Due to its ability to fill the gap created by a liberal arts education system that places an emphasis on a wide range of courses, top academics forecast that the two-year MBA will remain popular for at least the next ten years.
Although it is claimed that change is the only constant in life, there have recently been questions about the value of two-year management degrees for both students and employers, particularly in industrialised countries. The two-year MBA programme in the US, according to Varun Nagaraj, Dean of the S. P. Jain Institute of Management and Research, is experiencing severe financial hardship.
Beyond a certain ranking, the value proposition of universities outside the elite league, like Harvard through Carnegie Mellon, is not as strong, which puts pressure on enrolment. This, according to Nagaraj, explains why specialist one-year masters studies are currently so well-liked.
The new revenue generator for all US business schools, according to one source, is the range of one-year programmes in data analytics, business intelligence, or supply chain. In Europe, where there aren’t many one-year MBA programmes in general management, this is already the case, according to Rishikesha T. Krishnan, director of IIM Bangalore (IIMB). He asserts that they are aware of the limitations of a year’s worth of work.
However, India is unique. Because there isn’t a comprehensive liberal arts curriculum in place, Nagaraj contends that the two-year MBA degree serves more as a “mind-expanding finishing school” in this scenario.Here, MBA curricula must operate almost like a high school or college’s fourth and fifth years. We should tackle it differently here since what happens before the MBA in India differs greatly from what it does in the US. The two-year MBA’s popularity in India among fresh graduates seeking a path to lucrative professions further supports this degree program’s cause. For instance, the two-year programmes had more applications for the XAT 2023 admission test than the one-year ones, according to Fr. S. George, SJ, director of XLRI Jamshedpur.
India, however, stands out. Because there isn’t a comprehensive liberal arts curriculum in place, Nagaraj argues that the two-year MBA programme serves more as a “mind-expanding finishing school” in this scenario.In this situation, MBA programmes must operate much like the fourth and fifth years of high school or college. We should approach it differently here because the prerequisites for the MBA in India differ greatly from those in the US. The popularity of the two-year MBA among fresh graduates as a means of obtaining well-paying jobs also aids the two-year MBA’s cause in India. For instance, more people applied to the two-year programmes than the one-year ones for the XAT 2023 admission exam, according to Fr. S. George, SJ, director of XLRI Jamshedpur.
The two-year degrees will remain at least for the next ten years, according to the top MBA institutions in India. However, the potential cost of taking a two-year hiatus from employment in a corporate environment that is continually changing is increasing interest in one-year degrees among professionals with work experience. Fr. George claims that experienced professionals are driving India’s expanding interest in one-year MBA programmes. the Indian School of Business, for example
The one-year model was started in response to the need from the business sector for specialised business education combined with real-world experience, including by (ISB), IIMs AB-C, XLRI, and SPJIMR, among others.
According to ISB, the organisation that created the one-year degree in India, work experience is essential for MBAs. “Higher learning outcomes result from students’ ability to connect what they learn in the classroom to what they have already experienced. According to Ramabhadran Thirumalai, Deputy Dean of Academic Programmes at the ISB, because of this relatability, they learn more from the lectures and comprehend the context better. It should come as no surprise that experts think the one-year plan will become more popular in the future. Over time, “I won’t be surprised if things shift more and more to a one-year programme, particularly for people with experience,” adds Krishnan of the IIMB.
Client expectations in the consulting industry are shifting, says Priya Ramdev, Director of the People Function at McKinsey & Company, and this is reflected in the hiring profiles. “While expertise in a particular industry or functional area and prior experience are valued more and more in some professions, generalist consulting ability remains essential to meeting client needs. Any training that can meet these demands will continue to be useful for the industry.