Friday, March 22, 2013

1-year Full-time US-based MBA options (2013 update)

**7/2013 news**  The Cornell Johnson program is considering add a 1-year full-time option based in New York City. Read the Poets&Quants article here

While the 2-year full-time MBA remains the standard for a lot of applicants, more and more people are looking for viable 1-year full-time options for their MBA as they place a higher emphasis on the opportunity cost (i.e. foregone salary) of going to b-school. 

Europe has typically been the home of the 1-year MBA, with options such as INSEADIMDCambridgeOxfordESADEIERSMCranfieldWarwick, the LBS Sloan Masters in Leadership and Strategy and many others attracting the majority of applications for 1-year programs. 

There are some options worth looking into in the USA as well, and they are increasing in popularity. Here is a starting point for those interested in researching 1-year US-based MBA options.  Many of these programs are designed to attract older applicants who have more focused interests and less need for career-changing educational experiences. So, I have divided the list into 1-year programs aimed towards more experienced applicants, and 1-year programs aimed towards applicants of the traditional MBA age.

for more experienced applicants:

working experience: 10-years is required to apply
class size: about 100

(technically an MS in Management rather than an MBA)

working experience: 8 years is required to apply, and the average is 12 years
class size: about 80

working experience: the average is 10 years
class size: about 55-60

for MBA-aged applicants:

One thing that is stressed with most of these 1-year programs below is that you need to have clearly defined academic and/or professional goals. 

1-year students also sometimes miss out on key 2-year student experience, such as the summer internship. For instance, at Kellogg, 1-year students spend their summer on campus

In addition, Goizueta notes here than the ideal candidate for the 1-year MBA has earned an undergraduate degree in business or economics or has strong quantitative background in majors such as engineering or mathematics.

According to this blog posting, this program is apparently normally for individuals who already hold an advanced degree. However, with a CPA or CFA, you're eligible for admission even if you don't have an advanced degree.

working experience: 4 years (median)
class size: 45 (here is a link to the class profile)

working experience: the current class ranges in age from 23 to 35
class size: 80-90 (they expect to double or triple this number, read more at a Poets&Quants article here)

working experience: an average of 5+ years (compared to an average of 5 years for the 2-year program)
class size: 39

working experience: average of 5 years (the same for the 2-year MBA)
class size: 78

Boston University 1-Year International MBA

More details on the program can be found here. The program starts with 3 months in China.

Thunderbird 1-Year MBA Option

class size: not given (the MBA GM program overall has 548 students, as per this source)

Hult International Business School 1-year MBA

Admissions information is available here.

More reading:

If any readers would like to suggest other programs, email me!

John Couke