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A 1-year MBA is transformative for most graduates – you’ll hear words like “kick-start”, “launch-pad”, or “booster”. The kind of person who will thrive in an accelerated MBA program is someone who wants to be in control of their career and their life direction. On top of that, they are typically very ambitious – they don’t just want to change direction or move to a new level in their career, they want to see just how far they can go. A third key characteristic is hard-working. Whatever goal you want to achieve with your 1-year MBA, you should be prepared to work hard during the year – and probably beyond.
It’s a year out of your life, and applying is a big decision. Here are five outcomes to anticipate if you take on a one-year MBA. (Number 5 will especially surprise you.)
If you are young and only a few years along in your career, going back to school for two years for your MBA is a manageable prospect. Chances are you don’t have things like a mortgage or kids to manage in parallel – important considerations when you will be without an income and taking on significant tuition.
The traditional MBA program is a good starter degree that will nicely round out an undergraduate education and bit of business experience. It offers a complete education in business fundamentals, which will help provide a good foundation upon which to start your business management career.
MBAs and Executive MBAs are considered to be degrees meant for either “career-enhancers” or “career-changers”. One-year MBA programs are particularly attractive to the latter group. It is a perfect opportunity for a self-directed, ambitious person to take a step back and really investigate their goals and how their best skills can be applied.
An MBA program must be designed to prepare candidates for the demands of real market forces. This is especially true of 1-year Master of Business Administration degrees, which are much more practice-oriented versus theoretical; it also tends to be more the case at institutions that are business schools focused on executive education as opposed to university-based schools. In the current context, effective leadership skills are critical to enable business managers to adapt to situations – even ones never before seen.
Did you know that 1-year MBAs transform into faster, greater return on investment than other types of MBA and EMBA learning? People taking a 2-year MBA are at the beginning of their careers and will climb and earn their stripes after the program. They are setting out, not transforming. Those who select an EMBA are usually a little further down the career track. They also are not necessarily looking to transform entirely, rather, the goal is to enhance a successful path with yet another solid credential and more diverse experiences. Since they, in general, have a higher salary going in, the rise in pay – although absolutely worth it – is not as dramatic.
The skills you learn in an MBA program will serve you for life – coming out of a quality program, you will find yourself to be a stronger leader, more mindful and self-aware in all relationships. Meehan says that MBA schools are increasingly actively seeking people who aren’t simply ambitious in business, but who have a vision and a desire to help positively shape the future of the world. On top of that, he says that MBA programs are attracting more people who aren’t necessarily even looking to apply the skills in the business context. For example, they may become leaders in public administration or non-governmental groups, but wish to apply the rigors of a business education to these fields.