Report – Ukrainian MBAs

of business one leaves unattended for a year, so he himself could not go. Or could he?

MBA is a Western qualification, so the

most obvious direction for a Ukrainian student is out of the country. Some go to the USA, some to the UK, some to continental Europe. Programmes do not differ that much, top schools charge roughly the same everywhere, and there are bargains to be found for those who cannot afford London Business School fees. But even if money is not an issue, other considerations might stop a student from going abroad for a year or two.

The usual age of MBA students is 30

to 35 years old; they are required to have several years of work experience. At this age, Ukrainians often have families and/or businesses. For some, English language is an issue. But many still want the degree, and are choosing to study at home.

“There are some local MBA programmes,

but they are not really MBAs in the Western sense”, says Oded Lotan, a CEO of the new Kyiv branch of Edinburgh Business School, Heriot-Watt University. He tells me that his school offers Ukrainian students a cheaper, more convenient way to study, and praises the EBS’s online MBAs which came top in the Financial Times’ online MBA ranking this year. He does not agree that proliferation lessened the value of an MBA. For him, an MBA is not an elite degree; it is a qualification all managers need. In his opinion, a person can become a top manager regardless of whether they studied in LSE, Manchester University or their own school, EBS, in Kyiv.

Oded Lotan, originally from Israel, came to

Ukraine only recently, but is very enthusiastic about the school’s programme and the local business stars they asked to teach at the school. He shows me some new textbooks and an e-reader loaded with information. There is an option to study in English, but most students choose Russian.

Unusually for competitors, EBS and Kyiv

Mohyla Business School, which also offers MBAs, cooperate in ‘educating the market about MBAs’; Mr Lotan even ventures as far as to admit that KMBA gives its students a good understanding of Ukrainian business issues. EBS in Kyiv aims to position itself as the only British MBA available in Ukraine. British education is considered prestigious in post-Soviet countries. But will his school - which charges about $20,000 for a complete

Edinburgh Business School

course - become the first point of call for Ukrainian professionals who don’t want to leave the country? The school just opened, so it is hard to tell. So far, there are 37 MBA students at EBS in Kyiv; their first graduation is in September next year. But Oded Lotan says that the Ukrainian market is very attractive - unlike some other countries in the region where it might be difficult for a Western school to operate. And Ukrainians still value good education. All the recent scandals involving government officials faking university diplomas prove: it does count.

So while some are putting their trust in

relatively recently established Ukrainian schools, many go abroad.

“There is nothing particularly Ukrainian

about getting an MBA from a Western institution”, says one UK student who does not want me to even mention his name. “These days, nobody cares where you are from. You have to pay the same fee, and largely get the same career opportunities as everybody else, and most companies will help you with visas if need be. Of course, it is a general statement, and some discrimination will occur - life is life - but whether you are Ukrainian or not matters very little”.

“What matters more is what school you go to

”

What this student - who also teaches

a technical subject in one of the UK universities - probably means is “it matters very little if you want to pursue an international career”. What matters more is what school you go to. Some say that MBA

rankings, like those of the Financial Times, become a self-fulfilling prophesy: the higher the rank of the school, the better students it attracts. So since networking is a huge part of the deal, a student will be getting more for their money - of which he or she will be paying a great deal. An MBA from LBS costs about £50,000 in tuition fees alone. There are hardly any scholarships from Ukrainian institutions, although there are some available to Ukrainians abroad.

Some say that for those who plan to

work in international consultancies or banks specialising in Eastern Europe, to come from the region can even be an advantage. But what if a Ukrainian student with a freshly awarded MBA wants to go back home? Would an MBA significantly increase his or her chances of employment and their earnings, and is an MBA from a top school any different from the same degree from a lesser-known institution? “I can hardly remember any University

of Chicago graduate, except for me, who returned to Ukraine”, says Kostyantyn Magaletsky. He received an offer to work in a Western investment fund in Ukraine after an internship done during an MBA, but he admits that his is an unusual choice. Most Ukrainians he knows stayed in the West. “There are great, once-in-a-lifetime buying opportunities in Ukraine, and it’s great for me to be a part of it. I meet CEOs and owners of big companies very often, sometimes oligarchs. In the West, opportunities like this are very rare, especially for a graduate who comes from emerging markets”.

But would his MBA help if he applied for a job in a Ukrainian company? Hard to tell, he

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