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The She�eld Executive MBAfor Doers, Thinkers, Talents and Leaders in Sofia

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The Executive MBA’s holistic approach provides a broad understanding of business and management with a strong focus on hands-on, applied experience. Designed exclusively for the needs of today’s manager acting in a globalised environment, a variety of activities and attributes add up to the unique She�eld MBA learning experience.

MBA in General Management | Finance | Marketing | Logistics Management | Healthcare Management | Human Resource Management

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MBA degrees 3Top 50 MBA Universities 4The Global MBA Experience /ESCP/ 6Return on Investment on MBA – Trust the number (CITY College) 8

TesTs And exAMs 10GRE 12GMAT 13

regions 14Bolkan Region 16- City College University of Sheffield 18Europe 20- ESCP 22North America 24Asia 26

Table of contents

MBA. Three letters that have become synonymous with success. And trust us on this – not every combination of three letters can say the same. So why is the Master of Business Administration so different? What makes the alumni of such programs successful business leaders? And ultimately – why does it even matter? After all, the world is full of successful businesspeople who failed to complete their education in the first place, let alone do an MBA degree.

The answer is very simple. If you have the entrepreneurial or technical genius of people like Bill Gates, Steve Jobs or Richard Branson, you don’t really need to do an MBA. Perhaps you would be better off leaving your studies and focusing on your job. But – let’s face the truth – most of us don’t.

Luckily there is an alternative way to the world of big business – education. Numerous studies have proven again and again that well educated people fare better in the fiercely competitive job market. MBA graduates in particular experience a serious increase in their salaries and improve their chances of successful career changes.

Having said that, we should also note that MBA programs are not for everybody. The universities themselves are very selective and the criteria for the applicants are very high. You will need prior managerial and business experience in order to enroll in such a course. It might seem harsh, but in reality you need this experience in order to make the most of the program.

MBA programs are usually led by and attended by active managers, so the networking opportunities there are considerably more important and interesting. In short – MBA degrees are definitely worth the effort!

FroM The ediToriAl TeAM

Top 50 MBA progrAMs in The world

Rank in 2016 University StateAverage annual salary (USD)

Salary increase (%)

1 Insead France / Singapore 166,510 96

2 Harvard Business School USA 172,501 94

3 London Business School UK 154,150 100

4 University of Pennsylvania: Wharton USA 177,877 84

5 Stanford Graduate School of Business USA 185,939 87

6 Columbia Business School USA 169,866 99

7 University of California at Berkeley: Haas USA 169,395 93

8 University of Chicago: Booth USA 158,259 107

9 MIT: Sloan USA 159,909 90

10 University of Cambridge: Judge UK 156,323 95

11 Northwestern University: Kellogg USA 162,923 93

12 IE Business School Spain 159,266 104

13 IMD Switzerland 157,439 83

14 HKUST Business School China 144,303 114

15 HEC Paris France 134,299 108

16 Iese Business School Spain 140,185 121

17 Ceibs China 147,716 157

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There is fierce competition between the universities that offer MBA and EMBA programs. To present a better evaluation of their quality, we will turn to the experts from one of the most

renowned global media – The Financial Times. They publish a yearly ranking of the world’s leading MBA and EMBA programs.

The rankings are based on several criteria – they include the graduate’s yearly salary, as well its change after graduation. Of course, the numbers listed below represent the average value – exceptions can vary greatly. You could learn more about the ranking and the methodology it employs at www.rankings.ft.com. You could also customize the ranking and view the criteria you are most interested in. For example, you could check the employment

rate of the alumni or the number of scientific articles, published by the institution. Note that several positions are occupied by more than one university. In effect – there are more than 50 universities in among the world’s top 50. The reason for this is that several institutions have been attested with identical results from FT`s experts.

There are other factors that you should consider while choosing your degree, that are not always included in such rankings. The location, the interest of local business leaders to the program and so on.

But without further ado, let’s get to the rankings.

18 Yale School of Management USA 152,232 108

19 New York University: Stern USA 150,510 97

20 University of Michigan: Ross USA 144,961 107

21 Duke University: Fuqua USA 144,455 94

22 Dartmouth College: Tuck USA 156,652 95

23 Esade Business School Spain 132,119 117

24 Indian Institute of Management Ahmedabad India 174,274 96

25 SDA Bocconi Italy 122,955 116

26 CUHK Business School China 124,268 120

27 University of Virginia: Darden USA 147,104 109

28 University of Oxford: Saïd UK 136,959 81

29 Indian School of Business India 138,454 142

30 Nanyang Business School Singapore 119,032 105

31 Cornell University: Johnson USA 142,764 102

32 National University of Singapore Business School Singapore 115,148 121

33 Carnegie Mellon: Tepper USA 136,996 108

34 UCLA: Anderson USA 140,067 89

35 Imperial College Business School UK 112,301 83

36 Lancaster University Management School UK 106,638 111

37 City University: Cass UK 121,402 82

38 Alliance Manchester Business School UK 117,918 96

39 Shanghai Jiao Tong University: Antai China 113,340 168

40 The Lisbon MBA Portugal 123,584 100

41 University of North Carolina: Kenan-Flagler USA 128,240 97

42 Rotterdam School of Management, Erasmus University Netherlands 107,998 81

43 Renmin University of China School of Business China 94,233 163

44 University of Hong Kong China 112,518 106

45 Georgetown University: McDonough USA 130,950 95

46 Warwick Business School UK 112,287 70

47 University of Texas at Austin: McCombs USA 134,317 92

48 Fudan University School of Management China 96,884 170

49 University of Washington: Foster USA 120,279 87

50 Mannheim Business School Germany 109,622 79

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Source: The Financial Times

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The Global MBA Experience

by ESCP Europe

In the last few years the tendency of applicants seeking to enter international business schools has grown. The factors for this shift are many: from the state of the economy to

the increased desire for a more global perspective. The MBA programs are no exclusion.

An International MBA Program provides an environment with a diverse mix of business people who come from different territories. In this way students can immerse in a unique ambience and learn about various cultures. The curriculum delivered is focused on business practices in different regions which can help the global business professional get exposed to new ways of doing business and get familiar with regulations that apply on a global level and not just on a domestic one. Since everything is so interconnected, International MBAs can provide a diverse toolkit to add to your resume.

The ESCP Europe MBA in International management is international by nature. It is based in 6 of the most historical and dynamic capital cities in Europe: Paris, London, Madrid, Berlin, Warsaw and Torino. The MBA in IM is a 1 year/ 2 countries program in Europe or Asia. MBA‘s participants study in 2 different campuses in the heart of these cities. With the electives students can experience the 6 European campuses if they wish, too.

Students come from 35 to 40 different countries, which provides a truly multicultural and worldwide class. Knowledge, creation and transmission are in the hands of the school’s over 130 full-time faculty members working across the 6 campuses. The activities of our faculty members reach across three domains: teaching, research and academic programme leadership. 80 affiliate faculty members, university professors or working professionals dedicate and collaborate to the programmes.

Over 700 working professionals, with long experience and strong expertise in their fields, contribute to ESCP Europe taught programmes as adjunct faculty members.

Our MBA provides a great opportunity to build a global network. 50,000 ESCP Europe alumni work worldwide in more than 130 countries. MBA Students are part of this community and have the opportunity of choosing during their MBA track a mentor among the alumni to get tips and advices for their professional career and personal development.

Studying the MBA in IM is choosing to have a Journey in knowledge and culture. It is a life changing programme, according to the testimonial of our alumni and students

Key features at a Glance: • 1-year, full-time programme with a strong cross-cultural approach

• Accredited by the Association of MBAs and “Grade de Master“, National State degree

• 2 countries of your choice in Europe and Asia

• 6 ESCP Europe campuses and 2 academic partners

• 22 electives offered

• Double degrees available

• Experiential learning: 2 Company Consultancy Projects.

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Last but not least the ESCP Europe Alumni network counts 50,000 alumni working in 140 countries worldwide, in all areas of activities. Our MBA students can seize the opportunity to choose a mentor among them to get tips and advices during their MBA programme.

You offer an MBA program in several campuses around Europe. What are the benefits of such multicultural approach?Thanks to this unique structure, our students stimulate their sight, develop their capacity of adaptation, their ability of perception and comprehension of the different cultures, their understanding of different ways of thinking and doing business.

As our campuses are urban – located in the heart of the cities – students can enjoy being surrounded with a wide range of professional, business, academic, cultural and social events, in and out of the school. This represents an exceptional opportunity to deepen cross-cultural management by living and experiencing the different businesses and cultures.

The MBA in IM is a real life changing programme and an amazing journey in knowledge, management, diversity and culture.

Is doing an MBA in several countries a growing trend? How will it develop in the future?Yes, it definitely is ! Indeed, there is a wider offer for MBA offering exchange programmes or 2-year duration MBA programmes operated in 2 different countries nowadays.

In an increasingly globalised world, it is of crucial importance for leaders and managers to anticipate future trends and market expectations, as much as “keeping an ear out” to invent new products on an international scale. At ESCP Europe, we strongly believe that diversity, international approach and environment are conducive to creativity and imagination leading to innovative business perspectives.European identity/Global Perspectives is our “motto”.

What is the International Management MBA program and how is it different from other programmes?Our MBA in IM is an intensive and general management programme offered by a unique Business School in the World: ESCP Europe. Founded in 1819, the ESCP Europe BS owns a triple accreditation (AACSB, EQUIS and AMBA) and is ranked by different surveys (for i.e F.T.) amongst the world’s best 15 BS each year. ESCP Europe is also unique in its structure as it is settled in 6 different main cities in Europe: Berlin, London, Madrid, Paris, Torino and Warsaw.

Our MBA in International Management main features are:

• Generalist - all management topics are covered and a choice of 4 electives out of 22 suggested allow students to specialize in a field of management or to have a “360 degree” view of Europe;

• Intensive – less than one year out of the Job Market: within a one-year intensive programme we offer candidates to study in 2 different countries in Europe or Asia;

• Multicultural and international - our MBA provides a strong focus on intercultural management as it is highly diversified in terms of ethnicity (30 to 40 different nationalities with no dominant ones) and backgrounds (students own 3 to 7 years of professional experience from a wide variety of fields and positions);

• High level of teaching – courses are delivered by 140 international full time faculty, all experts recognized in their area;

• Hands on approach – through for instance the 2 Company Consultancy Projects, real projects provided by multinational and local companies; students choose their own CCP on each semester;

• 6 career services – handled by and in each country, a unique structure which allows students to be trained and well prepared for the international market job as well as for the national ones. Choose your job among our 30,000 offers or start with an intern among 20,000 ones per year.

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Return On Investment from an MBA:

Trust the Numberby Leslie T. Szamosi, PhD

For the last fifteen years we have witnessed some big changes in MBA programs throughout the world and more specifically within this region. From boom to crisis to boom more and more people are considering some form of MBA education (exec, full-time, part-time, distance). Potential students ask questions like what salary (or salary change) can I expect when I finish? Or, what type of job can I expect? What everything seems to boil down to is ROI (return on investment).

In business, ROI is a critical key performance indicator (KPI) and is generally seen as a measurement of the profits of a company in relation to the money that has been spent (invested) (or, how much is made from what is invested). There are multiple ways to evaluate and measure ROI in business given that nearly every functional area (e.g., marketing, HR, production) can evaluate it given their specific context to simply ensure that they are "getting their money’s worth" from what they spend.

So, in general terms, ROI is the overall "benefit" that one gets from a specific type or form of investment. For a MBA candidate the inputs (or expenses) include the financial cost of the MBA, the amount of effort they put in, and the opportunity costs (focusing on the MBA rather than potentially other things they would focus in on while they study) versus the outcomes (e.g., salary, career advancement, opportunities, networking). As we can see, there are a number of inputs and outcomes but the majority of candidates simply focus on the program cost versus the outcome salary ratio which is, in my opinion, a very narrow view. Do not get me wrong, good MBA programs require a financial investment BUT they should be looked at in terms of overall development and not simply from a “money in, money out” perspective.

MBA candidates should look at overall ROI taking into account the totality of inputs and outcomes. So many times MBA graduates tell us about the journey and how the more they put in, the more they got out; the more they engaged, the greater the networking; the more they opened their eyes to new possibilities, the more they developed as people. Salary, money, is not an end goal that comes simply BECAUSE of doing a MBA – perhaps this was the case 20-30 years ago.

So, to get the most out of a MBA program (i.e., maximum your outcomes) planning and upfront thinking is critical. Career planning should start with understanding that a career is the series of progressions through different jobs and work related experiences through a lifetime. When embarking on a MBA the critical question to ask is why do I want this? Meaning, is it time for a career change and do I need a MBA to: progress in my current career; expand my areas of knowledge to make me more informed; start my own company? The MBA should be seen as an important component of this plan. In our region we should also not be oblivious to the fact that some see the MBA (and their career to this point) as a "ticket" into another country

for career opportunities. Each of us has different goals, different areas they wish to explore, different plans for ourselves.

The other important outcome that we talked about, salary (or salary increase) is not a guarantee "simply" because someone completes a MBA – it is much more complex than this. The data suggests that MBA graduates generally get salary increases about 30-40% higher than non-graduates overtime. What is perhaps more telling is that in order to progress (or even compete) today the more educational background one possesses the greater the opportunities that open up.

So, when we boil things back down to ROI, the old adage that the more one personally (not financially) invests in a MBA the more one gets out! Rewards, whether they are from career, salary, or knowledge come from effort. Careers are made, they are planned, and MBA (or other degree) programs should be a part of the planning process to get you where you want to go. Choose the program that best meets your requirements, that can guide you to where you want to be. Consider ALL of the inputs and ALL of the outcomes and not just the program cost and salary outcomes. According the Financial Times global survey, in January of this year, MBA salaries increased by record amounts last year suggesting positive ROI – but this is only part of the story.

The story continues …

by the University of Sheffield

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TEsTs & E

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Tests & Exams

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ABouT The exAMGetting an advanced degree can create many opportunities. In fact, recent data from the Bureau of Labor Statistics and The Organization for Economic Co-operation (PDF) illustrates how education pays in higher earnings and lower unemployment rates. Whether you are planning to go to graduate school or business school — or just exploring your options — you are taking an important step toward your future. It is a smart move to show schools your best and with the GRE® revised General Test, you can! That's the Power of Confidence — only with the GRE revised General Test.

The GRE revised General Test gives you the Power of Confidence to help you do your best. With the GRE revised General Test, you decide which scores to send to schools. If you feel you didn't do your best on test day, that's okay. You can retake the test and then send only the scores you want schools to see. It's all part of the ScoreSelect® option, only available with GRE tests.

Plus, the GRE revised General Test is the only admissions test for graduate or business school that lets you skip questions within a section, go back and change answers, and have control to tackle the questions within a section you want to answer first.

CoMponenTsThe GRE revised General Test features question types that closely reflect the kind of thinking you'll do in graduate or business school.- Verbal Reasoning — Measures your ability to analyze and evaluate written material and synthesize information obtained from it, analyze relationships among component parts of sentences and recognize relationships among words and concepts.- Quantitative Reasoning — Measures problem-solving ability using basic concepts of arithmetic, algebra, geometry and data analysis.- Analytical Writing — Measures critical thinking and analytical writing skills, specifically your ability to articulate and support complex ideas clearly and effectively.

AppliCAnTsProspective graduate and business school applicants from all around the world who are interested in pursuing a master's, MBA, specialized master's in business or doctoral degree take the GRE revised General Test. Applicants come from varying educational and cultural backgrounds and the GRE revised General Test provides schools with a common measure for comparing candidates' qualifications.

GRE scores are used by admissions or fellowship panels to supplement your undergraduate records, recommendation letters and other qualifications for graduate-level study.

TesT CenTersThe GRE revised General Test is available at more than 1,000 test centers in more than 160 countries. In most regions of the world, the computer-delivered test is available on a continuous basis throughout the year. In Mainland China, Hong Kong, Taiwan and Korea, the computer-delivered test is available one to three times per month. In areas of the world where computer-delivered testing is not available, the paper-delivered test is available up to three times a year in October, November and February.

inTernATionAl reCogniTionThe GRE revised General Test is accepted at thousands of graduate and business schools as well as departments and divisions within these schools.

Many graduate schools in the United States require GRE results as part of the admissions process. The GRE is a standardized test intended to measure the abilities of all graduates in tasks of general academic nature, regardless of their fields of specialization. The GRE is intended to measure the extent to which undergraduate education has developed an individual's verbal and quantitative skills in abstract thinking.

Unlike other admissions tests the use of GRE scores vary considerably not only from school to school, but from department to department, and from program to program.

ABouT The exAMThe Graduate Management Admission Test is a computer adaptive test (CAT) intended to assess certain analytical, writing, quantitative, verbal, and reading skills in written English for use in admission to a graduate management program, such as an MBA. It requires knowledge of certain grammar and knowledge of certain algebra, geometry, and arithmetic. The GMAT does not measure business knowledge or skill, nor does it measure intelligence.

According to the test owning company, the Graduate Management Admission Council (GMAC), the GMAT assesses analytical writing and problem-solving abilities, while also addressing data sufficiency, logic, and critical reasoning skills that it believes to be vital to real-world business and management success. It can be taken up to five times a year. Each attempt must be at least 16 days apart.

GMAT is a registered trademark of the Graduate Management Admission Council. More than 5,900 programs offered by more than 2,100 universities and institutions use the GMAT exam as part of the selection criteria for their programs. Business schools use the test as a criterion for admission into a wide range of graduate management programs, including MBA, Master of Accountancy, and Master of Finance programs. The GMAT exam is administered in standardized test centers in 112 countries around the world.

CoMponenTs• Analytical Writing Assessment (AWA)

The AWA consists of one 30-minute writing task—analysis of an argument. It is important to be able to analyze the reasoning behind a given argument and write a critique of that argument.

• Integrated reasoning Integrated Reasoning (IR) is a relatively new section (introduced in June 2012) designed to measure a test taker’s ability to evaluate data presented in multiple formats from multiple sources.

• Quantitative section The quantitative section of the GMAT seeks to measure the ability to reason quantitatively, solve quantitative problems, interpret graphic data, and analyze and use information given in a problem.

• Verbal section The verbal section of the GMAT exam includes the following question types: reading comprehension, critical reasoning, and sentence correction. Each question type gives five answer options from which to select.

AppliCAnTsQuality graduate business programs rely on the GMAT to make admissions decisions, so if you’re serious about business school, then

GMAT

the GMAT is your best first step. Applicants are generally aged about 30 and have some experience in management to begin with. This generally fits the profile of MBA applicants, which comes as no surprise, as this exam is frequently requested by MBA programs.

TesT CenTersThe GMAT exam is annually held at more than 550 test centers in 110 countries – including Bulgaria - making it one of the largest international exams.

inTernATionAl reCogniTionAccording to a survey conducted by Kaplan Test Prep, the GMAT is still the number one choice for MBA aspirants despite the increasing acceptability of GRE scores. According to GMAC, it has continually performed validity studies to statistically verify that the exam predicts success in business school programs.

In recent years, it has been taken more than 230,000 times annually. Initially used in admissions by 54 schools, the test is now used by more than 2,100 schools and 5,900 programs worldwide. On June 5, 2012, GMAC introduced an integrated reasoning section to the exam that aims to measure a test taker’s ability to evaluate information presented in multiple formats from multiple sources.

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Think gloBAl And zooM in on one oF The FAsTesT ChAnging MArkeTs in The worldBusiness schools from Central and Eastern Europe are emerging as the place to be for both local and international MBA candidates.

Over the last two decades, Central and Eastern Europe (CEE) has established itself as one of the fastest growing economies in the world, with countries like Poland and Romania reporting GDP growth of 7-8% in the years prior to the economic meltdown.

The Balkan region, in particular, is also gaining fame with its international programs. The main benefit of studying at a regional business school comes from the mixture between the western European business education model (that the majority of the local schools adopt) and the case studies adapted to the specifics of the developing economies. International students are profiting from the local educational background that shapes business skills required within multinationals or organizations operating in the emerging markets around the world.

The BAlkAn region inCludes BulgAriA, serBiA, roMAniA, greeCe, CroATiA

BulgAriAWhen talking about MBA in the Balkans it is only fair to consider the options in Bulgaria. You may be surprised to learn this, but there are actual, internationally recognized MBA degrees offered in our country as well. Bulgarians tend to be skeptical when it comes the quality of education here (and sometimes - rightfully so), but in reality the American University in Bulgaria, CITY College, the International Faculty of the University of Sheffield and the Varna University of Management offer strong MBA programs.

Several public universities offer a master’s degree in Business Administration, but this isn’t exactly an MBA. The main differences are that the lecturers are most academics (as opposed to actual business practitioners) and the programs are not accredited by international institutions. Having said that, we must also admit that

the programs often include similar materials and are considerably cheaper, than MBA’s. So in short – you get what you pay for.

serBiASerbia is another option to pursue a MBA degree in the Balkans. The best MBA programs are considered to be those of CITY College, the International Faculty of the University of Sheffield in Belgrade and COTRUGLI Business School in the Serbian campus in Belgrade.

roMAniARomanian university qualifications highly appreciated and recognized in Europe and beyond, lowest tuition fees and living cost in Europe. The Romanians have an old and rich history, especially in the capital Bucharest with its 2 million people. International students willing to study in Romania can apply either to the Ministry of Education and Research or to the chosen Romanian university, in order to receive the Letter of Acceptance.

The best MBA programs in Romania are offered by the following universities: • Bucharest Business School • DeSales University • Eftimie Murgu University of Resita

greeCeGreece is a top destination for many international students seeking to further their business education and career. Aside from the excellent academic programs, students will be immersed in the past and the present, experiencing the new and modern among the ancient. An MBA in Greece is not only an opportunity to become a highly qualified business professional, but also to grow and develop personally and professionally.

With an MBA in Greece, students can choose an area of specialization, such as marketing, finance, international business, or entrepreneurship, among others. In addition to this specialization area, students pursuing an MBA in Greece will build a solid foundation in all aspects of business to develop into well-rounded professionals capable of functioning in an ever-changing global economy. MBA in Greece students can also have the flexibility of

Top MBA programs in the

Balkan region

full-time, part-time, or online studies. Many universities, both private and public, offer MBA programs. The most popular are: • Athens University of Economics and Business • Athens Graduate School of Management • CITY College - The International Faculty

of the University of Sheffield • ACT American College of Thessaloniki • University of Nicosia • Mediterranean College

CroATiACroatia is a country where 40% of its citizens ranging between 18 and 35 years have attained higher learning education. The country has improved student’s life in these universities with a subsided living standard in these universities especially for both local and even international students. Among the universities, offering MBA programs in Croatia, are: • Zagreb School of Economics and Management • COTRUGLI Business School • Algebra University College

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The University of sheffield International Faculty, CITY College

ContaCtsDessislava Pencheva, Country Manager 27 Tvardishki prohod Str. Fl. 8, Office 36, Sofia 1404 +359 2 961 63 63 acadreg@city.academic.gr bulgaria1@city.academic.gr www.citycollege.sheffield.eu

exeCutive Mba in 6 speCializations

EMBA in General Management

EMBA in Marketing

MBA in Finance

EMBA in Logistics Management

EMBA in Human Resource Management

EMBA in Healthcare Management

loCations of study Thessaloniki, Greece Sofia, Bulgaria Bucharest, Romania Belgrade, Serbia Kyiv, UkraineYerevan, Armenia

student bodyNumber of International students 2014-2015 1,200Postgraduate 450MBA 250Average age of the students 33Gender 40:60 female:maleNationality International student body from more than 20 countries

profile of the institutionThe University of Sheffield is one of the oldest British Universities.

It belongs to the 1% of the best universities in the world, as it is

ranked within the World's top 100 Universities and constantly

amongst the top 25 universities in Europe. It was named "University

of the Year" for 2011-2012 by Times Higher Education. CITY College

is the International Faculty of the University of Sheffield, the only

one located overseas and it is an integral part of the University.

Stretched across borders, the International Faculty embraces

internationalisation and gives to its students the experiences,

curricula and traditions of the University. We aspire to transfer

knowledge, in-depth research and academic excellence across the

region through our education hubs.

prograMsThe University of Sheffield Executive MBA program is a leading

international Executive MBA offered in the region of South East and

Eastern Europe. Taught by top class faculty and experts our MBA

presents participants with invaluable international exposure, unique

learning experience and valuable networking opportunities. Every

year high level managers from leading companies and organisations

across the region are admitted to our MBA program and share best

practice with people from other cultures, countries and industries.

The Executive MBA program’s holistic approach to education

provides a broad understanding of business and management

concepts with a strong focus on business strategy formulation and

execution.

More specifically the above goal is achieved a) through the course

structure and content that includes 14 modules and a dissertation or

business project and b) through a skills development programme that

is designed exclusively to meet the needs of today’s manager acting in

a globalised environment, thus providing students with the necessary

soft skills as well as valuable international networking opportunities.

The Executive MBA program balances between theory and practice

and involves the study of real-world situations and cases in order to

allow students to enhance their analytical and decision-making skills.

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The University of sheffield International Faculty, CITY College

Each Executive MBA student will have a personal coach with whom he or she

will have a number of personal meetings to assess their current personality

type (includes taking the relevant test - instruments); set type development

goals to be achieved by the student; and reflect on goals achieved.

aCCreditationBritish Accreditation Council (BAC), UK NARIC, British Computer Society

(BCS), Chartered Management Institute (CMI), Association of MBAs

(AMBA), Association to Advance Collegiate Schools of Business (AACSB).

rankingThe University is rated 29th in Europe and 84th in the world in the 2016 QS World University Rankings.

delivery ModePart-time/Executive mode - 2 years in (Sofia or Thessaloniki, or Bucharest, or Belgrade, or Kyiv, or Yerevan), (classes on long

weekends: Friday afternoon, Saturday and Sunday); one study week in Sheffield, UK and one study week in Thessaloniki, Greece.

adMission requireMentsUniversity degree A bachelor's degree from any discipline

Language proficiency A fluent command of the English language proven by TOEFL: paper based 575/

computer based 232/ Internet based 89-90 or IELTS: 6,5 or CAE (A or B) or equivalent qualifications.

*Applicants who do not hold formal English language qualifications and meet all other

entry requirements should contact the International Faculty and sit an institutional

test of the University of Sheffield.

Working experience Minimum of three years

Recommendations 1 professional recommendation

Application fee 390 euros

tuition and fees (annual)Currency EUR

Tuition and fees for the full course in Bucharest 14,950 (11,960 after 20% Early Bird Discount)

Tuition Tuition fees vary depending on the program and the region of

delivery. Please contact our local office for more information.

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Europe is the the smallest continent and arguably the most fragmented one. It includes 47 countries and a number of dependencies, islands and territories. It is bordered by the

Mediterranean Sea to the south, Asia to the east, and the Atlantic Ocean to the West.

Despite its apparent geographical limitations, Europe has been the most influential part of the world. It is the home of modern philosophy, art and science. The Age of Enlightenment changed education in the continent and it has consistently been the most progressive and prestigious for several centuries.

Today, Europe retains in important position in the international community, despite competition from our cousins in North America and the East Asian “tiger economies”. The European economy took a severe hit in the early 2000s but is now on the road to recovery. Remember that economic stability is a key concern when choosing the region for your MBA studies.

why An MBA in europe is A good ideA?Unlike the North America, in Europe there is no dominant educational system. The United Kingdom, Spain, Italy, Switzerland and even the Republic of Ireland have universities among the continents top 10 (according to the QS Top MBA).

Note that, European applicant tend to receive lower scores on average on the GMAT exam, compared to their American colleagues. This could be explained by the fact that English is not the native language for many of them.

Having said that, European MBA programs have a distinct advantage when it comes to languages. While English is the de facto official language of business education, in Europe you could study in French, German, Italian or Spanish. This is particularly relevant for candidates from those countries, as well as Bulgarians who have better command of one of these languages.

Some media outlets argue that MBA programs in Europe are generally cheaper than the ones in the US and Canada, but tuition fees can vary greatly, so you shouldn’t jump to such conclusions.

why is spAin BeCoMing A Top Business desTinATion?Spain is home to not one, not two, but three of the continent’s top-ranked global MBA programs, according to FT’s “Global MBA Rankings 2016.” Spain also fared well in The Economist’s ranking of full-time MBA programs, claiming not only two of the top 20 positions, but also the top non-US school spot. Both Businessweek and Forbes, meanwhile, also include Spanish business schools on their roundups of best international business schools.

What makes Spanish business schools such consistent top performers? For starters, they fare well across a broad range of measures, including reputation, success on the job market, student satisfaction levels, post-graduation salaries, and many others.

Spanish schools offer a huge range of courses and specializations. No matter what business degree you want to get - traditional MBA or a more traditional field like banking or finance or a newer field like hospitality management or sports management, you’ll find it in Spain. You’ll also have plenty of opportunities to practice in these field as many Spanish b-schools use real case studies, employ professional skills modules, and encourage students to pursue internship opportunities.

Top MBA programs in Europe

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Rank University Country Overall score

1 University of Oxford United Kingdom 83.6

2 London Business School United Kingdom 81.9

3 HEC Paris France 78.1

4 IESE Business School Spain 75.9

5 IE Business School Spain 74.1

6 Imperial College Business School United Kingdom 70.5

7 Warwick Business School United Kingdom 67.9

8 IMD Switzerland 65.1

9 ESCP Europe France, UK, Spain, Germany, Italy 62.5

10 Bocconi University Italy 62.2

11 Cranfield School of Management United Kingdom 61.7

12 Copenhagen Business School Denmark 60.8

13 Cass Business School United Kingdom 57.0

14 Stockholm School of Economics Sweden 55.8

15 Strathclyde Business School United Kingdom 54.5

Източник: QS Global 100 EMBA Rankings 2017

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EsCP Europe Business school

ContaCtsTURIN CAMPUS Berlin, London, Madrid, Paris, Turin, Warsaw info.it@escpeurope.eu escpeurope.eu

Master's prograMs Bachelor in Management

Master in Management

MSc in Marketing and Creativity

MSc in Marketing and Digital Media

MSc in International Sales Management

MSc in Business Project Management

MSc in Energy Management

Master in International Food & Beverage Management

MSc in Hospitality and Tourism Management

Mba prograMs Executive MBA

MBA in International Management (Full-time)

student bodyNumber of International students 2014-2015 70%

Postgraduate 50%

Average age of the students 23

Gender ratio 50:50 female:male

Nationality ratio 50:50 female:male

profile of the institution Established in 1819, ESCP Europe is the oldest business school

in the world. Our mission is to develop the next generation of

transnational business leaders, preparing them to embrace the

opportunities offered by cultural diversity.

With our six urban campuses in Berlin, London, Madrid, Paris, Turin

and Warsaw, ESCP Europe's true European Identity enables the

provision of a unique style of cross-cultural business education and

a Global Perspective on international management issues.

Mba prograMESCP Europe is the only business school to provide its Executive

MBA participants with the opportunity to study at five campuses

across Europe (Berlin, London, Madrid, Paris and Turin), as well as

in Beirut at its sister school ESA. This international positioning is

what makes the program unique: participants plan their education

in various countries, enjoying the benefits of both academic and

personal experiences.

aCCreditationEQUIS, AACSB, AMBA

rankingFinancial Times:

- Master in Management: №4

- Executive MBA: №12

typeMaster's programs: full time

Executive MBA: part time, full time

adMission requireMentsUniversity degree Bachelor

Language proficiency Fluent English

Recommendations Varies according to program

Some programs require

2 recommendations.

Working experience Master's: ranges from 0-2 years

Full time MBA 3 years

Executive MBA: 5 years

University entrance exams Varies according to program

Can be GMAT, GRE, Tage-Mage or

an ESCP Europe test (SHL)

Application fee Varies according to program.

Ranges from 120-170 euros.

Application deadlines Varies according to program.

Some have rolling admissions.

Most of the programmes start in

September.

tuition and fees (annual)Currency EUR

Tuition Varies according to program.

Masters: 13,000 to 24,500 euros per

year

Executive MBA: 56,000 euros

Residence Varies according to the city.

Ranges from 400-740 euro

per month

Transportation Varies according to the city.

Ranges from 30-60 euro

per month

Registration and other fees Meals: range from 180-270 euros

per month

Scholarships or Financial Aid Yes, based on financial need

or merit

23

24

It is important to note that we are talking about North America in general here, not just about the United States. If you look at the table below, it is easy to make such a mistake, because all of

the universities in the top 10 represent the US. In fact – to be more precise – the American domination goes on to 16th place, where Canada finally manages a breakthrough with the University of Toronto.

so… why Are AMeriCAn MBA progrAMs so sTrong inTernATionAlly? Don’t forget that we are only comparing them to Canada, which also has world class education and a strong economy, requiring highly skilled management professionals.

The QS’s Top MBA Ranking points out that “As the historical home of business schools, and MBA education, North America has always been an attractive prospect for employers to recruit MBAs from, with The Wharton School established in 1881 as the first ever collegiate business school, and Harvard Business School in the USA, which introduced the first MBA over a century ago.” Both of the mentioned education institutions are based in the US so we can assume that tradition can explain this phenomenon at least in part.

Another possible explanation is the so called “protestant" (or puritan) work ethics. Protestants, beginning with Martin Luther, reconceptualized worldly work as a duty which benefits both the individual and society as a whole. Thus, the Catholic idea of good works was transformed into an obligation to consistently work diligently. This worldview is what triggered the development of capitalism in the first place. In other words - hard work is not simply a necessity in order to get by, but also a sign of virtue.

The AdvAnTAges oF CAnAdAThe fact that Canadian business schools are ranked behind US-based ones, doesn’t necessarily mean that education there is not the best option for you. When applying for an MBA degree, one should consider their potential career development, personal interests and social contacts – thing that are not included in any ranking system.

Canada undoubtedly has beautiful natural scenery, a welcoming environment for international students a high quality of life for locals and foreigners alike. It is not surprising that researchers, scientists, and entrepreneurs have settled there and have helped develop Canada into one of the most intellectually stimulating places to learn.

An MBA in Canada will provide students with top-notch education making graduates highly sought after in the competitive business job market. MBA programs in Canada are often enhanced by internships, international exchanges, professional certifications, and specialization areas. In addition to core business coursework, students pursuing an MBA in Canada will focus on leadership and management, corporate social responsibility, sustainable innovation, and international business.

In 2015 Canadian media reported that applications from Canadian students were in decline following the economic crisis, and competition for the smaller pool of students was raging with hundreds of other MBA schools across the continent.

Top MBA programs in North America

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Rank University Country Overall score

1 Kellogg School of Management at Northwestern University USA 88.1

2 The Wharton School, University of Pennsylvania USA 84.6

3 Chicago Booth School of Business USA 84.3

4 UCLA Anderson School of Management USA 83.3

5 Columbia Business School, Columbia University USA 82.5

6 Haas School of Business USA 80.0

7 Yale School of Management USA 79.6

8 MIT Sloan School of Management USA 79.3

9 Stern School of Business, New York University USA 79.2

10 Fuqua School of Business, Duke University USA 76.5

11 Ross School of Business, University of Michigan USA 75.8

12 McCombs School, University of Texas at Austin USA 69.8

13 Cornell University USA 62.9

14 USC Marshall School of Business USA 62.5

15 Max M. Fisher College of Business, The Ohio State University USA 61.6

Източник: QS Global 100 EMBA Rankings 2017

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For decades, Asians interested in entering the best business schools had little choice but to head to the West. Now business schools throughout Asia are trying to become more competitive

with the top schools in the USA and Europe. As a part of that effort Asian business schools increasingly are partnering with one another or with schools from the West to offer more options to their students.

With the global economy in disarray, the competition to enter business schools is growing far more intense as students look to escape the limited job market and improve their chances of getting a well-paying position when the interconnected global recovers. So even though Asian schools are still no match yet for the semi-legendary names the western world, more and more Asian students are now looking to them as alternative places to get their MBAs.

where Are The Top MBA progrAMsIf you read the previous articles regarding MBA programs across the world, you would find the name of the most prestigious MBA university in Asia (according to QS Top MBA) familiar. It is INSEAD, which operates campuses in both France and Singapore. This will be a recurring theme in Asian business schools. The MBA programs in the east are largely influenced by western tradition, even many of the lecturers are westerners.

That is why countries like Singapore and Hong Kong (and yes, it is technically part of China, but largely independent when it comes to education) have particularly strong and prestigious MBA programs. We wouldn’t want to underestimate the diligence and entrepreneurial spirit of their people, but arguably their traditions in education are inherited from the British colonial empire.

new powers Are rising But enough about the East Asian city-states. Let’s discuss the big players in the region. Undoubtedly, in the foreseeable future we will be talking even more about countries like China and India. Their rapidly expanding economies will increase the demand for highly skilled professionals and managers, which – in turn – will stimulate the development of better MBA programs at local universities. This

means that the new global superpowers will eventually push out countries like Singapore, South Korea, Australia and Japan.

And Japan is already notably absent in the top 15. The country is pulled back by a persistent demographic and economic stagnation, which surely has its negative effects on the educational system.

Also – these ranking do not include the Middle East, which is usually regarded as a separate region. The oil-rich Arabian monarchies have been investing heavily in education, in apparent preparation for the time when the black gold runs out. Some of the best lecturers in the world have also been invited to the Gulf states and several British and American universities have set up affiliates in the region. However, the culture of those countries is radically different from what we are used to seeing in the West.

Top MBA programs in Asia

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Rank University Country Overall score

1 National University of Singapore Business School Singapore 64.3

2 Melbourne Business School Australia 58.6

3 Chinese University of Hong Kong Hong Kong 58.2

4 IVEY Business School Asia Hong Kong 58.2

5 Nanyang Business School Singapore 58.0

6 City U College of Business Hong Kong 49.3

7 RMIT University Australia 49.0

8 Antai College of Economics China 49.0

9 Fudan University School of Management China 44.9

10 Bond Business School Australia 43.5

Източник: QS Global 100 EMBA Rankings 2017