One Year MBA in India - Its Relevance and Growing Demand

In recent years, the trend of getting MBA degree has witnessed an increase among corporate workers. Many executives of age group between late 20s to late 30s are looking to take a break and pursue for MBA degree. The crucial part is, choice between 1 year MBA or 2 years MBA program. 

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Both have there own arguments, however when it comes to MBA for experiences aspirants, 1 year MBA make more compelling case. Know why : 

1) Opportunity Cost : 

Opportunity cost is the amount in terms of Money and time, you lose while engaging in activities other than job. For an MBA aspirant with experience of 5-8 years or more, opting 2years MBA program will be more expensive. As, he will be required to take a break from his job for 2 years. It points to salary loss of 2 years as well increments and a break in experience track. 

In simple terms, the 1 year MBA will he half of a 2 year MBA program, considering all other factors being equal. 

2) Optimum Utilization of Time Resource : 

 In a 2 year MBA program, 1st year covers the basics of business concept and 3 months of industrial training to gain experience. For and MBA aspirant who is having experience of more than 5 years, it is expected to be clear on basics and experience he is already having. 

Then why to spend 1 year on the things which are not required. 

 
3) Ability to focus : 

In a 1 year MBA program, the aspirant has to study as much as for another one in 2 years. But doesn't the experienced candidate comes with a benefit of focus, concentration and stamina along with the ability to comprehend the concepts. He can cope with the extra efforts required to save 12 months.  

 4) Relevance of Classmates : 

1 year MBA program attracts more experienced candidates who can easily relate to each other in class, giving them an opportunity to grow the network. On the contrary, the freshers with no experience find it hard to connect themselves to the rest of the class. 

With increasing popularity of 1 year MBA program in India, most of the major institutes including IIMs, ISB, XLRI, SP Jain and other B-Schools, are offering 1 year MBA with new programs and specializations as well. 

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India Among Top 5 MBA Destination

Among Top 5 Destinations for MBA in the world, India has made its place, says the findings of the Graduate Management Admission Council's mba.com Prospective Students Survey. In India to pursue graduate management education globally, foreign universities top the preference list and US remains the most sought-after destination.

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The survey explored the motivations, behaviours, programme choices, and intended career outcomes shared by nearly 12,000 individuals across 30 countries who registered on mba.com from October 2013 through September 2014 - prospective students can be segmented into three groups based on career goals: career enhancers (34% of survey respondents), career switchers (38%) and aspiring entrepreneurs (28%). Around 28% of survey respondents indicated they plan to start their own businesses, compared with 19% five years ago. 

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Respondents in Africa (45%), Latin America (44%) and Central and South Asia including India (43%) led this segment. 

Contrary to popular belief, when students listed their top five consideration criteria for selecting a programme and study destination, rankings didn't count. More than half the prospective students (52%) sought to study outside their country of citizenship, up from 40% in 2010. 

This growing preference for international study is most notable among citizens of Asia-Pacific (94% in 2014, up from 88% in 2010) and the Middle East (72% in 2014 vs 58% in 2010). 

The top 10 preferred study destinations are the US, UK, Canada, France, India, Hong Kong, Germany, Singapore, the Netherlands and Australia. While 53% Indians preferred studying in the US, 21% and 7% showed inclination towards India and the UK, respectively The US remains the top international study destination for two-thirds of prospective students across the globe; however, this is a decrease from 73% in 2010. 

Among the other top locations, 6% wanted to study in the UK, 5% in Canada, 3% each in France and India, 2% each in Hong Kong, Germany, Singapore, the Netherlands and 1% in Australia. 

Between 2010 and 2014, the locations that experienced the greatest increase in interest by prospective students were Hong Kong (+2.4% points), Canada (+1.0% points), Germany (+1.0% points), the Netherlands (+0.7% points), France (+0.7% points), the UK (+0.6% points) and Australia (+0.6% points). 

Gauging the interest of prospective students across more than 25 MBA and specialised business master's program options, 26% of today's candidates are considering both degree types. 

MBA programs are exclusively considered by half (52%), globally. Among these students, the programmes as per their preference are: full-time two-year MBA (32%), full-time one-year MBA (27%), part-time MBA (15%), flexible MBA (7%), online MBA (6%), executive MBA (6%) and joint degree programme with MBA (3%). 

Specialised business master's programmes are exclusively considered by 22% of prospective students, globally.
Source:ET

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