MBA in Russia

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MBA in Russia - Fees, Scholarships & Accomodation

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Like many other countries, pursuing ‘MBA in Russia’ is a best option for career aspiring students. For those who want to start their own business in Russia can choose to study Master of Business Administration in Russia which will give them a clear understanding of country’s realities related to the business and business complexities.

Everything that relates to a business administration is a rapidly developing field of knowledge and so as ‘MBA in Russia’. The MBA syllabus in Russia is such that student learns not only practical skills, but they also get a serious theoretical basis.

In Russia, for teaching a course in Master of Business Administration, very highly qualified staff gets appointed such as business consultants, heads of organizational units, working professionals etc., due to which a student would be easily able to adapt to almost any working condition regardless of its complexity.

MBA in Russia - Course Overview

Course Level Postgraduate
Eligibility Criteria A graduate from any discipline like Science, Commerce, Arts, Engineering, BCA.
IELTS or TOEFL Required but not compulsory.
Duration 1 or 2 years
Examination Type Semester pattern
Course Fees Rs.2 Lakhs to Rs.7 Lakhs per year
Admission Process Depending on the marks or grade obtained at the bachelor’s level and English language proficiency of the student.
Course Type Full time/Distance learning mode
Top Recruiting Companies Apple, Google, Cisco, Trimble, GE Healthcare, Syngenta, GlaxoSmithKline (gsk), RELX Group, Crossover for work.
Job Positions Program Manager, Operations Manager, Product Manager, Business Operations Analyst, Product Strategist, Digital Optimization lead, Senior advisor, Business Analyst etc.
Starting Salary Offered Rs.12 Lakhs INR/Year
Medium of Education English Language
Top Management University St. Petersburg State University

All Subjects of a MBA Program in Russia

Below mentioned are the MBA (Master of Business Administration) subjects which students need to study when they opt for ‘MBA in Russia’.

Managerial Accounting Macro Economics
Human Research Management Organizational Behaviour
Operations Management Managerial Economics
Marketing Management Business Laws
Business Ethics Quantitative Techniques in Management
Financial Management Management Information Systems
Strategic Management

Advantages of Studying MBA in Russia for Indian Students

  • Russia is best known for its strong academic schools in Physics, Mathematics and Natural sciences and students can acquire in-depth knowledge in all subjects in Russia.
  • Russian universities are much cheaper than the equivalent universities from USA, Canada and UK. Level of training at the MBA colleges in Russia and other Russian universities is far better than the educational institutions at the west.
  • International students can get the opportunity of getting free education through several thousands of MBA scholarships and other scholarships which Russian Government offers.
  • Russian language courses, summer schools and distance learning programmes are offered by Russian best B-Schools. Thus, 10.5 million foreigners are regularly learning Russian language. Russian government always encourage foreigners to learn Russian.
  • Students can take MBA degree through English medium of education.
  • By studying in Russia, students can receive dual diploma, a Russian diploma as well as a diploma from a European university as Russia has signed the Bologna declaration in 2003.
  • Russian MBA colleges have high equipped laboratories, best study facilities and scientific centers. They also provide students with comfortable and well equipped dormitories.
  • Students in Russia can get discounts on public transport, for visiting museums, concert halls, theatres, parks, libraries and other entertainment and public facilities. Thus, for Indian students studying MBA in Russia would be an unforgettable experience.

List of Top Ranked B-School/Colleges in Russia

Following is a list of top MBA colleges in Russia:

  • 1
    St. Petersburg State University - This university was established 285 years ago. The teaching staff of the university is 5000 people and the number of students pursuing their degree from this college is 32,000. The college is well known for its Master in International business program.
  • 2
    Moscow State University - Out of the finest universities in Russia, Moscow State University is the one. It has got 155th ranking among all universities in the world, according to Times Higher Education. Master in International Business (MIB) is the famous course of this university.
  • 3
    The Stockholm School of Economics - Among the management colleges in Russia, it is an outstanding college. Though the college is not as old as other MBA colleges in Russia, the placement success of the college has changed the entire scenario. Courses offered by this college are Master in International business (full time /part time) and executive MBA.
  • 4
    Moscow International Higher Business School - MIRBIS - This college is one of the top 10 best management colleges in Russia. Indian students can only get admission here by appearing for TOEFL or IELTS. Master in International business, Master in Economics, Master in Finance are some of the courses offered by the college.
  • 5
    Moscow School of Management, SKOLKOVO - This is an innovative and world class business school. This school has a clear focus on the developing markets in the world and established international faculty. This college was founded by 18 top class international and Russian companies. MBA in Social Media, Executive MBA and MBA in international business are some of the famous courses here.
  • 6
    Vlerick Business School - This institution is famous in Russia for online and distance MBA programs as it provides only online and distance MBA courses. It offers courses like Master in Business Marketing, Economy, Finance, Accountancy etc. and thus it is famous in Russia in its category. Though it provides online courses, it provides placement support.

Top MBA Universities/Colleges in Russia (with Fee Structure)

Name of the Institute Fee for the Complete Course (approx.) Course Duration
St. Petersburg State University Rs.5.19 Lakhs 2 Years
Moscow State University Rs.4.6 Lakhs 2 Years
The Stockholm School of Economics Rs.37.20 Lakhs/Year 1.5 Years
Moscow International Higher Business School - MIRBIS Rs.2.88 Lakhs/Year Rs.1.50 Lakhs/Year (for part time MBA) 5 Years (FT) 2 Years (PT)
Moscow School of Management, SKOLKOVO Rs.4.80 Lakhs/Year 1.5 Years
Vlerick Business School Rs.5.68 Lakhs/Year 5 Years

MBA Course Duration in Russia

  • Like other MBA courses, dedicated 2 years are required for a full time course of MBA in Russia. The duration of the part time MBA program can be decided by the individual depending upon the time which he/she requires to complete the MBA degree.
  • Professionals can increase their skills and knowledge by opting a course of executive MBA in Russia which is of 18 months duration.

Eligibility Criteria to take MBA Admission

A student must fulfill following eligibility criteria in order to be able to take admission to a MBA degree course in Russia

  • A student must have completed a bachelor’s degree in any discipline.(That is, he/she must have completed 14 to 16 years of education.)
  • A student must be able to prove his or her proficiency in English language by giving English language proficiency tests like TOEFL or IELTS.
  • If students have not given TOEFL/IELTS tests then MBA colleges in Russia have an option of an English language interview. These interviews can also be arranged on Skype.

Scope of MBA in Russia

  • There are a large number of multinational companies in Russia. MBA Schools in Russia give equal importance to MBA graduates from Russian universities as other candidates from European universities.
  • The category of jobs which require extremely highly skilled professionals are often offered to foreigners. These jobs are at the management or senior management level.

Job Positions for MBA Students

After pursuing MBA in Russia, students get the following job positions at reputed companies.

Business Intern Project Leader
Manager Accountant
Area Sales Manager Field Marketing Manager
Product Manager Managing Consultant
Director Data Quality Analyst
Operations Manager Product Strategist
Program Manager Business Analyst
Digital Optimization Lead Senior Advisor
Chief Financial Officer Vice President

MBA - Career prospects

There is a high value for ‘Education in Russia’ across the world. There are various opportunities for students who study MBA in Russia. There is a very huge demand for MBA professionals in different sectors.

  • Students studying MBA in Russia, not only learn practical skills but also get a serious theoretical basis too. Persons working in the field of finance and professionals of international marketing are appointed for teaching business consultants and heads of different organizations. Thus, students can promptly adopt to any work conditions.
  • There are good career options for graduates with MBA in Russia in sectors like digital media, life sciences, management consulting, technology etc.
  • Russia has many companies such as Amazon, Facebook, Google, Apple, eBay etc. as Russia provides business friendly regulations and technological capabilities.
  • Students who study MBA in Russia, can get a work visa using which they can stay and work in the country for the duration of their student visa.
  • Students can also start their own company after doing an MBA in Russia. There are lots of opportunities for students to start their own company.

MBA Scholarships Programmes

Russia offers 3 types of scholarships for international students, those are:

  • Government Funded Russian Scholarships - To study in Russia, a set number of state scholarships are available for international students. It includes free tuition for the entire duration of the chosen programme, maintenance allowance, and dormitory accommodation. In 2018, 15,000 such spots for scholarships have been granted. The scholarship amount is 1,500 rubles per month (or Rs.1,665/month).
  • Non-government Russian Scholarships for international students -

    i) The school of Russian and Asian scholarships (SRAS)

    ii) Benjamin A. Gilman Scholarships

    iii) BP in Russia Research Scholarships

    iv) American Councils Scholarships

    v) Open Doors: Russian Scholarship Project

  • University-Specific Russian Scholarships for international students - These are the scholarships which are awarded by individual universities for excellent academic performances of the students. Some scholarships may provide stipend to students, while some may provide free tuition or accommodation to students, some scholarships can provide students all the three, that is, stipend, free tuition and free accommodation.
  • Some of such universities which provide scholarships are:

    i) Moscow institute of Physics and Technology (MIPT)

    ii) National Research University

    iii) Tomsk State University

    iv) Saint Petersburg Polytechnic University

    v) Russian International Olympic University

Salary of MBA Graduates in Russia

  • Salary of a MBA professional in Russia starts from Rs.12 Lakhs/Year.
  • With the knowledge and increasing number of years of experience it can go up to Rs.39-40 Lakhs/Year.
  • Compared to other European countries, salaries of MBA professional are much higher in Russia.
  • International students working in Russia can enjoy the luxurious lifestyle of Moscow and Saint Petersburg.

Russian Student Visa (MBA Program)

International applicants who want to study in Russia need a passport and a visa. Through the Russian embassy or Russian Consulate in the country of residence of a student, student visas can be obtained.

A student visa which is valid for 3 months will be issued first. Students should apply for visa extension after this period of 3 months. At the time of extending a student visa, students will get a 1 year extension. This extension will be every time when students extend their visa. This process should be carried out for the duration of their academic programme.

Documents Required for Students Visa to Russia

  • A copy of the front page of the international passport.
  • A copy of original official invitation letter from the concerned college or university for entry to Russia.
  • Visa application form.
  • A latest passport size photograph (3.5 x 4.5 cm).
  • Certificate of HIV with HIV negative status.
  • Parental consent to travel certified by a notary is required for applicants who are under 18 years of age.
  • A receipt or something as a proof of the payment of tuition fees.

About Russia

  • Russia is located across eastern Europe and Northern Asia. It is the largest country in the world with an area of 17098.242 thousand square kilometres.
  • ‘Moscow’ is the capital of Russia.
  • The two most important cultural and financial centers in Russia are Moscow and St. Petersburg.
  • Population of Russia is about 143.800 million people and it ranks seventh in terms of population.
  • Russian is the official language of Russia.
  • In Russia, mostly there are believers of Christianity. Old Believers and the Molokans are included in it. The second most common religion in Russia is Islam. Buddhism, Judaism and Protestantism are the other common religions on the territory of Russia.
  • ‘Ruble’ is the currency of Russia.

Transport Facilities in Russia

  • In Russian cities and towns, one can get around by bus, trolleybus, tram, metro and private taxi. In Moscow, St. Petersburg, Novosibirsk, Nizhny Novgorod, Kazan, Volgograd, Samara and Yekaterinburg there are underground systems of transport available.
  • Students who are studying any full time courses at Russian universities can get discounts on purchase of tickets on public transport.
  • Students in Russia can get a student travel card or student social card by using which monthly travel would cost a student 5 times less than a regular ticket.
  • Students can also get discounts on intercity travel using student card or student social card.

Accommodation Facilities For Students In Russia

While studying MBA in Russia, students can get 3 types of accommodation options which are a university’s hostel, a host family or a rental apartment. Students can find the best option as per their budget.

Most importantly, academic success of a student depends upon the choice of a place of a student where he/she would stay.

University Hostel (Dormitory)

  • It is the most affordable option from a student’s point of view. At most of the top business schools in Russia, these dormitories are located on the campus or not far from the university. A room is shared by 2 to 4 number of students.
  • A dormitory room typically consists of chairs, closets, beds and nightstands, bookshelves, writing desks etc.
  • Dormitories are well equipped where students can get access to shared kitchens, recreation rooms, gyms, laundromats and canteens.
  • The accommodation fee can vary in between 500 to 5,000 roubles per month depending on the selected university and the city where the university is located in. But it is much cheaper option compared to a rental apartment.
  • Students can make the payment on a monthly basis or termwise or they can make full payment in advance for the whole academic year.

Rental Apartment

  • If the university which is selected by a student does not have dormitory facility then he/she can look for a rental apartment or a room.
  • This option will be more expensive but students can get to stay at a location of their choice and they can also get a level of comfort.
  • The most expensive apartments in Russia are at Moscow and St. Petersburg. The rent of an apartment in a city depends upon the size of the city and its distance from the other major cities.

Host Families

  • Universities also help students in finding lodging options which includes finding host families.

Cost of Living in Russia

  • Depending on the region, university and discipline, the tuition fees at the top MBA colleges in Russia can vary from $1,900 - $11,000 (Rs.1.14 Lakhs/Year-Rs.6.60 Lakhs/Year).
  • Students would need to spend 500 to 35,000 roubles per month (Rs.1,000-35,000/month) on lodging, depending upon the region, location and type of lodging (such as dormitory, rented room or apartment or host family).
  • Students can go for a medical insurance policy which is optional and which costs $60-$180 per year (that is, Rs.3,600-Rs.10,800/Year).
  • The cost of a minimum shopping basket in Russia which contains bread, fish, pasta, meat, milk, sugar, fruit, vegetables etc. is 4209 roubles (Rs.4,672) for a month.
  • The cost for Moscow subway’s single journey is around 55 roubles (Rs.61.05), while 747 roubles (Rs.829.17) is the cost of a 20-journey travel card. Thus, for Indian students, MBA in Russia would cost an additional amount of Rs.3.60 Lakhs-Rs.4 Lakhs/Year as a cost of living in Russia.

Safety in Russia

  • Russia is not as dangerous as any other developed country. It is safe for students to live here. But everyone including students should not forget to take basic safety measures when away from home.
  • One should be alert about the possibility of theft, mugging or pickpocketing.
  • Stay alert at public places, in the crowd and in public transport.
  • You should not carry large amounts of cash with you when travelling.

Climate in Russia

Climate in Russia mostly depends on the region. It is a quite comfortable place to live in as most of Russia lies in moderate climate zone.

Summers in Russia are warm to hot and in some areas winters get very cold. In winters, temperatures can fall up to -30 degree celsius with heavy snowfalls. December, January and February are the winter months. Winters can be very cold almost everywhere in Russia. In early October, the first snow generally falls.

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