EXPENSIVE DEGREE, Yevgenia Noskova

29/10/2013

Rg.ru (Site news), October 21, 2013

People who are aimed at breakthrough in the career get enlisted to MBA programs first of all. Such a huge quantity of players is present on the market of business education now that it is extremely difficult for a potential student to decide where to go to get MBA degree.

Rg.ru (Site news), October 21, 2013

 

People who are aimed at breakthrough in the career get enlisted to MBA programs first of all. Such a huge quantity of players is present on the market of business education now that it is extremely difficult for a potential student to decide where to go to get MBA degree.As a rule, general-purpose programs are intended for the young people who have just graduated from the university. They included courses in finance, marketing, management, HR etc. Specialized programs Executive MBA (EMBA) that imply broadened studying of these or those topical sections are intended for those who already have practical experience. These are specific in-depth programs aimed at retraining and improvement of qualification of top managers. There are hundreds of Russian and foreign programs to choose from including both worldwide known ones that have occupied the first places in the ratings of the best ones and those that have existed only for a few years. In any case, whereas Russian schools accept students all the year round in majority of foreign schools enlistment ends in December and that is why it is necessary to choose a foreign alma mater already today. EMBA program of business school Kellogg in Hong Kong is on the first place in the rating of Financial Times (for the fourth year in succession). It costs about $140,000. It is possible to study in the biggest cities of Asia (besides Hong Kong these are Beijing, Tokyo, Kuala Lumpur, Mumbai, Singapore, New Delhi etc). Along with this, 55% of students of the school are not Asians. The program is divided into short intensive modules. Participants pass through two courses monthly. Each of them provides certain practical tools for fulfillment of current tasks and surmounting of global challenges because the main goal of the program is formulated as "increasing of competitiveness of your business." An average annual salary of the graduates amounts to $465,000. The Wharton Business School of the Pennsylvania University offers "Wharton MBA for Executives" program. It costs $176,000-178,000 (depending on the chosen specialty and place of studying: Philadelphia or San Francisco). In the course of learning students not only receive knowledge from the best lecturers of the world and practicing businessmen from the relevant industries but also share experience with each other. It is possible to get back the money spent in less than a year. According to the rating of Financial Times, salary of graduates of the school amounts to $229,000 per year. One of the most popular programs in the world is Global Executive MBA of INSEAD. It calls a possibility to study in three areas of the world – in France, Singapore and Abu Dhabi – its competitive advantage. The program makes provisions for an intensive course with length of 14-17 months (as a rule, standard programs last for two years). Its costs vary from $98,000 to $159,000. Graduates can count on salary of $212,000 per year. The program of London Business School is equally popular. It is possible to study not only in the British capital but also in Dubai. Both cities are called "incredibly dynamic" in the program giving access to huge markets, biggest organizations and international business leaders. For this access you will have to pay 61,000 pounds if you wish to study in the UK and $95,000 if you prefer United Arab Emirates. An average one-year salary of graduates of the program amounts to $180,000Vera Anistsyna, head of the group for human resources recruitment of HR agency UNITY, says:- A Western MBA program where teaching is done in the English language and practice is shared by the leading managers from the top international companies is the most attractive education. Russian MBA is cheaper, simpler and, what is the most important for the employer, an employee has a possibility not to fall out of the working process for a long time. Of course, it is possible to find business coaches with international name in Russian MBA programs too but, as a rule, the share of foreigners is not bigger than 20% and there are also programs where coaches are only our compatriots and only during practice (as an additional option) it is possible to communicate with foreign specialists "alive." People who are first of all aimed at breakthrough in their career come to study to MBA programs. These programs are strong because they offer to the student high-quality applied knowledge from business practitioners and strong business relations. The contacts established during the period of learning will help the graduates to develop and to build their business in the future and that is why, according to professionals, it is better to study where you plan to work in the future. In any case, Russian graduates of prestigious international business schools are not always aimed at conquering of Western labor markets. With a certificate of a prestigious school in Russia it is possible to cunt on significant promotion on career ladder and increase of income too. Besides, graduates with MBA degrees of foreign business schools are hired by Russian representative offices of the biggest international corporations with pleasure. Anna Izmailova, head of market communications of Stockholm School of Economics in Russia, says:- If the employer has Executive MBA degree he will have a more loyal attitude to the graduate who presents certificate of his business school. International corporations treat MBA certificates received in well-known Western schools with big respect. For them these are brands that have existed for a long time and guarantee a certain level of knowledge and skills of an employee. In case of choice between studying in Russia and abroad the fact where a person plans to live and work in the future will be an important factor. It is possible to get a foreign degree in Russia now too because majority of the biggest domestic business schools offers joint programs after graduation from which a graduate receives two MBA certificates, Russian and Western. It is possible to pass through a foreign module in the framework of a Russian program in various schools: in Spain, UK, China, France, US and other countries. Prices of such programs vary from $20,000 to $70,000 depending on duration and courses that are comprised by the program. Along with this, as a rule, a foreign module is an additional module, which means that it is possible to pass through the program even without it and to receive only a Russian certificate. The main advantage of obtaining of MBA degree in Russia is the fact that it is not necessary to get separated from business and current activity for a long time. However, according to specialists, when you choose where to study, in Russia or abroad, you need to be oriented at what will bring the biggest effect. If a person is aimed at international career, of course, it is necessary to choose a Western program (it is possible to choose a joint program with a Russian one). If it is necessary to work in Russia it is necessary to be oriented at areas of business. For instance, in consulting availability of MBA degree is mandatory and in industrial and HR companies it is required only for the top positions. In Russian companies such requirements are more often stated when the owner wants to hire a "Western" manager or decision is made by the Board of Directors and the matter is about very "expensive" candidate. Novikova continues:- If we speak about industrial sectors, in accounting and finance availability of MBA degree is mandatory for positions of the level of CFO and financial director in all sectors. English and American schools are the most demanded. In "luxury" segment candidates get specialized MBA in France or Italy. On the market of "real estate and construction" MBA is little demanded and is declared as a mandatory requirement very seldom (in my personal practice never). Anistsyna emphasizes that for employer additional education is an incomparable advantage favorable for the candidate but professional competences of a manager and goals achieved are evaluated first of all and presence of any certificates is estimated after that. Experts have concluded that availability of MBA may be an advantage for candidates for the top positions where strategic tasks prevail but in reality the degree does not have a significant role and is estimated only together with confirmed experience. Director for development of business of Hays in Russia Elena Novikova remarks that not every MBA certificate really has weight and it has positive effect on the attitude to the candidate not in every case. Availability of a degree is useful if the candidate has studied in the same school where the persons who hires him has studied too and also if in addition to the certificate a candidate has practical experience of work, the same or better than that of his competitors (along with this, salary expectations of the candidate with MBA are adequate to the market). 

 

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