Master of Business Administration

Introduction to MBA (Master of Business Administration)

The abbreviation for MBA stands for Master of Business Administration. By definition, it is a general Management degree designed to educate business students in various areas including Finances, Human Resources, Marketing, Strategy, and Operations Management. These days the majority of graduate students are heading to pursue MBA as it not only helps in their career growth but also helps in the overall development of their personality.

Now here comes the next question, what sets an MBA degree apart from the regular Master’s programs that are also offered by various universities and colleges all across India and abroad. The one thing great about the MBA program is that it offers peer-to-peer education, which also includes successful business people and interaction sessions between students coming from diverse backgrounds. Talking about pursuing MBA in India, the Indian Institute of Management (IIM) is the most prestigious institution to study MBA in India, but the cutthroat competition only allows a few students to seek admission. Now here comes the next option for all those students who were not able to secure an MBA seat in India can always opt for the option to study MBA abroad. Pursuing MBA from abroad is indeed a great opportunity for students to build a vast network and create new and fantastic business opportunities.

Pursuing MBA from a top international business school will not only help you to become a well-rounded business graduate but will also make you an expert in various areas. Some of the popular jobs that MBA graduates can seek after completing their program include product manager, business consultant, health services manager, financial manager, marketing manager, and others. In fact, you can also choose to become an entrepreneur and establish your own business.

Now, here comes the next question, which is the best country to study MBA abroad? Well, the answer is Russia. There are endless advantages of studying MBA from Russia. We will be discussing everything in detail here, why and where you should study MBA in Russia.

Table of Contents

1. Why Study MBA in Russia?
2. Eligibility Criteria to Study MBA in Russia
3. MBA in Russia: Duration of Course
4. Top MBA Courses in Russia
5. Top University to Study MBA in Russia
6. MBA in Russia: Salary
7. MBA in Russia: Russian Government Scholarships
   • How to apply for a Government Scholarship?
8. FAQs

MBA in Russia- Quick Overview

MBA in Russia: The Duration of the Course

Well, there is no denying the fact that the general MBA is the most popular course choice opted by international students who have made their mind to study MBA in Russia. Though, Russian universities offer various other specialties including-

• MBA in Strategy
• MBA in Healthcare Management
• MBA in Marketing & Sales Management
• MBA in Finance
• Global Executive MBA
• International Executive MBA
• MBA in Entrepreneurship

Top University To Study MBA in Russia

National Research Mordovia State University

The faculty of Economics under National Research Mordovia State University welcomes graduates who completed the bachelor degree programs in «Economics» and «Management», representatives of public and administrative authorities, entrepreneurs, and those who want to set up their own business to apply for the master degree program track «Management».

The master’s degree program «Management» offered by Ogarev Mordovia State University requires two years of study (4 semesters), including the writing of graduation qualification work (master’s degree thesis). After successful completion of the curriculum, a state-recognized diploma is awarded.

The program is taught in English by highly qualified teaching staff: 4 holders of a Higher doctorate degree, full professors, and 17 Ph.D. degree holders having extensive teaching experience in international master degree programs and MBA programs. Many lecturers are current (practicing) heads and leading specialists in organizations.

Subjects To be Learnt During The 2 Years Management Program-

1. Core part (common for all programs within the program track «Management»):

• Methodology of research
• Project management in professional activity
• Current problems of management
• Modern communication technologies
• Cultural studies
• Psychology of personality
• Managerial economics
• Methods and information-analytical technologies in management
• Management and simulation of business-processes management of innovations
• Team building and leadership

2. Variative part (including the elective courses that reflect the specifics of the master degree program:

Specialization Subjects «Strategic management in the digital economy»

• Development and inoculation of company’s strategy
• Organizational behavior and organizational culture
• Modern marketing technologies
• Digital transformation of business
• Management of sustainable development
• Digital economy
• Strategic management of human resources
• Financial management against the backdrop of global changes
• Integrated management systems
• Investment management and business planning
• Forecasting organization development
• Risks of an organization’s strategic development
• Management of organizational changes
• International management
• National innovative systems
• Knowledge management
• Strategies of organizational development
• Crisis management against the backdrop of global changes

Specialism Subjects «Entrepreneurship for sustainable development»

• Business planning of entrepreneurial activity
• Organizational behavior and organizational culture
• Marketing technologies in business
• Digital transformation of business
• Sustainable development Management
• Human resource management in business structures
• Financial management in small and medium-sized businesses
• Lean manufacturing
• Social responsibility of business
• Taxation of small and medium-sized businesses
• Accounting and analysis in small and medium-sized businesses
• Environmental management in business structures
• Green economy
• Risk management
• Management of changes
• International Business
• International Management
• The image and business qualities of an entrepreneur
• Documentation support of entrepreneurial activity
• Modern problems of entrepreneurship
• Management of small and medium-sized businesses

Each of the four semesters includes lectures, practicals and seminar classes, research work, curricular practical training, self-study and is finalized with an examination session. Course papers and master’s degree thesis are geared to the study of the everyday practices in use at various organizations. Teaching employs active and interactive methods, in-class work, and tele-learning technologies.

The advantage to Study MBA from National Research Mordovia State University Not only in fact there are two of the greatest advantages that international students can get if they choose to study MBA from National Research Mordovia State University. Those are-

• During the last semester, the student can choose to go to London and complete their last semester. This is totally an optional choice offered by the university to all the enrolled students who are pursuing MBA from Mordovia State University. Going to London to complete the last semester will surely elevate the portfolio of any student.
• After successfully completing 2 years of MBA programs from National Research Mordovia State University, the student can apply for an internship in any country of the world without any hassle. In this way, the student will get global exposure during their internship phase.

MBA in Russia: Salary

In Russia, the salary of an MBA professional ranges from Rs. 10-15 lakh per year. Though this amount can vary and go over Rs. 35-40 lakhs per year with the increased awareness and years of experience. In comparison to other European countries, salaries for MBA professionals in Russia are significantly higher. International students working in Russia will take advantage of Moscow’s and Saint Petersburg’s opulent lifestyles.

MBA in Russia: Russian Government Scholarships

After qualifying for the entrance examination or the Uniform State Examination (EGE), some categories of international, Russian students living abroad, and immigrants can apply for state scholarships on the same terms as Russian citizens. Once they have qualified for this examination, the Russian government offers all the international students the so-called “state-funded spots” at various MBA offering universities every year. This year (2021) a total of 18,000 such “state-funded spots'' will be available for students to secure.

Summing everything up, the Russian government scholarships entails-

• Free tuition for the length of the selected program
• Maintenance allowance (for the duration of the program, regardless of whether or not the applicant is successful).
• Dormitory facilities/accommodation (if available).

However, travel costs, living expenses, and a voluntary health care program is not covered by the government scholarship. International students have to bear the cost of the above-mentioned things on their own while studying MBA in Russia.

Note: To find out how to apply for a state scholarship, contact the university of your choosing. Your informative letter will be responded to by the University’s International Office.

How To Apply For A Government Scholarship?

• Visit the website at www.StudyinRussia.ru, you will learn more about how foreign applicants are chosen in a very detailed way.
• Get information about available scholarships and fields of study by contacting the united operator* in your region.
• Fill out an electronic form and submit your application after registering on the website. Kindly mention:
• Fill out an electronic form and submit your application after registering on the website. Kindly mention:

  ★   Personal details (full name, date of birth, country of origin, e-mail address, and phone number – you will be notified of the status of your application).
  ★   Your chosen profession, specialty, or field of study (you can change this information at any time before taking the relevant tests).
  ★   Your present educational level.
  ★  Russian/English proficiency.

• To engage in the selection process, wait for an invitation (interviews, tests, examinations).
• Find your name on the list of applicants (based on test/examination results).
• If your name appears on the list of applicants, please bring additional documentation with you, such as a medical certificate, HIV test records, COVID-19 negative report, and copies of documents, among other things.
• Wait for a letter/notification from the university confirming your admission and outlining the next steps. A representative of the united operator in your country will relay this information to you.

FAQs

1. Is an MBA from Russia a good option for Indian students or not?

If independent ratings are to be believed, Russia has some good business schools as compared to other countries in the world. Their MBA graduates have a high degree of learning satisfaction. These schools are often included in the “Narodny Ranking of Russian Business Schools,” which is based on graduate interviews. So, an MBA from Russia is definitely a good option for Indian students.

2. Is Russia safe for Indian students?

Russia may not be as stable as Switzerland, but it is certainly not as dangerous as Latin America. The Russian government has taken a tough stance against skinhead activities, and the risk of being targeted by a xenophobic group is lower than it was in the early 2000s. So, Indian students don’t need to worry about their safety as it is absolutely safe to study MBA in Russia.

3. Is it expensive to study in Russia?

Russian universities are very affordable as compared to higher education institutions in the United States or the United Kingdom. For Bachelor’s degrees, international students usually pay between 1,475 and 10,600 EUR per year. Master’s degrees cost between 1,770 and 5,540 EUR per year.

This was all about an MBA in Russia and everything you should know. Universities in Russia are amiable to international students and promote diverse campus cultures. If you are considering pursuing an MBA then education in Russia is something to consider. We hope you find this blog helpful. For more academic-related queries get in touch with our experts at Newera Education!