One-year MBAs are the go
For the first time ever, one-year Master of BusinessAdministration (MBA) degrees are more popular than the traditional two-yearequivalent. CarringtonCrisp introduced Tomorrow’sMBA in 2009 — a survey for students to have their say on the qualification,with the latest poll collecting results from 1,463 students in 75 countries.
Respondents from the United Kingdom and Canada preferred theone-year MBA but there were plenty who still opted for the two-year version,including the United States, Germany and India. When students were queriedabout what factors would influence them to pay extra to study, 46 per centreferenced quality teaching staff, while attracting top employers (38 percent), strong career services (38 per cent) and high rankings (36 per cent),also made the list.
This transition reflects the Millennial generation’s desirefor instant gratification, but there is more to it than that. A 12-month courseis a considerably less intensive commitment from a financial perspective, ittakes up less time and it allows MBA students to re-enter the workplace sooner.If nothing else, a MBA on your CV is a sure-fire way to stand out in a jobinterview.
The one-year model is also suited to recent undergraduateswho want to gain their MBA before entering the workforce. This decision topursue further qualifications prior to gaining industry experience might haveseemed crazy once upon a time but this is no longer the case. The mediaattention on young entrepreneurs and start-ups that ‘go big’ quickly has onlyfuelled a hunger for Millennials to do the same – for a huge number ofgraduates, the prospect of starting their own business and founding the nextUber or Airbnb is more appealing than climbing the corporate ladder.
Even in the one-year format, MBAs are a rigorous process andparticipants must be willing to put in the hard yards. While it is no guaranteeof a high paying job, there is no doubt it will give you opportunities andconnections that will hold you in good stead somewhere down the career path.
Useful Links: