The range of M.B.A. programs in Moscow is wide and potentially overwhelming. It is essential to do your research before jumping to apply to a specific school. The factors to keep in mind are program length, costs, school reputation and the qualifications of professors. Prospective students should also consider the program’s accreditation and the language of teaching. Some schools in Moscow teach in English and issue internationally recognized diplomas.

One of the best investments you can make in yourself and your career is in your education. With a new semester approaching fast, it is time for aspiring M.B.A. students to do their research and choose a business school— and there is plenty of choice.

The M.B.A. is the main component of Western business education. Such programs are generally for people who already have some work experience and want to advance their careers in business applicants are usually expected to have a higher-education diploma. Certain schools also set age limits and require up to four years of professional experience. If classes are taught in English, a usual requirement for entrance is a pass at the TOEFL exam.

“We accept only 65 students per semester, and there are three applicants for each vacancy. So, the acceptance procedure is very serious: an application, TOEFL and math tests, followed by an interview, “ said Andrei Petrov, a vice-rector of Moscow-based California State University, Hayward. “It does not matter what kind of higher education you have received, as long as it is from an accredited university, but we really welcome people with at least a year of experience in business.”

Speaking on the importance of M.B.A. degrees, he expressed his belief that no respectable company will appoint a person without an M.B.A. to a top-managerial position.

In Russia, the Ministry of Education accepts M.B.A. degrees as a valid form of education. “The M.B.A. has the status of postgraduate education.” Petrov said.

Before choosing a particular school, it is important to first choose between Western and Russian M.B.A programs; the two systems are based on different standards. Western-M.B.A. providers claim that business and market-economy principles are the same in most countries and that Russian businesspeople can learn from the best practices of companies with more experience, while Russian-M.B.A. providers generally claim that taking into consideration Russian business specifics, such as Russian business laws and the Russian mentality, is a must.

It is also important to find out whether the business school being considered is qualified to offer M.B.A. degrees. “Since 1999, there has been a list of universities that have official permission to teach M.B.A. programs. Before choosing a school, one should make sure it is on the list. This will significantly limit the choice and make the searching process easier and more effective,” explained Yelena Chekunova, the marketing manager at the Higher Business School, one of the first state-run business schools in Russia.

The details of universities with the right to give state-accredited Russian diplomas can be received at the Governance of Additional Special Education. Besides, confirmation can be requested from the universities themselves.

In the case of programs that lead to international diplomas, there is another factor to consider — the kind of international accreditation the program can offer. For example, in the United States, the American Assembly of Collegiate Schools of Business plays a big role in accrediting business schools, while in Great Britain the Association of M.B.A.’s performs a similar role. The type of accreditation may affect enrollment rules, quality of instructors, subjects taught, the system of testing, and so forth.

Renee Lekach, a rector at Moscow University Touro, recommended paying attention to several factors when choosing an M.B.A. provider — accreditation, courses offered, instruction quality and the language in which courses are taught. For example, if it is an American degree, classes should be taught in English only and by American professors. “One should also find out whether there is a prerequisite Graduate Management Admissions Test (GMAT), as this may create additional difficulty in applying,” she added.

“But the best way is to get information, not from the education providers, but from the students themselves,” said Lekach, adding that potential candidates speak with program alumni. “Ideally, a candidate should also try to talk to an employer who has hired program graduates," she added.

The majority of educational facilities offer core classes that are compulsory for everyone, as well as electives students can select based on their interests and specialization. You can study full-time or take evening or weekend classes without leaving your job. The price for various programs usually ranges between $3,000 and $5,000 per academic year, with programs usually lasting from two to six semesters.

For example, the M.B.A. program at International Institute of Management LINK, the Russian partner of the British Open University Business School, costs $10,000 and takes three years to complete. The Academy of National Economics' two-year Russian program costs nearly $9,000. Moscow University Touro offers an accelerated, one-year M.B.A. program in cooperation with Dowling College, New York. The cost of the program is $10,000. LINK also offers a distance-learning program where students are provided with all the necessary study books and materials to complete assignments.

In International Institute of Management LINK’s distance-learning program, students meet once a month for tutorials. “At the seminars, students have the opportunity to apply the theoretical knowledge received when studying on their own, in role-playing games and practical situations,” said Tatyana Ignatieva, the university administrator.

An M.B.A. program differs from other types of education because it focuses not on theoretical knowledge, but on the practical application of this knowledge, which can be provided only by experienced businesspeople.

“Communication with the professors and other students is also important at such meetings,” Ignatieva added. “The students at our university are usually top managers, so business contacts can be made during the seminars. The English professors are also practicing businesspeople themselves, and often work as business consultants, so they are always willing to advise their students on concrete business situations taken from real life.”

The program also uses a so-called “field school,” where students spend five days studying abroad in England or Ireland, get additional opportunities to apply their knowledge in practice during business-related games and simulations and learn from the experience of foreign managers.

With the next semester fast approaching, it is time for aspiring M.B.A. students to do their research and choose a concrete business school. Given the costs and the time investment involved, the importance of making the right decision is difficult to overstate.