One-year programs are dramatically different from their two-year counterparts. They usually have very strict prerequisites for either work background or academic training.
Program length is typically 11 to 16 months.
The program is shortened by:
- Reducing the time in core classes, or
- Limiting opportunities to specialize
- Students do not work full-time; school is considered the first priority.
- Relocation may be required to attend a one-year program that meets your specific needs.
One-Year, Full-Time Advantages
One-year programs offer several advantages, particularly for career enhancers (who wish to continue in the same job function or industry but at a higher level). These advantages include the following:
- A very specialized program can make full use of your current career or industry specialty and save you time in completing an MBA.
- You may be able to customize your course work through electives and concentrations, if the program reduces core curriculum requirements rather than elective content in order to decrease the duration of the program.
Other advantages include the following:
- The environment encourages learning far beyond classroom instruction.
- The spirit of competition and program intensity tend to be high.
- Full-time exposure helps to develop a cohesive network of MBA colleagues in your chosen field.
- A full immersion learning experience includes career services (such as campus interviews), social and professional clubs (often across areas of industry and functional preference), executive speakers' series, career counseling, and other campus life services.
One-Year, Full-Time Limitations
A one-year MBA program does present some limitations you should consider.
- Internship opportunities are limited because there are no extended breaks between semesters, which could especially hurt career switchers.
- Some employers who require an MBA for career advancement may not consider a one-year program a favorable option for earning the degree. You should be sure your post-MBA employer will be supportive before you choose this type of program.
Scholarships and Financial Aid
- Scholarship money may be available (get information from specific schools).
- Loan money is available for eligible full-time students.