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Best schools for one year MBA in finance????

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Best schools for one year MBA in finance???? [#permalink] New post 19 Jul 2013, 13:04
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Hi,

I really need some advice here.

Which schools are among the best that offer one year MBA in finance.

The reason I am looking for one year MBA is I think I have crossed the par age for the two year MBA. I am going to be 29 next month and closer to 32 by the time I get matriculated even if I get into a program that starts in 2014 Fall. Plus, I already have over 6 years of Work Exp.

I need advice on

1. whether a two year program does still make sense after considering the above ? ( I prefer one year for financial and personal reasons).
2. What are the best programs for one year MBA for Finance.
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Re: Best schools for one year MBA in finance???? [#permalink] New post 20 Jul 2013, 15:28
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Hey there,

Let's worry about schools second - why don't you help me understand this first: why do you want an MBA? What do you do now? There are a host of considerations that go into whether a 1 year program is right for you. So before we start talking 1 year programs, let's talk your profile.

If you could - share more please! We'll take it from there. How's that sound?

Bhavik
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Joined: 15 Apr 2013
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Re: Best schools for one year MBA in finance???? [#permalink] New post 21 Jul 2013, 09:20
Hi Bhavik,

Thanks for the response.

To be honest, I want an MBA because I think it enhances the career options and helps me get to top portion of the organizational hierarchy quickly.

Coming to my profile, I have been in the entry level management for the last six years. Well, It sounds to be too long but that's how my organization works - a bit slow but steady.None of my peers have gone up significantly.

I am a CMA from India ( Cost and Management Accountant). My profile includes Accounting Management as well as involving in financial planning, working out on Financial outlooks and flashes for the business I am associated with. Our company has many divisions and I work in one of those divisions that again has many businesses. I am associated with one of those businesses. So I have many peers if you look at the organization as a whole but a few one looked at business level.

Academics- More than 60% in every phase other than professional course (CMA). I have not converted my scores into GPAs becasue I do not think they fairly represent the grades. As you know, In India, Certain streams are less scoring and in certain streams you can get 100%. Moreover, CMAs do not get great percentages in general.

I am not too involved in extra curricular activities. I just now and then keep donating to NGOs and Social welfare organizations.

My hobbies include Long rides on bikes ( sometimes more than 1000 KM. Well, I am not part of any riding club or so but we do have certain friends so we go in a group),Reading books etc- I know does not sound great :(.

Please let me know if you need anything else.

Thanks in Advance for your great advice.

Regards,
Pavan.

P:S Can you throw some light on stream switching ? ( I was thinking of switching to HR. However, since I have been in Finance for more than 6 years, I thought It is not a good idea to switch now

CriticalSquareMBA wrote:
Hey there,

Let's worry about schools second - why don't you help me understand this first: why do you want an MBA? What do you do now? There are a host of considerations that go into whether a 1 year program is right for you. So before we start talking 1 year programs, let's talk your profile.

If you could - share more please! We'll take it from there. How's that sound?

Bhavik
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Re: Best schools for one year MBA in finance???? [#permalink] New post 21 Jul 2013, 17:02
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Hi Pavan,

So your work experiences after 6 years (I get flat organizations, so don't worry about that) probably has some opportunities for interesting experiences. How would you rate your personal experiences? Do you think they're average? Above average? Amazing? In other words, are you doing great things no one else your age is doing?

In terms of involvement, to be honest, donating doesn't count. Your hobbies, biking especially, are something to mention but they don't count in terms of impact really so I'm sure you know this part is lacking.

Finally, regarding academics, you haven't mentioned a GMAT score but your GPA is a little below average. I understand certain majors are more difficult than others (and come with lower grades) but even with an adjustment, you're in a very competitive pool. What did you get on your GMAT?

Your GMAT will make a big difference in what schools I can recommend so I'll wait for you on that.

Re: PS - no, don't mention this. You're pretty far into your career and a switch from a cost accountant to HR would be a very difficult story to communicate. You can explore it when you actually get in, but for the purposes of your application, just keep it in line!

Bhavik
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Re: Best schools for one year MBA in finance???? [#permalink] New post 21 Jul 2013, 22:36
Hi Bhavik,
I am really thankful to you for your prompt responses.

On the GMAT score front, I have got 650 but I am preparing for a retake to get 700+. I am trying to take the exam by second week of september so that I can catch up with the R2 for ISB.

On the profile front- I would rate it between Average and Above Average. It is challenging in terms of the number of things to do but as such the activities ,according to me, are not outstanding. So I would give it Average rating.

I handle a team size of about 10 people who report directly or indirectly to me. I handled a team of 20-22 people when I was in a different business. I am not sure whether this matters, but I have been associated with 4 different businesses during my experience in this organisation. Currently I am responsible for finance and accounts of a business that has a Turnover of about INR 6 billions


Pavan.

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Re: Best schools for one year MBA in finance???? [#permalink] New post 22 Jul 2013, 09:00
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Hah - yes, I would say that matters! You can definitely identify impact and scope clearly and there's no questioning that!

Ok, so let's assume you can get that 700+. The inherent issue becomes you don't have that many schools that offer structured 1 year programs. Kellogg, Cornell, Emory, and USC are probably the higher ranked options. I'd probably tell you to add Columbia's J Term to this list - it's not 12 months, but it's 16 and given their brand and network, might be worth the 4 extra months.

HOWEVER - let's go back to your original questions. Is a 1 year the right option. On one hand, it's a great way to get your MBA and tap into both the brand and the network. On the other, if you're looking to switch careers (e.g. HR), then you'd need the full 2 year program. The internship, involvement, and networking opportunities will be critical.

You're definitely not too old to apply to a full 2 year program - so don't let that stop you! And I understand it makes more financial sense to go for a 1 year but when considering this investment, keep in mind the saying "penny wise, pound foolish", right?

So with all that said - do you need or want a 2 year program? If the answer is no, then let's talk 1 year. But if the answer is yes or even maybe, then you have a little introspection ahead of you!

Bhavik
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Joined: 15 Apr 2013
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Concentration: Finance, General Management
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Re: Best schools for one year MBA in finance???? [#permalink] New post 24 Jul 2013, 01:21
CriticalSquareMBA wrote:
Hah - yes, I would say that matters! You can definitely identify impact and scope clearly and there's no questioning that!

Ok, so let's assume you can get that 700+. The inherent issue becomes you don't have that many schools that offer structured 1 year programs. Kellogg, Cornell, Emory, and USC are probably the higher ranked options. I'd probably tell you to add Columbia's J Term to this list - it's not 12 months, but it's 16 and given their brand and network, might be worth the 4 extra months.

HOWEVER - let's go back to your original questions. Is a 1 year the right option. On one hand, it's a great way to get your MBA and tap into both the brand and the network. On the other, if you're looking to switch careers (e.g. HR), then you'd need the full 2 year program. The internship, involvement, and networking opportunities will be critical.

You're definitely not too old to apply to a full 2 year program - so don't let that stop you! And I understand it makes more financial sense to go for a 1 year but when considering this investment, keep in mind the saying "penny wise, pound foolish", right?

So with all that said - do you need or want a 2 year program? If the answer is no, then let's talk 1 year. But if the answer is yes or even maybe, then you have a little introspection ahead of you!

Bhavik


Thanks Bhavik for your response.

I think I definitely need to go through some process of introspection now as I was thinking Age is the major barrier for me for a 2 year program and you have really given good piece of advice on the importance of 2 yr program if I really want to switch career.

Thanks Again Bhavik !!! Your insights will definitely impact my thinking and decisions.

However, considering that I am still slightly inclined towards 1 year program, I am interested to know your opinion on ISB's 1 year program or Insead's since the names you suggested do not include these.


Pavan.
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Re: Best schools for one year MBA in finance???? [#permalink] New post 24 Jul 2013, 04:39
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Hey man,

I'm happy to help! I'm glad you found it useful. ISB is a great program but if you're ever looking to leave India, probably not the best option honestly. Also, from a personal development standpoint, it might be nice to shake up the environment. A lot of the learning in an MBA classroom comes from those around you so keep that in mind.

INSEAD is a great program but it isn't right for everyone. Additionally, you don't really have international work experience which is something they really value. Additionally, their brand is stronger is certain global territories than others. Additionally, their 1 year program doesn't give you the internship option again and for them, that generally means something global, so that would be a bummer to miss out on.

I don't think either of them are bad options and they may fit certain personal criteria like cost but that's really up to you as you make a holistic decision.

Bhavik
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Top one year MBA programs [#permalink] New post 26 Jul 2013, 12:48
Hi dear members of GMAT club ! But my questions go especially to BAHvik whose advices are somewhat very helpful
I am a west african citizen,i am 42,Bsc in commerce,upper second class honnor, GPA:3.33,and WE:8years with 3 years in brand management.
However my first Gmat score was one of the wosrt cauz i got 200. Though my target schools are those of top 30.I'd like to know if my fisrt gmat score will be a real handicap even i get a better score by the 4 months coming up? secondly, as i 'am willing to do an MBA in general management, what kind of MBA shouldi appy for ? one year or two year MBA program? thirdly ,what score aceptable score of gmat should i have to be accepted in the top 30
kind regards!
walbing 01
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Re: Best schools for one year MBA in finance???? [#permalink] New post 26 Jul 2013, 15:15
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Hi there walbing01 - it's nice to have a fan (is that the right phrasing? I have no idea...but thanks)!

So we don't hijack this thread I'll respond to your post via PM, ok?

Cheers,

Bhavik
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Re: Top one year MBA programs [#permalink] New post 26 Jul 2013, 16:04
walbing01 wrote:
However my first Gmat score was one of the wosrt cauz i got 200. Though my target schools are those of top 30.


I am a fan of yours ! Do you have a twitter account to follow ? :)
Re: Top one year MBA programs   [#permalink] 26 Jul 2013, 16:04
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