One-year MBA degrees are in vogue. The principal advantages are cheaper tuition fees and a lower opportunity cost - the price of not working. This has become even more important as the global economy strengthens, causing prospective MBA students to wince at the prospect of potentially missing out on a promotion, a pay rise or industry knowledge in fast-changing times.
One-year MBAs are most prevalent in Europe, but they can be found at a throng of highly ranked business elsewhere around the world. There are even some strong one-year MBAs in the US, where the two-year MBA has long been the norm.
While the one-year MBA has some tangible benefits—including that it’s faster and cheaper than its two-year counterpart—it does come with some drawbacks. For example, in many one-year MBA programs, there is simply not enough time for a summer internship, which, for many students is a great way to get some practical work experience and job connections. Also, time for elective courses may be more limited, meaning that one-year MBA students may not be able to delve as deeply into topics that interest them.
However, for many time-strapped students, the one-year MBA is a great choice.
Best One-Year MBA Programs in the World- Some Options
1. NYU (New York University) Leonard N. Stern School of Business
NYU’s Leonard N. Stern School of Business has one of the world’s top one-year MBAs. The Tech MBA program is a revelation for students in the field with core components such as Stern Solutions, Tech Core, Business Core, and Electives. Students learn not only about leadership, strategy, marketing, and accounting, but also about technical product management, software engineering, DevOps, business analytics, and more.
2. University of Washington
The University of Washington is known for its Michael G. Foster School of Business. The 1-year MBA program is acclaimed for its global exposure and the robust curriculum that focuses on leadership and building global expertise.
3. Northwestern University
The Kellogg School of Management at Northwestern University has a highly-ranked one-year MBA program that helps students learn more about core business principles and build their leadership skills.
4. Cornell University
The SC Johnson School of Business at Cornell University is also acclaimed for its 1-year MBA courses. Students can choose an accelerated course that will have students fusing flexible curriculums with STEM-designated career pathways and community networking.
5. IMD Lausanne
The one-year MBA program at IMD Lausanne in Switzerland is hugely acclaimed for its emphasis on collaboration and critical thinking. Both Forbes and Bloomberg Businessweek have ranked this one-year MBA course at IMD Lausanne as #1 in Europe. This degree is the gateway to a fulfilling global leadership career ahead.
INSEAD offers one-year MBA programs at its campuses in France and Singapore. The institution is affectionately called The Business School for the World, with representatives of more than 80 nationalities. The curriculum is robust and engaging and the course concludes with a project or an essay along with an examination.
7. Cambridge University
Cambridge University needs no introduction and its one-year MBA program is one of the best in the world as per Forbes. Cambridge offers experiential learning with an emphasis on executing real-world projects.
8. SDA Bocconi
Housed in Milan, Italy, SDA Bocconi has a well-recognized one-year MBA program. The institution seeks to not only equip students with domain knowledge but also industry experience and the entire spectrum of analytical and social aspects conjoined to managerial issues.
9. Oxford (Said)
The MBA program at Said has been ranked amongst the world’s best and most diverse MBA courses. The Financial Times ranked the MBA from Oxford at #13 in the world in 2019 along with #2 in the United Kingdom.
10. IE Business School
Located in Madrid, Spain, the institution offers one of the choicest international MBA programs for aspirants. This one-year MBA is a full-time course, offering high achievers a chance to get global exposure along with in-depth insights into managerial and leadership practices.
The Mannheim Business School has an equally acclaimed one-year MBA program that is highly coveted throughout Europe. The one-year accelerated program emphasizes smaller classes, ensuring more opportunities for networking, exchange, and exposure as far as students are concerned.
12. Erasmus University
Located at Rotterdam, the Rotterdam School of Management offers a cutting-edge one-year MBA program that is globally recognized for its innovation, flexibility, and emphasis on all-around knowledge.
13. HEC Montreal
One of Canada’s premier management institutions, HEC Montreal is a great choice for international aspirants seeking the best 1-year MBA programs in the world. The practice-focused course helps students equip themselves for high-flying global careers in the future.
These are only a few of the top-ranked one-year MBA programs in the world, as ranked by Forbes and College Consensus among leading organizations. There are many other premier one-year MBA programs throughout the world.
One Year MBA in India Vs Executive MBA: Clear the Confusion
Let’s first understand the difference between One Year MBA and Executive MBA (EMBA). In US, Europe, China and Singapore EMBA is generally a modular, part-time program offered for senior executives who don’t wish to leave their well-paying full-time jobs for earning MBA credentials. Executive MBA in India.
Coming to India, there is some unwarranted confusion between these two programs. To clear the air, some historical perspective is useful.
In 2001, like many European MBA programs, ISB Hyderabad launched its one-year full-time residential MBA equivalent program called Post Graduate Program (PGP). This required a mandatory work experience of a few years, and thus aimed exclusively as working managers. Following its success, in 2006, IIM Ahmedabad launched its ‘Post Graduate Programme in Management for Executives’, its one-year, full-time, residential program popularly known as PGPX. IIM Calcutta too launched its ‘Post Graduate Programme for Executives or ‘PGPEX’. In 2009, IIM Bangalore launched the ‘Executive Post Graduate Programme in Management or ‘EPGP’. Both IIMC’s PGPEX and IIMB’s EPGP were one-year, full-time, residential MBA Equivalent programs.
After the passing of IIM Act 2017, now some of the IIMs have started awarding Master of Business Administration degrees to the students of their one-year program on its successful completion instead of an earlier diploma.
Given that word ‘Executive’ is part of virtually all 1-year MBA programs by IIMs, the media and the general public started calling these One Year MBA equivalent programs as Executive MBAs. Clearly, the one-year residential MBA programs by IIMs are NOT modular EMBA programs as known globally.
This confusion was perhaps further compounded when AICTE, the management education regulator in India, permitted PGDM B-schools to offer ‘Executive PGDM’ – also a full-time residential 15-month MBA equivalent program. So XLRI offered PGDM (General Management) and MDI offered the National Management Programme and so on – all leading to ‘Executive PGDM’ or PGDM Executive. Today more than 25 B-schools are offering this program in Delhi, Mumbai, Bangalore and other cities.
1 Year MBA Vs EMBA are not the same
|Particulars||One Year MBA||Executive MBA|
|MBA colleges for Example||ISB’s PGP or IIMA’s PGPX||ISB’s PGPMAX|
|12-15 months||12-15 months||Varies from 15 months to 36 months|
|Minimum Work Ex Required||5 Years for IIMs, 2 Years for ISB/Great Lakes||Much higher, generally 10-15 years|
|Admission||GMAT/GRE required. Rigorous process.||Profile based. GMAT generally not required|
|Fee compared to 2-yr program||High||Much Higher|
Above table clarifies the difference between the two programs. With this clarification, let’s move forward to understand more about full-time One Year MBA in India. (For those who will not like to leave their full-time jobs but looking for good managerial qualifications, refer to links for some good part-time program options.) Coming back to One Year MBA in India, good news is that there are plenty of choices. We classify them into three types, below.
One Year MBA: Types of institutions
- One Year MBA by IIMs including IIMA, IIMB, IIMC and others
‘Executive PGDM’ offered by AICTE-approved top B-schools like XLRI, MDI, SPJIMR, Great Lakes and others
- One Year MBA equivalent program offered by ISB, SOIL and others
While all these three 1 Year MBA Programs may appear same, one closer analysis, you will notice many differences due to the positioning and target audience of these programs.
Let’s review three types of One Year MBA programs in detail.
Top One-Year MBA Programs in India
|Institution||Duration||Batch Size||Batch Average Work Experience||Minimum Work Experience Required||Fees (Rs Lakhs)||Average Placement (Rs Lakhs)||Month of Programme Commencement|
|IIM Ahmedabad - PGPX||12 Months||140||8.3 Years||4 years||28,00,000||33,36,247||April|
|IIM Bangalore - EPGP||12 Months||75||7.4 Years||5 years||27,50,000||29,88,000||April|
|IIM Calcutta - MBA Ex||12 Months||79||8.1 Years||5 years||27,00,000||28,75,000||April|
|IIM Indore - EPGP||12 Months||68||8.6 Years||5 years||20,10,000
|IIM Lucknow - IPMX||12 Months||101||8.3 Years||5 years||23,50,000||April|
|IIM Kozhikode - PGP BL||12 Months||64||5.1 Years||5 years||22,50,000||29,06,000||April|
Which are top One Year MBA programs in India? If you are looking for the best one-year MBA, please note that these 1 year MBA programs in India are offered by the one-year MBA colleges in India as well as other top MBA colleges. The top one-year MBA programs offered by ISB (1 year MBA is the flagship program at ISB), IIMs, XLRI, and Masters’ Union are examples of some of the best one-year MBA programs in India. Globally, these are only 1 year MBA program rankings done by top international agencies. Although out of 3500 MBA colleges in India, most of them offer one-year MBA courses but looking with the perspective of choosing the top one year MBA.
One Year MBA: Course Details
- Admissions to One Year MBA requires a GMAT/GRE score of 650 or above, and most importantly a work experience of minimum 5 years or above.
- The applications for one year MBA Admission will start from the month of November or December.
- Some MBA Colleges, like ISB Hyderabad and Great Lakes accept a minimum work experience of 2 years foradmissions in one year MBA.
- One year MBA is very popular abroad, Kellogg one year MBA program is one of them, offering accelerated one year MBA from the month of June, in subjects like Strategy, Management, Accounting, and Finance.
- The one year MBA fees are generally much higher, but there are some colleges like Great Lakes, Gurgaon offering a one year PGPM program with a fee less than INR 20 lacs.
One Year MBA Programs Abroad
1. Kellogg One Year MBA
- Kellogg School of Management, Evaston offers a one year accelerated MBA program, in a cycle starting from June to June at a tuition fee of $103,316.
- The application forms for admissions start from the month of September 2020, and comprises three rounds. The second round commenced on January 06, 2021 and the third round is scheduled for April 07, 2021.
- They also require you to complete some pre- courses in Statistics, Economics, Marketing and Operations as a part of their eligibility criteria.
- The course curriculum focuses on domains of Strategy and Management, Accounting and Finance.
- The first semester focuses on these subjects, then during September, you are taught along with the two year MBA class for a better understanding.
2. 1 Year MBA Programs at Rotterdam School of Management, Erasmus University
Situated in Rotterdam, Netherlands, this business school offers a full-time one-year MBA program with a tuition fee of INR 48,66,534. The course starts from the month of January and is divided into four terms.
- Term I- The Foundations of Management
- Term II- The Practice of Management
- Term III- Advanced Career Options
- Term IV- MBA Electives and International Opportunities
3. 1 Year MBA Programs at Rushford Business School, Geneva, Switzerland
- This business school offers a full-time online, one-year MBA program with a tuition fee of INR 5,02,081.
- The course offers 17 core subjects and 5 electives.
- A student must complete 15 core courses and 3 electives to complete his online MBA degree.
- The eligibility criteria consist of a bachelor’s degree or any equivalent in any discipline and proficiency in the English language.
4. 1 Year MBA Programs at ESCP Business School
- ESCP Business School is located in more than 6 countries.
- It offers a full-time, 10 months MBA in International Management with a tuition fee of INR 41,45,371.
- Any candidate with a bachelor’s or master’s degree in any discipline, with a minimum work experience of 3 years, and proficiency in the English language is eligible for this course.
5. 1 Year MBA Programs at Hult International Business School
- Hult International Business School offers a full-time one-year global MBA program that can be pursued in any of the locations the Hult Business School is located (London, Dubai, Shanghai, etc.)
- The one year MBA costs INR 58,26,655.
- Any student with a bachelor’s degree in any discipline, minimum work experience of 3 years, and proficiency in the English language can pursue this degree.
7. 1 Year MBA Programs at International University of Japan, Niigata, Japan
- International University of Japan offers a full-time one-year MBA program with a tuition fee of INR 22,00,240.
- It requires work experience of at least 5 years, a GPA of 3.00 or higher, and a thesis with a grade of B+ or higher.
- The course is divided into three terms and one summer period.
1 Year MBA Programs: Syllabus
- The 1-year MBA course is divided into five terms, commencing from the month of April.
- Out of these 5 terms, 2 terms are dedicated to core subjects, 2 for electives, and 1 entire term designed especially for an international immersion program.
- The one year MBA syllabus is similar to regular MBA syllabus, with a breif focus on every subject rather than comprehensive study.
- The course starts with an induction program to help students get familiarized with the course objectives.
1 Year MBA Programs Placements
Given that the candidate already has a work experience of more than 3 years, the placements offered by the various one-year MBA programs focus on the needs of the individual students, keeping in mind their professional backgrounds.
Sectors like Finance, Banking, IT, Consulting, and various others are the main hiring bodies in such programs.
MBA Placements and top companies are similar to the normal MBA programs, the top recruiters include BCG, Amazon, HDFC Bank, etc. You can refer to articles below to know more about one year MBA placements.
Executive One Year MBA Programs
- Candidates who do not wish to choose the one year residential MBAs can also opt for the executive MBA programs, which are designed for working individuals who want to do a part-time MBA along with their jobs.
- Executive MBA programs require a higher work experience of more than 8 years and their duration exceeds 12 months.
- Currently, few colleges are offering these executive MBA programs.
Compared to a standard two-year MBA, the one-year MBA programs are much more efficient and can be the best fit for you. If you are someone who does not want to spend too much time doing an MBA or have a strict budget, this is your chance. A one-year MBA does not ask for significant tuition, and it lets you get your degree and education is lesser time. Not to mention all major countries around the world offer one-year MBA programs. Set your priorities and apply for a one-year MBA abraod.
1. Which is better- 1 year MBA or 2 years MBA?
Both one year and two year MBA programs are good in terms of the curriculum and placements offered. Both of the programs are designed keeping in mind the career goals and demands of the students.
- The one year MBA program is a better option for those individuals who have a clear career goal and have the work experience in the corporate world, they just need to grow and accelerate their career.
- The two year MBA program is a better option for those individuals who are new to the corporate world and have work experience of fewer than 2 years, such individuals need more in-depth theoretical knowledge along with the practical aspects and also want to experience a good business school environment.
- In terms of dedication and hard work, 1 Year MBA Programs require more dedication as it is a fast-paced course that covers all the aspects taught in a two year MBA program.
- In terms of the course fee, both one year and two year MBA programs are equal.
2. Is one year MBA worth it?
Yes, the one-year MBA is worth your time, provided you have the skills and knowledge required for this course. As one year MBA is dynamic, it requires a lot of hard work and dedication, but it is quick, requires much less time, and helps you to get just the right amount of assistance and edge you need, to accelerate your career.
3. Which are the best colleges in India for a one year MBA program?
Here are the list of the best colleges in India for a one-year MBA program-
- IIM Ahmedabad
- IIM Bangalore
- IIM Calcutta
- IIM Indore
- IIM Lucknow
- IIM Kozhikode
- IBS Hyderabad
- Great Lakes Gurgaon
4. What is the scope of a one year MBA in India?
There is a good scope of a 1 Year MBA Programs in India because the placements offered in this course are catered to one’s individual needs, that matches their corporate background as well as the future career goals. The colleges assist you with a better career option and various sectors like Banking, Finance, Consulting, IT hire the students.
5. Which is better- executive MBA (EMBA) or full-time MBA?
Both executive MBA (EMBA) and full-time MBA are good. A better option depends on the student’s work experience and goals. If you have work experience of more than 10 years in your field, and you need to have growth in your career, the executive MBA is the right choice, because it does not require you to leave your full-time job. If you are new to the corporate world and need to have a piece of in-depth knowledge, and a better placement opportunity, the full-time MBA program is the right choice for you.