Russia is a culturally rich country that is now quickly on its way to becoming a global power. Its economic affluence makes it one of the popular destinations for academic endeavors. Several institutions provide top-notch education with highly esteemed faculties. While engineering, medicine has been the most sought after courses by international students, MBA courses in Russia are fast gaining traction. Pursuing MBA from Russia is a great opportunity to widen one’s professional horizons and develop quantitative, analytical and interpersonal skills. Several notable institutions are offering a wide range of MBA programs. Read this blog to know about MBA in Russia fees, requirements, universities and more!
Table of contents
- Why Study MBA in Russia?
- Eligibility Criteria
- MBA in Russia: Course Duration
- Top MBA Courses in Russia
- Top Universities in Russia
- Top Business Schools in Russia
- MBA in Russia: Salary
- MBA in Russia: Russian Government Scholarships
MBA in Russia- Quick Overview
|Eligibility Criteria||Minimum 50% marks in Bachelors Degree from any discipline from a recognised university or equivalent.|
|Examination Type||Semester pattern|
|Course Type||Full time, Executive, Part-time, Online|
|IELTS or TOEFL||Required but not mandatory .|
|Medium of Education||English|
|Starting Salary Offered||INR 10 Lakhs per annum|
Must Read: Career Objective for MBA Graduates
Why Study MBA in Russia?
There are several reasons why you should study MBA in Russia. They are mentioned below.
- Studying MBA in a foreign land (such as Europe) would mean knowing both English and the state language. Admissions to institutes might require documents certifying proficiency in these languages. But a hefty tuition fee and additional languages courses can be heavy on your pocket.
- Universities in Russia offer Russian language courses and other language courses for a very reasonable price. Additionally, for pursuing courses in English, TOEFL or other certificates are not needed.
- MBA courses offered by Universities in Russia are far more reasonable than those offered by universities in the USA, UK or Canada. The level of training and the quality of education is on par with the West’s services.
- The Russian government offers several scholarships to international students. Through various scholarship programmes, students can procure free education or education at subsidised rates.
- Students can also avail an MBA degree by choosing English as the medium of education.
- International students can acquire discounts on public transports, for visiting museums, theatres, concerts, libraries and other public facilities, making a living and studying in Russia an unforgettable experience for many.
Must Read: MBA after Mechanical Engineering
The basic eligibility criteria for students who wish to pursue MBA in Russia include:
- The student applying should have completed 16- 14 years of education, i.e. must hold a bachelor’s degree in any discipline.
- Although it’s not mandatory, it’s preferred that students applying to appear for proficiency tests like IELTS or TOEFL.
- In case students have not appeared for IELTS or TOEFL, students have the option of appearing for an English language interview.
Also Read: Best Country to Study MBA
MBA in Russia: Course Duration
A full-time MBA course in Russia, like other MBA programs, takes two years to complete. Individuals can choose the length of their part-time MBA program based on how much time they need to complete their MBA degree. Professionals will improve their skills and expertise by enrolling in an 18- 20 month executive MBA in Russia program.
Top MBA Courses in Russia
While general MBA is the most popular course to pursue in Russia, universities offer various other specialities including:
- MBA in Strategy
- MBA in Healthcare Management
- MBA in Marketing and Sales Management
- MBA in Finance
- Global Executive MBA
- International Executive MBA
- MBA in Entrepreneurship
Top Universities in Russia
Tabulated below are the top universities and colleges for pursuing MBA in Russia. You can check it out here:
|St. Petersburg State University||2 years||INR 5.9 lakhs|
|The Stockholm School of Economics||1.5 years||INR 37.5 lakhs per year|
|Moscow State University||2 years||INR 4.6 Lakhs|
|Moscow International Higher Business School – MIRBIS||5 years||INR.2.88 Lakhs|
|Vlerick Business School||5 years||INR 5.68 Lakhs|
|Moscow School of Management||1.5 years||INR 4.80 Lakhs|
Let us now look at these universities in further detail.
St. Petersburg State University
Established 285 years ago, St. Petersburg State University is one of the oldest and the most sought after universities in Russia. It is a top choice by international students for pursuing MBA in Russia. The university consists of over 3000 teaching staff and over 32,000 students all over the world. St. Petersburg State University is especially renowned for its Masters in International Business program. Check out our blog on MBA in Civil Engineering
Moscow State University
Moscow State University is one of the finest universities for MBA in Russia that prides itself on having state – of-the -art facilities, infrastructure and highly established faculty. According to Times Higher Education, Moscow State University was ranked 155th among all the universities in the world. Moscow State Universityoffers various courses in EMBA and executive MBA but is famous for the Masters in International Business program.
Stockholm School of Economics
Though relatively new, Stockholm School of Economics has quickly become an outstanding business school offering great MBA courses in Russia. Concerning its tuition fee, the Stockholm School of Economics can be relatively expensive. However, the university offers various globally recognised courses like Masters in International Business and executive MBA. Also, read our blog on MBA Hospitality Management
Moscow School of Management
Moscow School of Management is widely regarded as a world-class business school owing to its excellent teaching facilities. It is one of the top 10 business schools in Russia making it an obvious choice for most students to study MBA in Russia. The curriculum adopted by this university gives importance to developing markets and global trends in business. Moscow School of Management was founded by 18 top-class international and Russian companies. Some of the specializations offered here include MBA in Social Media, Executive MBA and MBA in international business, to name a few.
Moscow International Higher Business School – MIRBIS
This college is ranked among Russia’s top ten management schools. Indian students can only apply for admission if they take the TOEFL or IELTS exam. The college offers courses such as Master of International Business, Master of Economics, and Master of Finance.
Vlerick Business School
Since it only offers online and distance MBA courses, this institution is well-known in Russia for its online and distance MBA programs. It offers courses such as Master of Business Marketing, Economics, Finance, and Accountancy, among others, and is thus well-known in Russia in its field. It offers placement assistance in addition to online courses.
Read: MBA in Logistics
Top Business Schools in Russia
Russia is also renowned for some of the best business schools. If you want to pursue an MBA in Russia then you must have a look at the names of schools tabulated below.
- The Russian Presidential Academy of National Economy and Public Administration
- Eurasian Management and Administration School (EMAS Business School)
- Lomonosov Moscow State University Business School
- IMISP International Management Institute St. Petersburg
- International University of Fundamental Studies (IUFS)
- State University of Management – Higher Business School
- Plekhanov Russian University of Economics
- The Russian Presidential Academy of National Economy and Public Administration
- The American Institute of Business and Economics
- Kazan Federal University
- Sinerghia (Synergy) Institute of Economics & Finance
- Moscow University Touro
- Kaliningrad International Business Institute
Explore: Best MBA Colleges in World
MBA in Russia: Salary
In Russia, an MBA professional’s salary ranges from Rs.10-15 lakhs per year. It can go up to Rs.35-40 lakhs per year with increased awareness and years of experience. In comparison to other European countries, wages 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 passing entrance exams or the Uniform State Examination (EGE), some categories of foreigners, Russians living abroad, and immigrants can apply for state scholarships on the same terms as Russian citizens. Furthermore, the Russian government offers foreign applicants so-called “state-funded spots” at universities every year. A total of 18,000 such spots will be available in 2021.
In a nutshell, the government scholarship entails:
- Free tuition for the length of the selected program.
- Maintenance allowance (for the duration of the programme, 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.
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?
- On the website StudyinRussia.ru, you will learn more about how foreign applicants are chosen.
- 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:
- 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, speciality, 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, 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.
According to independent ratings, Russia has some good business schools. 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.
Russia is one of the most popular study abroad destinations in the world, but students don’t just flock to Moscow. Other cities with prestigious universities, such as Saint Petersburg, Kazan, and Tomsk, are just as appealing to foreign students.
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.
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.
Degrees are available to study in Russia without taking the IELTS exam. It is possible to study in Russia without taking the IELTS exam. IELTS is usually required for admission to European universities.
This was all about an MBA in Russia. Universities in Russia and amiable to international students and promote diverse campus culture. 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 Leverage Edu!