One Year Vs Two Year MBA
– Why I went in for the 1 year Option
I had this daunting question to face after I got a 780 score in the GMAT. I knew that I could apply to pretty much any college, but after 5 year’s work ex, I was really doubtful about the two year full time courses.
The problem was that most of the top five colleges had only a two year course to offer (At least till a few years back).
I did some intensive reasearch, spoke to friends and colleagues and decided that a one year course would be best for me.
Applied to INSEAD and got an offer.
In hindsight, I think you should look at the following considerations before you decide on a two year Vs One year MBA programme.
1. Opportunity cost
A two year programme implies that you will NOT earn anything for two years, thereby you opportunity cost is double that of a one year programme.
2. Job Prospects
Seem to be quite independent of whether the course you do is a one year or a two year course. Provided of couse that the colleage is within the top 10 worldwide.
3. Work Ex
It is generally recommended to look at a one year course if you already have 4+ years of work ex. In my case for example, I had a work ex of about five years, so a one year course was a natural choice.
4. Market movements
If you look at the new programmes/colleges that are coming up around the world, you will notice that almost invariably, they are all One year or shorter programmes.
Probably the only reason that the Harvards and Whartons have not started their own one year programme is that it would severely cannibalize their existing two year programme.
If you have seen it all and are now sure that you want to become a Marketing Wizard or a Finance expert, then you could look at short one year courses in these areas rather than doing a generic MBA