I’d be wary of using this answer and hence have not edited/shortened it. Firstly, many of the facts are wrong (3-5yrs avg experience for 2yr program, 7+ yrs for all 1yr programs, night and weekend classes) and language like “shit hot resumes” shows that the calibre of the answer isn’t high.
Two years MBA’s are your traditional programs that most colleges and uni’s offer. The average student is aged between 24–29 with work experience years between 3–5.
One year MBA’s are typically for executives. These are individuals with 7 or more years of experience (usually closer to 10) and will attend classes at night and on weekends. Some one year MBA’s for executives will be an intensive year-long program. These individuals are already senior leaders in their companies and have demonstrated strong leadership and are new to C-Suite positions or are about to hit them. The requirements are strict for one-year executive programs because you have to be in a position of actual leadership with a bare minimum of 7 years of progressive experience. Like your resume is shit hot.
Two-year programs are expensive, but so are executive MBA’s. The main difference is that they serve two different types of individuals. Traditional is for newcomers with 5 or fewer years experience and they are about to hit their first real level of management. Some of these individuals are could also be in the early stages of a great start-up company. The executive is for Hindi who has been in senior leadership and is on the C-Suite cusp. Their years of experience hover around 7–8.
If you have been out of college 2–4 years, you will choose a traditional 2-year MBA. If you have been working for 7–8 years in a dedicated leadership role, apply for the executive.
Always shoot for a top program since name brand matters. If you go to ‘Anywhere State University’ for your MBA, expect to not be working at a Google-type of corporations. But if you shoot for a top 14 (preferably top 10) program, you have greater access to better companies where income return will be worth the investment. So Univ of for-profit MBA is not the same as Ivy League/top calibre MBA.
- Accessmba Answer –
Complete dedication in either case
While the intensity between the two varies, it should be understood upfront that both formats require complete and full-time dedication by the student. The one year version does pack in a lot into a shorter time frame, but there is a lot going on even in the longer version that requires you to be on your toes all the time.
The two-year MBA
The more popular of the 2 lengths, the 2 year MBA offers its students an experience that is closer to being in college. Students can pace their courses, studies, projects, and internships out in a more relaxed manner, taking advantage of many out-of-classroom learning opportunities.
The one-year MBA
The shorter version is more popular in Europe, where it originated, rather than in the US. The list of B-schools with 1 year MBAs includes Cass Business School, Warwick Business School and Lancaster University Management School in the UK; INSEAD Business School and IE Business School in Spain; Bocconi University in Italy, etc. The list of U.S. schools offering one-year MBAs is shorter and includes Cornell University’s Johnson School of Business, Thunderbird School of Global Management, Kellogg, Emory University’s Goizueta School, USC Marshall and Boston University, among others. The course content is very similar to the longer version and the internship is usually done away with. This makes it more suitable for more experienced students.
The flexible formats
Due to changing economic realities, many schools have adopted a flexible approach regarding the format of their MBA programmes. ESADE Business School, which has its campus in Barcelona, offers its MBA programme with a flexible structure – 15 or 18 months with the option to fast-track in 12 months. The programme has specific tracks for students who want to focus on a career in finance, family business innovation and entrepreneurship, Latin America and marketing. IE Business School, one of Europe’s most prestigious schools, is another example of how European schools have developed the traditional two-year programme. Bloomberg Businessweek says its 13-month International MBA programme has the “most innovative curriculum” of any MBA programme. The programme combines entrepreneurship, diversity and the humanities with a unique focus on social responsibility. The school also offers a 10-month IESMU MBA programme that is a joint initiative of the school and Singapore Management University. The programme offers insights into Asia Pacific markets, business strategies and management cultures, and combines the best of theory and practice by allowing students to test out newly learnt concepts, skills and management techniques in business case analyses, simulated environments, and faculty-guided, cross-functional, real-life projects.
Both formats have pros and cons
The 1-year version is more apt for those with clear career goals and this in a hurry to get back to corporate life. The other plus point of the one-year format: costs – including tuitions and fees, accommodation and travelling – are half those of the two-year programme. Starting salaries paid to one-year and two-year MBA graduates are mostly the same in any case. This makes the return on investment faster in the one-year format. Of course, the one-year programme has its price. Those who choose the one-year format have to make some sacrifices. The programme is very intense and there is no time for extracurricular activities. This means that from a social standpoint, the one-year MBA offers more limited networking opportunities as compared to the two-year programme.
In contrast, the two-year programme allows students to build a large network through attendance in classes and participation in projects with other students. In general, the formats have no huge differences in terms of programme content. Admission requirements are also similar. The degree is the MBA. The main difference is the time you have to relax and be part of real-life outside academic venues. Unlike in the one-year format, in the two-year format students have more time for extracurricular and social activities, as well as more time in summer placement that is becoming a key prerequisite for finding a job. That makes the two-year MBA programme a good option for younger students, while the one-year programme is a better choice for more mature people who want faster entry or a faster climb up the corporate ladder.
- Eduswami Answer
The key differences between the two options can be distilled down to the following points:
- Target: The 2yr version is meant more for relative freshers or people with very limited experience because there is more time to focus on elementary aspects of management theory. The 1yr programs target more experienced students (with >3-4 years of work ex) and try to achieve more depth and breadth in content
- Costs: The costs of the 2yr program are higher than the shorter version due to both tuition fees as well as double the ancillary expenses like a hostel, food, etc.
- Coverage: With more elementary courses and internships, the 2yr version focuses on getting inexperienced students ready for a career. The 1yr version on the other hand breezes through basics and does away with the internships because experienced students are expected to be well versed with what these items can provide.
