At which extent is the MBA market influenced by financial crisis

“In the developed countries, schools that provide MBA classes are more demanded since the financial crisis broke out, because employees want on one hand to be educationally prepared to cope with personnel downsize, and on the other hand to understand the market’s mechanism and to have the required information to overcome the effects of the crisis in the companies where they work,” said Pascale Baudemont, head of MBA admission at University of Reims, France, NewsIn informs.

In Romania – which is still young in this matter, there cannot be influences on the MBA demand fuelled by current economic events. “For the moment, the Romanian MBA market is at the beginning, and the world’s economic crisis did not yet have any major effect on the demand for this kind of programs in Romania,” said Oliver Olson, MBA program director of CEU Business School in Romania.

For managers with over five years work experience who lead their own business, the new intensive master degree program proposed by business universities around the world - Executive MBA – is the ideal solution.

During the world MBA Tour fair that took place last week at Bucharest, universities such as CEU Business School, Duke University, Thunderbird University or Leuvent Gent have presented apart from the classic full-time MBA programs also EMBA intensive part-time programs, targeting persons engaged in 10-12 hours work per week.

If the full time MBA programs are designed to young university graduates with or without any previous work experience, EMBA programs are designed mostly to managers aged 30-35, with solid experience in business field.

Master courses run within an intensive programs in weekends, therefore the applicants will have the possibility to put into practice their knowledge achieved in real time, in their own business.

“The greatest challenge of teaching business is that of becoming more and more applied. The theory is the background but you have to take that theory and to apply it in the real world”, said Oliver Olson, Country Director Romania of CEU Business School.

Most of the teachers come from the business landscape and have academic or business connections with European continent in order to ensure a strong anchorage in the Europe’s realities.

CEU Business School, opened in Romania in 2006, will launch Transnational MBA, a two-year program set for Central and Eastern Europe. According to Olson, one of the advantages is the flexibility of the timetable, saying that the program is running simultaneously, with same teachers in different countries.
“If one of the applicants is student in Romania but has business in Budapest for example, then he can attend the classes in Budapest, as he would receive the same information in both locations,” Olson added. The flexibility of the programs allows foreign experience exchange between CEU students and other universities such as UCLA Los Angeles, UC Berkely, and Emery in USA or Copenhagen Business School or Birmingham in Europe.

Admission requirements in this type of MBAs are not easy to fulfill. Most of the applicants have at least ten years work experience, good scores in GMAT and Toefl and 30,000 euros in account. The tuition for the courses varies according to the country, number of hours and amount of the sponsorship received by universities.

Costs of CEU Business School amount to 21,000 euros for 2009 while SDA Buconni charges a 29.800 tuition and TU Wien, 28,000 euros. If the university is not in the applicant’s country of residence, other costs will be added such as road, rent and cost of utilities, and materials for study, raising the overall cost to approximately 50,000 euros per year.

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