The One year MBA or the accelerated MBA programs in USA typically start from May/ June. These are super fast paced programs and as compared to the two year MBAs, they are more suited to those candidates who wish to accelerate their careers, without desiring drastic career changes. Moreover, while these programs allow for several small duration projects, they lack a summer internship, which many candidates use to pivot their careers into new directions. Because of the intense nature of the programs, some of them require students to come prepared with basic knowledge of business related subjects and mastery of quantitative concepts.
Here, we give a description of some of USA’s best known one year MBA programs.
Kellogg School of Management at the Northwestern University
The Kellogg One year MBA is one among the oldest one Year MBAs in the US, with 3,500 students graduating from this program alone since 1965.
The program is geared towards professionals who are not seeking a major career change but they do need a new set of skills to propel their careers forward. This does not mean that students cannot change their careers at all. What works more is changing one or two aspect of their professions- either the industry, or function or geography, but typically not all three. Because the program is only a year long, its important for candidates to have focused goals when they join, so that they are able to best use their time – the recruitment process starts within the second term of joining, so time is of crucial essence.
The One year MBA class comprises 130 students who are divided into two sections. Classes starts in June, when the Year1 students from the two year MBA are away from campus for their summer internships. The course begins with the core subjects – Business Strategy and Leadership in Organizations are required courses, while Finance and Accounting can be waived-off upon successfully completing an exam. Dropping core courses allows students to focus more on electives, thus customizing the program to suit their career needs.
After the summer term, the one year MBAs join the regular two year class for studying electives. The choice is huge- there are 200 electives on offer. Students can major in seven key business functions – Accounting, Economics, Finance, Marketing, Operations, Strategy and Managing Organizations. In addition, they can also take pathways to build expertise in industry-related paths. Current pathway programs are Data Analytics, Entrepreneurship, Growth and Scaling, Healthcare at Kellogg, Real Estate, Social Impact and Venture Capital & Private Equity. In all, students can pack between 12 and 16 elective courses during the one year MBA.
Just as in the two year MBA program, leadership opportunities abound. Students can join and hold positions in Clubs, organize events and international trips or participate in Labs. Basically, the extra-curricular opportunities are the same across the one year and two-year programs- its for the students to evaluate and decide how much they can pack in one intensive year.
Tuition for the One year MBA is $98,720 while estimated expenses for the year hover around $137,000
For admissions, applicants should check in on their eligibility: applicants need to have completed under graduate level coursework in statistics, economics, operations and marketing. Interested applicants should fill the eligibility form and get an assessment on their profile. Infact, the adcom encourages a discussion with applicants even if they have not completed all the four required courses, and they provide guidance on how you can do these prior to enrollment.
Cornell University – Johnson Graduate School of Management
The big difference we found in the Cornell one year MBA as compared to the other accelerated MBA programs is that students study the core semester with another program- the Cornell Tech MBA. With about 70 students enrolled for the one year MBA and another 60 in the Tech MBA, this is a sizeable cohort for peer-to-peer learning. Another unique thing is, one year MBAs can also study electives at the Cornell NY campus.
After the core segment, students can select electives from the Johnson MBA as well as the larger Cornell university, thus having access to some 4000 courses. There are 12 concentrations available and students can take upto two of these or take none at all, depending on what their goals are.
There are a plethora of options for students to get involved outside the class. As soon as the program begins, they are clubbed in teams for their core-curriculum assignments. Every student is required to lead the work on atleast one assignment and later gets feedback from the rest of the team on her leadership ability. The Leadership Expeditions puts students in difficult outdoor situations that require them to think on their feet, do extensive team work and take quick decisions. Other chances to enhance one’s leadership are through student-led clubs, events and case-competitions. In terms of global experiences, opportunities are presented through the international study trips and exchange programs.
During the fall term, students can participate in the live consulting projects called management practicum. These are a semester long and allow students to explore their areas of interests. Students can also participate in Cornell’s famous Immersion learning experience to gain indepth curricular knowledge and practical exposure to a field of their interest.
A quick look at the class profile: there are ~70 candidates. Average age is 29 years and average work experience is 5.6 years. Average GMAT score is 690. 59% of the class is international.
To be eligible for the program, students must hold an advanced degree or a professional certification. These should be completed before you enroll for the program. Eligible certifications and advanced degrees include, but are not limited to: CFA, CPA, Chartered Accountants, Society of Actuaries, project management (PMP), JD, MD, MEng, MHA, MPA, MEd, MA, MS, or PhD. Candidates interested in dual degrees are also eligible to apply. Check your eligibility here
Total cost of the one year MBA is $141,170, with the tuition alone being $107,530
Emory University – Goizueta Business School
At Emory, the one year MBA is a class of 51 students, with an average 6 years of work experience and GMAT ranging from 570-710. 24% students are international.
The Goizueta One year MBA program is split into 3 semesters. The students start their summer semester studying the core curriculum. During the next two semesters, they can customize the course to their needs by selecting from 90 electives and 20 concentrations in subjects such as finance, marketing, operations, healthcare, entrepreneurship, strategy, management, real estate, and media and technology.
The course provides students with ample opportunities to develop their leadership skills. This starts from the Summer semester itself. During the Leader’s Reaction course, which is a day-long experiential learning exercise, students participate in team-based exercises which were originally designed to train US army candidates. Other opportunities to develop leadership skills include becoming peer coach to other students through the Leadership Coaching fellow program. One can also become a GALA fellow and learn leadership while competing with teams sailing in dynamic weather conditions on the high seas.
Although students gets enough exposure to different cultures and perspectives on campus, to enhance their global outlook/ exposure, they can take part in mid semester trips to international locations such as Brazil, China, Egypt, South Africa and Thailand.
Students gain experience of a live consulting project through the Goizueta Impact core course, wherein they work in teams with clients from various industries on real business problems.
The tuition for this program is $98,000, while total estimated expenses for the entire year are approximately $126, 500.
In terms of eligibility, students should ideally have an undergraduate degree in business, economics, engineering or a quantitative major. The b-school also specifies that applicants should have identified a career path that does not require a summer internship.
University of Notre Dame – Mendoza College of Business
The Notre Dame MBA has a very small class size with only about ~40 students in class. Average work experience is 5 years and the class’ GMAT average falls in the 550-700 range.
Most students enter the program with a background in business and are looking at advancing their career. At the time of enrollment, they are required to have completed pre-requisites in financial accounting and statistics.
After the 9 week summer semester, students select a concentration in analytics, leadership, consulting, corporate finance, entrepreneurship, investments or marketing. Among the experiential learning features is the Applied Investment Management course (AIM) where MBA students manage a live portfolio. Another experiential program, Business on the Frontlines affords a unique opportunity to make impact on society by working on a business project in post conflict countries.
To gain global exposure, students can embark upon a 10-days immersion trip to China, South Africa or South America
Tuition for the MBA is $78,874, with 75% of the class being awarded fellowship
Joseph M. Katz, Graduate School of Business at the University of Pittsburgh
The Katz MBA offers one year MBA students a chance to concentrate in one of 6 concentration areas in finance, marketing, operations, strategy, organizational behavior and information systems. Students can also undertake a Katz certificate, which is an experience-based learning program. There is a choice among Corporate financial Management; corporate valuation, Digital marketing; Global Management, Global Supply Chain Management; Investment and Trading; Organizational Leadership; project management, Sustainability; technology and entrepreneurship.
The total fee including tuition for the one year MBA is $68, 167.
Other b-schools that have one year MBAs are the Southern Methodist University (SMU) – Cox School of Business; Pepperdine University – Graziadio School of Business and Management; and Olin Graduate School of Business at Babson College.