Business education popularity grows

Entrepreneurs and high-flying executives far outnumber undergraduates in the dozen or so Masters of Business Administration programs offered in Ukraine.

They drive the demand for the coveted degrees, says MBA Field, a website devoted to reviewing higher education institutes. To meet the demand, learning centers are offering more programs while providing a mix of Western teaching methodology and practical local knowledge.

Since the majority of students are already engaged in business, none of the programs are full-time. Modules are packaged into blocks of several weeks spanning one to three years. There are longer “executive programs and shorter programs called “mini-MBA” that specialize in one field, such as finance.

Few programs are internationally accredited, according to MBA Field. They include the International Institute of Business, Kyiv Mohyla Business School, and International Institute of Management.

Local schools have advantages to their more prestigious foreign counterparts.

“Doing business in each (country) is different, so there are fundamental differences in the practical component of business education provided by Ukrainian, American and European business schools,” said executive vice president of International Institute of Business Yuriy Zelenin.

Lviv Business School graduate Volodymyr Harazd said his Executive MBA allowed him to do more like accounting and run a construction firm.

Main business schools in Ukraine

Source: mbafield.com.ua

Local MBAs receive international recognition as well. The Eduniversal Best Masters Ranking for 2014 included four Ukrainian schools: Kyiv National Economic University, Kyiv Mohyla Business School, International Institute of Business, and International Institute of Management.

Cost is an important consideration. MBA programs in the U.S. and Europe run $30,000-$100,000, depending on the prestige of the school. In Ukraine, prices are in the $10,000-$20,000 range at the more respected institutions. Also, employers in the West usually help with the tuition, while in Ukraine this boon is considerably less likely.

Getting into a foreign school is more difficult. Aside from the enormous financial burden, candidates need to pass a variety of language and business knowledge tests, write essays, and endure interviews.

Career goals matter as well. Business schools provide a forum for networking, for example, which in Ukraine is a big key to doing business. “An MBA program is a party in the best sense of the word,” says Zelenin. “It is very effective for meeting people of different positions from various industries to share their unique experiences.”

Zelenin also believes it is important that each MBA student has practical knowledge, and “up to 50 percent” of this knowledge will be obtained through peer discussion rather than from lecturers.

Still, the call of the world is strong in some students. Azerbaijan-born Agshin Mirzazade wanted to work for a multinational company so he enrolled at Duquesne University in the U.S. Today he is head of strategic planning at Unicredit Bank.

“Without that degree, I would not have gotten a job with an international investment company in Kyiv,” he said.

For MBA students, education is just as or even less important than other factors.

A survey conducted in 2013 by MBA Field found that while the main reason for attending a business school was to acquire management skills and applied knowledge in a field of business, the main factor when choosing a business school is the recommendation of friends and colleagues who have experience in MBA programs. For the vast majority of respondents – over 91 percent – an MBA should provide management skills and practical knowledge in a business field.

Kyiv Mohyla Business School and International Institute of Management cater mainly to managers of large and medium-sized companies, according to MBA Field, while Lviv Institute of Management is most interesting to the heads of small companies, and Lviv Business School likes entrepreneurs.

Kyiv Post staff writer Evan Ostryzhniuk can be reached at [email protected]