Unlike the 2-year programs, the 1-year MBA allows participants to acquire an equivalent degree in half the time and cost. The lost opportunity cost of staying away from work for a full two years is also reduced. The 1-year graduates are also able to command the same starting salaries as for those in 2-year programs. Several schools even report that their 1-year MBAs make slightly more than the 2-year graduates, mostly due to differences in work experience.

1. INSEAD

INSEAD, With three fully-integrated campuses in Europe, Asia and the Middle East, and more than 90 different nationalities in the classroom, prides in referring to itself as the ‘Business School of the World’. It has maintained the top rank for the second year in succession in the FT Global MBA Ranking 2017.

It claims that the 10-month curriculum is aimed at developing successful, thoughtful leaders and entrepreneurs who create value for their organisations and their communities.

The Fontainebleau-based school in France, with campuses in Abu Dhabi and Singapore, boasts of a 53,784-strong alumni community of 159 nationalities spread over 170 countries with 47 Associations.

While the program Tuition fees for the July Class are set in December each year, fees for the December Class are announced in June. The current tuition fees for the class graduating in December 2018 are €80,800.

It covers the cost of all printed course materials, access to the INSEAD library, access to on-campus information technology services, language tuition and testing, student council fees, gym access, business cards, printing and health insurance.

2. London Business School

LBS claims to have the world’s most flexible MBA customised to suit the participant’s individual interests and career path. It has flexible exit points, core courses that can be tailored to individual needs, 70+ electives and applied learning opportunities.

The LBS MBA is not exactly of one-year duration. Its curriculum is such that can be tailored specifically to support individual career paths with a choice to finish the programme in 15, 18 or 21 months.

The tuition fees for the batch starting in August 2017 are £75,100 Fees include all tuition and required core course reading materials which may be provided electronically and/or in hard-copy. The fees also cover the flights and accommodation for the Global Business Experience.

The fee for 2017/18 session is £52,000. This includes: Course fee, College fee and the Life-long Oxford Union membership

When considering the cost of an MBA, take into account the potential earning opportunities of summer internships and the optional Business Project while studying.

3. Cambridge Judge Business School

The Cambridge Judge MBA is ranked 5^th by FT in 2017, up from the 9^th spot in the previous year. Its 1-year program offers in-depth learning and personalised career development services. The class size is kept at 170, an optimal number to enhance peer-to-peer learning. The program focuses on experiential learning, with two live client projects to enable global and cross-sector career mobility for the graduates.

The fees for the class of 2017/18 are £51,000 (includes the £2,470 college membership fee). There is also an application fee of £150. Additional costs would be in buying a laptop, a UK mobile phone or a bike and the like, travel expenses and utility bills for those opting to stay in private accommodation.

4. Oxford Said

Oxford Said claims that its MBA provides a solid grounding in the major business disciplines and core business skills. The faculty comprise world-class experts in their fields and they develop courses based on up-to-date best practice and the latest academic research.

The School also has an extended and strengthened talent development program. All MBA students will be provided with professional coaching and a suite of optional courses to help develop interpersonal, communication and team work skills.

The fee for 2017/18 session is £52,000. This includes: Course fee, College fee and the Life-long Oxford Union membership

Applicants who are offered and accept a place on the course are asked to pay a non-refundable deposit of £7,300 which will be offset against their course fee.

5. IE Business School

Participants at the Madrid-based IE Business School’s International MBA are in the average age group of 29 with 5 years average work experience. The program is designed for professionals looking to consolidate their management experience. Since the students come from different backgrounds and nations, a truly international experience is created allowing them to build a global network of contacts.

The IE International MBA tuition fee is 69.200€. The School also awards tuition funding assistance based on merit, distinctive competencies and academic excellence.

6. IMD

The IMD MBA is offered at the school’s campus in Lausanne, Switzerland. The 1-year program that runs from January to December is designed to ensure that the students master the fundamentals needed in business today and increase the self-awareness.

The Tuition fee is pegged at CHF 60,000 along with other fees amounting to CHF 25,000. The approximate living expenses for a single person will be CHF 36,000. This estimate includes housing: CHF 18,750 and living expenses: CHF 17,250. For those having not met the objectives of IMD’s pre-program self-assessment in Accounting and Finance, will need to complete a three-day immersion program at the start of January. The fee will be CHF 750.

7. Northwestern University’s Kellogg School of Management

Kellogg is one of the school’s in the US with an accelerated 1-year program that starts in June. According to the school, the program begins in summer to allow the students get accustomed to the rigorous academic pace of MBA studies and complete three to five courses. In September, they will join the second-year Full-Time Program class and complete the electives that match their interests and enhance career goals.

Apart from having a choice of 200 courses, the students could bypass core courses and focus on the electives that best meet their career goals. They could either delve into a select number of disciplines or go as broad as they like. The program fee is $ 95,156 with total estimated expenses that include room & board, books & supplies and travel pegged at $ 133,720.

8.Cornell SC Johnson College of Business

The 1-year program follows the same pattern as Kellogg’s kicking off in summer and completing three to four courses prior to joining the 2-year cohort in September to complete the electives. Here again, with a strong inclination towards Finance, qualified Chartered Financial Analyst, Certified Public Accountant, Institute of Chartered Financial Accountants (U.K. and India version of CPA), Society of Actuaries, Project Management Institute (PMP) are awarded credits at the start of the program.

Advanced degrees eligible for credit include, but are not limited to J.D., M.D., Meng, MHA, MPA, Med, M.A., M.S and PhD. The Tuition fee is $ 98,940.

9. University of Southern California Marshall School of Business

The 12-month program at USC’s Los Angeles Campus from July is designed for mid career professionals training for global leadership positions. The small class size is limited to 60 diverse and globally focused participants. The average age of participants is 35. The estimated total tuition and fees amount to $104,068 and estimated living expenses will be $35,000.

10. F.W. Olin Graduate School of Business at Babson College

Babson’s accelerated one-year MBA program requires what the school calls “a substantial academic background in business.”

Long known as a top place to study entrepreneurial thinking, brings in nearly 80 students a year to its one-year program, about half the size of its more traditional two-year MBA.

With a high percentage of one-year students, about 46% from outside the U.S., the student body is more global than most.  The Tuition is pegged at $80,167 and Total Estimated Cost: $116,747.

The research was aimed at making a beginning in understanding and trying to dismantle the echo-chamber effect.

“Social media has a tremendous effect on the minds of the masses and a tremendous responsibility to help educate us,” the Kelloggs Insight blog quotes him as saying.

“Social media makes fake news real news—and has squarely helped to bring us into an era of truthlessness and ‘alternative facts,” he adds.

Meanwhile, the algorithms social-media sites use to deliver personalised content also plays a role in ensuring that users get to see only information that agrees with their beliefs. However, how much does a user’s own behaviour lead to the formation of online echo chambers?

The researchers took up a massive database of 12 million users of Facebook and Youtube. His team comprised Alessandro Bessi, Fabiana Zollo, Michela Del Vicario, Michelangelo Puliga, Antonio Scala, Guido Caldarelli, and Walter Quattrociocchi of the IMT School for Advanced Studies, Lucca, Italy.

Specifically, the research team looked at the “likes,” shares, and comments garnered by particular videos that were hosted on Youtube but also embedded on 413 different Facebook pages.

Ironically, when the Internet started operationg, lots of observers and scientists thought that accessibility to all this new information would make everybody smarter.

The team divided videos into two categories. Those appearing on Facebook pages like Illuminati Mind Control, Exposing Satanic World Government, and Doctors Are Dangerous, pages that served up controversial information without supporting evidence, were put into a “Conspiracy” category.

Videos that appeared on pages like Scientific American Magazine, the National Science Foundation or NASA, pages that promoted scientific knowledge and rational thinking, were put in “Science” category.

Next, they compared user consumption patterns of these videos on both the social media platforms. The posts and their associated user interactions from January 2010 to December 2014 were examined to assess how a particular user’s interactions with the two types of content changed over a period.

The findings revealed that on both platforms, some users only interacted with Conspiracy content, and some only with Science content. Other users, who initially interacted with both Conspiracy and Science content rapidly switched to interacting only with one or the other.

Regardless of how they started, nearly all of the users became highly polarised. The researchers defined this as happening when more than 95% of their comments, shares, and “likes” were for a single category of content. In fact, 93.6% of Facebook users, and 87.8 % of YouTube viewers fell into this category.

Prof. Uzzi says it was the speed with which users became polarised that was most astonishing. For the users who started out interacting with both Conspiracy and Science videos, “we thought they would continue to look at a variety of content. But it turned out they quickly became very selective.” This change took place roughly by the time they made their 50th comment, share, or “like,” he adds.

“Even people who start out holding two points of view at the same time can very quickly go into an echo chamber,” he says.

In effect, changes in the media content people consume could quickly affect their beliefs. Facebook, YouTube and other media are constantly adjusting what users see based on what they have clicked on in the past. “Adjusting content in a particular way can lead people to make flash judgements and then hold onto those judgements, even when there is alternative information out there,” Prof. Uzzi says.

Once in an echo chamber, users do not want to come out. Once polarised, users tend to become even more so. “Inside an echo chamber, the thing that makes people’s thinking evolve is the even more extreme point of view. So you become even more left-wing or even more right-wing because the loudest voice is the thing that drives people in a certain direction,” he adds.

While debunking the false information may seem to be the solution, polarized social-media users do not seem interested in engaging with content that might contradict their beliefs. Such posts in fact, make them to cling to their positions even more fiercely.

An earlier study by some of the same Italian researchers on the commenting behaviour of more than 9 million Facebook users who were polarized to conspiracy-type thinking found that only about 100,000 of them had commented on a debunking post. And those who did interact with the debunking content tended to react by upping their activity on conspiracy-related Facebook pages.

Attempts to help social-media users escape their echo chambers have been launched recently. FlipFeed, a plug-in allows users to replace their own Twitter feeds with those of random, ideologically different strangers, and Escape Your Bubble, a plug-in that inserts opposing political views into users’ Facebook newsfeeds.

Ironically, when the Internet started operationg, lots of observers and scientists thought that accessibility to all this new information would make everybody smarter. “The idea was that since people wouldn’t have to go to a library and dig through old magazines to get information, they would explore the validity of other people’s points of view. They would do fact-checking, they would listen to both sides of the argument, and so they would get to the truth about the facts more quickly,” Prof. Uzzi says. However, that has not happened so far.(Image Source:Google.com)

Matthew Merrick, Associate Dean of MBA operations, says both the cohorts share the same “Kellogg experience” with focus on the customer and getting students to work in a collaborative environment.

But what’s so special about the program? Several, in fact. For one, it offers a flexible curriculum allowing the students to choose from over 200 courses to suit their individual needs. The classes are also small, ensuring a closer knit community.

One of the oldest among the 1-year programs in the US, the classes start in June. Students get accustomed to the rigorous academic pace by finishing three to five courses in the summer itself.

In September, they join the second-year Full-Time Program class and complete the electives that match their interests and enhance career goals.

After completing the required 15.5 course credits, the students will  receive the MBA degree in June, all within a year.

Bypass Core Classes

Kellogg’s One-Year MBA also allows students to bypass core classes and immediately go into advanced studies that are customized to individual career goals.

The summer quarter begins with required courses in Strategy and Management and Organization and is supplemented with courses in Accounting and Finance appropriate for the student’s level.  Accounting and Finance courses may be waived with successful completion of an exam.

Options Galore

The flexible curriculum is tailored to fit the student’s needs and future plans.  The school catalogue has more than 200 courses that constantly evolve keeping with the business landscape.

Students have the option to choose from seven majors: Accounting, Economics, Finance, Marketing, Operations, Strategy and Managing Organizations. A major requires that a student complete the core course for the major and a minimum of four electives. If they choose not to   elect a major, “General Management” will be noted on their transcript.

In addition to majors, Kellogg provides “pathways” to our students who are interested in building expertise in emerging areas and evolving industries. These include Data Analytics, Entrepreneurship, Growth and Scaling, Health Enterprise Management, Real Estate, Social Impact and Venture Capital & Private Equity.

The 1-year cohorts get the attention and tight-knit community of a smaller school over the summer. In the fall, they are able to take full advantage of the several organizations, classes and large network that are only available at a school as large as Kellogg.

Class of 2016

The 1-year accelerated MBA program of Kellogg School of Business class of 2016 comprises 128 students equally divided at 50% between US citizens and international participants.

They have an average work experience of 5 years with work experience in the range of 2-11 years. The international students come from 22 countries. Sponsored students comprise 29% of the class.

In Geographic distribution by citizenship, while 50% are from the US, students from Asia form the largest bloc at 30% with East and Southeast Asia contributing 16% and Central and South Asia 14%. Mexico, Caribbean and Latin America add up to 12%. Europe comes next at 3% followed by Canada and Africa with 2% each and Middle East 1%.

Industry-wise, 32% of the class has Financial Services background, followed by Consulting at 31%. Consumer products occupy the third spot at 14%.

While the total cost for a two-year MBA (tuition plus living expenses) is more than $186,000, the one-year program is nearly $60,000 cheaper at around $128,000.

More than 1,000 students graduated from this year’s class, including 300 Part-Time students, 119 One-Year students, 463 Two-Year students, 51 MMM students, 44 PhD students, 21 JD-MBAs and 2 MD-MBAs.

Their post-graduation plans varied. Some are traveling abroad, beginning new careers, returning to previous companies or finding new opportunities. But many said they would miss the relationships built here at Kellogg. “It’s very life-changing,” said Alice Garabrant ’15, a Two-Year graduate, “and the people you got to do it with become incredibly close friends.”

Graduates thank friends and faculty

As he prepared to head off for Convocation, Jeff Branham, a military veteran who spent time with the U.S. Air Force, echoed that statement, noting that he’ll miss the community and camaraderie he developed with his classmates.

“Nine hundred of your peers are all here on the same mission,” said Branham, a Two-Year graduate from Boston who will stay in the Chicago area and work for Deloitte. “I’ll miss the folks around me who have the same drive and purpose. Kellogg does a great job at finding folks who align with that.”

Others, like Part-Time graduate Marvin Smith ’15, said they would miss the rigorous coursework and schedule, which forced him to become more disciplined with his time. But Smith, who was named a Youn Impact Scholar this year, looked forward to working in the field of social impact consulting, with a focus on improving public education.

Dean Sally Blount ’92 asked graduates to find ways to make a social impact, be it through investing, leadership or setting an example to others. “The sole purpose of a corporation is not to maximize profits for its shareholders and owners,” she said, urging the newly minted alumni to create companies and investment pools that bring social good to the forefront.

“I know that I have the skills and the drive to make it happen and create opportunities for those who are underserved,” said Smith. “Kellogg helped to push the boundaries of potential solutions out there.”

Jasleen Bhasin ’15, a native of Delhi, India who will head to San Francisco for a consulting job, thanked the faculty in preparing her for the next stage of her career. She cited Kellogg professor Gad Allon, in particular, who “was the reason I ended up with an operations major even though I didn’t plan to,” she said.

Making an impact 

During the program, faculty members offered some final words of wisdom to the outgoing class. Keynote speaker Miles White, CEO and chairman of Abbott Laboratories reminded graduates to, “draw on your own code of values to solve, to decide and to lead.”

And in her final address to the Class of 2015, Dean Sally Blount ’92 asked graduates to find ways to make a social impact, be it through investing, leadership or setting an example to others. “The sole purpose of a corporation is not to maximize profits for its shareholders and owners,” she said, urging the newly minted alumni to create companies and investment pools that bring social good to the forefront.