Studying Business: Accelerated Degrees at a Glance
An accelerated Master of Business (MBA) degree program is a MBA program offered in a condensed time frame that may be best suited to students who've had prior training in business fundamentals and want to deepen their knowledge in a specific area. Applicants often have several years of business experience. If you're stalled in your career, contemplating a change in direction or don't want to leave the workforce for two years, you might consider an accelerated MBA.
According to the U.S. Bureau of Labor Statistics (BLS), the job outlook for management positions varies by industry. For example, advertising marketing and promotions managers were predicted to see an average 14% increase in jobs from 2010-2020, while medical and health services managers were projected to see faster-than-average growth of 22% over the same decade. However, jobs for financial managers were predicted to increase 9% during the same period, which is slower than average.
| Accelerated MBA Degree | |
|---|---|
| Who is this degree for? | Students interested in a management career |
| Common Career Paths (with approx. median annual salary) | - Advertising or promotions manager ($88,000)* - Marketing manager ($116,000)* - Computer and information systems manager ($118,000)* - Financial manager ($107,000)* - Human resources manager ($99,000)* - Industrial production manager ($88,000)* - Sales manager ($102,000)* - Medical or health services manager ($86,000)* |
| Time to Completion | 10-18 months, full-time or part-time, depending on the school, as well as a student's background and preparation |
| Common Graduation Requirements | Approximately 36-61 credits, including core courses and electives (the required number of courses often depends on your previous education and business-related work experience) |
| Prerequisites | - Undergraduate degree, business area preferred - Coursework in business subjects helpful - Previous work experience in a business environment required by some programs |
| Online Availability | Available in online and hybrid formats |
Source: *U.S. Bureau of Labor Statistics (2011 figures).
Accelerated MBA Degree
During an accelerated MBA program, you may save time and money because you can complete a traditionally 2-year long program in a single year. You'll learn processes for evaluating and solving business problems in fundamental areas, such as resource management, finance, marketing, operations and strategic management. You may also learn technical skills like use of information systems for decision making and strategic planning. Additionally, the development of leadership and effective communication skills could position you for advancement. However, depending on the industry in which you work, an MBA might not be necessary to move up the career ladder, because some industries place more value on previous work experience.
Pros and Cons
Pros
- Depending on the program you select, you can re-enter the job market in as little as 10 months
- Some programs allow you to work while attending school
- Intensity of the program can heighten your focus and motivation
- Faster return on investment
Cons
- Tuition costs and loss of income may not be justified by the benefits of the degree
- Fast pace requires completing the same number of credits as students in a 2-year program in one year
- Limited opportunities for internships and school activities
- Could compete for jobs with bachelor's degree holders with more work experience
Courses and Requirements
Courses in an MBA program are designed to develop your leadership skills, provide in-depth knowledge of advanced business principles and hone your management and business communication skills. These programs generally require you to complete a core curriculum of business courses and let you select from concentration areas or electives. Some schools offer separate accelerated MBA programs for students entering without work experience and a bachelor's degree in a non-business area. In these cases, you might be required to take a preliminary program to prepare you for the rigorous pace of the accelerated curriculum. Core coursework in an accelerated MBA program may cover:
- Finance
- Economics
- Accounting
- Management
- Statistics
- Business strategy
- Leadership
Online Course Info
Accelerated fully online MBA degrees are rare, but available, through traditional schools, though individual courses and certificate programs may be easier to find. These programs may be suitable for candidates who are working full time, serving in the military, need to relocate during the program or are unable to travel to a physical location. In a distance-learning program, you may still have to make a set number of campus visits each semester, often on weekends.
Getting Ahead with this Degree
You could distinguish yourself by selecting a concentration in an area of interest or completing a targeted certificate program in an area such as global management, supply chain management or entrepreneurship and technology management. Some schools have a modified internship option that allows you to gain professional experience. You could also become a student member of a professional organization in your future field.
