The length of the MBA program is an important criterion on how to choose the right program. The range varies from a traditional two-year program to shorter options which can be anywhere between 10 to 18 months.
Traditional two-year MBA programs imply considerable opportunity costs in terms of forgone salary and time out of the job market. The two-year option allows more time for reflection about the future and provides the opportunity for in-depth study or an internship. For applicants who want to change careers, it is a good idea to undertake an internship and gain some work experience in the industry they would like to enter after the MBA. There is less stress than in a shorter programme because more time is available, especially for job searching.
If candidates have a fairly clear idea about what their next career step will be, a one-year program might be a better option. The intensity of the program is undoubtedly higher but the opportunity costs are significantly lower.
A compelling alternative is probably the 16-18 months long MBA programs which are offered at many Australian business schools. The full-time MBA usually starts in January as opposed to September. They offer a rigorous academic experience as well as the option of an internship or exchange at significant lower costs in terms of tuition and forgone salary.
Thomas Schroeder
Australia Graduate School of Management
The benefits of a two-year MBA program
There are two very distinct advantages to participating in a two-year MBA The first advantage is the opportunity to participate in an internship between the first and second year. This possibility is especially important if you are thinking about gaining work experience in another country and/or considering a change in career. Recently Brandeis IBS students completed internships at the following companies/organizations; Ernst and Young, HSBC, Citgo, United Nations, Goldman-Sachs, Bank of America, Pfizer, Merrill Lynch, TJX Corporation and The World Bank. Often summer internships lead IBS students to full-time employment within the same company. IBS students have also gained work experience within the US during the summer and then are hired for full-time employment at the same company located in their home country.
The second distinct advantage of participating in the two-year MBA program is the opportunity to gain international experience and language proficiency. Students without such experience typically spend a semester of study abroad at a distinguished universities located in Asia, Europe, Latin America and the Middle East. Most students study abroad during the fall semester of their second year allowing access to an extraordinary wealth of courses in subjects that can't be covered in depth at any single university.
Holly Chase
International Business School (IBS)-Brandeis University
18 months programme
"A one year MBA gives you the ammunition, the extra 6 months teaches you how to fire it".
The 18-month MBA programme is long enough to allow you to learn theory and then to put it into practice through a series of projects with companies, which become increasingly complex as you go through the programme. The extra 6 months gives you the opportunity to take an internship; go on Exchange to another business School; learn about European business practices in other European countries through the European Study Programme and to specialise your MBA through a wide variety of electives.
Roy Dunbar
Vice-President and Chief Information Officer,Eli Lilley
1990 Manchester Business School alumnus
