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Business Review, 1 Ìàÿ 2003
Local Color
Russian MBA programs offer a lot, and cost less than their Western counterparts.
Until recently, studying in business schools abroad was the only way to get a good MBA diploma. Today, there is a decent number of local business education options available for students who cannot or do not wish to go abroad.
An aspiring business student can get an MBA diploma in home-grown business schools, which were built around Soviet-era economic institutions. These schools can be a viable alternative to many Western MBA programs. However, they still often lack the resources and experience to compete directly with their foreign counterparts. In this case, joint ventures between Russian and foreign business schools or foreign-accredited programs in Russia can be an ideal solution to combine local experience with international standards.
“For the past decade there has been a growing demand in Russia for cooperation with British universities in business-related areas of education. This cooperation can prove quite fruitful for future professionals as it allows them to study within the British system of education without leaving Russia, and to pay less money for it,” said British ambassador to Russia Sir Roderic Lyne at the April 11 inauguration ceremony at the British Embassy in Moscow of one more joint program, this time between the University of Hertfordshire and the International Institute of Advertising.
A Russian student wishing to attend a top MBA school in Europe or in the United States should be prepared to pay up to $30,000 annually only in tuition fees. The cost of MBA studies in Russia at the foreign-accredited or joint programs does not exceed $5,000 to $6,000 annually.
The level of teaching at foreign-accredited or joint MBA programs does not differ much from corresponding courses at home universities. “Any standard MBA program should have a basic set of core subjects on marketing, microeconomics, macroeconomics, management and finance. Otherwise, it would not be recognized,” said Peter Kaloshin, head of the Classical Business School, which offers a two-year MBA from the American University of Business Administration in California. “Even books, course materials and tests are the same, since they have to correspond to the international standards of business education. If these are not met, then there is no value in such an education,” he added. Entry requirements are also the same: people must have completed higher education and have a minimum of three years of work experience, and good knowledge of English and GMAT scores.
Sergei Gorlov, executive director of the International Institute of Advertising and vice president of the International Advertisement Association, shares this opinion. “The core subjects offered by the school are the same as those of our foreign partners. The difference lies in case studies and practical experience that is more adjusted to Russian industry requirements,” he said. The International Institute of Advertising runs a number of courses on marketing together with the Bavarian Academy of Advertising and has just launched a new program with the University of Hertfordshire.
In addition, Gorlov mentioned that very often specialists educated in the West face problems adapting themselves to Russian realities upon completing the period of study. “Russia is a very dynamic market that can completely change within a two-year span,” he said. Hence, practical experience acquired by graduates in the West very often was not applicable in Russia and they had to learn to adjust their theoretical knowledge to reality. “Our program on marketing with the University of Hertfordshire is designed in such a way that it combines the best British methods in this field with a Russian cultural environment,” Gorlov said.
Unwillingness to leave a Russian working environment was one of the main reasons why Aya Tonoyan, marketing manager for UFESA household appliances within Bosch Siemens Hausgeraete Group, opted for a local MBA school. Studies in the West “mean to be cut off for a two-year period from a real work situation, while the practical knowledge, especially the one you gain working on the Russian emerging and swiftly developing market, is often even more valuable than the theoretical knowledge you receive in school,” she said.
Diplomas of the officially accredited foreign courses do not differ from the certificates received by graduates in the home universities and these diplomas are recognized worldwide. “All the officially accredited programs of British universities offered in Russia are audited every year by the overseeing bodies. Thus, they need to meet all the British standards of education and produce certificates that are valued by British companies,” said Paul Norton, British Council assistant director for education promotion and awards.
However, it is still difficult to measure the recognition of such schools by employers. “The value of the MBA diploma depends mainly on the future employer and sphere of specialization,” said Tatyana Baskina, a recruitment consultant with the ANCOR recruiting company. “Production and trading companies are quite satisfied with diplomas from the joint or foreign-accredited MBA programs or even local MBA equivalents in finance and management. In marketing and consulting an MBA is more of an image thing, thus companies want to see diplomas from prestigious Western schools,” she said.