The format and length of MBA programs today are increasingly diverse and flexible, catering to a variety of lifestyles and work-life balance needs. This article explores how long an MBA takes to complete – including the pros and cons of one-year and two-year MBA programs.
The length of an MBA program mostly depends on location and format. In Europe, full-time MBA programs typically last one year, while part-time programs are two years or more. However, in the United States and Canada, full-time MBA programs are usually two years and 2-6 years part-time.
There has also been a rise in Accelerated MBA programs, which last 10-16 months full-time. For example, the Accelerated MBA at the Schulich School of Business in Canada offers the value of a regular MBA but can be completed in as little as eight months.
As you can see, how long an MBA degree lasts depends largely on whether you study full-time or part-time. Each format fits with different personal and professional goals.
Here is a quick breakdown of MBA lengths and formats:
One-year MBA programs are gaining popularity for those seeking a quicker path to an MBA. They can particularly benefit MBA students looking to fast-track their careers and get a quick return on their investment (ROI).
Obinna Obiora, for example, chose to pursue a one-year MBA program at Smith School of Business so that he could return to the workplace as fast as possible with his newfound business acumen. Because they take less time to complete, one-year MBA programs are also more cost-effective than more extended programs.
However, one-year MBA programs can also be extremely intense and fast-paced. There might be better fits for students who want to take time to reflect on their development and new knowledge and information. In addition, one-year MBA programs are usually offered on a full-time basis, which means that most MBA students choose to put their careers on hold to focus on their studies. Therefore, if you would like to continue working, a full-time MBA might not be the right option for you.
All in all, completing a full-time MBA is a massive achievement. For MBA graduate Alexa Mehos, the intensity of the full-time MBA at the University of Cape Town Graduate School of Business made her feel better equipped to take on any challenge going forward.
MBA programs that last two years or more are usually offered in a part-time format. They also often occur both on campus and online, offering more flexibility for students juggling many personal and professional obligations. This flexibility is perhaps the biggest advantage of longer MBA programs.
For Adam Schoska, the part-time MBA in International Business at Vrije Universiteit Amsterdam (VU) was the best fit for him because he wanted to continue working full-time in Amsterdam. Longer MBA programs also typically include internships, which give students more time to network and identify opportunities for advancing – or switching – their careers.
On the other hand, longer MBA programs come with higher costs as they require additional tuition, living expenses, and longer time commitments. It can also be intense to work and study at the same time. Therefore, it might not be feasible for students with heavy personal obligations to take two years to pursue their degree.
Nevertheless, as Eddie Asbie, Executive Director of Admissions and Scholarship at the Cornell Johnson Graduate School of Management, explains, longer MBA programs allow students more time and flexibility to use the various benefits and garner the true value of an MBA.
Now that we’ve explored the pros and cons of different MBA formats and lengths, we hope you have a better idea of what kind of program you would like to pursue. Let’s review:
One-year MBA programs require more commitment, so you should ask yourself whether you’d be able to prioritize your studies. Having a strong support system at work and at home will also be crucial in helping you manage your priorities and demanding schedule. Meanwhile, longer MBA programs (two years or more) require the ability to balance work, studies, and personal life. However, they also provide more flexibility.
You should also consider where you want to study. As we mentioned earlier, the length of MBA programs differs from country to country. MBA programs in Europe are usually one year, while traditional MBA programs in the United States and Canada are two years. Luckily, many schools are happy to discuss your situation and provide solutions.
For example, at Columbia Business School, the MBA Deferred Enrollment Program allows students to secure a spot in their MBA program before taking a few years to gain work experience before actually starting the program.
There is no right or wrong answer. Consider your personal circumstances and professional goals, and be practical! The good news is that MBA programs today come in all shapes and sizes – and lengths! With the increasing diversity and flexibility of MBA formats, you will find the right MBA program for you.
Not sure which MBA format is the best fit for you? Reach out directly to a current or past MBA student to find out!
