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Accelerated MBA Programs: Pros, Cons and Tuition

Have you ever wondered if you could get your MBA in less time? We live in a fast-paced world. There are a lot of obligations. Choosing to pursue an MBA will demand you to devote a significant amount of time to your already hectic career and personal lives. Many schools have begun to offer the option of an accelerated MBA degree program to appeal to and cater to a growing number of students who want to finish their degree in a short amount of time. What exactly does that imply? Is it the most appropriate degree for you? An overview of the accelerated MBA is provided below to assist you in evaluating whether it is the best option for reaching your long-term objectives.

The Accelerated MBA has a number of benefits.

When compared to a standard MBA, the accelerated MBA has numerous advantages. Here are a few of the most compelling reasons to pursue an expedited MBA.

A short period of time

An MBA student’s median age is 29, which indicates that the majority of them have already started their jobs and are working their way up the corporate ladder. In addition, at this age, the majority of people are still paying off school loans. Many people’s career ambitions and realities are incompatible with the thought of staying out of the workforce for two years or longer. By completing your studies quickly with an accelerated MBA, you may avoid this dilemma and advance your career.

Affordability

An accelerated MBA is not just shorter than a standard MBA, but it is also less expensive. Instead of paying two years’ worth of tuition, which can easily exceed $100,000, you can choose for an expedited program that only costs one year’s tuition. This option will save you thousands of dollars and many students will find it to be a sensible investment in avoiding large student loans.

Quality

Most pupils believe that the faster the option, the less they will learn. You don’t have to sacrifice quality just because you’ve chosen the expedited alternative. Many accelerated MBA programs emphasize excellence and opportunities over the course of the program. You can still have a difficult and fulfilling experience while enrolled in an authorized program.

Learn Unique Skill set

Finally, some accelerated MBA programs allow students to specialize in a particular industry, such as marketing, management, or sustainability. Students will develop a specialized skill set if they spend a shorter, more concentrated amount of time focusing on one subject. This entire experience is geared around increasing their possibilities and moving them forward in their careers.

The Disadvantages of an Accelerated MBA

When deciding whether an accelerated MBA is the appropriate option for them, individuals must weigh all of the benefits and drawbacks. An expedited MBA program has two significant drawbacks. Let’s have a look at what we’ve got.

There is no opportunity for a summer internship.

Students forego internships and work placements throughout the summer months due to the compressed time frame. Summer job experience is a great way to start a career and build a firm foundation in a field of interest. If you are unwilling to give up your summer internship, an accelerated program may not be the ideal option for you.

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There are fewer elite school degree alternatives.

An increasing number of prominent universities in the United States are offering an accelerated MBA program. However, it is not as popular as the two-year full-time MBA, part-time MBA, or online MBA programs. There are a restricted number of premier colleges that offer accelerated MBA programs.

Overall, let’s say you want to cut your debt, reduce your time out of the workforce, and yet get a good education. In that instance, the expedited option is a clear winner. Just be sure that the program you choose is accredited and matches your educational and employment goals.

Prerequisites and Requirements for an Accelerated MBA

Note that for each of the accelerated master of business administration programs available, the institutions and programs involved have different criteria and entry prerequisites. Thus, before applying to any MBA programs,make sure you’ve gone through all the requirements.

Your GPA, past education, and when you submit your application are the most basic qualifications and conditions you may expect to need to meet. A GPA of 3.0 or above is required for most MBA programs, however expedited programs often require a 3.2 or higher.

Before enrolling in an accelerated MBA program, you will almost certainly need to have finished a degree or certificate program in a business-related subject. Finally, you must submit your application well in advance of the program’s start date, and the program will almost certainly have a deadline.

What Can I Expect from a Fast-Track MBA Program?

Business fundamentals such as accounting, finance, and marketing are covered in a one-year online MBA program. In order to build a holistic awareness of the business landscape, students also study strategic management and organizational behavior.

Although elective classes may allow students to specialize their MBA, many one-year online MBA programs do not offer this option. Due to the nature of accelerated degrees, thesis requirements are rarely included in online MBA programs. Instead, at the end of the program, students participate in final projects or comprehensive exams.

Classes for accelerated online MBAs typically take 4-8 weeks. Students can participate in daily online class sessions and work on their homework at their leisure. Due to the compressed timetable of an MBA degree, assignments, evaluations, and projects must be completed on time.

What Is the Difference Between an EMBA and an accelerated MBA?

An expedited MBA focuses on business fundamentals and typically involves full-time attendance. While some one-year online MBA programs allow students to keep their jobs while pursuing their degrees, most executive MBA (EMBA) students stay in the workforce while pursuing their degrees.

An EMBA provides students with knowledge and abilities that they may apply right away in their jobs as they progress toward or in management and leadership positions. EMBA classes are available online, in the evenings, and on weekends.

Is it True that Accelerated MBAs aren’t as prestigious as traditional MBAs?

MBAs get notoriety as a result of their academic programs and subsequent effectiveness in the workforce. While an accelerated MBA needs less time in the classroom, it has advantages over standard MBA programs.

A regular MBA offers the same coursework, skills, and degree as an accelerated MBA. One-year MBAs are offered by top-tier business schools, demonstrating their credibility in the corporate world. Students should think about which accelerated MBA program best suits their personal and professional objectives.

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An Accelerated MBA’s Financial Requirements

Full-time enrollment is common in accelerated MBA programs. This limits students’ capacity to work, potentially restricting their ability to pay for their education. An expedited MBA may not be the best option for learners who cannot stay out of the workforce for so long.

While regular and executive MBA programs last two years or longer, with the possibility of unanticipated additional expenditures along the way, most accelerated MBA programs allow students to know the program cost before they begin. Accelerated MBAs with flat-rate tuition and fees may be more economical for students than standard or executive MBA programs.

List of Accelerated MBA programs in the US

Accelerated MBA Programs

One-Year MBA Program at Kellogg

The Kellogg 1-year MBA, which runs from June to June, is one of the most well regarded accelerated MBA programs available in the United States. The curriculum begins in the summer to allow candidates to become accustomed to the tough academics before beginning the second year of the two-year full-time MBA program in September. The Kellogg 1-year MBA program allows you to skip core classes and study graduate electives tailored to your career goals thanks to its pre-enrollment course requirements. Students can customize their MBA experience by selecting from over 200 electives.

Cornell University’s One-Year MBA Program

Cornell’s one-year MBA program begins with a 10-week crash course in business foundations in the summer semester, and includes leadership training and a case competition. Johnson’s core is completed in integrated teams with students from the Cornell Tech MBA program by students in the Cornell 1-year MBA program. Financial accounting, critical thinking, strategy, and data analytics are all part of the core curriculum. Applicants to Cornell’s 1-year accelerated MBA program must have a professional certification or an advanced degree. By May 2020, applicants must have obtained their advanced degree or certification.

Duke University’s Fuqua School of Business

Duke Fuqua is one of the newest business schools in the United States to offer a one-year accelerated MBA program. With 395 students in the class of 2021, it has one of the biggest class sizes of any US business school. The Duke Fuqua accelerated MBA program requires the following degrees as a prerequisite:

Master of Management Studies (MMS) from Duke’s Fuqua School of Business Master’s in Management Degree or equivalent from an approved business school Master’s in Management Degree or similar from an accredited business school

An authorized graduate business school offers a one-year Master of Business Administration degree.

The Duke Fuqua accelerated MBA calendar is divided into five major terms, beginning with a four-week summer term in which students must take courses in entrepreneurship, leadership, and business transformation through technology. The Fall and Spring semesters are separated into two equal 6-week halves in the Fall and Spring semesters. In addition to the obligatory management communication courses, students can choose up to three elective courses in each half of the fall semester. Students can specialize in up to 13 disciplines, including strategy, marketing, FinTech, and finance.

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1-year MBA program at Notre Dame (Mendoza)

The Notre Dame (Mendoza) accelerated MBA program, like the other 1-year MBA schools featured in this page, is designed for students who already have a business undergraduate background. Students enrolled in Notre Dame’s accelerated MBA programs have an average of five years of professional experience. Students begin the program with a 9-week intense summer term before continuing on to the second year of the 2-year MBA program.

The program covers topics such as business analytics, marketing management, and financial accounting, with the goal of developing the abilities needed to handle difficult challenges with integrity and using team-based best practices.

I-BEAR MBA Program at USC Marshall

The I-BEAR program, described by USC Marshall as a 1-year international MBA for mid-career professionals, is a standout among the various programs we’ve looked at in this post.

In the I-BEAR MBA program, students have an average of 11-12 years of work experience and are 34-36 years old. The I-Bear MBA classroom is dominated by candidates with science and engineering backgrounds (41%). Candidates with a background in consumer packaged goods (CPG) are preferred. Industry experience accounts for 36% of all pre-MBA job opportunities.

Candidates will be given an immersive and experiential learning framework in which to gain knowledge, tools, and business networks. As a result, the I-BEAR MBA program includes global business consulting projects (referred to as IBCP) as an important component of the MBA experience. Hundreds of projects have been completed by program participants in various parts of the world to date. As a result, we’ve amassed a wealth of expertise as well as a vast network of contacts in almost every country that helps us provide great results for both participants and sponsors.

Online MBA Degrees Accreditation

Job competition for MBA positions can be fierce. It’s vital to have a degree from an accredited school to set yourself apart from other candidates.

The importance of regional accreditation cannot be overstated. One of the country’s regional accrediting agencies must approve your college. Transferring your credits to another institution may be more successful, and your degree will be more prestigious.

It’s also a good idea to check for AACSB International-accredited programs. This organization confers programmatic accreditation on business schools that meet their stringent academic requirements. You may be confident that you’ll receive a top-notch MBA from an AACSB-accredited institution.

What Are the Best Online MBA Programs?

If you want to enroll in an online MBA program, seek one that is accredited by the AACSB. This indicates that you’ve chosen a graduate program that meets or exceeds industry standards.

Apart from that, deciding on the finest institution for MBA classes may come down to personal goals and preferences.

For example, if you want to get an MBA quickly so you may advance in your HR position, seek for a university that gives credit for prior work experience, has an accelerated course schedule, and has a human resources concentration.

Another option is to enroll in an online MBA program based on the GMAT. Some universities still demand GRE or GMAT scores, while others do not, or provide waivers to qualifying students.