One year MBA programs have gained a lot of prominence in India in the last few years. Working professionals are increasingly moving towards opting for one-year MBA programs rather than going for two-year MBA programs offered at premium business schools. One year MBA programs are seen to be more appealing to the working professionals because in just a year they are given all the necessary training to take up senior managerial roles in organizations.
One-year MBA is a power-packed program which is very carefully crafted to expose students to the complex and dynamic world of business and help them explore and develop their managerial skills. The course moves extremely fast (faster than a regular two-year MBA) and this keeps the students to think on their feet.
Advantages of one-year MBA program:
1. The experience earned prior to the commencement of the one-year MBA program is appreciated and accepted by the business schools. Since the schools give prominence to diversity inside the classrooms, it emphasizes on selecting individuals with the most diverse set of skills and experiences. This pool of diversity will increase the probability of exploring multiple nuances in the business arena.
2. Going for a one-year MBA saves up on the opportunity cost. Saving one year’s post qualification salary and early entry into work are the benefits of joining a one-year MBA program.
3. One-year MBA graduates are given a global exposure and are also hired for senior managerial roles with higher salaries, while two-year MBA graduates are often selected for entry level profiles such as management trainees because of the lack of work experience.
Limitations of one-year MBA program:
1. Students pursuing a one-year MBA program might lose-out on extra-curricular activities. Since the one-year program has the same curriculum as that of a two-year MBA program, the whole course is squeezed into a single year. This lays a lot of pressure on the students which results in minimum active participation in extra-curricular activities.
2. The cost of one-year MBA program is generally higher than that of a two-year MBA program. Premium b-school Indian School of Business (ISB) charges about 25 lakhs for its PGP programme. One-year programmes at IIMs will also cost between 14 lakhs and 21.5 lakhs whereas the fee for two-year MBA programmes at IIMs (subsidized by government) is between 10 lakhs and 15 lakhs.
Top Business Schools offering one-year MBA programs in India: