WHO SHOULD CONSIDER A ONE-YEAR MBA PROGRAM
That’s not always true for every applicant, of course. As Shinewald readily notes, “there are always exceptions to the rule – the Columbia J-Term is a very good option, though it is a touch longer than a year, for those who truly have no use for a summer internship. Similarly, the Kellogg Accelerated MBA could be an option to consider if you have a very clear and attainable professional goal and already have a profound background in management study. These are specialized programs and the schools do the vetting of applicants; the schools are not one-year degree programs where it is presumed that all students will do the diligence themselves. So, applicants have to really check themselves before applying to one-year programs and be honest about their existing abilities and expectations. If you have real gaps to fill, a one-year program will likely be the wrong choice. Remember, you will only find a better ROI, if you get the job you want and then excel in the workplace.”
What of the FT’s ranking halo on many of these one-year options? “INSEAD, the highest ranked, one-year MBA program on FT.com’s list, is undeniably world-class and comparable to the world’s leading two-year programs,” says Dan Bauer, founder and CEO of The MBA Exchange, another leading admissions consultancy. “However, as you move down the list, there’s plenty of room to argue that FT.com is overstating the caliber of some one-year programs. For instance, ranking HKUST above Dartmouth Tuck, Duke Fuqua, Yale SOM and Michigan Ross is counter to how many veteran experts and astute applicants would view those schools. Since the FT takes a global view, and is U.K.-based itself, it’s not surprising that their rankings would feature so many one-year programs as that’s the norm in Europe. However, market demand from top applicants does not align with the view that more than half of the top 50 are one-year programs.”
In general, Bauer believes that one-year programs are best for
• More mature candidates, not seeking a do-over of their undergrad experience.
• More worldly, not needing international study trips that help “globalize” domestic students.
• Committed to their current employer, or at least same industry, since fewer electives and the absence of summer internship discourage career changes.
• Budget conscious in need of lower tuition expense and less foregone income.
• Have an undergrad degree in business, or at least strong quant skills, since there’s less time and opportunity to ramp up.
• Prefer a summer start rather than the traditional fall start.
• Seek intensity rather than duration of networking with classmates.
• Prefer a U.S. school but are less ranking conscious since most American one-year programs are at schools outside the top 20.
Which schools offer accelerated options? Among the Top 50 schools in the latest FT ranking, here are those that offer shorter MBA programs. Some schools give students the choice. London Business School, for example, allows students to choose between completing the program in 15, 18 or 21 months. Hong Kong University of Science and Technology, for example, has both as 12-month and a 16-month option. CEIBs in China launched a one-year MBA program in 2015 so students there have the choice between the standard 18-month curriculum and the shorter and more intensive accelerated offering.
One-Year Options On The 2016 Financial Times Global MBA Ranking
|2016 Rank & School||2015 Rank||Change||Weighted Salary||Pay Change|
|3. London Business School||2||-1||$154,150||100%|
|10. Cambridge (Judge)||13||+3||$156,323||95%|
|11. Northwestern (Kellogg)||14||+3||$162,923||93%|
|12. IE Business School||12||—–||$159,266||104%|
|14. Hong Kong UST||14||——-||$||117%|
|15. HEC Paris||16||+1||$134,299||108%|
|25. SGA Bocconi||26||+1||$122,955||116%|
|28. Oxford (Said)||22||-6||$136,959||81%|
|29. Indian School of Business||33||+4||$138,454||142%|
|29. Nanyang Business School||40||+11||$119,032||105%|
|31. Cornell (Johnson)||28||-3||$142,764||102%|
|35. Imperial Business School||34||-1||$112,301||83%|
|37. City University (Cass)||45||+8||$121,402||82%|
|40. The Lisbon MBA||36||-4||$123,584||100%|
|42. Rotterdam (Erasmus)||45||+3||$107,998||81%|
|44. University of Hong Kong||28||-16||$112,518||106%|
|46. Warwick Business School||38||-8||$112,287||70%|
Source: The Financial Times