Here’s a run-through of some of the most popular questions potential

students tend to ask the Rector of the Institute of Business Studies, and his answers to them. He explains the basic differences between the different kinds of MBAs on offer in Moscow.

Why are MBA (Master of Business Administration) programs in Russia getting more and more attention?

Stiff competition in the Russian market requires better management expertise to perform successfully. A technical degree coupled with common sense and work experience is no longer sufficient. As a result, there is an increasing need to study the basics of business and effective management. MBA programs worldwide are designed to meet this need and to train professional managers.

What makes getting an MBA different from getting a college degree?

MBA students worldwide are usually university graduates — engineers, doctors, philologists, diplomats, etc. — who already have professional experience. Many have decided to go back to school because today’s management problems are getting more complicated and solving them takes more than just a bit of experience and common sense. Also, unlike many undergraduate degrees, the MBA is an applied degree, one that stresses both practical and theoretical problem solving. The majority of MBAs cover four main subjects: fundamental business theories; management skills; the basics of decision-making; and how the free market works.

So, then, are most MBAs pretty much the same?

Well, not really. There are full-time MBA programs, often called junior MBAs because only young university graduates or those with only 2-3 years of work experience have the time to attend their courses. Such programs are available at places like the Graduate School of International Business and the MIRBIS business school. These programs usually last for one to one-and-a-half years.

Then there are the part-time MBA programs, such as those offered by the Institute of Business Studies of the state Academy of National Economy (IBS-Moscow), the Ministry of Trade’s Higher Commercial School and the business school of the University of People’s Friendship. As a rule, these kinds of programs are designed for people with considerable work experience, who already hold important positions in their companies. They last about two years.

Standing somewhat apart are EMBA, or Executive Master of Business Administration, programs. These are intended for experienced middle and top managers, people with at least six to eight years’ work experience (five to six years in Russia due to the country’s short business history). EMBA programs are a little shorter, at about one to one-and-a-half years long, because some of the more theoretical aspects are cut out of the curriculum. It’s thought that most of these students already have those basics.

Of primary importance in EMBA programs is developing personal and group managerial and leadership skills. Students also focus on how to elaborate a company’s strategy. Today, the only EMBA program in Russia is the one run jointly by IBS-Moscow and the University of Antwerp’s management school in Belgium. Upon graduation students obtain an EMBA degree at the University of Antwerp Management School.

Last, but not least, there are specialized master’s programs, which are intended for working managers who want to intensely focus on one particular area — finance, marketing, human resources, international business, hotel business, etc.

What’s the difference between U.S. and European MBA programs?

Traditionally, U.S. and European business educational systems have followed their own paths. However, in recent years the differences have become less pronounced. This is especially true for MBAs, where the American style has become established in the European market.

At present there are no essential differences between American and European MBA programs, either in content or in quality. In fact, there has even been serious discussion about developing uniform standards across the Atlantic. The world’s leading companies treat with due respect both U.S. and European MBA diplomas. But of course, in the United States, American diplomas are given greater preference and in Europe, European ones are preferred.

Where is the best place to get an MBA? Should Russians try to study in the United States, Western Europe, or at home?

Everything depends on your aims and resources. For instance, if you can afford to study in one of the best American or European business schools — such as Wharton, Harvard or Stanford in the United States, or the London Business School in England — your choice is undoubtedly right.

As far as those overseas business schools that are not as highly regarded go, one should think twice before running off to them. They are often not much better than programs offered here and, if you stay in Russia, you don’t have to leave work. In fact, if you are planning a career in Russia, it’s probably wiser to stick with a Russian program.