Steady Growth: GSOM St Petersburg University Still the Only Russian Business School in Financial Times Rankings
The Financial Times has published its rankings of the best business schools in Europe, “Financial Times European Business Schools 2018”. The Graduate School of Management at St Petersburg University has moved up five spots and is now in 52nd place.
Commenting on the results of these rankings, Andrey Kostin, Director of GSOM, St Petersburg University and President and Chairman of the Board of VTB Bank, noted that, year after year, the graduate school is slowly but surely improving its position in the rankings, thanks to the right development strategy and effective coordination with its academic and corporate partners.
We understand that it is incumbent on us, as the leaders in the field, to develop business education in our country. We need to stop borrowing wholesale from others and start creating and conceptualizing our own best management practices. This will help us learn about new managerial challenges and disseminate new managerial know-how, which will provide Russia with an economic leap forward. These are the words of the First Deputy Director of GSOM, St Petersburg University, Konstantin Krotov.
Overall, there are 95 business schools in this year’s Financial Times rankings. The newspaper evaluates them on the basis of their positions in the ratings of four different programmes: Master in Management, MBA (Master of Business Administration, EMBA (Executive MBA) and Executive Education. Three criteria are taken into consideration: where they place in the European list of rankings, the average salary of graduates three years after they finish their studies and the percentage by which it has increased from the moment they began training. The compilers of the rankings also look at such criteria as the percentage of teachers who are women (at GSOM, St Petersburg University it is 53 percent), the percentage of foreign teachers (4 percent) and the percentage of teachers with academic degrees (94 percent).
GSOM, St Petersburg University makes it into the Financial Times international rankings on a regular basis. For example, the Masters in Management programme has been in 23rd place in the world rankings of master’s programmes for two years in a row, and in 20th place in Europe. In addition to that, once again this year the figures rose for graduates of the Executive MBA programme at GSOM, St Petersburg University: their average salary three years after graduation came to $128, 676, and the increase in their salaries from the moment they began training was 44 percent.