Map of the business education in Russia: current trends

1. Map of the business education in Russia:current trends Dmitry E. Tolmchev Director of UrFU Graduate School of Economics and Management Director of the Analytical Center «Expert»

2. Evaluation of business schools trough rankings: one sided approach Forbes. America's TopMBA Programs Bloomberg Businessweek Best Business Schools Key factor – Rate of return for the school alumni • Average earnings during 5 years after graduation subtracting cost of the program, taxes and missed earnings • Payback period • Wage increase after finishing program • Cost of the MBA program • Average entrance GMAT score • Employer survey (evaluation of education quality) • Alumni survey (survey 6-8 years after graduation) • Student survey Share of employed alumni • Starting salary US News. Best Business Schools Rankings Financial Times. Global MBA ranking European Business School Ranking • Reputation (survey of deans and directors of business schools) • Employment success (starting alumni’s salary, time spent looking for the employment) • Quality of students (average test GMAT scores, GPA) • Integral evaluation for European and US schools • Around 20 factors including: • Alumni’s average wage after 3 years after finishing school • Share of alumnus employed after 3 months of finishing school • Quality of research projects • Share of foreign students • Share of professors with Ph.D. • Wage increase after finishing program “Firm’s secret” journal ranking (RUS) • Alumni survey: • Earning increase • Promotion results • Business connections • Personal and professional growth

3. 316 из 450 готовят менеджеров 21,3 Map of the business education in Russia • Conducted by Analytical center “Expert” in partnership with GSEM UrFU • 70 participants that have over 83 thousand students: Total number of participants’ students, by type

4. Current trends in Russia: Business and education • New internal Corporate Universities in big companies: • Ability to provide training with out official diploma for the employee • Tailor-suited narrow programs • Growing interest of medium-sized companies for business schools training • Changing demand for educational programs: • Fast, relatively cheap narrow educational programs/e-learning • Strategic educational programs (EMBA, DBA) for executives • Substitution of MBA programs by increasing demand for applied Master's programs • Compared to the 2008 crisis there is no increased demand • Decline of the demand is softened by “import substitution”. Due to currency devaluation more people are switching for Russian-based programs

5. Current trends in Russia: Accreditation focus Only 10 participants have at leastone accreditation EPAS accreditation AACSB accreditation International Management Institute LINK RANEPA GSEM UrFU Lomonosov MSU Business School International Management Institute LINK * EFMD accreditation NASDOBR accreditation EQUIS accreditation International Management Institute LINK RANEPA Financial University under the government of the Russian Federation Higher School of Economics Peoples’ Friendship University of Russia The Institute of the World Economy and Business Kaliningrad International Business School The Immanuel Kant Baltic Federal University Graduate School of Management, St. Petersburg University AMBA accreditation RANEPA International Management Institute LINK Graduate School of Management, St. Petersburg University «Sinergy» University