Applicant Survey
UKRAINE
top ten nations in terms of current salaries, a fact Ukrainians believe that they will receive viable way of funding their MBA programs. The
that cannot be escaped when considering a place company sponsorship to do an MBA - the European average is 40%.
to live and study. European average is 4% and in Greece almost Konstantin attends the Chicago Graduate
The table itself isn’t evidence that 7% of MBA candidates believe their companies School of Business, one of the world’s top MBA
Ukrainians studying abroad are going to stay will help them out with financing their course. courses, and was the recipient of a $40,000
abroad (38% admitted that they would like to As company sponsorships are usually tied in with scholarship to do so, a fact that made his business
work in the host country after graduating). a contractual obligation of up to three years dreams possible. He believes that MBAs are
However we also know that a significant (although, in fact, EU legislation caps this at valuable in Ukraine but that the business
proportion of those studying overseas will three months) this would also suggest that community hasn’t yet taken them to heart, and
attempt to remain overseas for at least one or two Ukrainians are not getting company supports the suggestion that Ukrainians are
years after graduating from business school, even sponsorship and so are not tied to their looking overseas for salary and experience: “The
those who had not necessarily intended to do so companies; hence they are looking overseas awareness of the value of an MBA is rather low
when they started the course. for work. among the business community in Ukraine,” he
This is in part to says. “There is not
absorb the culture and enough understanding
the language of the
“In this time of financial uncertainty, with the credit crunch making itself felt
of the kind of education
host country, to gain and experience top MBA
great experience of an in the finance houses of the US and Western Europe, it is encouraging that programs give to their
industry, perhaps
there are parts of the world remaining buoyant.”
graduates. But from the
before bringing those other side, demand for
honed skills home and MBA graduates is much
– here’s the clincher - higher than the supply
to increase the graduate’s salary. After all, an To finance an MBA by oneself is a heavy in Ukraine. I wanted to study overseas because I
MBA is an expensive undertaking and the return burden and scholarships are readily available for wanted to get a brand new experience from
on investment and payback period for a most MBA courses. Despite this, millions of studying and living in a foreign country in a very
Ukrainian living and working in New York will dollars of scholarships are unclaimed every year. diversified student community. That’s one of the
usually be greater than if they returned to Kiev However, Ukrainian students, perhaps following biggest challenges that I can face in my life and I
immediately after their course ends. on from the recent and high-profile success of am eager to take it.”
compatriot Konstantin Magalestkyi, seem more
Financing MBAs than aware of scholarship opportunities. No
Financing an MBA course is another area where fewer than 53% of Ukrainians, the 13th highest
Ukrainian statistics are interesting. Only 1.6% of internationally, believe that scholarships are a
TopMBA CAreer Guide
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