How Fast Can You Earn an MBA?
The process of earning an MBA is an exciting and often transformational time in someone’s life—and for some people, the faster you can get through it, the better.
The benefits of earning an MBA, such as increased post-graduate salary, career advancement potentials, and development of a strong business network, remain true regardless of how long it takes to complete your degree program. Completing your degree quickly just means reaping the benefits faster, while limiting the amount of time without an income.
MBA graduates are a diverse group—not only are they rising business leaders, but they are also parents, community organizers, and working professionals. With so many different types of MBA programs available, such as Online or Accelerated MBAs, students can choose the best program for their busy life and time constraints.
The average time it takes to complete your MBA can vary depending on the school, program, and type of degree. Below, we’ve rounded up the most important information regarding the average program length and schedule for a variety of MBA programs throughout and beyond the United States.
How Fast You Can Earn a Full-Time MBA?
With so many options to truncate the amount of time it takes to complete an MBA, it may seem strange that someone would still choose to pursue a full-time degree. Nevertheless, there are still numerous benefits to pursuing your MBA full time. Among these benefits is the increased opportunity for full-time students to get fully involved in the goings on of their university and business school. From student organizations to case competitions to hands-on experiences, full-time students have committed their full schedule to their business education and most certainly reap the benefits when it comes to skills and network development. Furthermore, taking time off of work to pursue your degree full-time leaves you open for more opportunities- such as traveling for study abroad, business plan competitions or corporate visits- that likely wouldn’t be possible for someone working while they’re in school.
The average full-time MBA degree today typically require around 30-60 credit hours, with variation depending on the program. With the typical course load asking students to take three courses (nine credits) per semester, the average full-time MBA can be expected to be completed in two full years. Most full-time programs begin in August or September and take four semesters for students to complete their required work, earning their degree by May or June of the second year.
Since the number of credits required by a particular program can vary, some full-time MBAs may be able to be completed faster than two years. Whereas programs like the full-time MBA at NYU’s Stern School of Business takes two years and requires 60 credits, a program like the full-time MBA at McMaster University’s DeGroote School of Business can be completed in as few as 16 months.
How Fast You Can Earn a Part-Time MBA?
A part-time MBA is the perfect option for someone who doesn’t want to put their career on hold while they earn a degree. With a flexible and often self-paced schedule, students are able to complete their degree in a time frame that works best for them, with classes typically offered at night or on the weekends.
While the benefits of a flexible schedule are enormous, one downside is that taking less courses each semester will ultimately extend the amount of time it takes to complete your degree. Typically, students pursuing their MBA part-time will earn their degree in three years, but this can vary significantly—not just depending on the program, but the person! For example, the top part-time MBA program at Northwestern University’s Kellogg School of Management can take anywhere from 1.25 to five years to complete.
What About an Accelerated MBA?
It’s right there in the name—the Accelerated MBA is all about earning a quality business education quickly and jumping right back into work. Most accelerated MBA programs can be completed in just twelve months if pursued full-time, or twenty-four months on a part-time schedule.
Of course, completing a degree in this length of time takes an impressive commitment. Unlike other programs that have winter and summer breaks between the semesters, many Accelerated MBA programs have shortened vacation periods and will require students to continue working throughout the summer.
Not every school offers a One Year or Accelerated MBA options, but those that do take these programs seriously and ensure that the same quality education received in a full-time degree program can be provided to students in just one year. Programs like the One Year MBA at Emory University’s Goizueta Business School boast impressive statistics, such as a 5:1 student to faculty ratio and a 93 percent success rate for graduates receiving employment within three months of completing their degree.
Is An Online MBA a Faster Option?
The world of Online MBAs is a diverse one with a wide array of options to choose from. Really, the only commonality between all online programs is where the classes take place—online! These programs provide for maximum flexibility where students can pursue their education from the comfort of their own homes—or wherever the world may take them.
Online MBAs come in all shapes and sizes, but typically require an average of around 30 credit hours. Depending on the university schedule, this can take up to two years to complete. At Temple University’s Fox School of Business, for example, the Online MBA program can be completed in 20 months, and includes a one week long opening residency. Some schools may also offer their part-time or Accelerated MBA programs in an online format. At the Kogod School of Business at American University, their AACSB-accredited online MBA involves 48 total credits but can be completed in just one year.
What About an Executive MBA?
The Executive MBA is a program designed for professionals with several years of work experience under the belt, who are looking for an MBA education to enrich their professional experience and open new career opportunities. Since this degree is targeted towards working professionals, it is typically structured so that students can keep working full-time, taking classes in the evenings and weekends.
On average, Executive MBA programs will take up to two years to complete, though this is typically a very part-time schedule. One of the top ranked EMBA programs in the country is the Executive MBA at Fordham University Gabelli School of Business, which can be completed in 22 months by attending class for one three-day weekend per month.
From your first day of classes to graduation, a world-class business education is typically no more than two years away. However, the flexibility of many programs put the power in the student’s hands: important factors like your schedule, finances, and the impact of taking time off of work should all factor into your decision about what type of MBA to pursue.
Gear Up For These January MBA Deadlines
The next round of MBA admissions is swiftly approaching, with the eve of 2018 almost here. Time to mark those calendars!
New York City
The NYU Stern School of Business, Columbia Business School, and Rutgers Business School, Newark/New Brunswick are the big headliners when it comes to deadlines in the New York City metro in January.
The Forham University Gabelli School of Business, and the Syracuse University Whitman School of Management Online MBA program also have deadlines in the first weeks of the new year. Click here for more information on upcoming New York City metro deadlines.
The third round for application deadlines to Cornell’s Tech MBA on its new Roosevelt Island campus arrives January 10, 2018.
Los Angeles
The biggest Los Angeles metro business school institutions all have a slew of deadlines ready to pass within the first weeks of the new year, including the UCLA Anderson School of Management‘s full-time MBA, USC Marshall‘s part-time program, as well as the Claremont University Peter F. Drucker and Masatoshi Ito Graduate School of Management‘s part-time MBA.
Take a look at the coming deadlines in the Los Angeles metro here.
Toronto
Two Toronto metro schools have deadlines in early January, with the Ivey Business School full-time, Accelerated, and EMBA deadlines all falling on January 8, 2018. The second round deadline to the University of Toronto Rotman School of Management‘s full-time MBA also falls on January 8.
Take a look at the coming deadlines in the Toronto metro here.
Chicago
Two of the most prominent business schools in the entire Chicago metro—Chicago Booth and Northwestern Kellogg—feature a bevy of full-time, part-time, and Evening MBA deadlines before January 10. As well, the Quinlan School of Business at Loyola University’s full-time MBA for its annual spring intake arrives on January 15, 2018.
Just outside of the city, on the near border of Indiana, the Notre Dame Mendoza College of Business’ second round deadline for its full-time MBA program is set for January 9.
Get familiar with the coming deadlines in the Chicago metro here.
The second round of deadlines for the Northwestern Kellogg part-time and full-time MBA programs arrives on Jan. 10, 2018.
Boston
In Boston, the heart of America’s higher education, every January is a major month for several of the country’s most prominent MBA programs. Indeed, Harvard Business School and MIT Sloan, as well as the Questrom School of Business at Boston University, the Carroll School of Management at Boston College, and Northeastern University’s D’Amore-McKim School of Business all have MBA deadlines right at the beginning of the new year for various MBA programs.
Take a look at the coming deadlines in the Boston metro here.
For updated deadline information in Philadelphia, Washington DC, Baltimore, Atlanta, Dallas, Houston, Denver, San Francisco, San Diego, Seattle, and London, click here.
The Not-So-Secret Way To Land a Job at EY-Parthenon
After the hard work and sweat of earning an MBA degree, you’ve probably thrown yourself into searching for the perfect job to match your new found expertise. Luckily, some of the world’s top companies are also looking for you.
Companies like EY-Parthenon are always looking to recruit top MBA talent seeking careers in strategy consulting. A division of Boston-based EY (formerly Ernst & Young), one of the world’s top professional services firms, EY-Parthenon is a strategy consultancy which aims to combine innovative thinking with clients’ smarts to create actionable strategies that can cause a real impact in today’s business world.
MBAs Love EY-Parthenon
For MBA graduates looking for a career in strategy consulting, there are few places that can provide the unique combination of diverse clients and rewarding entrepreneurial work that EY-Parthenon offers. Comments from Parthenon’s MBA-holding consultants on why they love their job range from the incredible relationships they get to build with clients to the competitive benefits package they receive (including a night at the EY suite at Yankee Stadium).
“There is certainly an attitude in the New York office that we work hard but ensure that we find that balance necessary to enjoy the great benefits of working with wonderful colleagues in the best city in the world,” commented a graduate of NYU’s Stern School of Business and current Senior Consultant at EY-Parthenon.
For Adam, a graduate of the University of Chicago Booth School of Business and current Vice President at the Shanghai office of EY-Parthenon, working at the company has given him the opportunity to use his industry specific expertise to benefit a diverse set of clients.
“[A]t any given time, I may be leading a two-week diligence for a private equity client while also working on an eight-week corporate strategy engagement,” he says. “Having such a variety of engagements while still being able to be focused on very strategic work within a single sector practice is what I think sets EY-Parthenon apart.”
Life at EY Parthenon
As a consultant at EY-Parthenon, MBAs will play a critical leadership role in the company. Serving as the primary contact for clients, MBA graduates will have the chance to get their hands dirty right away, developing and executing work plans for a diverse client set. Consultants will use their knowledge of teamwork, leadership, analytics and communications to excel in the role.
The consultant career track at EY-Parthenon consists of various phases, beginning with work stream leadership—a focus on gaining the crucial analytical skills needed to best help clients—and ending with client management, the final stage before moving into a role as a partner or managing director. EY-Parthenon accelerates individuals through their careers and have no official timetable for new consultants outside of their own ambition and ability to take on responsibilities.
According to anonymous profiles on Glassdoor, consultants at EY-Parthenon make an average of $173,814 annually.
Landing The Job
Anyone can apply for a consultant role at EY-Parthenon, but the company also actively recruits at a number of undergraduate and graduate business schools. The MBA programs the company recruits from are spread throughout the world, and include some of the United States’ top programs, such as Harvard Business School, Kellogg School of Management, and the Stanford Graduate School of Business. The company also heavily recruits at international schools like INSEAD and the London Business School.
MBA students in their second year may apply directly for a full-time consultant role with the company, and first year students are eligible to apply for the summer consultant position. Any student attending a school that EY-Parthenon directly recruits from should check for the specific instructions on how to apply to these roles, typically through their university’s career services. The interview process for these schools typically takes place over two rounds, with the first round taking place on campus and second round interviews at the one of the various global Parthenon offices.
For more information on the company and job opportunities for current MBA students and graduates, check out the official EY-Parthenon MBA job page.
Alumni Spotlight: Daryl Morey and Swapping Intuition for Analytics
In 2006, when Houston Rockets owner Les Alexander announced that MIT Sloan School of Management MBA, analytics expert, and relative NBA unknown Daryl Morey would eventually serve as general manager of the team, the basketball community was surprised, to say the least. A Hoopsworld headline, at the time, read, “Daryl Morey? Are You Serious?”
Though using quantifiable data to make business and strategic decisions across the majority of professional sports has become the norm, in 2006, it was far from standard practice, especially in the world of basketball. At the time, Michael Lewis’s book, Moneyball, was just three years old, and it only highlighted the use of analytics in baseball; perhaps the most straightforward team sport to quantify.
Now, 11 years into his career as a general manager, Morey’s use of analytics to guide NBA decisions ranging from draft picks, to whether a player should go for a three-point shot or a mid-range jumper (hint: take the three point shot) has made him a sports statistics pioneer.
Early Life and Career
While growing up in Medina, Ohio, Morey developed a love of sports. But, according to a profile in Slate, after reading articles written by alleged authorities making predictions for sports teams’ successes that proved way off base, Morey began to question the effectiveness of these experts. Shortly after this realization, Morey happened upon a book by the original sports statistics advocate, Bill James, author of the seminal 1977 book The Bill James Baseball Abstract. James’s data-based philosophy immediately resonated with Morey as the way to mold winning sports teams.
Though he knew early on that he wanted to devote his life to sports, Morey was uncertain of how to gain access to the exclusive business side of the industry. During his time at Northwestern University, Morey sent scads of letters to pro teams, begging for a shot at even the most low-ranking jobs. Each of these letters went unanswered. “So I decided at that point that I had to be rich. If I was rich I could just buy a team and run it,” Morey said.
It was this line of thinking that led the young midwesterner to apply to MIT’s Sloan School of Management. After earning his MBA from MIT in 2000, Morey pursued a career in consulting. Eventually this led to a job working for the Boston Celtics. It was during this time that Morey began applying a statistical model he had developed to size up amateur players to the actual draft. Just a couple of years later, Morey was approached about a managing position for the Houston Rockets, where he has now served as general manager for eleven seasons and has just signed on for an additional four years.
Philosophy and Contributions
At just 21-years old, Morey adapted Bill James’s Pythagorean Expectation, a formula used to predict how many games a team would win, to basketball. “I would have never guessed that you could adapt the Pythagorean to basketball,” James said.
In basketball, Morey is partially credited with normalizing the use of analytics in player acquisitions, as well as approach to the actual game. Under his leadership, the Rockets acquired franchise cornerstone James Harden in what is, in hindsight, already considered one of the more lopsided trades in basketball history. Morey was also instrumental in starting the annual MIT Sloan Sports Analytics Conference, a forum wherein students and professionals can exchange views on the role of analytics in the sports industry.
When asked about his thought processes in Northwestern Magazine, Morey said, “You don’t fool yourself, you take a lot of chances, you cut your losses quickly. That’s all you can do.”
Like the slow-crawl of acceptance sabermetrics toiled through in Major League Baseball, Morey’s analytical imprint on the NBA has routinely drawn the ire of some of the game’s most notable figures, including Hall of Famer, “golfer,” and Inside The NBA host Charles Barkley. In 2015, Barkley routinely chided `the Rockets’ paltry defensive efforts, noting Morey’s tactics of bringing in players seemed fairly basic.
Just two years later, however, and the Rockets are currently riding a 10-game win streak and sit atop of the vaunted Western Conference, with Harden earning potential MVP praise and point guard Chris Paul commanding one of the league’s best offenses. And Morey’s analytical emphasis on three point shooting and pick and roll sets, dubbed “Moreyball,” has never been more prominent. The Rockets lead the league—by far—in three-point attempts per contest, launching a blistering 43.2 per game. For context, the team with the second most three-point attempts per game, the Brooklyn Nets, take 33.8 per game—nearly 22 percent less than Houston.
Stats via NBA.com/Washington Post
The Rockets’ analytical trend may seem extreme, but the rest of the league is still taking notice. The average three point attempts taken per game, nearly a quarter of the way into the 2017-18 season, is the highest ever at 28.7 attempts per game per team; and those figures have gone up every year since 2012. If Moreyball remains a staple of the NBA offense, expect that figure to be broken again in 2019.
Other Pursuits
Morey has a love of musicals, and even proposed to his now-wife Ellen before a production of Grease. It makes sense then that the man the New York Times called a “wizard in the field of quantitative analysis,” has chosen to devote his time to producing a musical. The show, “Small Ball,” is slated to debut in 2018.
Chicago’s Best 1-Year MBA Programs
Many of the obstacles to earning an MBA can make the process worrisome for even the most eager student. Factors like cost and salary loss as a student can be prohibitive for many potential MBAs. However, one solution may be shortening the amount of time it takes to earn the degree, which can reduce both the overall cost as well as the time without a full-time salary. Through accelerated or One-Year MBA programs, students can get all the benefits of an MBA degree in half the time.
If you are looking to pursue an MBA in the Chicago metro area, one of the country’s top business and cultural hubs, you may want to opt for a one-year MBA program to keep costs low and get to graduation day even faster. Below, we’ve rounded up the best Chicago One-Year MBA programs.
Kellogg School of Management – Northwestern University
The Kellogg School of Management at Northwestern is one of the top business schools in the country, taking the fourth spot in U.S. News‘ “Best Business School” ranking. The one-year accelerated MBA at Kellogg is the fastest path to earning a degree from this top-ranked school. Beginning in June, this rigorous program gives students an opportunity to immerse themselves in the Northwestern community of business professionals, build leadership experience and learn from some of the world’s top teachers. The accelerated MBA at Kellogg is one of the first One-Year MBA programs in the nation, offering students the chance to bypass core courses and choose from over 200 advanced studies courses.
Mendoza College of Business – Notre Dame University
The Mendoza College of Business at Notre Dame University is consistently rated as one of the top schools in the country, ranking 29th in U.S. News and World Report’s ranking of the “Best Business Schools.” Mendoza’s One-Year MBA offers students a strategic business education in just 12 months.
The benefits of a Notre Dame MBA are numerous, with access to a close knit community of business students and access to Notre Dame’s global alumni network including more than 270 alumni clubs. The one-year program includes 46 credit hours with the chance to also participate in an International Immersion experience. The program begins with a 10-week summer intensive, and then allows students to select from a number of possible concentration tracks, such as business analytics, consulting, corporate finance or marketing.
YOU MIGHT ALSO LIKE: The Highest MBA Salaries in Chicago
Liautaud Graduate School of Business – University of Illinois at Chicago
The Liatuaud Graduate School of Business at the University of Illinois at Chicago, which consistently ranks among the top 25 percent of business schools across the country, offers students the option of earning their MBA in as little as one year through their full-time Accelerated Cohort Program. The accelerated program at Liautaud can be completed entirely on campus through daytime classes, focusing on building a strong peer network, and community of business leaders.
The Liatuaud MBA focuses on the foundations of business and management, offering a 54 credit program composed of 26 credits of core courses. The core curriculum is comprised of: corporate finance, financial accounting, marketing, microeconomics, operations management, enterprise strategy, and organizational behavior.
Northern Illinois University College of Business
The Northern Illinois University College of Business offers a One-Year MBA designed for students to enhance their skills in communication and leadership over the course of 12 months. The program focuses particularly on collaboration, encouraging teamwork by having each year’s cohort begin together and take the same courses together throughout the year. Students will also participate in the One-Year MBA Capstone Project—a live case competition that challenges students to develop a business plan for a real company and with a real business situation.
“The decision to choose NIU’s One-Year MBA program was a very simple one,” said Northern Illinois alum Jennifer Rave. “Not only is it one of the most affordable programs in the area, but the lockstep program that allows you to develop life-long relationships with your professors and peers is just as appealing.”
Wharton, Stanford Top Forbes’ 2017 Business School Ranking
For the first time ever, the Wharton School at the University of Pennsylvania topped the biennial Forbes list of the best business school’s in the United States.
Coming in second place on the Forbes 2017 rankings, revealed earlier today, was the Stanford Graduate School of Business, which was followed by Harvard Business School, Northwestern’s Kellogg School of Management, and Dartmouth’s Tuck School of Business rounding out the top five.
Forbes‘ top 10 U.S. business schools (2017)
Rounding out the top 20 were some familiar MetroMBA favorites, such as Columbia Business School (6th), Chicago Booth (7th), MIT Sloan (8th), UC Berkeley Haas (9th), UCLA Anderson (15th), the McCombs School of Business UT-Austin (17th), and the Mays Business School at Texas A&M (20th).
Just making the final cut on Forbes’ newest list, which includes only 70 schools, was the Fox School of Business at Temple University (60th), Pepperdine’s Graziadio School of Business and Management (65th), Northeastern’s D’Amore-McKim School of Business (66th), the Kogod School of Business at American University (67th), and the Gabelli School of Business at Fordham University.
Method To The Madness
Nearly every major publication that reveals its own respective business school ranking list has its own principle methodology in which it follows. For instance, unlike Forbes, the Financial Times ranking system relies more on alumni survey responses for its final ranking. While Forbes does utilize surveys in its ranking, its primary focus is on how graduates fare on their return on investment.
In the ranking release, Forbes staff writer Kurt Badenhausen notes:
“Our ranking of business schools is based on the return on investment achieved by the class of 2012. We examined more than 100 schools and reached out to 17,500 alumni around the globe. We compared graduates’ earnings in their first five years out of business school to their opportunity cost (two years of forgone compensation, tuition and required fees) to arrive at a five-year MBA gain, which is the basis for the final rank. Schools whose alumni had response rates below 15 percent or a negative return on investment after five years were eliminated.”
In regards to Wharton topping the 2017 list, Badenhausen writes, “These days most Wharton MBA students head to finance or consulting jobs upon graduation (79 percent of the class of 2012), which traditionally are the most lucrative areas for MBAs. The concentration in these sectors pushed Wharton’s current total compensation for the class of 2012 to the highest of any school in the world at $225,000.”
YOU MIGHT ALSO LIKE: The Highest MBA Salaries in Philadelphia
The exceptional cost of living around Stanford and shockingly low admissions rates (6 percent) contributed to the business school falling off its top spot from the prior year. Stanford GSB graduates, however, were given enormously valuable stock options after earning employment, with a median value of $380,000. Despite the astronomical figures, Stanford GSB grads still saw a dip of around $40,000 in total five-year compensation compared to the Class of 2010. Similarly, HBS grads saw a $28,000 five-year drop compared to the Class of 2010. Wharton 2012 grads, in contrast, gained $18,000 compared to two years prior.
In regards to employment, not much has changed since 2012. McKinsey and Co. was the top employer of the Wharton Class of 2012, hiring over 50 of the school’s 800-plus graduates. Alongside McKinsey were Bain, BCG, and Deloitte, which are still the school’s top employers. However, since then, Amazon has overtaken Goldman Sachs in the Wharton recruitment war.
Thomas Jueng, Seoul native and 2012 Wharton grad, tells Forbes, “Wharton was a great springboard to make a transition geographically and job position-wise with a strong brand name and network as well as providing practical knowledge.”
Read the entire Forbes list of the best U.S. business schools here.
