Welcome back! In this video I am talking about the main differences between a 1-yr MBA and 2-yr MBA. I have been through a traditional 2-yr program, but would have chosen a 1-yr program instead, had I known the exact differences and what to expect. So you don't make the same mistakes as I did, here are the differences. I hope you enjoy the video. Give it a LIKE if you get value out of it.
00:00 - Intro
00:36 - Background & Profile
If you have more than five years of professional experience, plan to remain in your current industry, your sponsoring company or family business, and are looking at the MBA to be the accelerator that helps to level up your career at your employer, the 1-yr program is probably a better option for you. If, however, you are unsure of your post-MBA career or looking to switch industries, the two-year program is a better bet. A 2-yr program is, more relaxed and it gives you more time to reflect and potentially try out new things. At 1-yr programs, students tend to be a little bit older, given the fact that they have more work experience. 2-yr MBA programs are especially suitable for candidates, with a background other than business, whereas 1-yr programs are intense and fast-paced, which is why the program is better suited to candidates with strong quantitative backgrounds such as economics, engineering or IT.
02:27 - Summer Internship
If you are interested in switching careers or looking for a different role within the same industry, the summer internship between the first and second years of a 2-yr MBA is a critical foot-in-the-door and can lead to your first full-time job in the industry post-MBA. It's also your best option to try yourself out in an industry that is completely foreign to you. However, if you already possess the skills in the industry you hope to build a career in, the summer internship becomes less critical. Therefore, bear in mind that the summer internship acts as a proof-point and a gateway into certain industries. A one-year MBA is a great career accelerator for students who have a clear idea where their careers are heading and don’t want or need to complete an internship. Due to the intense nature of the program, there are fewer opportunities to explore different career paths before full-time recruitment begins. Thus, candidates should have clear and focused career goals
04:30 - Extracurriculars and Exchange Programs
Both programs offer a wide range of opportunities to participate beyond the classroom. If you have a clearer career focus, you will be able to maximize your engagement with real-world projects and competitions that are most relevant to you. In the two-year program, you get to network for longer, try out your interests more, cross-register for classes across campuses, and work on your passion-startup, simply because you have more time. You also get more bandwidth for MBA exchange programs with other top schools globally, often resulting in access to alumni networks and job prospects from multiple schools.
05:26 - Subject Specializations
1-yr programs allow students to skip over core courses that feel redundant with their pre-existing skillset.
If you are interested in a specialization, the 2-yr program is a better option because you have the time to immerse yourself deeper into a subject, engage in research projects or write cases with Professors in your second year.
06:04 - Cost
The 1-yr MBA is cheaper! For experienced professionals, the 1-yr program offers a higher return on their investment as they have a significantly lower opportunity cost in terms of being away from work for just half the time of 2-yr programs.
Starting salaries for both MBA graduates are the same. This makes the return on investment faster in the one-year format.
07:12 - Summary
Question of the day: What do you lean more towards to? 1-yr or 2-yr MBA? And where do you see the pros and cons? Let me know in the comment section below.
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