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MBA training grants. MBA scholarships in Switzerland

A significant proportion of students abroad study at business schools for free - with grants from companies, investors or the state. In Russian business schools, sponsorship programs are just emerging.

An entrepreneur from St. Petersburg, Sergei Stepanov, decided to get an MBA degree a year ago. At that time, Stepanov, who had a small company in the IT field, decided that he had reached the ceiling in business and now he needed to “pump up” himself, and at the same time acquire useful connections in the business environment. Choosing between specialized Russian and foreign programs, Sergey chose the latter. There was an opportunity to study for free. In addition to an internationally renowned educational brand, a foreign business school provided the opportunity to receive education under special grant programs.

Almost every European or American business school offers applicants scholarships and grants that fully or partially cover the cost of training, and in some cases also living expenses. Schools participating in The Financial Times top 20 rating have more than a hundred programs, financial support for which varies from $5 thousand to $30 thousand per year. Students can receive grants for talents and abilities (merit-based) or due to financial need (needs-based). A wide range of opportunities is open to socially vulnerable segments of the population and all kinds of minorities, special scholarships are issued on the basis of gender and nationality (for example, grants for people from third world countries or countries with developing economies).

About 60% of business school students in the world, according to the rector of the Moscow School of Management Skolkovo Marat Atnashev, receive financial support. For example, at Harvard College, 55% of all students, including the business school, attend college on a college scholarship. Most often, sponsors of preferential education are big business, private investors (successful entrepreneurs and graduates of educational institutions), as well as educational institutions themselves.

“Western business schools do not skimp on grants, because for them such programs are another full-fledged sales channel. The education of “free” students is usually paid for by sponsors: large companies, private investors or the state,” comments Andrey Kolyada, rector of the EMAS business school.

Russian sponsors are just learning

The cost of training in Russian business schools starts from 360 thousand rubles, but for most programs you will have to pay at least 500-700 thousand rubles. Joint educational projects international schools will cost even more, especially after the collapse of the ruble.

At the same time, Russian business education cannot boast of a large number of sponsors. Corporations prefer to train employees in corporate universities. Successful entrepreneurs, potentially ready to support young talents, can be counted on one hand. And the government doesn’t seem to see much value in sponsoring MBA programs. Reasons for the lag Russian segment there is a lot of business education from the global trend: here is immaturity domestic business, unformed culture of nurturing and supporting talents, economic crisis.

“Differences with the West are rooted in fundamentally different approaches to charity as an element of civil society. The fate of the Russian “Dynasty” with its grants and scholarships is well known to everyone (Dmitry Zimin’s family social investment fund was included in the list in 2015 foreign agents and stopped his work. — RBC+),” complains Sergei Filonovich, dean High school management of the National Research University Higher School of Economics.

Litsia Tsarenko is one of 20 Moscow entrepreneurs whose studies under the joint MBA program of RANEPA and Kingston University London in 2014-2016 were sponsored by the Department of Science, Industrial Policy and Entrepreneurship of the city of Moscow. The grant amount covered 70% of the cost of the program, which included two on-site internships in the UK and Singapore. “I received a grant from the Moscow government easily: I submitted documents and passed an interview. The program turned out to be extremely useful, it helped me improve my knowledge in the field international business and reach a new personal and professional level,” recalls Tsarenko. However, this government initiative was not continued.

However, training opportunities under grant programs for Russian market There is. One of such programs is the MBA from Kingston University London and RANEPA with a grant of £1,500, funded by an English university. Another example of educational charity in Russia is the program of the Moscow School of Management Skolkovo, sponsored by the school’s partners, including the founder of Wimm-Bill-Dann David Yakobashvili, the head of the board of directors of Sibur Leonid Mikhelson, as well as NOVATEK, “ M.Video", International Paper and B&N Bank. The amount of grants is up to €30 thousand.

“We strive to contribute to the formation of future business leaders in Russia, to changing the investment climate, and to supporting the sustainable nature of business,” says Keith Townsend, President of International Paper Russia, which has supported the Skolkovo School of Management grant program since 2012.

During the existence of the program, the school received about 2,000 applications and more than 50 grants were awarded, says Marat Atnashev.

“At first I filled out a detailed questionnaire with work experience, hobbies, achievements, motivation letter, then there were serious tests, in which we had to decide various tasks. Then test by English language knowledge of grammar, listening, reading and speaking. The final stage is an interview with the founders of the school,” recalls the stages of admission, the owner of the Studcloud.ru company, Vera Pronkina, who received an educational grant in 2016.

Cumulative effect

“The grant program is an opportunity to improve the quality of the MBA group, saturate it with talented people, which will ultimately have a positive impact on the level of education and the image of the school,” says Andrey Kolyada. However, according to him, in Russia most schools pay for grants from own money, hence their small number. Not all business schools can afford this, especially during a crisis. Starting this year, EMAS Business School also launched a grant program. The amount of financial support is 50% of the cost of training for the ExecutiveMBA, or a little more than 360 thousand rubles.

Most industry experts see the emergence of such programs as a good sign. Moreover, many Russian large companies and foreign players have already joined the development of this trend.

“Grants are not charity, but social investment, the effect of which we will be able to see in five, ten, twenty years. Business leaders’ support for grant programs is an indicator of their willingness to invest in the creation of the future business elite and the development of the Russian economy,” notes Marat Atnashev.

Russian business will become stronger and will move from solving short-term problems to long-term ones strategic planning, an integral part of which will be investments in human capital, the rector of EMAS is sure. “For now, macroeconomic conditions leave no other choice. Therefore, the process when business starts financing grants - companies will begin to systematically attract talent, either directly through targeted grants, or through promoting the company as a grant provider - is a matter of the near future,” says Andrey Kolyada.

Next up is information for applicants planning to get an MBA in Russia: about grants, scholarships, discounts and educational loans.

General trends

There are two ways to save on tuition.

The first is to receive a scholarship, grant, allowance.
The second is to use employer funds and student loans.

Both the first and second financing options in Russia, as well as in the CIS market, are poorly developed. Generally accepted global trends (compensation for the cost of MBA education for talented and low-income students) are just beginning to appear in Russia, and then in minimal quantities.

Most schools pay for grants and scholarships with their own money, so such offers are few. Sometimes scholarship fund is formed through monetary contributions from investors and sponsors, donations from alumni, and proceeds from international foundations.

Many business schools don't even try to create or offer scholarships, but simply offer tuition discounts to applicants. The size of the discounts is not comparable to the amount of the grant or scholarship, but it is a clear signal that the business school is ready to support and invest in promising students.

Discounts on training

There are two types of discounts provided by schools - corporate and individual.

The first option is provided for corporate contracts, when, for example, 5-10 or more company employees enroll in an MBA program at once.
Individual discounts are provided for those who have previously received a bachelor's or specialist's degree in a specific educational institution upon a one-time payment of the full cost of training, upon preliminary execution of an agreement. You can get a discount based on recommendations; there are also regional discounts (for students living and working in the regions of the Russian Federation). In general, discounts help reduce tuition costs by 5-25%. Discounts on distance learning programs can reach even 70%.

Discounts are offered both at top Russian business schools and at lesser-known educational institutions.

The Integral Business School is ready to reduce the cost of MBA education by 25% for people with higher education in management or economics.
The State University Graduate School of Business gives a 15% discount for a one-time payment of the cost of the MBA program.
Moscow Business School pricing offers a flexible system of discounts for corporate clients: from 5% to 20% depending on the number of listeners.
AIBEc provides partial funding for students. The decision on this, as well as the amount of compensation, is made on an individual basis.
IBDA RANEPA offers a whole scattering of discounts: to those applying on the recommendation of an IBDA graduate (5%), to students from the Ural, Siberian, Far Eastern districts and Kazakhstan (5%), subject to full payment for the program (20%). Legal entities who send at least two employees for training can receive a discount in the range of 5-10%.
A systematic approach to discounts is also used at the MIRBIS business school. They have a reduction in tuition fees for students not from Moscow and the Moscow region, corporate discounts (up to 20%), discounts for MIRBIS graduates (up to 15%), discounts for one-time payment (10%) and for applicants with minor children (5% ). The school also reduces the cost of study for students with an economic or management education and graduates of the Presidential Program.

“The range of discounts for business school students is the most best option“- says Fedor Fedorov, Director of Marketing and Development at MIRBIS Business School.

“We talk about the MBA program as educational service; In my opinion, “Black Fridays” and “sales” are still not very applicable, because... are more suitable for goods sold in retail networks and online stores. MIRBIS carefully monitors client requests, which, as a rule, creates a range of discounts. But this does not exclude special promotions. For example, on the occasion of the 30th anniversary of the MIRBIS Business School, we launched the “Bring a Friend” campaign, and for those applying for an MBA in the fall – a “Hot Summer” discount. It is possible that we will also offer non-price bonuses for those applying for an MBA.”

Grants and scholarships

The mechanism for financing MBAs using scholarships is poorly developed on the Russian market. But grants are much more developed.

In July 2018, RANEPA announced the second wave of grants for MBA and EMBA programs jointly with Kingston University London. The grants are designed for two-year MBA and EMBA programs for 2018-2020. in the amount of £1500 and £3000 respectively. Submit documents and pass entrance tests It was needed by August 20th. As a result, in 2018 the business school issued four grants: two for £1,500 and two for £3,000.
The Moscow School of Management Skolkovo annually holds a grant competition in the amount of €15,000 to €60,000. In 2018, applications were accepted until September 7. The selection of candidates takes place in three stages. First, a package of documents and an essay is prepared, and the Talent Q test (analogous to the GMAT) is taken. The second stage is an interview with a representative of the school, the third is the defense of the author’s project and the public solution of the business case. .
EMAS Business School presents 10 grants of $1,500 each for the International Executive MBA program. You can choose full-time or part-time study; the school additionally pays for travel and accommodation in Moscow for nonresident students.
From time to time, a grant competition is held by the Stockholm School of Economics in Russia. Thus, in the fall of 2017, Executive MBA General Management programs in English and Russian were funded. The school covered up to 75% of the cost of tuition. Grant competition for 2018-2019 academic year not announced yet.

Education loans

Russian business schools, as a rule, do not promote their own loan programs and rarely cooperate with credit organizations. Therefore, you will have to apply for an educational loan directly to the bank and without the mediation of the school.

Loan terms depend on the size of the loan, curriculum, work experience and income. Almost all banks offer preferential lending conditions, when during their studies the student pays only interest on the amount disbursed. The loan balance is paid upon completion of the MBA program. Loan rates are higher compared to North America or Europe: 7.5-20% in Russia versus 3-7% in Western Europe and the USA. Loans are designed for 5-15 years.

Post Bank offers the “Knowledge is Power” loan program, under which you can receive 400 thousand rubles. for 8.5 years at 14.9% per annum.
At Citibank you can get an education loan in the amount of 1 million rubles. on maximum term 5 years. Interest rate – from 12.9% to 20%.
Zapsibcombank offers an educational loan that will cover up to 80% of the cost of training. Loan term – up to 5 years, annual interest rate – 11.5%.
Until recently, Sberbank provided educational loans with state support at 7.5% per annum. The loan covered the full cost of training, and the loan term was equal to the period of study + 10 years. On this moment the program is temporarily suspended.

The package of documents required to obtain an education loan varies depending on financial institution. It is necessary to provide a passport of a citizen of the Russian Federation, a 2-NDFL certificate, and an agreement with an educational institution. If the loan is secured by property (real estate, car), then documents are needed confirming the ownership of such property. Some banks require a life and health insurance contract.

Harvard University's MBA program is one of the most prestigious academic programs in the world. The Boustany Foundation offers students a scholarship to study this program. The scholarship is awarded on a competitive basis only to the best students. Recruitment for scholarships is carried out once every 2 years. The program lasts 2 years.

The organizers are offering a scholarship of $90,000 ($45,000 per year). This amount is enough to pay for the MBA program, travel expenses and accommodation during the internship.

The scholarship is available to students who will begin their studies in the program in the fall of 2017.

Requirements for candidates

The scholarship is available to candidates who:

are promising students with excellent academic performance;
enrolled in an MBA program and have confirmation of enrollment in the program;
Applications are accepted from candidates of any nationality, but priority is given to candidates of Lebanese origin.

To receive a scholarship you must send the following documents:

copy of CV with photo;
GMAT test results;
and a letter confirming the candidate's acceptance into the MBA program at Harvard University.

Successful candidates will be invited for an interview.

In June, the best candidate will receive a scholarship!

Also, scholarship holders will be required to undergo an unpaid internship for 2 months at the Boustany Foundation. The organizers cover travel expenses and accommodation during the internship.

About 60% of business school students in the world, according to the rector of the Moscow School of Management Skolkovo Marat Atnashev, receive financial support. For example, at Harvard College, 55% of all students, including the business school, attend college on a college scholarship. Most often, the sponsors of preferential education are large businesses, private investors (successful entrepreneurs and graduates of educational institutions), as well as educational institutions themselves.

Russian sponsors are just learning

The cost of training in Russian business schools starts from 360 thousand rubles, but for most programs you will have to pay at least 500-700 thousand rubles. Joint educational projects with international schools will cost even more, especially after the collapse of the ruble.

At the same time, Russian business education cannot boast of a large number of sponsors. Corporations prefer to train employees at corporate universities. Successful entrepreneurs who are potentially ready to support young talents can be counted on one hand. And the government doesn’t seem to see much value in sponsoring MBA programs. There are many reasons why the Russian segment of business education lags behind the global trend: the immaturity of domestic business, an undeveloped culture of nurturing and supporting talent, and the economic crisis.

“Differences with the West are rooted in fundamentally different approaches to charity as an element of civil society. The fate of the Russian “Dynasty” with its grants and scholarships is well known to everyone (Dmitry Zimin’s family social investment fund was included in the list of foreign agents in 2015 and ceased its work. - RBC+),” laments Sergei Filonovich, dean of the Higher School of Management of the National Research University HSE.

Litsia Tsarenko is one of 20 Moscow entrepreneurs whose studies under the joint MBA program of RANEPA and Kingston University London in 2014-2016 were sponsored by the Department of Science, Industrial Policy and Entrepreneurship of the city of Moscow. The grant amount covered 70% of the cost of the program, which included two on-site internships in the UK and Singapore. “I received a grant from the Moscow government easily: I submitted documents and passed an interview. The program turned out to be extremely useful, it helped me improve my knowledge in the field of international business and reach a new personal and professional level,” recalls Tsarenko. However, this government initiative was not continued.

Nevertheless, there are opportunities for training under grant programs in the Russian market. One of such programs is the MBA from Kingston University London and RANEPA with a grant of £1,500, funded by an English university. Another example of educational charity in Russia is the program of the Moscow School of Management Skolkovo, sponsored by the school’s partners, including the founder of Wimm-Bill-Dann David Yakobashvili, the head of the board of directors of Sibur Leonid Mikhelson, as well as NOVATEK, “ M.Video", International Paper and B&N Bank. The amount of grants is up to €30 thousand.

During the existence of the program, the school received about 2,000 applications and more than 50 grants were awarded, says Marat Atnashev.

“At first I filled out a detailed questionnaire with work experience, hobbies, achievements, a motivation letter, then there were serious tests in which I had to solve various problems. Then an English test for grammar, listening, reading and speaking. The final stage is an interview with the founders of the school,” recalls the stages of admission, the owner of the Studcloud.ru company, Vera Pronkina, who received an educational grant in 2016.

Cumulative effect

“The grant program is an opportunity to improve the quality of the MBA group, saturate it with talented people, which will ultimately have a positive impact on the level of education and the image of the school,” says Andrey Kolyada. However, according to him, in Russia most schools pay for grants from their own money, which is why their number is so small. Not all business schools can afford this, especially during a crisis. Starting this year, EMAS Business School also launched a grant program. The amount of financial support is 50% of the cost of training for the ExecutiveMBA, or a little more than 360 thousand rubles.

Most industry experts see the emergence of such programs as a good sign. Moreover, many Russian large companies and foreign players have already joined the development of this trend.

“Grants are not charity, but social investments, the effect of which we will be able to see in five, ten, twenty years. Business leaders’ support for grant programs is an indicator of their willingness to invest in the creation of the future business elite and the development of the Russian economy,” notes Marat Atnashev.

Russian business will become stronger and will move from solving immediate problems to long-term strategic planning, an integral part of which will be investments in human capital, the rector of EMAS is confident. “For now, macroeconomic conditions leave no other choice. Therefore, the process when business starts financing grants - companies will begin to systematically attract talent, either directly through targeted grants, or through promoting the company as a grant provider - is a matter of the near future,” says Andrey Kolyada.

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First, let's figure out what an MBA is and who can get this education.

master business administration(MBA) is an international educational program for people who work in management and business. Upon completion of this type of school, a person is awarded a qualification degree, which makes it possible to find a job in European and American government bodies or continue working in his own country, but at a new level.

Free MBA qualification

MBA business schools operate in almost every developed country peace. Studying there is not a cheap pleasure, which is why many specialized educational institutions hold competitions that give the most gifted applicants the opportunity to obtain an MBA qualification for free.

As a rule, the scholarship is awarded for a person’s talent in the field of management, since the main task MBA training – improving the existing practical skills of a young specialist.

The main selection criteria are not only a diploma with good grades, but also experience in management and strong motivation of the candidate.

It is worth noting that MBA training can be completed remotely, without leaving your country, on the basis of an online platform. This opens up enormous prospects for all categories of managers, since it does not require financial security.

To take part in the MBA scholarship program, a young manager needs to find a good option for yourself among hundreds of offers. As a rule, the terms of the grants indicate information for whom they are intended: for graduates or those already working, top managers or entry-level managers, etc.

In this case, the financing of your MBA education falls on the shoulders of sponsors, who are often banks, the schools themselves, or leading business companies.

Where to study MBA for free

To obtain an MBA qualification for free (i.e., on a scholarship or grant), most often the candidate will need to write a short essay of 500 words in length to convince the commission that your business idea is thought out and needed by humanity.

Specialized schools that train MBA specialists annually hold such competitions in order to identify the best students and help people with financial difficulties rise in the career ladder and attract foreign management specialists to your country.

Chicago Booth

Chicago Booth is one of the largest and most prestigious schools that specializes in business education. All scholarships are awarded to program participants based on the following criteria:

personal achievements of the candidate;
interview results;
competitiveness;
experience in business and management;
the candidate's goals and ideas.

Chicago Booth Merit-Award Scholarship

Each year, the Chicago Booth committee awards scholarships to the best candidates based on a competitive selection process. The committee identifies students who have excelled academically, have work experience and are well motivated.

George Stigler Scholarship

This scholarship is named after the recipient Nobel Prize in Economic Sciences. George Stigler was one of the great economists of the 20th century. Therefore, financial support is given to graduate students who have achieved success in areas where Stigler's work was significant, such as business, law or economics.

These scholarships are awarded to students who demonstrate outstanding leadership, academic and extracurricular achievements.

Find out more about all Chicago Booth MBA grants on the business school’s official website.

INSEAD

INSEAD is a famous French business school that every respected businessman has heard of, because it is here that you can get the desired MBA qualification.

INSEAD scholarships are the most sought after source financial assistance among students of the educational institution. They are limited in number, so the best of the best compete for each award.

INSEAD International Student Scholarship (IAF)

Scholarship amount – €13,000

This is a scholarship from the Alumni Foundation designed to support diversity in the program's nationality, race, religion, and gender diversity. The advantage of becoming a scholarship holder is for candidates from developing countries of the world.

INSEAD Forte Foundation Fellowship

Scholarship amount € 10,000-15,000

This is one of the scholarships that is awarded exclusively to women. Her goal is to attract as many women as possible into business.

Forte candidates must demonstrate leadership skills in training, in leadership, in organizing teams and working on projects.

More scholarships from INSEAD business school.

London Business School is ranked in the top three best business schools peace. Professional speakers and teachers reveal business secrets to their students. Thanks to scholarship offers, absolutely any aspiring businessman can become her student.

First of all, graduates or young managers who want to receive a qualifying MBA degree for free should choose a country in which they would like to receive an education and possibly stay. It's also a good idea to inquire about food and living expenses in that country, as not all scholarships and grants cover them.

Having decided on the state, start studying information about grants and scholarships for MBA. It is usually posted on official websites educational institutions, offering MBA training, in the “Scholarships” section or on third-party sites offering aggregated data for all countries, like a site.

Since there are a huge number of offers to study business in the MBA program free of charge for graduates and young managers, it makes sense to compete for their place in a business school even for those who do not really believe in their victory.