One Year MBA vs Two Year MBA, Which one is for You?

Most MBA aspirants are under the dilemma of whether to pursue MBA or One year MBA. You need be very particular and wise while choosing the MBA program since it will boost up your career graph, salary, designation and accountability. Both the one year and the two year MBAs are equally well respected in the employment sector. However, it is really important to know what kind of MBA is really suitable as per your education, overall academics & work experience.

So here are some of the critical factors to consider before taking this important decision:

Admission Process:

One Year MBA:  Most of the B- Schools accept competitive exam scores also they accept other tests like CAT, XAT. However, it may not mandatory in all the institutes if you have a strong little work experience.

Two Years MBA:  This being the full time version of the MBA, Admissions happens on basis of CAT (Common Admission Test Entrance Exam) after that several rounds of a group discussion (GD) and personal interview (PI). Your academics also play a very important role in your admission process here.

Academic & Requirement:

One Year MBA:  One year MBA program is structured to be intense. You need to be good in able to handle the fast pace of this program. A strong mathematical, or economics, a background may be an added advantage.

Two Years MBA:  To enroll in this course, you don’t need to have a specific background. Students from any background or stream ranging from arts, commerce or science or IT can opt for this course.

Curriculum:

One Year MBA:  The candidates who join this course might have some experience but he / she wants to gain more knowledge and grow particular field. So these programs focus on a specialization – popularly MBA Marketing or MBA Finance.

Two Years MBA:  In this program during the first year, students get an opportunity to work on more topics such as accounting, finance, organizational behavior, economics, Marketing, Sustainability, Entrepreneurship, Project Management, and General Management etc. In the second year, they can select the subject they wish be specialized in.

Cost of the degree:

One Year MBA:  The Short term MBA is not offered by many & the cost of this course in top premier institutes can go up to 30 Lakh INR and typically start at around 6 lakhs INR. Most of these institutes provide education loan facilities from all nationalised banks and its pretty easy to get an education loan of you are a working student.

Two Years MBA:  In India, particularly MBA Colleges in Bangalore this program can cost you up to an average of Rs. 6-20 lakhs per year depending on the type of institute you choose and the type of MBA (Indian or International).

Return on Investment:

One Year MBA:  Return on investment depends upon how an individual uses his education after the completion of the program. The employee has to add value for his company. He needs to use his skills for the benefit of his current organization which may result in an increase in salary or got promoted to the next level. The one year specialisation program is respected in most large organisations.

Two Years MBA:  In India, the students get a very good return on investment if their scores are good. Campus placements with high paying jobs are well known even before completion of the program.

Career Goals:

One year MBA:  One year program applicants are very clear about what they exactly want from this program. They join this course with a very clear goal. This program is suitable for those who missed doing their MBA as a natural flow in their education or for working professionals who already have significant work experience in their respective field but crave for that one word in their CV which can make them more valuable. If you love your current job and want to accelerate in it in the shortest time then you must go for One Year Program.

Two Years MBA:  Students who are complete fresher or tend to have less work experience choose two-year traditional MBA program. Naturally this is like the continuation of education. In this duration, students get a chance to explore different electives. There are internships offered which is a very good opportunity for fresher students. If you are looking for a change in your career of work or want to switch current industry then Two Year MBA with an internship opportunity is also an opportunity to check out. Most of the Indian companies prefer to hire young graduates as a management trainee in their summer internship programs.

Work Experience:

One Year MBA:  In one year program, applicants need to have a minimum of 2 of experience which may be relaxed to 1 year in some cases. During the selection process, the admission committee will also check your academics & the quality of your work experience. So fresher are not entertained for this course. If you want to excel in your current work profile and looking for your next big promotion or you want to take your family business to the next level or want to start on then one year program is an ideal choice for you.

Two Years MBA:  In two year MBA programs there is no need for any work experience. The candidates are selected basis on their academic and MBA entrance test scores.

Internship:

One Year MBA:  Because of shorter formats, there is no internship option available for students who enroll for this course, however, most candidates who are working professionals have a crystal clear idea of what they planning on getting out of it. So internships become less important for them.

Two Years MBA:  Internship is a huge differentiator between one year MBA vs. two year MBA. Summer internships are a part of two year curriculum. This is a very good opportunity for students for networking with professional who are already working at the top level of big MNCs. It can help you to get the first job after successfully completing two year MBA program and also to understand how things work actually in corporate.

Break in Your Career:

One Year MBA:  This program is more like a pause in your career before a fast paced growth opportunity. There are multiple options like Part time, Online + Classroom, Distance etc so candidates can select the option as per their convenience. Most corporate sponsor their employees with a contract. So they can add a value to the company after completion of the course at better salary and designation.

Two Years MBA:  This program wants your complete dedication for two years. So it may require a career break. However, most candidates who join this program are fresher or looking out for a complete professional change.

Final Verdict:

One year programs are better for boosting your job profile. Two year programs are better if you are a complete fresher or less experienced or want to switch completely from the current profession. It is important to consider these factors and take the correct decision.