11 Martie 2009
Top expensive MBA programs in Romania
Administrators of MBA programs have reassessed their curriculum due to wrenching financial crisis engulfing the entire world. Wall-Street compiled a top of most expensive MBA programs in Romania, some of them already starting to address more rigorously to key areas in risk management and leadership amid shaky economic grounds.
WU Executive Academy MBA
Duration: 14 months, part-time
Number of participants: 27 candidates of 150 graduated in 2008
Profile of the MBA student
Median age: between 32 and 35
Employment history: between 9 and 11 years
Enrollment statistics. Women/men ratio: 36%/64%
Additional entry requirements: In case the student does not have a bachelor degree from other universities, one of the entry requirement is for the applicant to pass GMAT. English proficiency tests are not necessary, but as the representative of WU Vienna, Sabine Zellenberg notes, knowing English language is a mandatory condition for admission.
Academic staff: the majority of the academic staff is made up of professors from Harvard, Thunderbird or Carlson School.
Financial crisis-related courses: WU Vienna had added to its curriculum courses on business environment in unfavorable economic conditions, before the crisis started.
Average monthly pay of an MBA holder: 2,200 euros
CEU Business School Trans-national MBA
Duration: 15 months
Number of participants: 30 students, only half of the candidates are admitted
Profile of the MBA student
Median age: 32. According to Dora Surugiu, senior program manager CEU Business School Romania, the median age of the students varies between 25 and 40.
Employment history: 10-11 years. “The minimum work experience is 4 years, but we do have candidates with over 20 employment history”, said Surugiu.
Enrollment statistics. Women/men ratio: 50% - 50% in 2008
Additional entry requirements: pass of GMAT test (Graduate Management Admission Test) and of English proficiency tests, TOEFL, IELTS or Cambridge.
Successful completion: N/A
Academic staff: There are 22 professors working full-time at CEU Business School adding same number of Adjunct Teachers, practitioners that in everyday life have another job. As for the number of foreign teachers, Surugiu says over 80% of the academic staff is from another country. “The difference is given by those professors who were born and spent their childhood or went to school in Romania, but who built their careers and established abroad. We have only two professors from Romania”, she added.
Financial crisis-related courses: CEU Business School offers courses related to financial crisis since past years. In order to teach our students on the gaps, drawbacks as well as solutions to operate on international markets, the university has added this year the program Trans-national MBA.
ASEBUSS Executive MBA
Duration: 2 years, once a week, alternatively on Fridays and Saturdays. Language: English
Number of participants: 75-80 of 90 candidates signed up for admission
Profile of the MBA student
Median age: 34
Employment history: 10 years
Enrollment statistics. Women/men ratio: 40-60%. “If at the beginning of program, in 1993, the percentage of women students accounted for roughly 25% of overall MBA participants, the number has risen to 30%, and in the latter series, to as much as 40%. Students and graduates of Romanian-American program of Executive MBA are both economists (50%) and engineers (25%), as well as doctors (14%), lawyers and other professions”, said Bianca Ioan, Director Marketing Program Executive MBA ASEBUSS.
Additional entry requirement: A minimum score of 50 points of 100 at GMAT test.
Graduation: 90-95%
Academic staff: The academic staff comprises 18 professors, 50% of which are Americans. The Bucharest courses are ran by Romanian professors, and American professors teach courses that are held in Atlanta.
Financial crisis-related courses: Since November 2008, the university has reassessed its curriculum, adding new courses and information related to recent economic events. “We are examining the possibility of introducing new case studies in understanding this stage. We occasionally have businessmen as guests who bring their own expertise”, Bianca Ioan added.
Average monthly pay of an MBA holder: According to ASEBUSS stats, the increase of pay package after MBA graduation hovers around 50 and 200%.
Executive MBA CITY University of Sheffield
Duration: 2 years
Number of participants: 70 students of 100 applicants in 2008
Profile of the MBA student
Median age: 32
Employment history: 8 years
Enrollment statistics. Women/men ratio: 40% - 60%
Additional entry requirements: GMAT or Toefl test is not mandatory but is required to go through a university examination.
Successful completion: 80%
Academic staff: For the MBA program, professors who teach at the City University of Sheffield come from Greece, USA, and UK.
Financial crisis-related courses: According to Alina Vasile, Country Manager ITY University of Sheffield, the institution has recently introduced new information related to economic crisis.
Average monthly pay of an MBA holder: 3,000 euros.
MBA Open University Business School (OUBS)
Duration: Minimum 2 years and a half, which can be extended. Due to the modular characteristics of the program, the student can choose to complete it within a longer time framework, according to Rodica Radulescu, director at Business School CODECS.
Number of participants: 220-250
Profile of the MBA student
Median Age: 35
Employment history: 10 years with 3-year experience in a management position.
Enrollment statistics. Women/men ratio: 45%-55%
Additional entry requirements: promotion of IELTS or TOEFL English proficiency tests
Successful completion: over 80% for Professional MBA Diploma in Management and for “Fundamentals of Senior Management”. The graduation falls short of 80%for strategic management courses in the second stage of MBA program, according to Business School CODECS director.
Academic staff: 20-25 foreign professors are allocated from Open University Business School for the MBA program.
Financial crisis-related courses: CODECS has already introduced in its curriculum courses such as “Strategy”, “Financial strategy”, “Marketing in a complex world”, designed to offer an accurate insight on economic failure and to train the required abilities that would help them overcome the tough economic conditions.
Average monthly pay of an MBA holder: 2,000 – 5,000 euros.
Bucharest School of Management
Duration: 2 years
Number of participants: 40-60
Profile of the MBA student
Median age: 33-34
Employment history: 5-8 years. Most of the applicants come from financial, banking FMCG and IT fields.
Enrollment statistics. Women/men ratio: 40% - 60%.
Additional entry requirements: pass of GMAT test
Successful completion: 80-85%
Academic staff: The courses are taught by Romanian and foreign professors, with 7 courses taught by Candian instructors. According to the representatives of the university, the number of foreign professors will increase by 15% starting with 2010.
Financial crisis-related courses: Representatives of Bucharest School of Management say that relevant information was already included in the classic courses, but starting 2010, the focus will be shifted on this issue more thoroughly.
MBA City University of Seattle
Duration: 18 months
Number of participants: 40-60
Profile of the MBA student
Median age: 32
Employment history: 10 years
Enrollment statistics. Women/men ratio: 60% - 40%. “If at the beginning of program, in 1993, the percentage of women students accounted for roughly 25% of overall MBA participants, the number has risen to 30%, and in the latter series, to as much as 40%. Students and graduates of Romanian-American program of Executive MBA are both economists (50%) and engineers (25%), as well as doctors (14%), lawyers and other professions”, said Bianca Ioan, Director Marketing Program Executive MBA ASEBUSS.
Additional entry requirements: promotion of ACCUPLACER test or TOEFL English test
Successful completion: 80% according to Gabriela Hartescu, deputy director at IntercollegeIBS Romania.
Academic staff: Courses are taught by 10 foreign professors, the remaining being Romanian.
Financial crisis-related courses: The curriculum is the approved and accredited one at CityU by the competent US authorities. “Every professor in its lecture classes refers to current economic crisis and analyzes study cases related to global economic realities”, Hartescu added.
Average monthly pay of an MBA holder: 2,500 euros.