The United States is known more for the traditional two-year full-time MBA programs than the shorter one-year version. However, over the past few years, the number of applicants has been falling on account of rising costs and a number of shorter, less expensive options available in the market.
Increasingly, management students have been opting for the one-year MBA that has the same academic rigor along with similar employment opportunities and return on investment (RoI) as the two-year programs. At the same time, you need to spend less money by way of tuition and other expenses and also spend only about a year away from work.
Top 10 One Year MBA Programs in the US
Northwestern (Kellogg) is first in the list of the best one-year MBA programs in the US compiled by Poets & Quants comprising 24 programs at 22 schools.
Enrolment in the program went up from 128 in 2016 to 133 in 2016. The Median GMAT (80% range) in 2016 was 710 and the Average GMAT (80% range) was 710 in 2019. Women representation in 2019 was 31%. The tuition fee in 2019 was $101,288 and the estimated total expenses $140,366.
The accelerated MBA at Cornell Johnson is second in the list. It had 76 students in 2016. The class strength dipped to 66 in 2019. The Median GMAT (80% range) in 2016 was 690 that went up to 710 in 2019. Female representation in the class was 49% in 2019. The tuition fee in 2019 was $107,530 and the estimated total expenses $141,170.
Cornell Johnson’s Tech MBA is third with its 2019 class having 84 students with an average GMAT score of 693. Female representation was 31%. (Statistics for 2016 unavailable). The tuition fee in 2019 was $107,530 and the estimated total expenses $141,170.
Duke (Fuqua) is fourth. NYU (Stern) Tech MBA and Fashion & Luxury MBA programs occupy the fourth and fifth slots. Emory (Goizueta) is 6th followed by Southern California (Marshall) in the 7th position, Notre Dame (Mendoza) 8th, Southern Methodist (Cox) 9th and Pittsburgh (Katz) in the 10th spot.
Others in the One Year MBA Rankings
The other programs in the rankings are those offered by University of Florida (Warrington) 11, Babson College 12, University of Miami 13, Pepperdine (Graziadio) 14, Texas Christian (Neeley) 15, South Carolina (Moore) 16, Cincinnati (Lindner) 17, Hult International 18, Kentucky (Gatton) 19, Mississippi 20, St. Louis (Chaifetz) 22.
One Year MBA in the US: Fees & Other Expenses
The one-year MBA programs, despite fee hikes by the top schools, still remain less expensive compared to the 2-year MBA. You will be able to complete the studies in 70-80% of the costs even at Kellogg or Johnson. At present Kellogg’s one-year program fee is just $140,366 compared to $211,000 for the 2-year program.
Similarly, Cornell Johnson has pegged the one-year MBA fee at $ 141,000 and $190,000 for the 2-year program.
Ever since the downturn in applications for the 2-year programs began in 2016, the schools have started increasing the tuition fee. Kellogg raised the fee by $9,572 over the last three years, by about 10%. Cornell increased it by 19. 5% for its accelerated MBA in Ithaca, from $90,000 to $107,530. Emory University’s Goizueta Business hiked the tuition fee 18.3%, from $85,500 to $101,132. USC’s Marshall School of Business, effected a 15.8% increase, from $95,760 to $110,880.
Mendoza hiked the fee 11.9%, from $70,456 to $78,874 while at SMU’s Cox School of business, the tuition fee went up a whopping 21%, from $60,000 to $72,570.
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