Pros
Opportunity Cost
The single biggest factor in favour of the one-year program has been the opportunity cost of forsaking your current career for far too long when undertaking the two-year program. The argument becomes even more powerful when the economy is performing well - why spend two years away when the going is good!
Fees & Cost of Living
This follows on the previous theme - the longer the program, the greater the actual financial cost associated with it.
Sponsorship
It is easy to convince one's employer about sponsoring him or her on a one-year program rather than on a two-year program. Not only are the costs lower, you are also away for a shorter period of time. Besides, if one isn't looking for a job, then internships don't matter either.
Cons
Limited Choice
The single biggest factor against the one-year program is that there are far fewer top-league schools offering a one-year program, and most of them are concentrated in Europe. Only a handful of schools in the US offer a shorter program than their flagship two-year MBA.
Internships / Career Change
In case one is looking for a career change of any kind, be it industry or location related, chances are that a prospective employer wants to try the candidate out unless he or she has relevant experience. While not always the case, this is often important especially for those wanting to make a directional shift in their careers.
Time Compression Diseconomies
Theorists are likely to use this argument to highlight the biggest disadvantage of compressing the program content into a shorter duration. Just like economies of scale and scope,
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