I don't think that you should feel that it is too late to do a 2-year MBA because you are already 31.
The decision ought to depend on whether your objective is a career switch or continuation in the same industry and possibly function, but more senior responsibilities.
If you desire career switch, you may be better off doing a 2-year MBA even if you are 31.
I have met a person who was nearly 34 years old, who is IIT B.Tech, Comp. Sc. topper and who has done MS from a top US school and worked for nearly 12 years in some well known MNCs- who chose to do a 2-year MBA at one of the IIMs.
I asked him, "why not a one-year exec MBA"? His reply was, " 2-year PGP from IIMs has better brand, better net-work and better learning opportunities'.
By the way he graduated this year and inspite of the tough job market, he got a good job in one of the International Banks with overseas posting.
He also said that he preferred IIMs over some of the top B-schools abroad because, the costs are very high and the risks are very high for Indians studying in US B-schools, particularly in a recessionary situation.
You need to examine the costs, benefits of doing MBA overseas, paticularly given the restrictions on employment and restrictions on H1-B and Green Cards.
If you are already on H1-B and you are eligible to be on H1-B for some more years, then H1-B may not be such a serious issue.
If you have to come back to India for a job, then I am not sure Cornell MBA is such a good idea, whether AMBA or 2-year MBA!
The number of overseas candidates are many more in AMBA as compared to 2-year MBA.
The placements were good for AMBA for the earlier years; but the last year, placements were not so good for AMBA grads as compared to regular MBA.
You can't go by their statistics; you have to look for the placement statistics for the foreign students, which generally are not on par with the placements for US citizens, except in the top few schools.
In your profile everything is above the average of what is posted on the website for AMBA students, so it really boils down to your essays and recos. If you can nail those it should be a breeze :)
Mine is -
5.5 years work ex, SW development.
MCA ~72 %
Stats Hons 51% (my Achilles heel)
lots of international exposure.
Now admitted to Simon for Fall 09, awaiting results for Cornell, NUS, UT Austin, HKUST and INSEAD jan 2010 batch.
Where all are you thinking of applying.
My biggest reason for doing a 1-year program is my age. I am already 31 years old and applying for FALL 2010 program so will be 33 years old by the time I start MBA. So it will be better if I graduate early.
Here is my profile:
Total years of full-time career experience: 7
Current industry/field of employment: Software Development
Current title, function and duties: Lead Developer. Leader of a team of 5 developers.
Advanced Degree: MS Computer Science, University of Denver, Denver, CO USA (3.87 GPA)
Undergrad Degree: BE/BS Computer Science , India (75%)
GMAT: 750 (Verbal 40, Quantitative 51, AWA 5.0)
Extra Curricular: Decent
Do you think I have a chance at Cornell for either 1-year or 2-year program?
What is your status & profile?
There is a thread on BW forums where the Johnson school admissions staff is taking questions and there also a lot of people have asked the same question that you are asking. Have a look at that thread, or post a question of your own there 😃
Given your experience, 1 year program might make more sense for you. I have 5.5 yrs work ex in IT as well as a masters degree too. Initially I was also tempted to go for the AMBA program. But the thought of trying to look for a job in mid 2010 ( a job hunt which would actually start by sept - oct 09) would not be easy and hence have applied to the 2 year program.
As far as rating goes, its pretty much the same. If you can get a job initially after the MBA, the 1 yr and 2 yr are not that different, since the degree is the same. And I have known quite a number of people who have bagged really good placements after 1 year MBAs too. However, if you can afford to spend 2 years at this point of time, it just might be better in the short term, given the current scenario and the added advantage of an intership.
Still, if you want to return to the IT industry ( if that's where you are right now) then 1 yr program is also good.
Regarding the employment statistics for the aMBA program, I knew a person who was in Cornell batch of 08, and he said that the palcements for the AMBA are also pretty good, but the career switchers do face some initial problems.
Thanks for your comments Ramanhari.
I have 7 years of work experience and a Masters degree in Computer Science.
When I said how does it compare to 2-Year program I meant 2-Year program at Cornell. I could not find separate employment statistics for 1-year and 2-year programs at Cornell so I am interested in knowing how the employers view the 2 programs. Is accelerated program rated at the same level as 2-year Cornell MBA?
Well there is a basic difference in the 1 year program and 2 year one which I am sure you would understand. If you feel that a one year program is better for you at this point of time, Cornell's is amongst the best in the US.
Kellog, Cornell, Emory, and a few more which are really good.
However for this you need to have a master's degree also.
Comparing a 1 year program to a 2 year one is more along the lines of the apples and oranges comparison. it totally depends on your requirements and situation. Eg if you have a 6 year work ex andwanna return to the same industry in a different profile this would work for you. but if you have 2 years work ex and wanna switch from say IT to IB then this might not be really easy 😃
How good is the Cornell's Accelerated (1-Year) program? How does it compare to the 2-Year program? I could not find any employment statistics for the 1-year program students.