The preference for pursuing 2-year MBA has been so strong among students that after offering 1-year MBA for 7 years, Great Lakes Institute of Management, Chennai has now introduced a conventional 2-year MBA program with its new batch commencing from 2012.
One of the main reasons why the institute commenced this 2-year program was that most of the fresh graduates in India who take CAT still prefer to continue studying rather than working immediately after one year. One-year MBA program is mostly a hit with working executives who want to pursue a fast-paced program. As a result, Great Lakes, Chennai also decided to offer the traditional 2-year AICTE approved MBA program for which no work experience is required and anyone with a UG degree can join. The big debate between one-year MBA and two-year MBA has been going on for quite some time. The question which is still haunting several B-schools and industry experts is that which program is better? Here is a small note on the advantages of both 2 -year and 1-year MBA program:-
1-year MBA : With one of the premier B-schools in India offering 1-year MBA program, now joining the herd of conventional MBA programs raises a big question on the actual need for a 1-year program in India.
2-year MBA : One should pursue a 2-year MBA program if one is not very clear about the post MBA plans since it gives one enough time to decide the right career path. In the first year one learns about the different job areas and by second year he becomes quite confident about the career path he has to decide. In addition, if one wants a little relaxed study environment and is interested in pursuing an extensive course module, 2-year MBA is the right choice. Students interested in more exposure and developing their overall personality and adding tools to their skill set should choose 2-year MBA program.
In general, students who are quite clear about their post MBA goals should join 1-year MBA program since one just needs to lean additional management tools to excel in the field that they have already chosen. Working professionals interested in returning to their existing job industry can also pursue this program. In addition, students who do not want to spend a lot and then worry about EMIs by pursuing a 2-year MBA program can join this one year program.
What do you think : Is 1-year MBA program actually an answer to the demand of the students or is it just one more contrive of the Indian B-schools to make more money?