Choosing between one- and two-year MBA programs

The most important initial decision that MBA applicants must make is choosing between a one-year or two-year MBA program.  In the past there was a stark contrast between the American two-year MBA model and the one-year European model.  The American model has traditionally been more quantitative-focused, research-based, U.S.-centric and younger; while the European model focused more on soft skills, global business, leveraging industry connections and more experienced candidates.  U.S. MBA programs have spent much effort on developing industry connections and incorporating global business and soft skills such as leadership and teamwork into the curriculum and therefore these old distinctions have been blurred.  Complicating things further is that more and more business schools in the United States are offering one-year MBA program options. 

People struggling to choose between a one-year or two-year MBA program will want to evaluate the following considerations before making a final decision:           

One-Year Programs:
Advantages:  Less time spent away from work; students can gain high-level skills that can be brought to the job market faster and increase their ROI; total expenses much lower.

Disadvantages:  Fewer elective choices may be offered, short-time frame might not allow adequate time for those with little experience or career-changers to develop the new skills and knowledge necessary to make a major career transition; minimal time to conduct a job search or engage in outside-the-classroom activities.

* Other factors to consider:  As stated above, more and more U.S. business schools are offering one-year options (such as Kellogg, Emory and Cornell) and more are likely to offer one-year programs in the future.  These programs are geared towards people with some business training and a solid understanding of statistics, accounting, economics, etc. Significant differences might exist between U.S. and European one-year MBA programs therefore applicants are encouraged to carefully research these programs before making a decision.

Two-Year Programs:

Advantages:  Offers high interaction with students and professors through numerous courses and projects; opportunity to take part in activities like case competitions, student clubs and consulting projects; the ability to do a summer internship after the first year and extra time to explore career options makes it much more appropriate for younger students and career changers.

Disadvantages:  Expensive and requires more time away from work.

As we noted recently there are impressive job placement statistics for 2011 graduates of both one- and two-year MBA programs, but candidates are advised to carefully consider these choices in order to find the program that is the best fit.

Kellogg to Restructure and Reduce Size of Two-Year MBA

New Kellogg Dean Sally Blount has announced an aggressive restructuring plan that will reduce the size of the two-year MBA program, expand their one-year programs and reshape the curriculum.

Due to falling demand for two-year MBA programs by American applicants, Kellogg will shift its emphasis from the traditional two-year American MBA model and reduce intake for its two-year MBA from about 650 to 530 annually.  In Kellogg's view, people these days want to spend less time on their education and thus Kellogg will expand the size in the one-year MBA, EMBA and specialized master's programs.

Kellogg also plans to overhaul its curriculum and change its reputation as a marketing-oriented business school.  Over the next two years Kellogg will eliminate individual academic specializations like marketing and finance, and focus on broad concepts that cut across disciplines such as innovation and entrepreneurship, markets, customers and growth, how business interacts with government and architects of collaboration which focuses on the new ways companies are organized and operated.  Dean Blount sees these changes as a necessary reaction to the job market and what employers want, and that the new curriculum will add value by giving students a more balanced approach to management.  

Solid Job Prospects for 2011 Business School Graduates

The Graduate Management Admissions Councel (GMAC), which surveyed a large number of 2011 business school graduates for their 2012 Alumni Perspectives Survey, has reported that hiring remained at a robust 84% for management degree graduates three months after graduation.  2010 management graduates had a 96% employment rate 15 months after graduation. 

GMAC's research shows a clear disparity between hiring and salary levels between less- and more-experienced management graduates; as 19% of graduates with less than one year of experience were unemployed three months after graduation with starting salaries ranging from US$40,000-50,000, compared to a 14-15% unemployment rate and starting salares of US$70,000-90,000 for graduates with one to six years of prior work experience.  GMAC's 2011 Corporate Recruiters Survey supported this data as 41% of the worldwide recruiters stated that they planned to hire MBA graduates with three to four years of experience, while only 27% planned to hire MBAs with less than 3 years of experience.  "Proven ability to perform" was the number one quality that global corporate recruiters where looking for in new hires.

100% Admission Rate!

from: fc@gmail.com
to: Transcend Admissions Consultants <transcendadmissions@gmail.com>
date: Mon, Apr 16, 2012 at 9:38 AM
subject: summary
mailed-by: gmail.com

Hi David,

I wanted to update you on some exciting recent news: I have been taken off the waitlist and admitted to the Northwestern University Integrated Marketing Communications (IMC) program!  That means I had a 100% admission rate for the four schools we worked together on (Duke MBA, Georgetown MBA, Indiana MBAand Northwestern IMC)  :)  

I want to express my gratitude for the hard work that you and Frances put in on my case. I could not have asked for a more dedicated and enthusiastic team. My essays were obviously very strong and caught Adcom's attention, and I felt well-prepared for my interviews. The best part is that you kept the original tone of my essays but made them more complete and sophisticated, presenting the “true me” in a much smarter way. I appreciate that a lot! Your constructive suggestions and warm feedback have always been helpful and comforting during the anxious application process. As you know, I was not very confidentat the beginning of the admissions process, but thanks to Transcend Admissions Consultant's support and encouragement, I have truly exceeded my wildest expectations!

Cheers!

F.C.

It's a London Thing!

from: xxx.sf@gmail.com
to:  Transcend Admissions Consultants <transcendadmissions@gmail.com
date:  Mon, Apr 2, 2012 at 2:52 PM
subject:  Re: Questions about decision status
mailed-by:  gmail.com

Hi David,

After a long and grueling application period I have some good news to share with about all the programs I applied to in London: I have been admitted to the London Business School (LBS) Masters in Management (MIM) program; the dual degree, London School of Economics (LSE) MSc in Global Media and Communications and USC Annenberg M.A. in Global Communication and the Imperial College MSc in Strategic Marketing!!  (and the Duke MIM as well ;) )

I had no idea how challenging balancing a full-time job and completing my applications would be.  Thanks you very much for helping me create a unique application strategy, and making sure my essays displayed my passion, creativity and key skills.  Because of your support, I survived this incredibly difficult period and now I am preparing to live my dream of studying in London at the top business school in Europe!

Good luck to you and Transcend Admissions in the future - will definitely recommend your service to my friends!

Sincerely,

W. Chuang