Online MBA programs are gaining popularity in Canada, particularly among working professionals seeking career advancement without interrupting their current jobs. The key drivers behind this trend are the flexibility and convenience these programs provide. Additionally, they provide valuable networking opportunities with peers from diverse professional backgrounds. The average yearly salary that an MBA degree holder earns in Canada is CAD 109,351, with a potential range of CAD 186,311. This high salary is also a significant factor in this context.
However, one of the major dilemmas that students face in selecting these programs is their duration – which one should they choose between the one-year and the two-year variants? This blog will discuss the choice between a 1-year MBA and a 2-year MBA, as well as the factors that students must consider when selecting these programs.
1-Year MBA vs. 2-Year MBA – Which Online Program in Canada Suits You Best?
When it’s time to choose between a 2-year MBA in Canada and a one-year program, students need to consider factors such as career goals, financial situation, work experience, and personal preferences.
| Area of Difference | 1-Year MBA Programs | 2-Year MBA Programs |
| Duration | 12-15 months. | 24 months. |
| Work Experience Requirements | Relevant work experience is required. | No work experience is acceptable in specific programs. |
| Learning Approach | Intensive and highly accelerated. | Scope for in-depth exploration of subjects. |
| Costs | Economical | Costlier |
| Career Prospects and Placement | Designed for career acceleration instead of job hunting. | Offers a well-structured placement process through campus recruitment. |
Duration
One-year MBA programs are ideal options for mid-career professionals seeking to accelerate their careers without taking a significant break. However, for freshers and professionals with limited work experience, a 2-year MBA program is a more suitable option, as it offers a more comprehensive learning experience. One-year MBA programs typically condense the material of a two-year course into 12 to 15 months.
Work Experience Requirements
Seasoned professionals should consider a one-year MBA program in Canada, as it enables them to upskill and advance rapidly in their careers. However, for candidates looking to switch jobs or recent graduates, 2-year MBA programs are often the preferred option, as they offer more time to build their networks and explore business concepts.
Learning Approach
For students who already have some industry knowledge and are looking to boost their learning quickly, a one-year MBA is always a better option. However, for students who require greater exposure to fundamentals and wish to participate in internships to gain work experience, a 2-year program is always the better choice. The one-year programs typically cover specialization electives and business subjects in a shorter period, while the two-year programs also offer live industry collaborations and research projects.
Costs
Candidates seeking lower overall expenses and a quicker return on investment (ROI) should always opt for a one-year program. However, students who are willing and able to invest money and time in growing their careers in the long term should always choose the longer programs. The opportunity costs of one-year programs are lower since students can return to work sooner – in fact, in most of these programs nowadays, they can work and study simultaneously.
Career Prospects and Placement
When choosing between a 1-year MBA and a 2-year MBA program, students should consider that the former is often a better option for those seeking to transition into a new industry or advance in their current job. The latter are ideal for students seeking time to explore career options and receive support for campus placements.
Also Read: How an Online MBA Can Help You Advance Your Career in Canada
Job Market Details for MBA Graduates in Canada
Studying in a 1 year MBA program in Canada can help candidates land various high-profile jobs – the same can be said for the 2-year MBA programs as well. The most popular sectors in this case are:
- Management Consulting
- Human Resources
- Marketing
- Operations
- Product Management
The leading companies that hire MBA graduates in Canada are:
- Deloitte
- EY
- RBC Bank
- Amazon
The roles where these employers mostly prefer MBAs are:
- Business Analyst
- Project Manager
- Financial Analyst
- Marketing Manager
Companies are primarily looking for MBA candidates who have specialized in:
- Finance
- Marketing
- Operations
- IT
- HR
Also Read: Should I Get an MBA for Career Growth?
Take the Next Step in Your Career with upGrad’s Online MBA Programs in Canada
No matter which one a candidate chooses between a one-year MBA and a two-year MBA program, one can never ignore the importance of quality education. This situation is where the online MBA programs available through upGrad can be so beneficial for the students.
- Master of Business Administration (MBA), O.P. Jindal Global University
- Master of Business Administration, Paris School of Business
- Master of Business Administration, Golden Gate University
- Master of Business Administration, Edgewood College
- Master of Business Administration (MBA), Liverpool Business School
- Dual Degree MBA and DBA, Edgewood College
Also Read: MBA Admission Requirements
FAQs on One-Year vs. Two-Year Online MBA in Canada
Q: What is the main difference between a 1-year MBA and a 2-year MBA?
Ans: One-year MBA programs are ideal for experienced professionals seeking to acquire advanced business skills quickly. In contrast, two-year programs are suitable for recent graduates and early-career professionals looking to build a career or transition into a new one.
Q: Is a 1-year MBA as valuable as a 2-year MBA?
Ans: Both these programs are indeed valuable, but they cater to different career goals and student needs. For example, one-year programs are better for skill acquisition and career advancement.
Q: Which is better for a career change: a 1-year or a 2-year MBA?
Ans: People usually consider 2-year MBA programs to be better for career change as they offer more time for exploration, building industry connections, and networking.
Q: Can I work while pursuing an online MBA in either format?
Ans: Yes, students can continue working even while pursuing an MBA, especially in online programs designed for working professionals.
Q: Does upGrad offer both 1-year and 2-year online MBA options?
Ans: Yes, upGrad offers both one- and two-year MBA programs, with the longer option being the 30-month Dual Degree MBA and DBA program from Edgewood College.
