Traditionally, the one-year MBA has been popular outside of North America, where the two-year MBA remains the default qualification. But this is changing, with many US and Canadian schools now offering one-year options too.
In the interest of flexibility and cost-efficiency, MBA applicants are going after programs that can fast track their success.
The Prospective Students Survey from the Graduate Management Admission Council (GMAC) shows that for the last two years running, one-year global demand has overtaken two-year programs—47% of all MBA candidates now consider a one-year program, up from 39% two years ago.
So if you are considering a one-year MBA, here are five key benefits:
1. It will be more cost-effective
One of the most important benefits is cost-effectiveness. This is notable both in lower tuition fees, but also the overall running costs of the program.
For example, the full-time MBA at Ivey Business School costs $82k (USD) in tuition for international students, or $58k for domestic students. Two-year programs can range from $60k all the way up to $146k at top US schools in total tuition fees.
Alongside the typically cheaper tuition, one-year MBAs are also more affordable in terms of cost-of-living. Living expenses including accommodation, food, and travel add to the overall cost of any program, so halving the time you’re studying can produce a significant saving.
At Ivey, the student campus is based in London, Ontario. Compared with Toronto or Vancouver, living expenses come in cheaper, further adding to affordability. The school also offer a calculator to help estimate return on investment.
2. You’ll be able to quickly restart your career
With a one-year program you can take advantage of moving quickly back into your career. Despite an MBA being a great career booster, taking time out of work to study means a costly pause in earnings. 66% of prospective students express some concern that an MBA will delay attractive job opportunities, according to GMAC research.
The quicker you’re back into work, then, the quicker you’ll start seeing a return on your investment. At Ivey, the average salary for graduates three months after completing the program is $115,000. Moreover, 91% of grads from the latest cohort were employed three months after the MBA, with graduates receiving on average an 85% increase in salary.
For domestic students who want to combine career and study, Ivey also offer an Accelerated MBA, where online learning and weekend classes ensure students can continue their career simultaneously. Similarly, if you're an experienced and busy professional, an Executive MBA allows you to maintain your career whilst studying for a qualification which can enhance your prospects.
It is still possible to make significant changes to your career after a one-year MBA. While the one-year MBA offers career acceleration, many students also see major career changes after the program.
At Ivey, for example, 91% of MBA graduates make at least one major career transition. Whether that’s industry, job function, or geography, one-year MBA students have the opportunity to make big transformations in their careers. This careers focus has helped Ivey remain number one in Canada for both student and recruiter satisfaction, according to Bloomberg Businessweek rankings.
4. You’ll have a rigorous and focused curriculum
Just because one-year programs are more condensed doesn’t mean that you’ll miss out on any key content. You’ll still have the same rigorous introductory courses to sharpen your economic and business skill set, but with a more immediate focus on your career.
The Ivey curriculum uses a case study method to prepare students for the world of work, where they're exposed to around 300 individual cases. Instead of lectures, students use an action-oriented approach that mirrors the challenges of the business environment—putting students in real-world scenarios. It’s a dynamic approach where you’ll be fully immersed for one year, aiming to maximize results over a shorter time frame.
5. You’ll make connections that last much longer than one year
You might think that with less overall time spent with your classmates, the bonds may not be as strong. But this isn’t necessarily the case. With the intensive nature of a one-year program, students quickly form a camaraderie that keeps them close. It may be over quicker, but the connections you make over the year will last a lifetime.
At Ivey, there were 150 students in the most recent cohort. This smaller class size can breed a more intimate atmosphere, where living on campus with your classmates means the development of a cohesive and tight-knit network.
Once graduated, students join an alumni network of 29,000 Ivey grads—providing a wealth of knowledge and opportunity across dozens of countries and industries.
The Faculty of Information Media excels in not only introducing students to crucial angles and aspects of media and communication studies, but also listens carefully to students to teach them about the aspects of culture they interact with regularly, allowing students to apply their learned skills to their preferred field immediately. The University promotes the growth of different communities not only through vast course selection, but through extracurriculars and an active student body as well. The winters are harsh, but it's very easy to be kept busy.
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4/12/2023
On Campus
UWO
Western University in London, Ontario, excels with its exceptional academics, picturesque campus, and strong educational support. The university's blend of beautiful scenery and ample resources fosters a stimulating learning environment. Its diverse opportunities, from research to extracurriculars, prepare students for success in various fields. I recommend Western University for those seeking a comprehensive and enriching educational experience.
Aisha
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6/10/2023
Blended
Western University: Fostering Growth and Diversity
I am currently in my fourth year at Western University, pursuing a unique combination of International Relations and Digital Communications. My time here has been nothing short of transformative, and I'd like to share a brief review of my university experience.
Western University has been a place of remarkable opportunities for me. The campus exudes a vibrant atmosphere that encourages students to get involved, and I've taken full advantage of this. From joining student organizations to participating in events and workshops, there's always something happening on campus that fosters personal growth and community engagement.
What truly sets my university apart is the exceptional International Relations program it offers. As one of only two schools in Canada providing this niche field, Western has allowed me to delve deeply into my passion. The program's hands-on approach, with group projects and simulations, has not only expanded my knowledge but also honed my practical skills, making me feel well-prepared for my future career.
Moreover, Western University's commitment to mental health and well-being is commendable. It's reassuring to be part of a university that prioritizes the mental health of its students, providing the necessary support systems and resources to ensure our well-being throughout our academic journey.
As a black student with ADHD, I've found Western to be exceptionally accommodating and accessible. The university's commitment to diversity and inclusivity is evident, and I've felt welcomed and supported in every aspect of my university life!
Student
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4/05/2023
On Campus
More academic support is needed
It’s a great university with great programs. Everything have worked out the way I expected university to be, but just a little bit more academic support would be great. The information regarding academic support is posted but for some classes, when I find it difficult because there is not sufficient level of support (understaffed)
Aleksandra
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29/04/2023
On Campus
Great
I would definitely recommend UWO. It has a great student experience. Resources are always available to those who need them and their number one priority is students. One thing I dislike is they’re academic consideration system.
Yathu
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29/04/2023
On Campus
Computer science
The computer science program at UWO offers a solid foundation in theoretical and practical aspects of computer science. The faculty is knowledgeable and supportive, and the program emphasizes collaboration and teamwork. Overall, the program prepares students well for a variety of careers in technology. The computer science program at UWO offers a solid foundation in theoretical and practical aspects of computer science. The faculty is knowledgeable and supportive, and the program emphasizes collaboration and teamwork. Overall, the program prepares students well for a variety of careers in technology.
Student
Verified
28/04/2023
On Campus
Life Balance
I have loved my first year at the University of Western Ontario. I am in Kinesiology and I am also on the varsity track and field team. Western has strong academics as well as great sports teams. The student athlete balance Western has provided me has taught me numerous skills that will help me in the future. I would definitely recommend Western to any student athlete looking to compete at the highest level while still getting a great education.
Student
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24/04/2023
On Campus
Western: A Dream Come True
Western University is known for its academic excellence, diverse student body, and vibrant campus life. With a wide range of programs, world-class facilities, and renowned professors, Western provides students with an education that prepares them for success in their chosen fields. The campus is situated in London, Ontario, a city known for its cultural events, outdoor activities, and vibrant downtown. The university also offers a range of extracurricular activities and clubs, allowing students to pursue their passions and make meaningful connections with their peers. With all these features and more, it's no surprise that I love attending Western University.
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24/04/2023
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Personal Recommendation of University of Western
As a current student at University of Western Ontario, I can confidently say that my experience thus far has been nothing short of exceptional. When I was first looking into potential universities to attend, I was drawn to Western because of its reputation for academic excellence, as well as its strong sense of community.
Throughout my time here, I have found that this reputation is well-deserved. The professors are knowledgeable and engaging, and the coursework is challenging but rewarding. Additionally, there are a wide range of extracurricular activities and clubs available to students, which has allowed me to explore my interests and meet new people.
One thing that I appreciate about Western is its commitment to student well-being. There are a variety of resources available to students, including mental health services and academic advising. This has made it easy for me to navigate any challenges that I have encountered during my time here.
In terms of the campus itself, I have found it to be well-maintained and easy to navigate. The facilities are modern and up-to-date, and there are plenty of places to study, socialize, and relax. Additionally, the university is located in a beautiful part of London, Ontario, which has allowed me to explore the city and take advantage of everything it has to offer.
Overall, I would highly recommend University of Western Ontario to anyone looking for a high-quality education in a supportive and vibrant community. The university has exceeded my expectations in every way, and I am grateful for the opportunity to be a part of such a wonderful institution.
Student
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19/02/2024
On Campus
MAC program
Western University is a one of a kind experience in Canada. It has a beautiful campus, and the student life is welcoming and extremely fun. The program i am in is Media and Communications, formerly Media, Information, and Technoculture. This degree provides me with theoretical understandings of media industries, as well as writing and project based learning.
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7/11/2024
On Campus
Great Academic
I have been absolutely loving my time here at Western University because of the welcoming campus life and close knit community. Signature events like Hoco and O-Week were so much fun and truly brought the student body together, creating a sense of unity and school pride. Also, Western is an excellent place to study and grow my academic capabilities as I feel like I'm learning something new everyday. The strong balance between academics and a fun student experience makes Western University an amazing institution to attend.
