Many of us are attracted to the prospect of earning an MBA within one year, instead of investing two years in a conventional MBA program. There are ample of institutes and universities abroad that offer one-year MBA programs, taking in the best of experienced professionals and training them to take up much higher roles. But how is a two-year course delivered in one year and how does it differ from two-year programs? Who is this program more appropriate for? What are my gains? Let’s find out.
A one-year MBA, designed for professionals with at least two years of work experience or more depending on the business school offering it, leverages the same experience and industry exposure to steer classroom discussions. Yes, discussions, and not lectures. A typical classroom session involves a faculty member guiding the discussion around concepts and students relating to those concepts through their own professional experiences, applying them to historic business cases and developing pragmatic solutions to business problems. A whirlwind of perspective ensue and insights, the status quo and questioning conventional wisdom. The faculty does not need to begin from the basics and can get down to business quicker with such a cohort.
College Comparison based on Courses, Placement, Rank, Fee
Summer internships are not a part of the one-year curriculum as the students already have the industry exposure that they need. Instead live-projects and experiential learning programs provide an opportunity to work on projects with companies, under the mentorship of a faculty member (and often also an industry mentor) and develop innovative solutions to real-world business problems. This helps a student to be confident as a management professional by the end of the course.
A one-year program cuts back on redundancy and gets students to speed by leveraging their own experience. The quality and completeness of the curriculum is maintained to ensure a holistic learning experience, with peer-learning forming a major component of it.People from different academic background, job profiles and industries come together to share their own insights, put their experiences to concept and relates them to real-world examples.
As Stated by the most leading business schools conducting these programs, one year program are quite studious but they bring out the best in each candidate. Class hours are longer than those in other programs, followed by assignments, projects, readings and case analysis for the next day. To quote a one-year program alumnus from an Ivy League business school, the first few core terms are in fact a pressure cooker. But that same rigor trains a student to stay charged up and handle tense situations and unpredictable challenges at workplace. And what else does this reward one with? Let’s look at the benefits.
The longer you stay as a part of a workforce, the harder it gets for you to take a break and live without a steady income while pursuing higher education. This opportunity cost increases with the duration of hiatus. Here the opportunity cost is the income that you forego when you take a break from work and pursue higher education. Existing loans and family responsibilities make it even more difficult to take a break for two long years. A one-year program halves the opportunity cost and lets you get back to your professional and personal life in a year.
There are those who work hard and wait for the next appraisal, traverse the hierarchy and climb up the corporate ladder. And then there are those who jump a few levels and take up managerial roles by investing their time and efforts in management education. It’s one year in a business school versus years of appraisals and job changes. An investment of money, time and effort in the former saves one all the time and effort that would be spent in the latter.
While fresh minds are still in their second year of management education and busy getting placed, the one-year graduates are already awaiting their first appraisal. Who wouldn’t want faster returns on investment?
One-year programs are gaining more and more traction every year with some of the elite institutions in the country such as Indian School of Business, Great Lakes Institute of Management, Indian Institute of Management Ahmedabad, SP Jain Institute of Management and Research, and others rolling out these programs for experienced professionals. Admissions to these programs are conducted through major management entrance exams such as GMAT, CAT and XAT, and follow the same rigorous admission process with Test Score and Profile-Based Shortlisting, Essays/Statements of Purpose, Written Ability Tests, and Personal Interviews. Both types of programs serve to a different type of audience and carry equal dependability. It’s just a question of how appropriate a particular program is for an aspirant based on experience and background.
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PGDM Class of 2019
PGPM Class of 2019
PGPM 2020-21 Eligibility
PGDM 2020-22 Eligibility
Applicants are evaluated based on GMAT/CAT/XAT/CMAT scores, past academic performance, essays, work experience (if any) and performance in the personal interview. The selection process builds in a criterion that facilitates evaluating each applicant on Academic Abilities, Standardized Test Scores, Rank Holders,
Integrity & Ethical Values and Diversity of Background. At Great Lakes, we do not have fixed
cut-offs, we try to evaluate candidates in a holistic manner. We consider the complete profile, so while the test scores are important, we emphasize more on selecting well-rounded candidates with a strong overall track record.
Applicants are evaluated based on GMAT/CAT/XAT/CMAT scores, past academic performance, essays, work experience (if any) and performance in the personal interview. The selection process builds in a criterion that facilitates evaluating each applicant on Academic Abilities, Standardized Test Scores, Rank Holders, Integrity & Ethical Values and Diversity of Background. At Great Lakes, we do not have fixed cut-offs, we try to evaluate candidates in a holistic manner. We consider the complete profile, so while the test scores are important, we emphasize more on selecting well-rounded candidates with a strong overall track record.
Click here (https://www.greatlakes.edu.in/chennai/pgpm/placement-snapshot)
Click here (https://www.greatlakes.edu.in/chennai/pgdm/placement-snapshot)
Please note that
and candidates with less than 24 months of work experience as on 30th June 2020 are eligible to apply for PGDM 2020.
For PGDM 2020 Intake, Great Lakes Institute of Management will accept scores of GMAT taken after 1st January 2018, CAT taken in 2018/2019, XAT taken in 2019/2020 or CMAT taken in 2019/2020.
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