In the two-year program, you get to do this at a lesser pace. You get an opportunity to network for longer, play along with your interests, study various papers and experiment, and work on your passion, owing to the ample amount of time. You may also get more options for MBA exchange programs with other top schools globally, resulting in access to alumni networks and job prospects.

4.Subject Specializations: You may want to consider subject specializations which many schools offer, from finance and analytics to healthcare and sustainability. If you are interested in a specialization, the two-year program is a better option because you have the time to delve deeper into this subject, engage in research projects or write cases with professors in your second year.

5. Cost, Opportunity Cost and Jobs: The one-year MBA is definitely cheaper, both in terms of how much it would cost, as well in terms of the amount of time you are spending outside the workforce generating an income. However, you are saddled with job searching while trying to maximize your MBA experience, which can be overwhelming. So if your fit is better aligned with the two-year program, do not opt for the one-year program solely because of this factor. It is important to note here that your recruiting potential as an alumnus – that is, your potential to find not just gainful, but also high-quality, employment within six months of graduation and a subsequently strong career trajectory – matters to a number of top business schools. Research your schools thoroughly to see how much this factor weighs in their application evaluation process.

(The author is founder and CEO, ReachIvy.)

ABOUT THE COMPANY

ReachIvy is a premium education and career advisory that helps aspiring students get accepted into top tier educational institutions globally. We have successful admits at MIT, Columbia, Harvard, University of Pennsylvania, London School of Economics, University of Michigan, Oxford, University of Chicago amongst others.

Vibha Kagzi, Founder and CEO, ReachIvy, holds an MBA from Harvard Business School, and a Bachelor of Science from Carnegie Mellon University. She has also pursued courses at the University of California, Berkeley, the London School of Economics and the Indian School of Business.

Our global team of counsellors have also acquired their degrees from premier institutes and are passionate about sharing their experiences with students worldwide.