Accelerated MBA programs, or one-year MBA programs, as they are sometimes called, allow qualified professionals to complete a graduate business education more quickly by increasing workload, eliminating vacations and internships, and streamlining the curriculum. These programs typically last from 10 to 15 months and deliver the same curriculum and degree as other MBA programs at the same institutions. The result is a graduate business education delivered with minimal opportunity costs through a high-intensity academic experience which bonds students closely with their classmates to create an invaluable professional network.
When to Pursue an Accelerated MBA Program
Experienced professionals looking to gain a new set of business skills and knowledge quickly in order to accelerate their progress on their current career paths are ideal candidates for one-year MBA programs. Applicants should be looking for an unusually intensive and challenging graduate business education experience, during which it will be essential to form tight bonds with classmates in order to complete collaborative assignments on a tight schedule. Additionally, one of the major draws of accelerated MBA programs is that they do not require students to forgo their salaries for as long as full-time programs.
When to Avoid an Accelerated MBA Program
Earning an MBA degree in one year is a huge commitment which brings with it a degree of stress some individuals simply are not prepared for. Those with extensive personal commitments and those who wish to continue working while earning their degrees would do better to consider other paths to the MBA degree. A week in a one-year MBA program can require as many as 100 hours of student work — as much as or more than would be required of students in their first post-graduation jobs. Students looking to change fields would also benefit from the increased specialization allowed by #full-time MBA programs.
What an Accelerated MBA Program Means to Your Career
Any MBA program will almost certainly lead to increased job opportunities, increased earnings, accelerated promotions and a significantly expanded professional network. Accelerated MBA programs lead to the largest average salary increases, aside from full-time two year programs. Accelerated MBA students see an average salary increase of $12,000 and an average annual salary of $73,203 at their first post-graduation jobs. Considering the low opportunity costs associated with these one-year programs, financially speaking this is a very efficient way to advance your career to the next tier of management.
Accelerated MBA Program Rankings
There are no comprehensive rankings specific to accelerated MBA programs, but applicants to these programs can use the general MBA program rankings as a rough guide.
According to the U.S. News and World Report 2012 Business School Rankings, these are the top nine MBA programs:
- Harvard University
- Stanford University
- University of Pennsylvania (Wharton)
- Massachusetts Institute of Technology (Sloan)
- Northwestern University (Kellogg)
- University of Chicago (Booth)
- University of California — Berkeley (Haas)
- Columbia University
- Dartmouth College (Tuck)
- Yale University