There are so many decisions to make while applying for an MBA. Choosing between the one year and the two year MBA programs is a huge one. It can be a very confusing given that there are enough arguments supporting both the programs.
So, which one should you choose? Well, it depends. Each format has its pros and cons. It is up to you to weigh these advantages and disadvantages carefully to match your requirements. However, we can give you a detailed pros and cons list for one year and two year MBA.
One year MBA:
This shorter version of MBA is gaining popularity around the world. It is a very demanding program which needs tremendous dedication and commitment. However, you just have to do it only for a year. We bring you a comprehensive list of pros and cons of one year MBA.
Pros:
Advantage of time: The obvious one, it will only last for one year. Unlike a two year MBA, you are taking out only one year of your life for this program.
Cost Effective: MBA is an expensive affair; One year MBA programs are generally much cheaper when compared to two year MBA programs. If you have financial constraints you might take a look at one year MBA.
Faster return on Investment: However cheaper the one year course may be compared to the two year one, even a one year MBA is expensive. You start earning sooner in a one year program, which helps you to pay back the money faster.
Quick Break: Working professionals do not need to take a sabbatical; they instead can just take a one year break to finish their MBA. Also, most corporates who sponsor their employees’ education prefer to sponsor for the one year program.
Cons:
No internship experience: Internship is an integral to any MBA experience, one year MBA programs don’t have time to squeeze in an internship in the curriculum.
Less scope for networking: Internships give an amazing opportunity to get on the job experience, as well as make contacts and network. An intensive one year MBA program does not give much space to network.
Fewer Options: Though one year MBA is gaining popularity, many schools still don’t offer one year MBA. Therefore, if you are looking for one year programs your options for B-schools might be limited.
Extreme pressure: If you choose to pursue a one year MBA, be prepared for tight schedules and high intensive study timings. MBA itself is very demanding, when it is shrunk into one year it just gets worse.
Two year MBA:
This is a conservative version of MBA. Spread over two years this MBA program gives you breathing space for other activities. Most of the advantages and disadvantages are already covered in the one year program pros and cons. However, let’s take a look some specific pros and cons of two year MBA programs.
Pros:
More Inclusive: Generally, B-schools incline towards well experienced working professionals for a one year program as having an experience eases the pressure a bit. However, schools are more open to students from diverse backgrounds sometimes with little work experience. If you are a student, you are more likely to be accepted into a two year program.
Networking: Summer internships in two year MBA give you a chance to explore different options and build right networks.
Flexible: Two year programs are less intensive when compared to one year programs. You can be flexible with your schedule here and participate in more activities outside your program purview.
Cons:
Expensive: MBA cost includes tuition fees, accommodation, food and other expenses. Naturally, the longer you stay the higher will your expenses be.