A one year MBA degree is a full-time degree program that tends to be fast-paced and specialized. It is geared at business professionals who wish to quickly complete their educational requirements. To succeed in a one-year MBA degree program, students must be highly motivated, have good time management and organizational skills, and also be highly focused in their professional goals. The entry requirements for this accelerated MBA degree program may require students to be full time, as well as have related business experience. The level of experience is usually two years or more. In many cases, students take a year off from working to fully dedicate their time to completing the degree requirements. The accelerated MBA is a variation of the standard two-year MBA program, where the course load is heavier and more intense. The accelerated MBA degree program is especially designed especially for students who have an advanced degrees, good quantitative skills, and strong leadership potential. It also suits students who have strong academic backgrounds in economics, business and substantial related work experience. When selecting an accelerated or one-year MBA degree program it is important to examine both the pros and cons. .
Advantages of One-Year MBA Programs
There are several advantages of the one-year MBA degree program. For one, since this is a highly specialized degree, business courses taken tend to be directly related or focused on current issues related to business and industry.
Since students in the accelerated MBA degree program tend to have related professional experience, skills and knowledge learn often complement your work place experience. With less core course work than typically required by two-year MBA degree programs, the accelerated MBA offers business classes that complement theory and practice. In addition, students get the opportunity to network with other business professionals.
Disadvantages of One-Year MBA Programs
One downside of the one year MBA online degree program is that since the program is accelerated, students sometimes have to quit their jobs during the time they are attending graduate school, and this means that they are not able to earn income.
Another con of the one year MBA online degree is that given the intensity of the program of study, students without good organizational and time management skills can get less out of the program in addition to higher levels of stress, especially those who have other work and family obligations.
Given the full-time nature of the program, financing the one year MBA online degree requires more money up-front, unlike part-time programs where students can take courses at their won pace. However, loans, scholarships, and grants are generally available to students.
The one year MBA online degree is nonetheless ideal for students and professionals who are motivated and committed to advancing their careers.
The salary with an MBA will be determined by various factors:
- The type of MBA you earn
- Your level of professional experience
- Where you live
- The industry in which you work
- Prestige of the school you graduate from
The following salaries by job title as of 2011
- Colleges and universities – $50,503
- Banking – $64,212
- Health-care – $84,072
- Manufacturing – $85,303
MBA holders working as financial controllers, information technology project managers, chief financial officers, senior financial analysts, etc earn between $92,802 to $166,066. Those in human resources make between $50,946 to $77,782. The advantage of pursing a one year MBA is that you can can be done much faster to then concentrate on growing your career.
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