One-year vs. two-year MBA programs

Since the one-year MBA was popularized in Europe sixty years ago, people have been asking: is a one-year MBA as good as a two-year program? With U.S. business schools responding to the strong demand for one-year programs by offering them often alongside two-year programs, the question remains: is the one-year MBA as valid as the more traditional two-year option? And what exactly is the difference between one-year and two-year MBAs anyway? Investment, ROI, and opportunity cost A traditional two-year MBA program is generally full-time, residential, and covers two nine-month academic years, with a summer break in between these years. A one-year residential program is usually an 11- or 12-month sprint. Time is money There’s more to consider than simply how long it takes to complete your MBA. Higher program fees, longer without earning a salary, and more time away from the job market mean two-year programs are a significantly more expensive option – in terms of both cost, return on investment, and career opportunities missed. CNN Money calculates that students on two-year programs end up paying close to $350,000 when they add up interest from student loans, tuition and fees, and loss of job income. Graduates that choose a one-year MBA program face lower costs for tuition, fees, accommodation, and living expenses. And their time away from work is half that of their two-year colleagues. This means that they are able to start paying back the cost of their degree quicker and reach their return on investment sooner. A graduate from Hult International Business School’s one-year MBA will typically pay off the cost of their degree in two years, whereas graduates of MIT’s two-year program are looking at nearly five years before they start seeing a return. Out of the loop In today’s fast-changing economy, two years away from the business world is a long time. Katharine Boshkoff, Vice President of Career Development at Hult says: â€Å"These days, markets and industries are changing at lightning speed. The global economy is in a greater state of flux than ever before and disruptive new technologies and business models are transforming whole industries in a matter of months. Winners in the race for jobs   will be those who stay plugged into the market and capitalize on change to drive their careers.† Salary matters But what about post-MBA salaries? Is a one-year MBA worth the same as a two-year? Do graduates of two-year programs earn more than those of the one-year equivalents? According to CNN Money author David Bogoslaw writing for Fortune, one-year grads tend to come into jobs at the same pay rate as two-years. In some cases, one-year MBAs even ended up earning more. Curriculum and academic rigor Both one- and two-year MBA programs offer the same degree, the same qualification – a Master of Business Administration degree. Both typically offer a core set of courses covering foundational topics like accounting, finance, organizational behavior, and economics, as well as a range of electives. Two-year programs allow students to take more courses and more electives, and those who want to become specialists in a particular area, such as finance, tend to favor two-year programs that allow them to deep-dive into their specialist topics. One-year programs are increasingly offering students the opportunity to specialize. Hult, for example, gives its MBA students the ability to choose from eight specialist areas – Marketing, Finance, Analytics, Strategy, Entrepreneurship, Behavioral, Innovation, and Disruptive Technologies – where they take electives in their chosen area in addition to core courses. Learning experience Apart from ROI, the key differentiator between one- and two-year programs is learning experience.  Candidates that opt for the two-year programs are generally looking for a traditional college experience. The time and space a longer program affords allows students to dabble in a variety of topics, take summer internships, and figure out their career path as they go through their program. One-year programs condense the curriculum content and the schedule is packed. Classes are often supplemented with real-world projects, competitions, and simulations. It’s an accelerated, intense, and demanding learning experience that requires focus, clarity, and a ferocious work-rate, which may not suit everybody. Because of these differences in curriculum delivery, one-year MBA candidates require a certain level of skill and experience so they can hit the ground running. Most one-year MBA programs have an entry requirement of at least three years of professional experience, as more experienced candidates are more likely to adjust to the accelerated learning environment and enjoy the benefits it offers. Securing employment post-MBA With less time to job search, students on one-year programs need to have a clear idea of the job they want on graduation and a laser-focus on finding it – particularly if they want to be employed on completing their program. This means conducting a job search alongside completing an MBA, a challenge for students who are not sure of what they want to do with their MBA. Business schools are beefing up their career services across the board to support students in this. Initiatives such as Hult’s Career Fast Track program, which works with candidates pre-arrival to nail down their career plan and get their resume application-ready, means students can begin their job-search even before their program begins. Internships are also a great path to market and Hult Careers Teams offer specialist support in securing for-credit internships in the summer of the one-year program. Networking opportunities A popular misconception is that two-year programs have more networking opportunities than one-year programs. But the variety and quality of networking opportunities are more usually down to the school itself. Its also up to the student to make the effort to maximize their opportunities. These factors are usually bigger indicators of networking opportunities, rather than program length. Everything from formal and informal networking events, recruiting events, speakers on campus, and projects with businesses, to social events, team projects, and clubs all function as networking opportunities. One-year programs may have the same volume of these events as a two-year program, but the condensed timeframe of a one-year MBA adds to the intensity of the overall program. Studying abroad and international experience Opportunities to study abroad through exchange programs are traditionally a feature of two-year programs. But with the emergence of international business schools with several campuses in different locations, studying abroad is increasingly becoming a feature of one-year programs. Hult offers students on a one-year MBA program the ability to study in as many as six global cities, giving them the opportunity to gain a wealth of on-the-ground international experience. So are one or two-year programs more worthwhile? So whats the verdict on one-year vs two-year MBAs? Both one- and two-year MBA programs have their merits. Those looking for a slower-paced experience with time to figure out their future would probably be better suited to a two-year program. Students who want to minimize their time out of the workforce and earn back their investment quickly, and who are prepared for an intense year of hard work, would be better off opting for a one-year MBA. Watch Hult students talk about why they chose a one-year MBA program. Give your career a huge boost with an MBA  from Hult. For more inspiration, take a look at our blog From rock star to MBA student: An interview with Nimmer Khokhar, or discover a day in the life of a Hult masters student in San Francisco. Download a brochure or get in touch today to find out how Hult can help you explore everything about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .