With the fast-pacing lifestyle, one year MBA programs have drawn much attention among students who want to get an MBA degree quickly. This has resulted in the European MBA programs like INSEAD and Oxford (conventionally of one-year duration) to move up in the business school rankings, along with premier business schools like Kellogg & Duke Fuqua School of Business have begun to offer MBA programs of 1-year to lure more enrollments.
Benefits of a One Year MBA
Apart from the typical benefits of an MBA course, listed below are a few advantages of 1-year MBA programs over the old-school 2-year MBA programs:
Same credentials as a Two Year MBA in half the time
Yes, a 1-year MBA program indeed serves the same MBA credentials in half the time, that too at a considerably lower cost.
Also Read – What MBA To Select?
Lower Opportunity Cost
The opportunity cost because of leaving a job is comparatively much lesser in a 1-year MBA
then in the 2-year traditional MBA programs.
A 1-year MBA program will cost less than a 2-year program. Even though the difference is not as high as half but a 1-year MBA program costs on average 60-70% that of a 2-year MBA program.
Encouraging Starting Salaries
Due to the difference in work experience, the graduates of 1 year MBA programs are offered handsome starting salary, mostly similar but sometimes even more than the 2-year MBA program graduates.
Direct placements in middle to senior roles
The one-year MBA graduates are offered positions in middle to senior management providing them immediate access to clout needed to witness their plans and vision through a competitive corporate environment.
Disadvantages of a One Year MBA
Lack of Summer Internships
There are always two sides to a coin, and the same goes with 1 year MBA programs. With several advantages of a one-year MBA program, there exist some disadvantages too, one of which is missing out on summer internship opportunities. Internships are mostly the judging criteria for recruitment and can be extremely helpful in securing full-time employment opportunities.
The speed of learning in a one-year MBA program is substantially faster in comparison to traditional MBAs’ of 2-years. This might pose challenges to some students.
One more point of difference between European one-year MBA programs and similar programs in the US remains that American business schools usually require an undergraduate business background or the completion of particular core prerequisites.
Such as, for the Kellogg 1-Year MBA program the following course areas are required to be completed by enrollment in June:
Moving on, as we already know about the pros and cons, let’s understand the elements to consider in judging if a one-year program is suitable.
One Year MBA Vs. Two Year MBA
Below are the two most significant elements to consider in judging if a one-year MBA program suits you:
- Career Goals
- Previous Undergraduate Experience
A one-year MBA program might not be the one for students seeking to make an industry or career change due to the lack of summer internship opportunities.
But, if you are keen to step into a leadership role, work upon your undergraduate business background and fetching advantage of the different electives that business school provides, then a 1-year MBA program suits you perfect.
If you’re not taking the help of an MBA to transform your career and are interested in remaining in a similar or the same industry, then the one-year MBA programs turn to be more fascinating.
Let’s take a tour through the differences between a One-year MBA program and a two-year MBA in detail:
The Best International MBAs: One-Year Programs
Top 50 One Year MBA Programs As Per Financial Times Global MBA Ranking 2021
|S.No||Rank in 2021||School name||Country, by primary campus|
|1||1||Insead||France / Singapore|
|2||4||Iese Business School||Spain|
|3||6||Northwestern University: Kellogg (offers 1 Year Option)||US|
|4||7||Ceibs (offers 1 Year Option)||China|
|6||9||Duke University: Fuqua (offers 1 Year Option)||US|
|7||12||SDA Bocconi School of Management||Italy|
|8||14||National University of Singapore Business School||Singapore|
|9||15||Cornell University: Johnson (offers 1 Year Option)||US|
|10||16||University of Cambridge: Judge||UK|
|11||17||University of Oxford: Saïd||UK|
|12||19||IMD Business School||Switzerland|
|13||20||Esade Business School||Spain|
|14||22||HKUST Business School||Hong Kong SAR (China)|
|15||23||Indian School of Business||India|
|16||24||University of Southern California: Marshall (offers 1 Year Option)||US|
|17||29||HKU Business School||Hong Kong SAR (China)|
|18||30||Alliance Manchester Business School||UK|
|19||32||Warwick Business School||UK|
|20||35||Indian Institute of Management Bangalore (EPGP)||India|
|21||37||Nanyang Business School, NTU Singapore||Singapore|
Jobs & Salaries
Generally, the pass outs of One-year MBA programs gets employed in more senior roles compared to the graduates of two-year MBA programs, the reason being their greater work experience at the time of joining the course.
Also Read – IMD’s MBA Class of 2019 – Batch Profile
Given below are the Salary statistics at the top One-year MBA programs, attached with the percentage increase in salary, according to the Financial Times.
|S.No||Rank in 2021||School name||Country, by primary campus||Weighted salary (US$)||Salary percentage increase||Career progress rank||Aims achieved (%)||Overall Satisfaction|
|1||1||Insead||France / Singapore||188432||96||27||88||9.3|
|2||4||Iese Business School||Spain||166811||131||5||89||9.84|
|3||6||Northwestern University: Kellogg (offers 1 Year Option)||US||190975||102||25||89||9.43|
|4||7||Ceibs (offers 1 Year Option)||China||178558||156||8||86||8.91|
|6||9||Duke University: Fuqua (offers 1 Year Option)||US||177895||121||52||89||9.47|
|7||12||SDA Bocconi School of Management||Italy||155475||126||57||82||9.42|
|8||14||National University of Singapore Business School||Singapore||160729||138||42||87||8.8|
|9||15||Cornell University: Johnson (offers 1 Year Option)||US||174098||128||48||89||9.73|
|10||16||University of Cambridge: Judge||UK||167610||87||15||89||9.11|
|11||17||University of Oxford: Saïd||UK||151895||85||20||89||9.03|
|12||19||IMD Business School||Switzerland||160768||68||12||90||9.4|
|13||20||Esade Business School||Spain||143721||113||19||88||9.25|
|14||22||HKUST Business School||Hong Kong SAR (China)||151758||109||22||86||8.68|
|15||23||Indian School of Business||India||161349||173||21||85||8.98|
|16||24||University of Southern California: Marshall (offers 1 Year Option)||US||164519||118||45||90||9.33|
|17||29||HKU Business School||Hong Kong SAR (China)||133311||127||24||84||8.67|
|18||30||Alliance Manchester Business School||UK||130695||101||11||88||9.14|
|19||32||Warwick Business School||UK||128752||76||50||84||8.87|
|20||35||Indian Institute of Management Bangalore (EPGP)||India||171903||127||18||83||9.18|
ROI Of A One-Year MBA- Is It Worth A Shot?
The major selling point of one year maybe happens to be its ROI. The program came into existence due to the demand of accumulating knowledge quickly and get back to the workforce to apply that knowledge and reimburse the pockets as soon as possible.
One year MBAs are mostly 12 months long, some are 10-11 month long, while the shortest duration is 7 months in a program offered by the University of Miami. However, even the most expensive programs like the ones from Kellog School of Management of Northwestern University or Cornell University’s Johnson Graduate School of management cost around 70% and 80% of the fees of two-year full-time programs at their respective schools.
For instance, the complete program of one year by Kellog’s costs approximately $140,366 while the 5th ranked Kellog full-time 2 years MBA programs cost around $211,000.
At Cornell, a one-year MBA program via Ithaca, New York-based program or the Tech MBA in New York City costs about $141,000 and the two-year MBA program in Ivy League school costs around $190,000.
Moreover, the salaries too can be compared to that of a two-year MBA program. Mostly, as per reports there occurs an increase between 80-150% in the salary after completion of the course, according to FT Global MBA Ranking 2021.
Considering the lower cost of the course, the ROI from a one-year MBA is significantly positive.
Best One Year MBA Programs in the world
Top 1-Year MBA in Europe | France, UK, Switzerland, Spain
this data is to be updated in round 2
INSEAD (France, Singapore):
The one that believes itself to be “the business school for the world” organizes a one-year MBA program in its Fontainebleau, Paris campus, and Singapore campus with an elective course at Abu Dhabi. The reason behind this firm belief lies in the fact that 90% of its faculty, as well as students, are international.
INSEAD has been picked up by Forbes as the greatest return of Investment for students with an average annual salary of $167,000 a year (three-year gain), 96% more than their pre-MBA earnings, in comparison to a program fee (€73,000, or $81,000, for the class graduating in December 2017) which counts to be much less than the tuition for a typical two-year MBA program.
The faculty of INSEAD comprises early 150 impactful teachers. The Career Development Centre, run by 40 committed professions hosts around 250 recruiting companies annually on each of the three campuses.
London Business School (England, UK):
Surrounded by global business organizations, the London School of Business enjoys a unique benefit of esteem guest speakers visit often to address the students.
Students can pick to complete the full-time MBA course in 15 or 21 months. 93% of this school’s graduates earn offers within 3 months of course completion, all thanks to LBS’s reputation and convenient access to a global network of recruiters.
The tuition fees in August 2016 for the MBA course was £70,800 ($92,600) while after completing the course, the average salary was $154,150 (an increase of 100 percent).
Judge Business School (England, UK):
MBA students from more than 40 nations indulge in collaborative projects with high-tech start-ups and multinationals, at the University of Cambridge.
Reputed guest speakers deliver lectures on program-specific topics, as a part of the “leadership”. Students are allowed to pick sector-based subjects that can enhance their skills in their chosen area. A personal development program is also run by the school.
The tuition fees in 2017/18 for the MBA course was £51,000 ($67,000) while after completing the course, the average salary was $156,300 (an increase of 95 percent from pre-MBA salary).
One Year MBA Programs in USA : Application Deadlines 2020-2021
|Application Window||Early Action||1st Round||2nd Round||3rd Round||Rolling-Admissions|
|Kellogg 1-Year MBA||N/A||16-September-2020||6-January-2021||7-April-2021||N/A|
|Duke Fuqua Accelerated MBA||N/A||20-October-2020||7-January-2021||25-March-2021||N/A|
|Cornell accelerated MBA||8-September-2020||8-October-2020||5-January-2021||8-March-2021||N/A|
|Notre Dame (Mendoza)||15-September-2020||13-October-2020||12-January-2021||23-February-2021||6-April-2021|
One Year MBA Programs – Europe : Application Deadlines Earliest 2020-2021
|Business School||Earliest Deadlines||Interview Notification||Decision||Essay Release|
|HEC Paris||Aug. 14, 2020 (R7-Jan. 2021 Intake)||Early Sept.||Sept. 18, 2020||Yes|
|HEC Paris||Sept. 14, 2020 (R8-Jan. 2021 Intake)||Early Oct..||Oct. 16, 2020||Yes|
|INSEAD||Sept. 11, 2020 (R1- Sept. Intake)||Oct. 16, 2020||Nov. 20, 2020||Yes|
|NYU (Stern)||Oct. 15, 2020 (R1)||Rolling||Jan. 1, 2021 (Initial Notification)||Yes|
|HEC Paris||Oct. 14, 2020 (R9-Jan. 2021 Intake)||Early Nov.||Nov. 20, 2020||Yes|
|Duke (Fuqua)||Oct. 20, 2020 (R1)||Nov. 10, 2020||Dec. 18, 2020||Yes|
|Rice (Jones)||Oct. 16, 2020 (R1)||Rolling||TBD||Yes|
|Columbia||April 9, 2021 (Regular Decision)||Rolling||Rolling||Yes|
|NYU Stern (Tech & Fashion MBAs)||Nov. 15, 2020 (R2)||Rolling||Feb. 1, 2021 (Initial Notification)||Yes|
|Cambridge (Judge)||Sept. 7, 2020 (R1)||Oct. 18 & 19||Rolling||Yes|
|HEC Paris||Nov. 16, 2020 (R10-Jan. 2021 Intake)||Early Dec.||Dec. 18, 2020||Yes|
|NYU (Stern)||Nov. 15, 2020 (R2)||Rolling||Feb. 1, 2021 (Initial Notification)||Yes|
|Cambridge (Judge)||Oct. 19, 2020 (R2)||Nov. 29 & 30||Rolling||Yes|
One Year MBA Programs fee in Europe (France, Germany, UK)
|Business School/ University||Tuition Fees (In USD )||Tuition Fees in Euro|
|Vlerick Business School||$43,655||€39,000 +2.63%|
|Mannheim Business School||$44,215||€39,500 0.00%|
|Cranfield School of Management||$49,909||£39,000 0.00%|
|Copenhagen Business School||$50,691||kr.330,000 0.00%|
|Warwick Business School||$51,764||£40,450 +1.25%|
|Alliance Manchester Business School||$56,307||£44,000 0.00%|
|Cass Business School||$56,307||£44,000 0.00%|
|Rotterdam School of Management||$60,445||€54,000 +3.85%|
|IMD Business School||$61,904||Fr.60,000 0.00%|
|SDA Bocconi||$66,042||€59,000 +3.51%|
|Imperial College||$68,464||£53,500 +2.88%|
|Cambridge (Judge)||$72,943||£57,000 +3.64%|
|Oxford (Saïd)||$76,130||£59,490 +4.00%|
|IE Business School||$80,818||€72,200 0.00%|
|HEC Paris – (January intake)||$81,153||€72,500 +4.32%|
|HEC Paris – (September intake)||$81,153||€72,500 +4.32%|
|INSEAD – (September intake)||$97,384||€87,000 +1.75%|
|INSEAD – (January intake)||$99,623||€89,000 +2.30%|