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Top 10 One-Year MBA Programs 2024: Fees, Admissions, Jobs

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29th Feb, 2024
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Top 10 One-Year MBA Programs 2024: Fees, Admissions, Jobs

I know from personal experience that the MBA route is complex and reflects the variety of its students. Due to busy schedules, many cannot commit two years to a full-time program. The good news is that over the past decade, reputable business institutions in India have introduced cutting-edge one year MBA programs tailored for working executives.  

As an MBA graduate myself, I enrolled in one of these intensive 12-month programs designed for professionals with a few years of work experience under their belt. Modern professionals are presented with an unprecedented array of alternatives to acquire an MBA in a cost-effective and time-efficient manner, including the exploration of MBA online courses and abbreviated programs offered by Indian institutes.  

What is a One-year MBA Program? 

An accelerated graduate business degree, a One-Year MBA program is specifically tailored for seasoned professionals who aspire to advance in their careers without taking an extended break. 

Primarily designed for candidates with at least four years of substantial professional experience, these programs typically last from 12 to 15 months. Condensing the information into a more compact form, these courses cover the same basic knowledge and skills as the traditional two-year MBA within a shorter duration. The selection of core courses is diversified by various specialized electives, such as finance, marketing, and strategy, for this role fundamentals of management studies. 

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In most of the Indian B-schools, a one-year MBA program requires candidates to clear standardized entrance examinations like CAT, MAT, or XAT. Indian top colleges like IIM Indore, Bangalore, Hyderabad, and XLRI offer shorter courses. These top business schools regard one-year and two-year MBAs equally. 

A one-year MBA offers numerous benefits, but many students want to expedite business management education and career advancement. Short timeframes need more work and alertness.  

Experienced personnel who love the project and want to make it work may benefit in the long run. The possibility to quickly rise to leadership roles and improve your skills is important and worth researching. 

Advantages of a One-year MBA Program 

One-year MBA programs online are becoming more popular since they provide several benefits for students wishing to rapidly increase their business credentials. Here are the main advantages of one-year MBA programs: 

  • Time Efficiency 

The most noticeable thing about one-year MBA programs is their short duration. Accelerated MBA programs allow working people to graduate in 12–15 months. This benefits those who cannot afford to quit a two-year employment for a traditional MBA school. People working overseas benefit from the one-year framework since it decreases time away from work. 

  • Cost-Effective 

One-year MBA costs are cheaper than two-year ones—the shorter course type and duration lower the cost. Thus, for resource-constrained professions, one-year MBA programs are affordable. They serve as more economical options compared to cheaper part-time MBA programs. 

  • Intensive Learning 

Due to the accelerated schedule of the comprehensive MBA, which typically spans from 12 to 15 months, one-year MBA programs provide a rich learning atmosphere where students are consistently challenged in their education. Adhering to a quick tempo demands heightened concentration and superior time management from learners, potentially leading to accelerated understanding and memorization of basic business ideas. Students are required to go beyond perceived boundaries. 

  • Quick Return on Investment 

If a one-year MBA program graduate or that of a two-year MBA program comes to graduate, the one-year MBA graduate has a better chance of re-entering the workforce than the one who has come to graduate from a two-year MBA program. This translates into expedited career advances, thus satisfying the need to apply newly acquired skills. The fact that practitioners may enjoy a very short investment turnaround because of the fast delivery time of these programs makes them financially attractive. 

  • Equal Value 

The value and prestige of a one-year MBA may be equal to that of a two-year MBA, but this holds true only if obtained from a high-quality academic institution. Similar to the top one year MBA programs in India, the United States, and elsewhere, graduates from these programs can expect comparable pay raises, leadership positions, and opportunities for upward career movement. 

Top Universities for 1-Year MBA in India   

Leading business schools across India now offer one year MBA programs in India, options catered to working professionals and recent graduates. Careful evaluation of one year MBA programs in India will help applicants find the ideal fit to achieve their goals and advance their careers. The top choices are: 

1. IMT Ghaziabad 

  • Ranking: The university has been ranked 13th overall and 5th in Private in Business Today B School ranking 2023. 
  • Program Name: Advanced General Management Program from IMT Ghaziabad  
  • Admission Details: The program is selected by upGrad and IMT-Ghaziabad’s Admission Counsellor Team based on profile assessment. Provisional admissions are given to shortlisted students. 
  • Pre-requisite: Candidates for the Advanced General Management Program must have a bachelor’s degree from a UGC-approved institution with at least 50%. 
  • Annual Tuition Fees: ₹1,27,119/- plus 18% GST. 
  • Placement: The flagship Two-year PGDM and Two-year PGDM programs at IMT Ghaziabad placed all students in 2021-23. The median annual salary was 16.0 lakhs, while the average was 17.35 lakhs. The top domestic income was INR 34 lakhs, while the foreign salary was INR 65.6 lakhs. 

2. Indian School of Business (ISB), Hyderabad 

  • Ranking: #31 in Global MBA 
  • Program Name: Post Graduate Program in Management 
  • Admission Details: Admission is typically based on GMAT/GRE scores 
  • Pre-requisite: 4+ years of work experience 
  • Annual Tuition Fees: INR 41,78,000 
  • Placement: The ISB PGP class of 2023 received 1578 offers from 222 recruiters. The average class income was 34.21 Lakhs per year, 2.5X the pre-ISB CTC of Rs 13.39 lakh. 

3. Indian Institute of Management (IIM), Bangalore 

  • Ranking: 48th B-School Globally 
  • Program Name: Master of Business Administration, Executive Post Graduate Programme in Management (MBA) (EPGP) 
  • Admission Details: Admission is typically based on GMAT/GRE scores 
  • Pre-requisite: 4+ years of work experience 
  • Annual Tuition Fees: INR 31.05 lakhs 
  • Placement: The 2022-23 batch of the one-year Executive Post Graduate Programme in Management (EPGP) at IIM Bangalore recorded 100% placement well before the convocation.  

4. Indian Institute of Management (IIM), Calcutta 

  • Ranking: #67 globally for MBA 
  • Program Name: MBA for Executives Programme 
  • Admission Details: Admission is typically based on GMAT/GRE scores 
  • Pre-requisite: 4+ years of work experience 
  • Annual Tuition Fees: INR 31 Lakhs 
  • Placement: Average salary was INR 28.75 Lakh, up 9.56% year over year. Median salary was INR 26.00 Lakh, up 6.51% year over year. 

5. IIM Kozhikode 

  • Ranking: #77 in PG Programme 
  • Program name: PG Programme in Business Leadership (PGP-BL). 
  • Admission details: However, admission into the program is tough, for which the applicant must score a valid score in CAT/GRE/GMAT, followed by a Personal Interview. 
  • Pre-requisite: Candidates shall be required to have an undergraduate degree, any discipline, with more than 50% of marks or equivalent CGPA. They should also meet the minimum 3-year minimum managerial, professional, or entrepreneurial experience threshold via postgraduate employment. 
  • Annual tuition fees: INR 22.5 Lakhs. 
  • Placement: Placements at IIM Kozhikode 2023 were pretty much successful, with all students who graduated getting job placements. The median package was INR 27 LPA, while the average was 31.02 LPA. The top salary was INR 67.02 LPA. 

6. XLRI Jamshedpur 

  • Ranking: #99 globally in MBA 
  • Program name: Post Graduate Diploma in Management (General Management). 
  • Admission details: Candidates are picked through a two-stage process that first requires an XAT/GMAT/GRE score, followed by a personal interview. 
  • Pre-requisite: The candidates must hold a bachelor’s degree of at least four years from a recognized institution and at least 5 years of management experience by 31st March 2024. 
  • Annual tuition fees: INR 23.15 Lakhs. 
  • Placement: XLRI Jamshedpur managed to 100 percent placement of its 463 students from all the 2021-23 batch of its premier programs. The average salary was INR 32,70,000, with a median of INR 30,00,000. The highest domestic package was INR 78.2 LPA, while the highest international package was INR 1.1 CPA. 

Top Universities for 1-Year MBA Worldwide 

One-year MBA programs are popular globally among working professionals and young graduates wishing to speed up their business credentials. One-year MBA programs worldwide should be researched to identify the greatest fit for applicants. Top picks include: 

1. MBA (Global) from Deakin Business School 

Academic excellence, employment experience, probability of success, availability of spots, participation criteria, regulatory requirements, and individual circumstances determine program admission. The minimal course entrance criteria are required for consideration, but admission is not guaranteed. 

  • Pre-requisite: 

The eligibility admission condition for this program includes successful completion of a postgraduate pathway in international management, which is approved by Deakin University, plus at least 3 years of working experience, which can be counted as full-time equivalent. 

  • Annual Tuition Fees:  

The tuition fee for the MBA (Global) program is forty-four thousand and eight hundred Australian dollars. 

2. INSEAD

  • College Ranking: Ranked #2 in the FT Global MBA ranking 2021. 
  • Program name: Master’s in Business Administration. 
  • Admission details: Apply online with appropriate documents. Selecting candidates takes nine weeks after application. 
  • Pre-requisite: Candidates with 2 years of experience, a BA and GMAT, GMAT Focus Edition, or GRE scores applied. 
  • Annual tuition fees: The tuition fee is €97,000. 
  • Placement: An astounding number of 94% the MBA confirmed that they had at least one job offer ready in their hand 3 months after the graduation ceremony.  

3. University of Cambridge Judge Business School 

  • College Ranking: 12th globally in MBA  
  • Program name: Cambridge MBA 
  • Admission details: The application process requires an online form and documentation. Selection takes up to nine weeks after application submission. 
  • Pre-requisite: Work experience, a bachelor’s degree, and a GMAT, GMAT Focus Edition, or GRE score are required. 
  • Annual tuition fees: The tuition fees for the Cambridge MBA are £69,000. 
  • Placement: 94% of 2021 MBA graduates got a job offer three months after graduating. The package salary was £92,501. 

4. Kellogg School of Management, Northwestern University, Evanston, Illinois 

  • College Ranking: Ranked No. 2 in Best Business Schools and No. 3 in Part-time MBA. It is also ranked No. 11 in the Global MBA Ranking 2020. 
  • Program Name: 1-Year MBA program. 
  • Admission Details: The acceptance percentage is 31.4%. The recommended GMAT score is 720. Academic transcripts, TOEFL iBT or IELTS scores, and two 450-word essays are also required. 
  • Pre-requisite: The program is designed to build on your business fundamentals with courses in Statistics, Economics, Marketing, and Operations. Pre-enrollment courses must be completed before the summer quarter. 
  • Annual Tuition Fees: The tuition fee for the 1-year MBA program is $112,336. 
  • Placement: At graduation, 87.30% of graduates of the full-time program are employed. 

5. Samuel Curtis Johnson College of Business, Cornell University 

  • College Ranking: Ranked No. 45 in the Global MBA Ranking 2023.  
  • Program Name: Johnson Cornell Tech 1-Year MBA program. 
  • Admission Details: The acceptance rate of this one-year MBA program in the USA is less than 20%. The recommended MBA application kit for Indian students will require a GPA of 3.34, a GMAT of 700+, and work experience of a considerable 5 years. 
  • Pre-requisite: The program plans to change tech-skilled people into business leaders and entrepreneurs. 
  • Annual Tuition Fees:  
  • Placement: Out of 306 graduates of two-year MBA programs in the class of 2023, 93% found full-time employment just 3 months later. 

Jobs and Career Opportunities  

Alumni of a one-year MBA program are presented with an extensive array of professional prospects across diverse industries. Some examples of well-compensated jobs that one may consider include: 

Logistics Manager 

The Logistics Managers make sure that the supply chain is well-oiled within their organization. They are responsible for the coordination, storage, and tracing of the commodities which should reach their destinations. They also define where and how they should acquire the products they want to convey and the cheapest mode of transport to move them. As for the yearly mean salary for this position, it’s ₹3,32,072 

Marketing Manager 

Frequently, the planning and monitoring of the marketing budget for an entire department, a specific segment, or an individual campaign falls under the purview of the marketing manager. In addition to developing pricing and marketing strategies, they supervise marketing department personnel and generate new business prospects. The national average salary for this role is ₹3,52,799 per year. 

Business Operations Manager 

The duties of a Business Operations Manager include overseeing all business operations and establishing objectives for the entire organization. They supervise project teams and ensure that all operations are operating efficiently, including recruiting new personnel, managing budgets, and understanding general business operations. The national average salary is ₹3,54,659. 

Human Resources Manager 

Human resources managers play a crucial role in organizations by supervising the processes of staff recruitment, hiring, and interviewing, advising senior executives on strategic planning, and acting as an intermediary between the management and staff of the company. The national average salary is ₹3,59,303. 

Financial Analyst 

An individual holding the position of Financial Analyst is tasked with an extensive array of responsibilities, which encompass data collection and organization, historical result analysis, forecasting and projection creation, recommendation provision, and the generation of Excel models, presentations, and reports. They provide organizations with recommendations regarding process optimization by analyzing financial data. The average salary is ₹4.93 Lakhs. 

Finance Manager 

Advising an organization on how to increase profits through prudent financial practices and monitoring and enforcing compliance with finance-related laws, procedures, and regulations, such as tax filing and financial reporting, are the responsibilities of finance managers. The average salary is ₹15,00,000. 

Bank Manager 

A Bank Manager is responsible for overseeing all business operations, including sales, customer service, staff management, administration, security, and compliance. A bank manager in smaller communities and branches is typically solely responsible for all operations, including market analysis, forecasting, establishing financial objectives, and attaining branch business goals. The average salary is ₹9.2 Lakhs. 

One-year MBA Program vs Regular MBA  

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Pursuing an MBA is a major investment of time, money, and effort. Prospective students must decide between traditional two-year MBA programs or accelerated one-year options. The choice depends on individual factors like: 

Parameter One-Year MBA Program Regular MBA 
Duration 12-15 months 2 years 
Course Curriculum Accelerated and condensed Comprehensive at a normal pace 
Admission Criteria 3-5 years of work experience required Generally, no work experience is required  
Cost Lower tuition fees Higher tuition fees 
Learning Experience Intensive and immersive Relatively gradual 

Conclusion  

One-year MBA programs are a preferable method for experienced workers striving to reach their management potential as opposed to two-year MBA programs, which are more expensive and not short enough. In addition to a year of MBA courses that run in India, the US, and the world at large, all students are welcome, and rigorous academic programs are guaranteed. Time and dedication required for the accelerated program completion can affect graduates who could get quicker career development and higher ROI. 

However, if you are unable to spend that much time absent from the workplace, there are well-recognized one-year MBA programs, both in-person and virtual. Professionals can obtain a reputable management credential in just 12 months with options like the Post Graduate Diploma in Management from BIMTECH. The finest one-year MBA programs offer a brief МВА experience to suitable candidates who yet keep the benefits of strategic insight and value but at a much lower cost and time than an MBA degree would take. 

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Frequently Asked Questions (FAQs)

1Are 1 year MBA programs worth it?

Yes, 1 year MBA programs are worth considering for experienced professionals seeking to advance their careers more quickly. The accelerated format delivers the same quality education and opportunities at a lower cost and time investment. Graduates can reap benefits like fast-tracked career growth, higher salaries, and quicker ROI. The top one-year MBA programs in the world provide value for the right candidates.

2Does IIM have 1 year MBA?

Yes, prestigious IIM schools such as IIM Bangalore, IIM Indore, and IIM Lucknow have recently introduced one-year MBA programs in addition to their traditional two-year MBA programs. These programs' curriculum and admissions requirements are of the same high standard but compressed into a single year.

3Is 1 year MBA better than 2 years?

Whether a 1-year MBA or 2-year MBA is better depends on individual needs and goals. For experienced professionals unable to take a long break, the best one-year MBA programs allow faster completion at a lower cost. However, 2-year MBAs offer a more comprehensive curriculum over a more manageable timeline. Candidates should weigh factors like career stage, learning style, and budget.

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