Did you know that the MBA degree is the most popular master’s degree? In the 2021-2022 academic year, more than 205,800 MBAs were granted. This represented 23% – ranked #1 – of the total master’s degrees awarded (NCES, 2024).
But earning an MBA can take between two and four years, depending on your enrollment status. The long time frame isn’t suitable for many people. This is where one of the benefits of an accelerated MBA program shines – shorter duration.
Accelerated MBA programs allow candidates to earn an MBA degree in 12-18 months. In contrast, traditional MBA programs have a longer time to completion, usually 2-4 years.
Both accelerated and traditional MBA programs, however, share common goals. Candidates develop their strategic thinking, leadership, and management skills.
However, accelerated MBA programs focus more on core business concepts and have a faster pace. Traditional MBA programs offer more electives and a more relaxed pace.
If you’re interested in learning more about the benefits of an accelerated MBA program, read on.
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What Is an Accelerated MBA Program?
Let’s first start with the basics of accelerated MBA programs in general.
Definition and Structure
The typical accelerated MBA program features an intensive, fast-paced, and rigorous curriculum. Candidates gain a comprehensive business education with an emphasis on core concepts. These include finance, strategy, marketing, leadership, and entrepreneurship. There’s also a strong emphasis on real-world applications.
Candidates take on more courses within a semester and attend classes the entire year (i.e., no breaks). Many accelerated programs also offer experiential learning opportunities.
Typical Duration
Again, an accelerated MBA program has a shorter time to completion. You’ll earn an MBA degree in 12-18 months instead of two years, at least.
But the fast-paced coursework in an accelerated MBA program isn’t for everybody. You must have effective time management, study, and organization skills. Plus, perseverance, drive, and the willingness to seek support are a must.
Online vs. In-Person Accelerated MBA Options
Many accelerated MBA programs are also available in two formats. First, in-person programs offer the traditional in-person classroom experience. Second, online programs offer more flexible scheduling and convenient access.
Both are excellent options for ambitious individuals. Your choice will depend on your learning preference, lifestyle, and schedule.
Faster Entry into the Workforce
This is among the best fast-track MBA advantages because it means getting a head start.
Shorter Duration Means Quicker Return to Professional Life
Being in an accelerated MBA program usually means full-time focus (i.e., part-time or no work). But since you’ll only spend 12-28 months in it, you can get back to work sooner. Your return to professional life isn’t only a mere return – now, you also have a competitive advantage.
Ideal for Working Professionals Looking to Advance Their Careers
Many accelerated MBA programs welcome business and non-business professionals. So, whether you want to advance your business career or pivot to a business career, you can apply.
You’ll find flexible learning options to accommodate your busy schedule, too. Evening and weekend classes are offered, as are online programs.
Competitive Edge in Job Markets Requiring Advanced Business Skills
You’ll have an early advantage for job opportunities after an accelerated MBA. Besides the early advantage, you have a competitive edge, too. This is because an MBA degree signifies advanced business knowledge and skills.
Cost Savings and Lower Tuition Expenses
In an accelerated MBA vs. traditional MBA comparison, cost is at the top of the list. This isn’t surprising, as an MBA degree costs between $100,000 and $200,000 over two years.
Shorter Programs Often Mean Lower Tuition Costs
The cost savings with an accelerated MBA varies depending on many factors, including:
- Program duration (i.e., the shorter it is, the greater the savings)
- Total cost of attendance versus financial aid (i.e., more financial aid, greater savings)
- Format (i.e., online programs tend to be more affordable than in-person programs)
You’ll pay less in tuition and fees with shorter programs. Apply for as much financial aid as you can, too.
Reduced Living Expenses Compared to Two-Year Programs
Indirect costs, including living expenses, comprise 60% of the total cost of attendance. You’ll spend less on housing, transportation, and living expenses.
Financial Benefits of Returning to the Workforce Sooner
With an accelerated MBA, you can return to the workforce sooner and earn a higher income. You can then recoup your costs sooner and enjoy your return on investment faster. This can occur in three years, on average, if you get a significant salary raise.
Intensive Learning and Skill Development
Intensive learning in fast-track MBA programs enables candidates to develop advanced business skills. You’ll develop a strong theoretical foundation while gaining practical skills. You’re ready to tackle real-world business challenges with competence and confidence.
Fast-Paced Curriculum Covering Key Business Topics in a Condensed Time Frame
Core business courses include operations, marketing, finance, and human resource management. However, the fast-paced coursework has its challenges. You must stay focused, exercise critical thinking, and work efficiently.
Emphasis on Real-World Business Applications and Leadership Skills
Strategic thinking, collaborative leadership, and decision-making under pressure. These are among the leadership skills that you must demonstrate. You must also prove that you can apply business theory in real-world situations.
Case Studies, Simulations, and Collaborative Projects for Hands-On Learning
These learning methods are vital to applying business theories in the real world. Case studies enable candidates to develop their decision-making and problem-solving skills. Simulations immerse them in realistic business environments. Collaborative projects develop their leadership and teamwork skills.
Career Advancement and Higher Earning Potential
Nothing’s guaranteed in this world. But if you play your cards right, career growth with an accelerated MBA is yours to take.
How an Accelerated MBA Helps Professionals Move into Leadership Roles
You’ll have a competitive edge for leadership roles because of your:
- Solid knowledge base in leadership, strategic management, and organizational behavior, among others. Your knowledge of advanced business theories comes from intensive courses.
- Hands-on experience in business leadership and management. Your practical skills come from your previous work experiences and MBA experiential learning.
The bottom line: You have the competencies to be a better leader and manager.
Increased Salary Potential with an Advanced Degree
Actual salary increase with an MBA varies. Work experience, location, and industry are among its determining factors. But an MBA can increase your salary by $45,000/year. Note that the average salary for MBA holders is $120,000/year.
Job Market Demand for MBA Graduates in Finance, Marketing, and Consulting
There’s also a high demand for MBA graduates in diverse industries. The finance, marketing, and consulting industries are the top three employers.
Networking and Professional Growth Opportunities
Being a successful MBA professional means maintaining meaningful connections. You can create productive connections during your MBA studies. As a result, your networking and professional growth opportunities expand.
Strong Alumni Networks in Top Accelerated MBA Programs
The best on-campus and online accelerated MBA programs offer this benefit. Being connected to the alumni network means opportunities for:
- Mentorship and coaching
- Job referrals and recommendations
- Business ventures
- Career guidance
Connections with Industry Professionals and Corporate Recruiters
Being in touch with these professionals means getting a direct line to opportunities. Think of access to:
- Career fairs, workshops, and seminars
- Exclusive recruitment events
- Company-sponsored projects
Internship and Career Placement Advantages
The best accelerated MBA programs offer internships and career placement services. You’ll gain hand-on experience and get an edge on jobs.
Flexible Learning Options for Busy Professionals
Earning an MBA degree as a busy professional is possible. However, you must look for flexible learning options to achieve your goal. Accelerated MBA programs offer them, too.
Online and Hybrid Accelerated MBA Programs for Working Students
Online and hybrid programs offer:
- Flexible schedules, thanks to asynchronous courses and self-paced learning
- Convenience since you can log in anytime and anywhere from an Internet-connected device
You can save time and money.
Weekend and Evening Course Structures for Added Flexibility
But if you prefer the in-person learning experience, there are options. Check out weekend and evening courses. This way, you can still work while pursuing an MBA degree.
Self-Paced Options Available in Some Programs
Then, you can choose self-paced learning, too. This option is ideal if you have an unpredictable schedule or you’re an individual learner.
Conclusion
In conclusion, the benefits of an accelerated MBA program are:
- Faster entry into the workforce
- Cost savings and lower tuition expenses
- Intensive learning and skill development
- Career advancement and higher earning potential
- Networking and professional growth opportunities
- Flexible learning options for busy professionals
So, in a one-year MBA vs. two-year MBA comparison, the one-year option is recommended.
Don’t commit to it so fast, either. You must consider your career goals, financial investment, and your learning preference.
When you’re sure about it, your next step must be to research accredited accelerated MBA programs. Then, explore available financial aid options and scholarships. Be sure to review program-specific application requirements and deadlines, too.
