What's right for me - 1 year or 2 year MBA?

After giving the GMAT, a lot of students are confused whether to go for a 1 year or a 2 year MBA program. It needs to be understood that this has to be a very personal decision depending upon one’s unique journey so far and his/her aspirations out of the program.

The following considerations should be kept in mind while deciding upon the same:

1.     Years of work experience: somebody with higher range of work experience would have to forego a greater salary and would like to return to the job market quickly enough. Such people tend to go for a 1 year program more often.

2.     Career aspirations: For people desiring a drastic shift in the industry/function, a 2 year program offers greater opportunity to hone new skills and intern in the new industry of their choice while such choices would be very limited in a 1 year program. However, I have seen many people making drastic shifts in a 1 year program as well, but the number is much lesser and it depends on how easily can you transfer your skills to the new role.

3.     Country of MBA: most of the US schools offer a 2 year program whereas most European schools have a 1 year program. However, many US schools have also started offering 1 year programs lately.

4.     Fee and Living Expenses: 2 year programs are costlier in terms of the academic fee that has to be paid for 2 years as well as living expenses (that are significant in countries like the US) that need to be incurred for 2 years.

5.     Visa Policies: Many countries like Australia offer extended Visa stays after a 2 year program, but not after a 1 year program.

Summarizing, there are excellent B schools in both the categories, and one should consciously decide keeping in mind the factors outlined above.