Question: What prospects exist for the given moment in Citigroup for owners of MBA searching for work in the European region?
The answer: this year we have employed about 5 % MBA both for the period of practice, and on a permanent job. Basically we hire guys for work connected with investitsing and bank programs, with the structured corporate finance, global services of transfer (global transaction service), management of monetary flows, services connected with safety, the joint financially-administrative program (which is internal financial department), and also for carrying out of research of the share market.
It is the first year when we have started to hire MBA holders in department of «global services of transfer».

«Begin in advance» - the most widespread advice arriving on МВА. Also it is as though banal did not sound, to begin preparation really better already now. Why? Here 8 reasons explaining all in details:

1) Delays on mail

In any cases you should send huge envelopes with documents by usual mail. Delays at transfer are popular in all countries, even in the USA. Also it will be very insulting, if yours a nominee will not be considered for such a silly reason. And as autumn is time of applications of documents practically everywhere, documents can be late because of quantity of parcels sent to this period.

2) Different terms of giving of documents

Who should go to business school on program MBA:

1. People with the plan (the further development)

Business schools training under program MBA are not for passive people who think that, laying on a sofa, it is possible to get not one star from the sky. Therefore if you are active and if you have the slightest representation about your further life, in particular, career, business school and MBA are for you.

Thus, in your interests, accurately to represent, why you need MBA. If you do not have the definite purposes connected with business school and MBA, find them and, make the favour, faster. Still not bad to be focused on a certain field of activity and to choose MBA-school suitable for it.

2. For people with experience

It is not a secret, that business schools training under program MBA are in constant search of students with a decent operational experience. The average student is a person, who is older than 25. Why such old? Because he has a work experience which he can share with other MBA-students at business school. Naturally, your colleagues on MBA also will share the knowledge.
 

European business schools expand to American market

Spenser Altman, the adviser from New York and МВА candidate, thought to enter local business school in Columbia University or New York University. But romanticism of Paris was too attractive.

«I have thought, that it would be quite good to live in Europe and have started to be interested, how much it is possible, to receive МВА there», Mr. Altman tells. After some research, Altman has noticed, that HEC School of Management in suburb of Paris recently began to appear even more often on tops of ratings. And it meant, that the given school could become good stimulus to language studying, and also give the chance to study deeper special cultural approaches to business dealing in the Western Europe.

МВА, maybe, is the American invention, but many American students even more often choose the European business schools which become more and more competitive. Many European schools have very much promoted in the American market, offering advantages of a combination of various cultures and training in the conditions of more and more global economy. Some schools advertise the year programs as the best alternative to a standard biennial course which is offered by schools of the USA.

In the frenzied quest to complete the MBA applications process, it can be easy to slip up and make an error. Unfortunately, admissions committees aren't normally very forgiving of mistakes.

What is the Most Common Mistake That Applicants Make?
To help you answer this question, I asked several admissions representatives from top business schools about the most common mistake that applicants make when applying. 

Here's what they had to say:

"They submit generic essays that could be used for any business school. Also, we get many essays that don't answer the question that was asked." - The Associate Director of Admissions at Ross School of Business

"Not researching a school well. Deciding to get a MBA is a major decision. We want to know why you want to get an MBA and why you think McCombs is the best place for you to get it." - Christina Mabley, the Director of MBA Admissions at McCombs School of Business

The world economic crisis has hit the worldwide managerial job market hard, yet MBAs appear to be fairing better than unqualified managers in as a whole.  
EU unemployment has jumped by 1.2% to 7.9% in April 2009, equated to 6.7% a year ago (US unemployment has risen by 3.3% in the equal time period). 
MBAs have not been isolated from this crisis, but early career service feedback advises the percentage finding employment within three months of graduation will not be importantly different from a year ago.
Even as employers scale back their general employing plans amid weakness in the world economic system, their interest in contributing MBAs on board stays steady and is likely to remain so during the approaching months, according to a survey by the Graduate Management Admission Council(R) (GMAC(R)), supporter of the GMAT(R) exam, along with partners, the MBA Career Services Council and the European Foundation for Management Development.

Distance MBA PROGRAMS: how to choose, not to be mistaken

The market of distance MBA-PROGRAMS is huge basically at the expense of the USA. Historically in Europe people preferred traditional Full-time or Executive MBA-programs. In States where ÌÂÀ for a long time already has become commodity, in o University of Phoenix under program Înline MBA "is annually trained" over 60 thousand persons. Thus many of them have no first education that is inadmissible at receipt on classical formats of ÌÂÀ. Also there is a high share of people that are older than 40 years. Taking into consideration these two factors, it is possible to assume, that basically it is mature age average management, who simply wishes to receive a doploma to add in the resume. This motivation practically is not peculiar to candidates on Full-time programs.

If you wish to write a successful essay, it is not obligatory to read huge number of books and to reconsider set of sites. It is enough to be guided by thirteen principles.

1. Do not distort the truth
It is not necessary to changó the facts from the life, even if you desire it very much. First, it not always looks convincingly. Secondly, liars need to have very good memory - to remember all nuances of the changed biography and not to be caught.

2. Do not make up
It is not necessary to speak too much about reputation of university, excellent teaching structure, a network of graduates and so forth. To say about yourself and that you will give to university is better.

Real advantages of  MBA
… or that is much more important than professors and the Harward cases …
You know, what is the greatest advantage of MBA program? No, neither cases, nor subjects which you will study, nor professors! They are people with whom you will study! No other program unites so interesting people of different nationalities, trades, age, an operational experience and vital sights, as a course international MBA.
And it is simply marvellous! Judge.
In our class there are people from China, the USA, Canada, Australia, Estonia, Argentina, Italy, Spain, Afghanistan, Russia, Sweden and Norway.
The youngest student is 26 years old. To most "elderly" is 46  Middle age - 32 years.

Professional content is the such: bankers, advisers, actors, workers of the governmental organisations, engineers, pharmacists, pilots, lawyers, financiers, experts in marketing, PR-experts, auditors, owners of own companies and managers of average / the top echelon of the companies of the most different profile.

Why is this program the  most preferrable to people who have already taken place in business? Well, first, not many Chief Executives from among those who can afford themselves training at leading western schools, will agree to leave for a long time the business and to go to study in other country for a year or even more. And secondly, the standard program of ÌÂÀ education  does not satisfy the requirements of Top-managers. And it is not surprising, after all to the people having enormous experience in administrative sphere, it is completely not interesting to be trained in those elementary things which are taught to yesterday's students, or the young managers not having yet very big experience in administrative activity.

Thus, ÅÌÂÀ fully corresponds to inquiries of chief executives of such level. MBA can be received in Russia also as Russian Universities are the partners of leading western business schools.

For example, partners of Institute of Business and Business Administration of Academy of national economy at the Government of the Russian Federation  are the Harward business school and Antverpen University.
You may ask, but what is the reason for the successful businessman or the manager, especially Top-manager again to take seat for a student's bench?

Programs MBA undergo every year the increasing changes, and meet half-way requirements of listeners. We had not time to get used to programs Full-time and Part-time as business schools are already ready to offer the future students one more interesting variant of passage of study. If you dream to work in the large international company, and you are absolutely not interesting in wasting your time on small firms, or to open own business then, maybe, you will be interested by program Global MBA. In general this program can be characterised as follows: program Global MBA is program Part-time, but the basic emphasis in it becomes on the international business relations. For this reason it will be offered to students to get acquainted more profoundly with such subject, as macroeconomic. It undoubtedly will be useful to the listeners, planning to take part in management of the company which has branches all over the world. And besides it program Global MBA will give necessary skills, for the best comprehension of world business processes.

Now a lot of managers, understanding necessity of constant self-improvement, search for programs of training which could satisfy their inquiries, and help with the further career advancement. Now in the market of  MBA education possible variants of training under this program are presented. Full-time MBA, the program demanding full immersing in educational process, Part-time MBA, the program allowing to combine study at business school and work, Global MBA - the course for students, wishing to work in the large international company with the branches presented in the different countries, and Distance MBA. It would be desirable to talk about the last, because, this program, causes the greatest quantity of disputes among students and teachers. What is Distance MBA? In general, most precisely it is possible to characterise this program as correspondence distant MBA course. And most of all it reminds certain courses of improvement of qualification. For whom it is intended? First of all for students who wish to receive American, or English diploma MBA, but in a number of the objective reasons do not presume to study by other kinds of programs. In some cases, the listener simply wishes to improve the knowledge in a certain direction and does not see necessity for passage of more profound type of programs, such as Full-time, for example. Training under program Distance MBA usually lasts two years, but at some schools, such as, for example, Tanaka Business School Imperial College MBA can occupy from two till five years. Practically all leading schools of the world give to students possibility to be engaged on this system of training. But also to this program the certain requirements necessary for the student for receipt are exposed. The basic is a presence of degree of the bachelor. Also, the excellent knowledge of English language as all training will occur on it is necessary.

Education.  In the USA and Europe it is considered to be a good manner to give grants and discounts for education of talented students.

Under the conditions of crisis a possibility to receive free MBA for another's account becomes more tempting.
  It is difficult to force someone to pay for your training: on the general understanding, the people who have money, ideas and experience should get MBA degree. But anyone should try to do this.
 So, 23 years old Paulina Kurbashkina has convinced Spanish IE Business School, one of the leading schools of Europe, that she sould get the grant which would cover one third of a tuition fee. «I have emphasized on the age - 23 years - by the moment of application: the overwhelming number of grants are given out to the youngest and consequently, to perspective candidates, - Polina shares her experience. - Also she has paid attention to the balance of professional and scientific achievements: three years in strategic consulting and the finance, the book in the co-authorship, the international certificates. Also she has described in details the financial plan in case of reception of grant and vise versa».

From the moment of starting up of courses of business administration in the beginning of 1900 years and especially last two decades MBA programs varied constantly.

Launching of the courses "Mini MBA" which are shorter twice in comparison with classical courses became the most considerable innovation. This innovation became a consequence of nowadays speeds on which the companies and the countries are developing under the influence of information and digital technologies. Many Head Managers can not afford themselves leaving their jobs to study for 2-3 years at standard courses, thus requirements to quality of courses constantly grow.    "Mini MBA" became the present reality for many people: duration of training is about 1 year, the intension and quality of the program remained at former level and constantly improve, training cost has been decreased. Many Head Managers already have estimated the advantages of such "advanced" form of training and recommend it for modern businessmen and managers as an optimum variant of vocational training.

Online MBA becomes more popular
Traditional ways to get MBA vary now. Today not many people may afford themselves  leaving  their job and  to live carelessly, getting education in one of the universities of the world. But now even for such people there is a possibility to get MBA.

According to the New York Times information online MBA program  becomes more and more popular nowdays. It occurs basically because they are  trusted more than earlier. One of the most popular Internetuniversities today is University of Phoenix Online.

University of Phoenix Online is the biggest educational institution for working people in the USA. From the date of its foundation in 1976 the university became more and more known thanks to quality of education.

"Whether you wish to finish the education or to get degree or to begin new career, University of Phoenix Online is for you. Here you can gain degree of the Bachelor, the Master or the Doctor. At university you can find special centre called Continuing Teacher Education which offers improvement of professional skills for  people combining work and home life with education. So the advertising slogan on site University of Phoenix Online says.

Jack Byrne, the student in Natchez, says, that now people are very busy, that's why the success awaits for  University of Phoenix Online. Nevertheless he says, that he never would began to study in a  place like that.

Diploma of ÌÂÀ gives 40 % of the bonuses to the salary.                                         

The American employers hire new employees less actively among graduates of business schools, but experts with the diploma of the master of business administration (MBA) still receive the most exclusive offers in sphere of the finance and consulting.

Diploma of  MBA is still appreciated, experts of association of business schools Graduate Management Admission Council confirm based on the results of the new research. 98 % of the employers interrogated by association representing both the small companies, and transnational corporations, are happy with graduates MBA. The comparative analysis of the average salary shows, that the companies stably offer to such experts the salary on 30-35 % more than, for example, to employees with Master Diploma in management sphere. Diplomas of MBA are still claimed in sphere of consulting, public health services, pharmaceutics, power and municipal services.

«Fundamentally nothing has changed. Corporations still appreciate diplomas of MBA and are still interested in attraction of experts with unique knowledge and skills which graduates of business schools possess, - Dave Wilson, the president of GMAC makes comments. - But employers in all spheres of economy are waiting  and do not hasten with construction of plans on hiring this year, and those who employs experts with MBA, they are also compelled to reconsider the programs under the influence of economic recession».

Higher Salaries for 2008 MBA Graduate

Our investigation for BusinessWeek’s 2008 ranking of full-time MBA programs  came out a truly interesting fact. While there were many forecastings of gloom and doom for students graduating in 2009, those who graduated this year did astonishingly well for themselves.

My co-worker, Geoff Gloeckler, compared the post-MBA salaries for the preceding class of 2008 with those for the class of 2006, the last time we ranked full-time programmes. He found out that the 2008 salaries averaged $104,000, a growth of 9% and the first time that figure topped $100,000 in the history of the BusinessWeek rankings.

These calculates—for salaries only, not taking into account bonuses, stock options, etc.—are for all the schools taking part in the ranking. (They’re also founded on BusinessWeek’s own research of grads; this data does not come from the schools, and does not present the entire class, just a big part of it.) While the schools that take part vary slightly from ranking to ranking, it’s a fairly stable group, so this is very close to an apples-to-apples comparing.

How Much Does an MBA Cost

Tuition Fees - The medium  MBA cost  is between $80,000 and $130,000 for the two-year course of study. With MBA courses the more you pay, the bigger the benefit. The more influential the school, the more expensive the tuition. This is one area where the brand name, or the name of the academic establishment that you choose, will definitely make a difference, both in the type of education you get and how prospective employers perceive your degree.

Salary release
For one or two years, or as long as the course takes, you will not be gaining full wages. MBA studies are not contributory to working, so there is not only the tuition and living disbursements for the entire learning period, but also the foregone salary.