The Russian MBA League and the Superjob.ru Research Center have released a study showing which Russian business education programs provide their graduates with the largest salary increases and best career growth.
From March through June, the researchers surveyed 838 graduates of 49 Russian business schools. They also asked 500 employees in top management positions (both with and without MBA degrees) at large Russian companies about their salary expectations.
The Russian Presidential Academy of National Economy and Public Administration took first place in the study: Graduates increased their incomes by 70 percent on average within two years of finishing.
Slightly behind these graduates came the graduates of the IT-Management School of the Russian Presidential Academy of National Economy and Public Administration, with average income growth in the same period at 60 percent.
The International Management Institute St. Petersburg and the Institute of Business and Economics tied for third place. Graduates of these two schools had an average income growth of 55 percent.
According to the study's results, 39 percent of all graduates of Russian MBA programs climbed higher on the career ladder within two to five years after finishing business school.
Graduates of the Stanford Graduate School of Business, which took first place last year in a Financial Times ranking of business schools worldwide, increased their incomes by an average of only 29 percent within three years of finishing their degree. According to the Financial Times results, graduates of business schools in India, China and other developing countries enjoy salary growth similar to that found in Russia.
"The income growth seen by graduates of Russian MBA programs is connected not only to the quality of education, but also to the overall situation in developing markets, where careers as well as wages grow more quickly than in developed countries," Anders Liljenberg, dean of the Stockholm School of Economics in Russia, said about the study's results.
"When taking a job, having an MBA degree is considered an advantage only over other equally strong candidates, although for management positions an MBA is certainly useful," said Ulan Ilishkin, deputy director of Rosbank.
The other business schools in the top ten were the Moscow State University of Economics, Statistics and Informatics (50 percent average income increase), the Russian Presidential Academy of National Economy and Public Administration Graduate School of Corporate Management (45 percent average income increase), the Moscow International Higher Business School Mirbis (40 percent average income increase), the Financial University International School of Business (30 percent average income increase), the Graduate School of Management at St. Petersburg State University (30 percent average income increase) and the Russian Presidential Academy of National Economy and Public Administration Graduate School of Finance and Management (30 percent average income increase).