Risks involved in pursuing a one-year full-time MBA degree
As times have progressed, the demand and scope for one-year MBA programs have seen a drastic upvote. Perhaps the 2016 list of Financial Times rating the best B-school’s inclusion of one-year MBA college, INSEAD, may have something to do with the radical change. People are now opting to consume the perks of one-year MBA programs and its cost-effective nature. Apart from having to spare only one year towards education for working professionals, the diminutive tuition fees, as opposed to a two-year course, seems to have attracted students towards the course.
The fact that companies are seeing one-year MBA graduates in the same line with two-year MBA graduates has further pushed prospective students to opt for the less time and money consuming course. However, with great opportunities come a few ‘ifs and buts’. While you may be set in your head to pursue a one-year MBA degree, you must recognize the cons that come along with it.
Disadvantages of a one-year MBA program
- Not recommended for ones who wish to switch careers
People who want to take an absolute switch in their career paths and get into business administration, a one-year MBA program wouldn’t be the right course for them. One-year MBA programs are specifically set for professionals who wish to elevate their already established career graph in the field of business administration. - Lack of setting up a foundation for business studies
Since it consumes less time, the course has a more focused approach. Hence, unlike a two-year course where students’ foundation is acknowledged and strengthened, one-year courses directly go for the established goals. Basically, their approach is on what would be taught in the second year of a two-year program, emphasizing on the specializations. - No summer internships
It is necessary to acknowledge the fact that students who enroll in a one-year MBA program may not have the time provisions for a summer internship. B-schools state that summer internships after the first year of a two-year degree play a very important role as there is a high possibility of the internships to culminate to full-time work opportunities. - Less opportunity to network
Once again, time plays a boon and a bane with respect to a one-year MBA program. Lack of time results in a lack of networking opportunities. The aftermath of busy schedules of one-year programs would be less or no time to get to know your classmates who will soon become your industry peers.