One Year or Two Year MBA program?
This is a question which would cloud the minds of many MBA hopefuls across the world. When I applied at Babson, I was quizzing myself on the same issue day-in day-out. After countless research, interaction with alumni and weighing the pros and cons of each program, I decided to join the One Year MBA program.
At Babson, they offer both a One Year and a Two Year MBA program. On the face of it, both programs seem to be identical in their structure and content. However, the biggest difference is the time taken to complete the program. A one year program starts in the summer and ends even before you realize it, whereas a two year program would provide some sanity to the proceedings in terms of spaced out schedules and much needed time to indulge in activities beyond the classroom.
The one year program is suited for individuals who have a good grasp of business fundamentals and are equipped to handle pressure situations. The two year program on the other hand can help in strengthening the core business principles and develop an understanding of running an enterprise.
It takes some doing to get used to the pace of the one year program, however, once there, the experience is worth the effort. Imagine yourself 13,000 feet up in the air about to skydive without a parachute. This is exactly the adrenaline rush that you experience while completing the program.
The most important reason for someone to join one of the two programs would be the golden words used in the financial industry ‘Return on Investment’ or ROI as it is fondly called. According to me (and as per some studies) the ROI for the one year program is definitely higher as compared to the two year program simply because you are away from work for a year and more importantly, the cost of the MBA is lower, which means that you will need less time to recoup the investment.
However, the one year MBA program is a fast track program and does not offer the opportunity to undertake an internship during the summer. This may not work for individuals looking to gain some corporate exposure, especially those without adequate work experience. The two year program on the other hand has an internship component to it which can be useful for recent graduates entering the program.
The one-year v/s two year debate can go as long as the world continues (i.e. till 12.12.12, supposedly when the world comes to an end) but in the end the decision will depend upon the career advancement and growth that the program provides to anyone applying for it.