The one-year MBA, often seen as a European degree, is growing in popularity in the US – but only slowly. At the Kellogg school at Northwestern University, applications to the one-year degree have risen by 30 per cent this year, says Betsy Ziegler, associate dean. She hopes to enrol 150 students on the programme within three years.
When Kellogg backed the shorter degree, many thought its adoption would accelerate, says Dennis Hanno, provost at Babson College. “I don’t think the one-year MBA has taken off as fast as people had expected,” he says. But even in a depressed market for MBA applications, the one-year degree at Babson has seen an increase in applications. It is a similar story on the one-year degree at the Goizueta school at Emory University, in Atlanta.
There are advantages and disadvantages to the one-year MBA.
“With the one-year format there
is no opportunity for an internship, so you don’t get to try out a company,” says Prof Hanno. The upside is financial – the opportunity cost of earning a salary. “That one more year out, of not being able to work at $100,00, is huge.”
But there is also the issue of time out of the workplace says Mary Goss, senior director of the Notre Dame MBA at Mendoza. “If you can do it in a year . . . you can get back into the workplace quickly.”
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