Most Popular Cities, Sectors For MBAs

What is the Right Length for a Full-Time MBA Program?

“Two is better than one.”

That principle certainly applies to kidneys and quarterbacks. Until recently, it was the conventional wisdom of business schools too. Students needed to complete a two-year curriculum, educators thundered. And they backed up their case by citing all the best practices and research to cover; the developmental value of summer internships, clubs, and overseas outings; and the need for students to reflect and explore.

As some MBA programs have degenerated into the final hurrah of puberty – a two-year beer run broken up by case studies and group projects – some wonder, “Can’t we squeeze an MBA into one year instead?”

It makes sense financially. After graduation, students find themselves sandwiched between six-figure loans and the accruing interest on credit cards. Academically, there is often overlap in undergraduate content and professional experiences. After taking their two-year “sabbatical,” some MBAs find themselves out of touch, making them less valuable after graduating than when they entered.  Wouldn’t it be better for students to get back to work sooner rather than later?

In many ways, that’s the contention of Matt Symonds, chief editor of MBA50.com and a director at Fortuna Admissions. In his most recent Forbes column, Symonds presents some alternatives to the standard two-year program.

Certainly, the stats reflect a shift away from two-year programs. Last week, the Graduate Management Admission Council (GMAC) reported that GMAT test-takers who submitted their scores for two-year programs dropped nearly 22% between 2012 and 2013. In its place, students have begun seeking a one-year alternative. And schools have responded. Symonds notes that “Cornell’s Johnson School, Emory’s Goizueta, and USC Marshall are also offering an accelerated one-year program to scoop up those worried about staying out of the real world of work any longer than necessary.”

And keep pace is a big part of a one year program’s appeal according to Kathleen Dolan, MBA Director at the University of South Carolina’s Darla Moore School of Business. “A one-year MBA program makes sense for U.S. students more than ever – with volatile markets and an accelerated pace of change across industries, the time out to pursue a shorter degree decreases risk while maintaining all the benefits of the more traditional degree model.”

Even more, the one-year program fits students who know where they’re heading and want to focus on broadening their skill base. “A one-year program is all MBA,” Dolan tells Symonds. “[It has] with all the core classes and electives of many longer models in a shorter amount of time.  So there is less time for introspection or personal development and more skill building around deadline-driven, decision-making models; effectiveness versus efficiency applications; and a ‘get the job done’ attitude.”

However, some schools are also migrating to ala carte models customized to student goals. Symonds names Duke University’s Fuqua School of Business and the University of Michigan’s Stephen M. Ross School of Business as pioneers in 16-month ‘middle ground’ programs. He adds that one-year bastions like INSEAD  have developed three tracks where students can “exit anywhere between 12 and 21 months.”

If that isn’t enough, students can now choose master’s programs that provide a more specialized credential. In short, the two-year MBA is no longer the only game in town. With a two-year program grounded more in tradition than science, it will need to evolve in its make-up and objectives to maintain its value.

Source: Forbes