Even after choosing a job, you can rest assured that if you have determination and willpower, you will still have a chance to return to education, be it a second degree or an MBA program. But this is only if you are sure that at 25-30 you will have the courage to pick up textbooks again, spend about a year on preparation and sitting for the specialized GMAT exam, drop everything and immerse yourself in grueling studies for two years, paying a considerable sum for it.
First of all, this applies to those whose work is related to management, although the road to an MBA diploma is open to representatives of any specialty, from teacher to financial operations analyst at a bank. Master of Business Administration is a general management program designed for young experienced professionals. Typical requirements for applicants: completed higher education in any field, at least three years of work experience, and a good GMAT score.
MBA programs typically consist of core courses and electives; their duration ranges from 9 to 24 months. Without minimal work experience, getting into the program may be difficult, and moreover, not every applicant will want to put up with having to review the fundamentals of management, finance, and accounting for a year before delving into the intricacies of their chosen specialization.
All over the world, and in particular in our country, many young people who have graduated from their alma mater go on to postgraduate study. The main question then becomes one of time: why should a young specialist spend three years of life writing a dissertation? Wouldn't it be better to go to work and gain necessary experience in practice, and also earn money? After all, it is at 25-30 that people start families, have children, and careers gain momentum.
There can be many reasons for entering postgraduate study: passion for science, continuation of family traditions, or even the opportunity to get a deferment from military conscription. Some do not want to disrupt the routine formed during five years of university study. Interestingly, in the West the motivation is practically the same for young people entering master's programs (the analogue of our postgraduate study) and doctoral programs. Except that military deferment is not so much in demand there.
If you are not yet ready to make a significant contribution to domestic science, but want to study, then it is worth considering continuing your education in master's programs (Master of Science, Master of Arts) at Western universities. But remember that even then you should clearly see the prospects for self-development and understand how obtaining a degree will help you achieve your goal. If you doubt yourself, it is better to postpone entering a master's program and start planning your career. Otherwise, you will only waste time and money.
In the West, people usually enter a master's program immediately after obtaining a bachelor's degree. However, among students of master's programs (not MBA) at Western business schools, there are quite many young people with work experience, although its presence is not a mandatory requirement. Due to differences in higher education systems, our students often go abroad already holding a specialist diploma. Programs usually differ by specialty, but some teach general management, which can be very useful for those who do not have a degree in business and/or economics. Overall, MSc/MA programs, in contrast to MBA, are considered academic and end with writing a dissertation, which in the future can serve as the basis for doctoral work.
An international student will have to prove proficiency in the language of the country where they plan to study, as well as secure the support of two or three referees. The duration of study is two years, and such programs cost significantly less than MBA programs.
After graduation, it's up to you to decide what to do next. Your chances of finding a job at a Western company increase significantly. Most studies show that in the West, those who have completed a master's program earn more than bachelor's degree holders. According to the U.S. Census Bureau, the average salary of a bachelor's holder is $40,478 per year, while a Masters Degree holder earns an average of $51,183 per year, and a PhD – $77,445.
Academic degrees (MSc, MA) are often a necessary condition for obtaining a doctoral degree in a field of knowledge. If you have decided to reach the highest level of academic education, start preparing for a Doctor of Philosophy degree. This degree, the highest possible, can be academic or professional. The professional one (e.g., Doctor of Medicine – MD) implies practical application of acquired knowledge. The academic one (Doctor of Philosophy – PhD) is oriented towards scientific research in a particular field. Obtaining a doctoral degree can take from three to six years. Despite the name, the degree is awarded to historians, economists, linguists, and representatives of other sciences.
A PhD candidate's dissertation must have a clear structure. Based on theory and a new scientific direction, original practical research is carried out, the results of which again lead to theoretical conclusions. This resembles our system of defending candidate and doctoral dissertations, with the exception of some bureaucratic procedures.
When entering PhD programs, a foreign student will have to face serious competition: there are usually few places. Entrance to doctoral programs requires passing language tests. The course of study is long – four to six years – and includes not only attending classes but also practical work depending on the specialization. The main goal is to defend a dissertation. Every student has a chance to receive a grant for tuition and research, so be prepared to justify the importance and uniqueness of your work. If the outcome is favorable, you will have money by the start of your studies, and your budget will be replenished throughout the course.
What next? Graduates of PhD programs are sought-after employees in many leading European universities. Moreover, these are the people who are in demand by Western companies for consultant positions.
An MBA diploma holder has the opportunity to obtain a doctoral degree (DBA), which allows a businessman or manager around thirty-five to rise quite high professionally. People with an MBA diploma and substantial work experience enter DBA programs. Often they are owners of large companies or top executives. The programs are very, very expensive, and there is no point in counting on any financial aid.
The result of studying in a DBA program is writing a dissertation (as in PhD programs), but the theory is built on the basis of the applicant's practical experience. After the defense, this person is a welcome guest at any business school; his business income can be supplemented by earnings from lectures, and those around him will begin to add the word "doctor" to all his titles.
So, if your scientific thought has only just begun to gain momentum after graduating from university, then improve your knowledge of foreign languages and apply to master's and doctoral programs at Western universities. But first, carefully study the university's history, the program's reputation, and the professional path of its graduates. And do not be afraid of the "eternal student" image: after all, it is your choice. In less than 23 years, students from all over the world will start coming to you for advice on one matter or another. And then your turn will come, Master or Doctor, to reveal the secrets of this world.
Vyacheslav DAVIDENKO,
Zoya ZAITSEVA.