Best 1-Year MBA Programs 2023

• One-year MBAs provide accelerated learning opportunities for business professionals.
• Accelerated MBAs may offer cheaper tuition than traditional MBAs.
• One-year MBAs offer different concentrations to accommodate varied professional interests.

Want to earn an MBA without spending 18-24 months in school? If so, an accelerated one-year MBA could be your ticket to a higher salary and increased career opportunities.

If you already hold an undergraduate degree in finance, business, or a related field, you may qualify for one of these fast-tracked master's programs.

You likely have questions before enrolling in a one-year MBA program. Keep reading to know what you can expect and which specializations exist.

What Can I Expect From a One-Year MBA Program?

In a one-year MBA program, you will cover all the main aspects of a traditional business degree. Core curricula include classes in finance, marketing, data analytics, accounting, strategy, leadership, and general management.

Common MBA specializations include:

1. Accounting
2. Data analytics
3. Entrepreneurship
4. Finance
5. Healthcare management
6. Human resource management
7. International business
8. Marketing
9. Organizational leadership
10. Project management
11. Sustainability

If you want to pursue a specific area of business, you can choose from a range of specialties. These are usually available in both two-year and one-year MBA programs.

1. Online MBA in Accounting

If you enjoy working with numbers and helping companies or individuals better manage their finances, an online accounting MBA could provide a great path.

According to the Bureau of Labor Statistics (BLS), accountants and auditors earn a median annual salary of $77,250 in 2021. Common coursework includes accounting for financial decision-making and economic performance evaluations.

2. Online MBA in Data Analytics

Designed to meet 21st-century business needs, an online MBA in data analytics (or data science) provides training in areas such as financial analytics, data visualization for business, and quantitative methods in business.

Data scientists earn a median salary of $100,910 (BLS, May 2021).

3. Online MBA in Entrepreneurship

If you want to start and run your own business, an online MBA in entrepreneurship can provide the tools you need to build a company from the ground up. Coursework includes studies in entrepreneurial finance, new venture strategy, and alternative entrepreneurial paths.

CEOs take home a median wage of $98,980 (BLS, May 2021).

4. Online MBA in Finance

Financial managers bring home a median salary of $131,710, with many of these professionals holding finance MBAs (BLS, May 2021).

Earning an online MBA in finance can help qualify you for managerial positions in finance, such as corporate finance, portfolio management, and financial management.

5. Online MBA in Healthcare Management

Earning an online MBA in healthcare management can help you qualify for high-level positions in hospitals, clinics, and other medical settings. Common coursework includes studies in business leadership and human values, health systems management, and economics for decision-making.

Medical and health services managers earn a median salary of $101,340 (BLS, May 2021).

6. Online MBA in Human Resource Management

Human resources departments play pivotal roles in businesses of all sizes, and earning an online MBA in HR management can help put you on the path to a fulfilling HR career.

Expect to take classes in organizational ethics, personnel staffing and evaluation, and managing organizational change. HR managers earn a median salary of $126,230 (BLS, May 2021).

7. Online MBA in International Business

As the business landscape continues to expand globally, earning an MBA in international business can help qualify you for jobs based in the U.S. and abroad. Common classes include international financial policy, environment of international business, and global supply chain logistics.

Graduates can work in logistics, management, or market research careers. Logistician professionals earn a median pay of $77,030 (BLS, May 2021).

8. Online MBA in Marketing

Every business requires marketing professionals to succeed, making an online MBA in marketing a popular option for business students. Common coursework includes digital marketing, marketing research, and corporate branding.

Marketing managers earn a median annual salary of $135,030 (BLS May 2021).

9. Online MBA in Organizational Leadership

Stepping into a C-level role requires a combination of experience, demonstrated results, and an understanding of how to effectively lead companies.

Earning an online MBA in organizational leadership can help put you on the path toward a top executive role. These professionals earn a median salary of $98,980 (BLS, May 2021).

10. Online MBA in Project Management

If you enjoy taking ideas and bringing them to fruition, an online MBA in project management may align with your professional and career goals.

These programs cover topics such as risk assessment, project tools and strategies, and strategic project management. Project management specialists earn a median salary of $94,500 (BLS, May 2021).

11. Online MBA in Sustainability

As more companies look for ways to improve their environmental sustainability efforts and use renewable sources, the need for MBA in sustainability graduates is on the rise. These innovative programs prepare you for green jobs.

Courses cover topics such as environmental management, climate change law, and managing sustainable operations. Operations managers receive a median salary of $97,970 (BLS, May 2021).

What Are the Admission Requirements for a One-Year MBA Program?

One-year MBA program admission requirements are generally similar to traditional MBA program requirements. However, because one-year MBA programs are accelerated, they may require you to have a bachelor's degree in business or to complete prerequisite courses.

Graduate admissions vary by program. Many MBA programs require you to submit GRE or GMAT test scores. Specific concentrations may have additional prerequisites. For example, finance concentrations may require additional courses in finance.

Application

Nearly all MBA programs will require you to submit an application form. These forms ask for basic personal information like name and address, as well as the highest degree obtained.

Many MBA applications ask you for additional information such as references, test scores, a resume, or recommendations.

Test Scores

MBA programs usually require test scores. MBA applicants will often be asked for either GRE scores or GMAT test scores. The average GRE score in 2021-2022 was 151 for verbal reasoning, 157 for quantitative reasoning, and 3.4 for analytical writing.

Resume

Most graduate programs for business also require a professional resume. Resumes and cover letters highlight your professional qualifications and relevant experience.

These resumes and cover letters are a way for you to highlight your strengths. Since many one-year MBA applicants have been out of school for some time, the resume can hold additional weight.

Letters of Recommendation

A strong letter of recommendation from a colleague, supervisor, or professor can help you stand out. When asking for a letter of recommendation, be sure to allow your recommender plenty of time to write.

You should provide the letter writer with all the information they may need. It can be useful for you to share your resume to provide the letter writer with additional insight into your experience.

Essays

Colleges look to graduate school application essays to gain insight into your motivations and your potential for success in a program. Programs may ask for a personal statement, statement of purpose, or a letter of intent.

While all three are similar, you can tailor your essays to the college's specific request to increase the chances of a successful application.

Official Transcripts

Most graduate programs will require official transcripts. Some MBA programs accept transfer credits from other business graduate programs. One-year MBA programs may also offer credit for prerequisite coursework or work experience.

However, as MBA programs are highly structured, many top one-year and two-year programs do not accept transfer credits.

How Do I Choose a One-Year MBA Program?

Before enrolling in a one-year MBA program, you should consider several important factors. We look into each below.

Cost

Online program tuition for MBAs is usually comparable to on-campus programs. In-state tuition at public colleges may be less than out-of-state tuition. You should keep in mind that true program costs will be higher due to other costs like books and fees.

One-year MBA programs often cost less than traditional two-year MBA programs. For example, at Northwestern's Kellogg school of business, 2021-22 tuition for the one-year MBA was $105,380, while total tuition for the two-year MBA was $152,740.

Program Format

Program format is another important factor to consider. Some MBA programs are asynchronous, although most are synchronous. One-year MBAs are notoriously intense and require 40 hours or more of weekly classes and study time. In some MBA programs, you can choose between part-time or full-time formats.

Location

Location can be an important factor if the program is on-campus or requires on-campus modules. Some students prefer on-campus classes, while others prefer to go to college online. Even with a one-year online MBA program, a college nearby offers greater flexibility to network or attend some classes on campus. In-state tuition is also often less at public colleges.

Accreditation

Accreditation is essential for degree acceptance and credibility. Accredited programs and colleges must meet national education standards. Employers and colleges both look for applicants with an accredited degree.

One-year MBA programs must still meet accreditation standards. They are often intense because you complete the same requirements of many two-year programs in one year.

Student Support

You should consider a college's student services. Student services can support your career and may help you get internships that can lead to further opportunities.

They can also connect you to mentorship programs, tutoring, or an alumni network. Many colleges offer excellent student services for online students as well as on-campus students.

What Can I Do With a One-Year MBA Degree?

MBAs provide a versatile and transferrable set of skills required in many different business environments. Whether your interests lie in sustainability, human resources, marketing, or financial management, earning a one-year MBA can help you work towards your professional goals.

Graduates often look to an MBA for the increased earning potential after graduation. The Graduate Management Admission Council's 2021 survey showed a median salary of $115,000 for MBA graduates. According to the BLS, some common business careers had median salaries significantly above the national median for all occupations in 2021, including:

• Human resource specialists: $62,290
• Budget analysts: $79,940
• Financial analysts: $95,570
• Management analysts: $93,000
• Personal financial advisors: $94,170
• Top executives: $98,980
• Financial managers: $131,710
• Computer and information systems managers: $159,010

Best Accredited One-Year MBA Programs

Rankings compiled by the BestColleges Ranking Team

Frequently Asked Questions About One-Year MBA Programs

Is a one-year MBA valid?

A one-year MBA is a valid degree that requires you to meet set requirements comparable to a traditional MBA degree. You can use one-year MBAs to help accelerate career advancement. Both employers and graduate schools respect these one-year programs.

A number of top universities now offer one-year MBA programs. Northwestern, Cornell University, the University of Notre Dame, and the University of Southern California all have accredited one-year MBA programs. You can ensure degree validity by selecting an accredited degree program.

Are there one-year MBA programs in the U.S.?

While Europe has long been known for intensive one-year MBA programs, colleges in the U.S. have expanded their offerings in recent years. As of May 2022, more than 25 top-rated one-year MBA programs are offered at colleges across the country.

Northwestern, Cornell, New York University, Duke University, and University of Florida are just a few of the many colleges offering one-year MBA programs in the U.S. These programs also provide training, networking opportunities, and rigorous academics.

You can also consider online MBA degree programs to earn a degree while working. Some MBA programs have a hybrid format so you can benefit from flexible online classes and on-campus opportunities.

What is the easiest master's degree to get online?

There are an increasing number of online master's degrees available. Which master's degree is the easiest will depend on your interests, aptitude, strengths, and weaknesses.

You can enroll in a part-time online master's degree, which allows you to continue working while earning your degree. You should consider program format, location, total costs, and time when selecting the best master's degree for you.

Are one-year MBA programs worth it?

A one-year MBA program may lead to greater career opportunities or a higher salary. According to the 2021 Corporate Recruiters Survey by the Graduate Management Admission Council, the median salary for MBA graduates was $115,000. That is $50,000 higher than the median salary for bachelor's degree holders surveyed.

With an MBA, you can pursue many careers with salaries above the national average. As of 2021, human resource specialists had a median salary of $62,290. Top executives earned a median salary of $98,980, while financial managers earned a median salary of $131,710.

Why are some master's degrees one year and some two years?

Some master's degrees are one year and others two because of the required credits and program formats. One-year degree programs are often considered accelerated programs. They may require you to hold a bachelor's degree in the same field.

Two-year master's degrees may have additional requirements like internships, research, or a final thesis. For MBA degrees, these internship opportunities are valuable if you want to start a career in a new field and gain experience. Two-year master's degrees can also enable you to earn a dual degree, such as a dual MBA and MS.