June 3, 2016

One Year MBA in India - Its Relevance and Growing Demand

In recent years, the trend of getting MBA degree has witnessed an increase among corporate workers. Many executives of age group between late 20s to late 30s are looking to take a break and pursue for MBA degree. The crucial part is, choice between 1 year MBA or 2 years MBA program. 

Both have there own arguments, however when it comes to MBA for experiences aspirants, 1 year MBA make more compelling case. Know why : 
1) Opportunity Cost : 
Opportunity cost is the amount in terms of Money and time, you lose while engaging in activities other than job. For an MBA aspirant with experience of 5-8 years or more, opting 2years MBA program will be more expensive. As, he will be required to take a break from his job for 2 years. It points to salary loss of 2 years as well increments and a break in experience track. 
In simple terms, the 1 year MBA will he half of a 2 year MBA program, considering all other factors being equal. 

2) Optimum Utilization of Time Resource : 
 In a 2 year MBA program, 1st year covers the basics of business concept and 3 months of industrial training to gain experience. For and MBA aspirant who is having experience of more than 5 years, it is expected to be clear on basics and experience he is already having. 
Then why to spend 1 year on the things which are not required. 

3) Ability to focus : 
In a 1 year MBA program, the aspirant has to study as much as for another one in 2 years. But doesn't the experienced candidate comes with a benefit of focus, concentration and stamina along with the ability to comprehend the concepts. He can cope with the extra efforts required to save 12 months.  
 4) Relevance of Classmates : 
1 year MBA program attracts more experienced candidates who can easily relate to each other in class, giving them an opportunity to grow the network. On the contrary, the freshers with no experience find it hard to connect themselves to the rest of the class. 
With increasing popularity of 1 year MBA program in India, most of the major institutes including IIMs, ISB, XLRI, SP Jain and other B-Schools, are offering 1 year MBA with new programs and specializations as well. 



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