I am guessing that you got admissions from columbia or nyu's part time program and you are an analyst at a bulge bracket? Whats the rush? Go look for a job at a hedge fund or p/e if you are fed up with banking then apply to a top ten program. If things don't work out you can also apply for the one year program at columbia.
Then go look for a PE job and make some more money. The one year program is a shortened verson of the full time two year program. You will still receive the MBA no different than the two year program. The only difference is that you won't be doing an internship. Most of the people in that program have finance background and will go back to finance hence no internships needed. Is always better to do the MBA early.