What's right for me - 1 year or 2 year MBA?
After giving the GMAT, a lot of students are confused whether to go for a 1 year or a 2 year MBA program. It needs to be understood that this has to be a very personal decision depending upon one’s unique journey so far and his aspirations out of the program.
The following considerations should be kept in mind while deciding upon the same:
1.Years of work experience:
somebody with higher range of work experience would have to forego a greater salary and would like to return to the job market quickly enough. Such people tend to go for a 1 year program more often.
For people desiring a drastic shift in the industry/function, a 2 year program offers greater opportunity to hone new skills and intern in the new industry of their choice while such choices would be very limited in a 1 year program. However, I have seen many people making drastic shifts in a 1 year program as well, but the number is much lesser and it depends on how easily can you transfer your skills to the new role.
3.Country of MBA:
most of the US schools offer a 2 year program whereas most European schools have a 1 year program. However, many US schools have also started offering 1 year programs lately.
4.Fee and Living Expenses:
2 year programs are costlier in terms of the academic fee that has to be paid for 2 years as well as living expenses (that are significant in countries like the US) that need to be incurred for 2 years.
5.Visa Policies:Many countries like Australia offer extended Visa stays after a 2 year program, but not after a 1 year program.
Summarizing, there are excellent B schools in both the categories, and one should consciously decide keeping in mind the factors outlined above.
Mohit GeatIndian School of Business (ISB)