Answer: A one-year MBA is a specially formatted MBA program that allows students who have completed certain prerequisites to bypass introductory classes in business administration and move directly into advanced courses. These programs may be completed in one calendar year by students who remain enrolled full-time through summer, spring, fall, and in some cases winter terms or semesters.
One-year MBA programs, sometimes called “accelerated” MBA programs, are Master of Business Administration degree programs that can be completed in one calendar year of full-time enrollment. This typically entails taking three-to-five courses per semester for four consecutive terms (summer, spring, winter, fall). Students in a one-year MBA program are allowed to skip or place out of three or more introductory courses in subjects like economics, marketing, and quantitative analytics (i.e., mathematics and statistics) and enroll in advanced and elective courses that students in a traditional two-year MBA program complete during their second year. Some one-year MBA programs allow students to opt for a specialization in accounting, economics, finance, human resources, marketing, operations management, strategic marketing, organizational leadership, and other areas of business administration.
A key feature of one-year MBA programs is the admissions process. These programs are designed for students who have completed several undergraduate courses in subject areas that would otherwise be covered in foundational MBA program classes. While specific prerequisites vary by program, one-year MBA programs typically require applicants to have taken college-level courses in statistics and financial accounting. Some programs may also require an introductory economics course (i.e., microeconomics, applied economics, business economics, or managerial economics) and a course in the principles of marketing and/or operations management. The number of prerequisites varies by program from as few as two to as many as ten, which may constitute a formal undergraduate business minor or major, and applicants who majored in business generally meet the qualifications to apply to a one-year MBA program.
The following list details common course prerequisites for one-year MBA programs:
Because these prerequisites vary by program, it is important for prospective applicants to carefully research the admissions criteria for one-year MBA programs. In addition, some one-year MBA programs may prefer candidates who have prior work experience, or require applicants to have spent two or more years working in a business field. A subset of one-year MBA programs are designed exclusively for students who have already earned a graduate degree in another field (e.g., an MA, MS, MEng. MEd, MHA, MPA, JD, or MD), or who hold a certification in a field related to business (e.g., Chartered Financial Analyst, Certified Public Accountant, or Fellow of the Society of Actuaries).
Like other types of MBA programs, one-year MBA programs can be accredited by three organizations that work to ensure that business programs meet certain standards for training and instruction in the field of business administration. Potential applicants should look for programs accredited by the Association to Advance Collegiate Schools of Business (AACSB International), the Accreditation Council for Business Schools and Programs (ACBSP), or the International Accreditation Council for Business Education (IACBE).
One-year MBA programs generally include courses that cover some or all of the following topics in business administration:
Students in a one-year MBA program may also have the opportunity to enroll in electives that cover special topics in business administration, including real estate, taxation, financial products, international business, and entrepreneurship. Some programs offer defined tracks in one or more areas of business administration. An MBA specialization generally includes at least two required courses in a particular field. Accounting, economics, finance, marketing, operations, and organizational leadership are examples of common MBA specializations. Prospective applicants who are interested in a particular specialization should examine the details of one-year MBA programs to determine whether or not a program offers that specialization.
One-year MBA programs are offered in a variety of formats, using traditional classroom-based instruction, online courses, and/or a combination of the two. Campus-based programs require students to commute regularly to a college or university campus for classes, which may be difficult for students who do not live near a school that offers a one-year MBA program. In addition, campus programs may pose challenges for students who have work, family, or other commitments outside of school. However, traditional classroom based instruction may be ideal for students who prefer or need the structure of weekly on-campus classes. Campus-based instruction may also foster spontaneous, student-to-instructor and peer-to-peer interactions more readily than than online programs.
Online degree programs typically offer more convenience and flexibility, as students do not need to commute to campus to attend lectures. While some online programs require students to be logged on to the school’s distance learning platform at certain times to participate in live lectures and other course activities, others allows students to log on whenever it is convenient for them to view lectures and complete assignments. Online programs may be preferable for students who have significant personal or professional time commitments outside of school. However, they require self-discipline and self-motivation to keep up with lectures, readings, and assignments.
In addition to online and campus-based programs, there are hybrid one-year MBA programs that offer a mix of online and campus-based instruction. Some hybrid programs allow students to choose whether or not to take particular courses online or on campus, while others offer courses that combine online instruction with limited campus-based sessions. Students interested in attending a one-year MBA programs should research programs carefully to determine which format meets their particular needs.