Earning your MBA
Online Learning: Getting Your MBA Your Way
By Karen Lawson
karen.lawson@MBA-business-schools.com
MBA-business-schools Columnist
In today’s fast-paced business environment, you rarely have time to grab a cup of coffee, let alone acquire an MBA degree. You want to advance your career, but don’t have time to attend college. After considering some facts about distance education, you may want to earn your MBA degree online!
Distance Learning: A Growth Trend
As US corporate culture continues to demand more from us, many people are getting graduate degrees and professional certifications through online or distance learning programs. Once the domain of career and business oriented post secondary institutions, MBA degrees are offered online by more than half of all two to four year institutions. During the 2001-02 academic year, 52% of institutions offering traditional graduate/professional degrees also offered distance learning programs.
Do You Have what it Takes to Earn Your MBA Degree Online?
If you want to earn your MBA degree online, your success will greatly depend upon your ability to work independently. Although a benefit of online degree programs is that you can do your coursework at home, you must be able to devote a certain amount of time to your MBA degree program without distraction and interruptions. Learning online provides a certain amount of flexibility, but procrastination can be your worst enemy. As most any college student can tell you, waiting until the last minute to complete assignments is not the best way to earn any degree, much less an MBA. It’s a good idea to regard your online degree courses with the same dedication that you apply to your career.
Choose an Accredited Online MBA Degree Program
When you start looking for a distance learning program, make sure that the program you select is accredited. You can contact the school’s admissions department or academic counselors for more information. Get started today and enjoy the rewards of earning your MBA degree online!
Source
National Center for Educational Statistics
About the Author
Karen Lawson is a freelance writer whose interests include career education and trends in academia. She earned an MA degree in English from the University of Nevada, Reno.
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Earn Your MBA Degree with Part Time Study Options
by Karen Lawson
klawson@mba-business-schools.com
MBA-business-schools Columnist
As more working adults enroll in colleges and universities, the popularity of part time attendance and online courses is increasing. It’s now possible to earn your MBA degree through several flexible options:
Part time MBA programs on campus or online
low residency MBA programs
MBA correspondence courses
MBA Degrees for Working Professionals
Today, most MBA programs are designed with working professionals in mind. In many cases, it’s possible to complete most of your degree online, although you may need to visit your college or school to take examinations or to meet minimal residency requirements. You can also attend courses at a career oriented business school, where classes are offered evenings and weekends. MBA programs can be tailored to your needs and interests, and if your MBA degree program is related to your work, your employer may cover all or part of your tuition.
A Part Time MBA Degree Online: Tips for Success
Online part time MBA programs can be very convenient when you work full time, but it’s still important to schedule plenty of time to study and complete your coursework. In general, you can expect to spend several hours a week completing assignments for your courses. If you’re taking MBA courses online, remember to make backup copies of your assignments, as computers can crash unexpectedly. Although instructors may be flexible about due dates for assignments, it’s a good idea to submit your work according to your course schedule. It’s easy to fall behind, but it can be difficult to catch up at the end of the course! Choosing a part time MBA program when you work full time can be challenging, but the time you invest will be well worth it when you receive your MBA degree.
About the Author
Karen Lawson is a freelance writer based in the Western US. She has successfully completed several online college courses, and earned her MA degree in English from the University of Nevada, Reno.
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Is a Joint MBA Program Right For You?
More and more people are combining their MBA programs with other types of degree programs. Joint MBA and J.D. programs have been common for years now, allowing students to earn their MBA and their law degree at the same time, but nowadays students are joining MBA programs with more surprising types of degrees like International Relations Master’s degrees and Master’s of Public Health degrees. But are joint degrees worth the extra time and effort?
There was a time when it was clear — you want to go into business, you get an MBA. Anything else, find yourself another type of graduate school. Nowadays, though, many people see MBA programs not just as training for future business leaders, but as training for leaders in a range of fields, from politics to the not-for-profit sector to healthcare. MBA programs have responded by offering a greater diversity of courses, but students have also begun to carve out niches for themselves by combining the management training of their MBA degrees with more field-specific training in other degree programs, like education or international development. With so many joint degree programs out there, is an MBA alone enough? Should you be considering doubling up?
What’s so Great about Joint Degree Programs?
Let’s say you want to work in finance, but you also want to make sure you understand tax law and litigation so you can handle the legal side of business as well. Most joint J.D./MBA programs will allow you to earn your MBA and your law degree in four years instead of five. Joint degrees allow you to double count coursework, so you’ll save money and time, and come out with skills that could take you years to learn on the job.
Be Aware of the Sacrifices of Joint Programs
Joint MBA programs can give you the credentials to soar in your profession, but they’re not without tradeoffs. You may feel socially adrift, not quite part of your business school class, not quite part of your public health school class. And if you choose an uncommon joint degree, for instance a Master’s of Social Work degree and an MBA, you may find yourself feeling academically adrift too, working with professors at two different schools who aren’t quite sure what to do with you.
Know Your Purpose Before Jumping into a Joint MBA Program
Joint programs make a lot of sense if you know you want to work in a very specific field. For instance, a joint master’s of public policy and MBA degree will take you great places if you know you want to work for an economic development agency with a strong political advocacy bent. If the purpose of a joint degree isn’t clear to you, however, you may be unnecessarily saddling yourself with a lot of extra work and the extra expense of another year or two of school. You’re likely to be better off exploring your interests through courses within your MBA program or through on-the-job experiences.
Joint MBA degrees are worth a look, but don’t forget that an MBA degree on its own is still an outstanding credential.
A Look at the Nation's Top Ten Business Schools
Each year in October, Business Week prepares a list of the top business schools in the nation. The schools are selected based on a myriad of attributes. They represent the most sought after programs among MBA candidates. One commonality is that the universities listed all focus on providing diverse teaching methods applicable to today’s business.
Usually in first place, Northwestern’s Kellogg Graduate School of Business is celebrated for its innovative, real world approach to educating future business leaders. Their target students are mid-level executives, with some experience in the working work seeking a higher level of global business awareness. Recently opening a branch in Miami Florida, the University offers an EMBA (Executive MBA) program directed at diversity.
Other schools on the Business Week top business school list (in order of 2004 standings) include:
University of Chicago Graduate School of Business
Penn’s Wharton School of Business
Stanford University Graduate School of Business
Harvard University Graduate School of Business
University of Michigan Ross School of Business
Cornell University’s Johnson School of Management
Columbia University Graduate school of Business
MIT Sloan School of Management
Dartmouth Tuck School of Business
The University of Chicago GSB, offers a global program taught in their new International MBA building. While focusing on student needs for flexibility, they offer a 22 month program, full time, evening /weekend and an Executive MBA directed at the future career path of the experienced management candidate. Limited to only 80 students per year, the program is taught in Chicago, London and Singapore.
The Wharton School of Business at the University of Pennsylvania has one of the fastest MBA programs in the country. Topping out at 18 months, this program is focused on a ‘rigorous general management’ curriculum, according to their website and students can expect an intense, real business experience. Wharton has been in the MBA business since 1921. In the last twenty years Wharton has developed and refined their distinguished Lauder Community (named for Joseph Lauder, founder of the Estee-Lauder Companies) to develop global business leaders. With a focus on fluent development of culture, language and politics of world business, this program was started to groom the world’s future business leaders.
Stanford University has long been heralded as a trend setting institution. Marketing their program as the ultimate in Organizational Leadership, they offer a standard two-year MBA program and a one- year Sloan Fellowship. The Sloan fellowship is a fully sponsored program in which a company enrolls their future leaders while maintaining their position at the company. The program is meant to test the limits of students and instructors. Sloan graduates are rewarded with a Masters of Science in Management in just twelve months.
Harvard Business School, HBS as it is referred to by staff and students attacks an MBA with a five pronged program. Integrating General Management, Case Study, Global Reaching, Community involvement and Harvard’s outstanding campus, they bring MBA students a new lease on their world.
The University of Michigan offers three types of programs for Students. At the Eli Broad School of Management located on the main campus, the university provides a state of the art financial analysis laboratory. Its design is modeled after the floor of the actual stock exchange including free flow workstations, a ticker board and large plasma display screens. They also offer a 17 month weekend program at their new James B. Henry Center for Executive Development. This program revolving around term learning and advancement for working executives brings future leaders to the forefront. The University also taunts the second oldest EMBA program in the nation lasting 21 months which is taught on the campus at Troy.
Wednesday, April 23, 2008
MBA
MBA
The International MBA program at IE Business School is aimed at postgraduates who have excelled in their studies and professional activities in a wide range of fields and who seek either to give themselves a head start in their career or re-route their professional futureIE Business School's objective is to train leaders in entrepreneurship and business management - leaders who direct and guide business organisations in this competitive and dynamic global environment, create change, uphold ethics and values, and encourage innovation without losing sight of professional and personal ethicsTo achieve this objective, the IMBA programme equips students with a sound working knowledge of the most innovative business management techniques and immerses the students in practical learning processes designed to nurture the managerial skills essential for a successful career. Unlike the standard two-year MBA format of most other business schools, the IE Business School format (one year) minimises time away from direct contact with business realities. The IE Business School experience is intense. From day one, participants work in teams, discuss real cases, distribute tasks and functions, analyse data and take decisions. Hence, on completion of the programme, IE Business School graduates are equipped to play a valuable role in work teams and take key decisions from the moment they rejoin the corporate world. The pace of change in the international business world is accelerating on a daily basis, creating ever-increasing demands on managers. These managers must be competent, highly-trained, efficient professionals, capable of leadership, communication and assuming major responsibilities, all within an ethical and international context. The numerous changes taking place in society have made our mission more intense and exciting - we rise to the challenge of upholding our firm commitment to the pursuit of excellence.That is why we seek dynamic and committed people capable of living the IE Business School experience through a year. This experience goes way beyond the learning process and includes an array of extracurricular activities and networking that builds the IE community spirit - something extremely valuable for the rest of your life. International MBA candidates are motivated people - entrepreneurial business leaders who take initiative. IE Business School's International MBA distinguishes itself in the following key ways
Nearly eighty percent of top executives polled in a recent survey said that earning a graduate degree in business is important for those who want to obtain top management positions in most companies. The truth is that as the world moves toward a more corporate and service-oriented economy, earning an MBA becomes an effective way of not only ensuring your employment, but also ensuring your success and marketability an ever evolving job market. As businesses have continued to be impressed with abilities and accomplishments of MBA graduates, the MBA degree has become much more popular. But is an MBA really worth the extra years of schooling that are required -- especially when you could be spending that time working? The numbers indicate that the answer is most likely yes. A recent survey of accounting/financial workers of varying skill and seniority levels found that CFOs without a formal degree had an average salary of only $38,920, those with a Bachelors Degree earned up to $88,836, while MBAs with relevant experience earned an average of $104,284. The return on investment for an MBA certainly appears worthwhile.
Most MBA programs regardless of the major focus will provide you with training in basic business principle needed by any business manager including, corporate finance, economics, strategic planning, marketing, basic accounting, etc. However, if you know which career field you are interested in, selecting a specific MBA focus will allow you to specialize and better prepare yourself for your career. This means you won't just learn the basis of corporate finance, but rather advance corporate, investment finance, financial accounting and financial markets which will make you much more marketable as a financial analyst or banker. The flip side to earning a specialized MBA is that it make be difficult to change career fields if you change your mind down the road. The following are different types of MBA programs.
Where you decide to pursue a general MBA or a specific specilization earning an MBA in any field is an excellent option - especially for students hoping to land excellent jobs once they graduate. Research indicates that individuals with an MBA tend to move up the promotion ladder much quicker than those without the degree. Not only that, but most employees possessing an MBA on average earn more than their lesser-educated contemporaries. These statistics should come as no surprise given the fact that MBA graduates are in high demand at multi-million dollar companies throughout the world.
MBA graduates aren't the only people who benefit from and MBA. Students earning their earning their degree can also benefit while still attending school. Due to the fact that graduates are in such high demand, many companies have been known to hire students still earning their MBAs in order to better ensure future services. These students are often treated exactly like their MBA carrying colleagues, and thus receive all or most of the MBA benefits bestowed by these companies.
Finally, earning MBA is an ideal networking opportunity for those interesting in obtaining a career with large corporations in many different industries. Most reputable MBA programs have relationships with local business, business leaders and community leaders who have connections high up. Almost as valuable as the degree itself are the connections that are made while earning an MBA.
We believe earning an MBA is a good idea for anyone interested in a successful business career. In fact, we are loath to think of any reason not to pursue an MBA - the benefits are just too good to pass up. If you have any questions about MBA Programs, the GMAT, or how to find a good graduate school, don't hesitate to contact us.
The International MBA program at IE Business School is aimed at postgraduates who have excelled in their studies and professional activities in a wide range of fields and who seek either to give themselves a head start in their career or re-route their professional futureIE Business School's objective is to train leaders in entrepreneurship and business management - leaders who direct and guide business organisations in this competitive and dynamic global environment, create change, uphold ethics and values, and encourage innovation without losing sight of professional and personal ethicsTo achieve this objective, the IMBA programme equips students with a sound working knowledge of the most innovative business management techniques and immerses the students in practical learning processes designed to nurture the managerial skills essential for a successful career. Unlike the standard two-year MBA format of most other business schools, the IE Business School format (one year) minimises time away from direct contact with business realities. The IE Business School experience is intense. From day one, participants work in teams, discuss real cases, distribute tasks and functions, analyse data and take decisions. Hence, on completion of the programme, IE Business School graduates are equipped to play a valuable role in work teams and take key decisions from the moment they rejoin the corporate world. The pace of change in the international business world is accelerating on a daily basis, creating ever-increasing demands on managers. These managers must be competent, highly-trained, efficient professionals, capable of leadership, communication and assuming major responsibilities, all within an ethical and international context. The numerous changes taking place in society have made our mission more intense and exciting - we rise to the challenge of upholding our firm commitment to the pursuit of excellence.That is why we seek dynamic and committed people capable of living the IE Business School experience through a year. This experience goes way beyond the learning process and includes an array of extracurricular activities and networking that builds the IE community spirit - something extremely valuable for the rest of your life. International MBA candidates are motivated people - entrepreneurial business leaders who take initiative. IE Business School's International MBA distinguishes itself in the following key ways
Nearly eighty percent of top executives polled in a recent survey said that earning a graduate degree in business is important for those who want to obtain top management positions in most companies. The truth is that as the world moves toward a more corporate and service-oriented economy, earning an MBA becomes an effective way of not only ensuring your employment, but also ensuring your success and marketability an ever evolving job market. As businesses have continued to be impressed with abilities and accomplishments of MBA graduates, the MBA degree has become much more popular. But is an MBA really worth the extra years of schooling that are required -- especially when you could be spending that time working? The numbers indicate that the answer is most likely yes. A recent survey of accounting/financial workers of varying skill and seniority levels found that CFOs without a formal degree had an average salary of only $38,920, those with a Bachelors Degree earned up to $88,836, while MBAs with relevant experience earned an average of $104,284. The return on investment for an MBA certainly appears worthwhile.
Most MBA programs regardless of the major focus will provide you with training in basic business principle needed by any business manager including, corporate finance, economics, strategic planning, marketing, basic accounting, etc. However, if you know which career field you are interested in, selecting a specific MBA focus will allow you to specialize and better prepare yourself for your career. This means you won't just learn the basis of corporate finance, but rather advance corporate, investment finance, financial accounting and financial markets which will make you much more marketable as a financial analyst or banker. The flip side to earning a specialized MBA is that it make be difficult to change career fields if you change your mind down the road. The following are different types of MBA programs.
Where you decide to pursue a general MBA or a specific specilization earning an MBA in any field is an excellent option - especially for students hoping to land excellent jobs once they graduate. Research indicates that individuals with an MBA tend to move up the promotion ladder much quicker than those without the degree. Not only that, but most employees possessing an MBA on average earn more than their lesser-educated contemporaries. These statistics should come as no surprise given the fact that MBA graduates are in high demand at multi-million dollar companies throughout the world.
MBA graduates aren't the only people who benefit from and MBA. Students earning their earning their degree can also benefit while still attending school. Due to the fact that graduates are in such high demand, many companies have been known to hire students still earning their MBAs in order to better ensure future services. These students are often treated exactly like their MBA carrying colleagues, and thus receive all or most of the MBA benefits bestowed by these companies.
Finally, earning MBA is an ideal networking opportunity for those interesting in obtaining a career with large corporations in many different industries. Most reputable MBA programs have relationships with local business, business leaders and community leaders who have connections high up. Almost as valuable as the degree itself are the connections that are made while earning an MBA.
We believe earning an MBA is a good idea for anyone interested in a successful business career. In fact, we are loath to think of any reason not to pursue an MBA - the benefits are just too good to pass up. If you have any questions about MBA Programs, the GMAT, or how to find a good graduate school, don't hesitate to contact us.
UK MBA school rank
UK MBA school rank
In October - November 2000 we carried out some research into UK MBA schools. We wanted to know what were the relative reputations of MBA schools across the UK. This meant not just the top MBA programmes but also the good national MBA schools as well. We researched MBA recruiters (in house and agency) and MBA graduates and candidates. The ratings from this survey (and a comparison with the FT 2001 research) are repeated in this commentary and are also available UK MBA RANKINGS as a single table.
In this report, we've divided up the rankings into a number of divisions. The first is that of business schools which have a truly international reputation.
Tier 1: Schools with european or top national reputations
Below LBS in the UK tables are the schools with excellent national and wider European reputations but which are less well known outside Europe. The key schools in this second tier in the UK are Cranfield, Imperial, Warwick and Manchester. These schools often have especially good reputations for key areas, such as Cranfield (manufacturing and marketing) and Imperial (research). Based on anecdotal reports the marketing modules at Cranfield are at least equal to those at LBS.
The other schools in this tier are City, Oxford (Said), Cambridge (Judge), Ashridge, Henley, and Edinburgh University. Our research here shows differences from the FT research which places Oxford (Said) and Edinburgh (at 2nd and 6th respectively) within the key schools in this tier. For this reason we have combined these schools into this second tier. Both schools performed well in our research (7th and 11th respectively) and we've heard some very good comments on the Edinburgh MBA. But we're surprised that Oxford's Said school has been rated as the 2nd best in the UK. It's a good course, but has only recently started and it still seems to early to have earned this position.
The schools in the bottom half of this tier all offer very good quality education, but for those of you looking for "calling card" MBAs they won't offer the recognition (especially at the international level) of schools higher up the rankings.
Some of the schools in this list are also well known for particular areas. To take one example City University offers a range of MBAs (including specialist MBAs in subjects such as marketing) and has very strong links to financial institutions in the City of London.
As mentioned above, we believe it is possible that the rankings of some schools, such as Oxford and Cambridge and perhaps Bristol, may have been boosted by a number of factors. While doubtless offering excellent courses it is possible that the placings have been boosted by the recruiting policies of some major recruiters (such as McKinsey who have the Oxbridge business schools on their preferred list) and also by their deserved reputation in other areas. Overall we think it's still too early to properly evaluate the quality and true ranking of the MBAs from both Oxford and Cambridge. The Bristol MBA has been "transfered" to Edinburgh University Management School so while the Bristol MBA appears in our research Bristol appears to have no further plans to offer their own MBA.
Tier 2: Good National MBA Schools
Tier three schools are similar in both research studies. Our research indicates that Leeds, Sheffield, Bristol (see above), Lancaster, Bradford, Strathclyde, Kingston, Oxford Brookes, Bath, Newcastle, Durham, Exeter, Manchester Metro, Nottingham Trent, Southampton, and Sheffield Hallam all rank in this tier. The FT research shows a similar picture, as can be seen from the FT rankings alongside our own. The FT research also included Nottingham University, which we were surprised not to see in our own research.
While no new universities (former polytechnics) appeared in the FT research a number showed up in ours, the highest placed being Kingston (18th) and Oxford Brookes (19th).
MBA programs in Australia
The following is a listing of MBA programs in Australia, totalling 33 schools. Rankings for Australian MBA programs can also be found on our site RANKING OF AUSTRALIAN MBA PROGRAMS
Each entry gives the address, (local) telephone contact number, the city or cities in which the MBA program runs, the length of the MBA program with start dates, the country and the course format. The latter is shown by MBA FT for full time course, MBA PT for part time and MBA EX for executive courses. Where the business school offers only a specialised MBA, or offers specialised MBA programs in addition to general management, this is also shown.
In October - November 2000 we carried out some research into UK MBA schools. We wanted to know what were the relative reputations of MBA schools across the UK. This meant not just the top MBA programmes but also the good national MBA schools as well. We researched MBA recruiters (in house and agency) and MBA graduates and candidates. The ratings from this survey (and a comparison with the FT 2001 research) are repeated in this commentary and are also available UK MBA RANKINGS as a single table.
In this report, we've divided up the rankings into a number of divisions. The first is that of business schools which have a truly international reputation.
Tier 1: Schools with european or top national reputations
Below LBS in the UK tables are the schools with excellent national and wider European reputations but which are less well known outside Europe. The key schools in this second tier in the UK are Cranfield, Imperial, Warwick and Manchester. These schools often have especially good reputations for key areas, such as Cranfield (manufacturing and marketing) and Imperial (research). Based on anecdotal reports the marketing modules at Cranfield are at least equal to those at LBS.
The other schools in this tier are City, Oxford (Said), Cambridge (Judge), Ashridge, Henley, and Edinburgh University. Our research here shows differences from the FT research which places Oxford (Said) and Edinburgh (at 2nd and 6th respectively) within the key schools in this tier. For this reason we have combined these schools into this second tier. Both schools performed well in our research (7th and 11th respectively) and we've heard some very good comments on the Edinburgh MBA. But we're surprised that Oxford's Said school has been rated as the 2nd best in the UK. It's a good course, but has only recently started and it still seems to early to have earned this position.
The schools in the bottom half of this tier all offer very good quality education, but for those of you looking for "calling card" MBAs they won't offer the recognition (especially at the international level) of schools higher up the rankings.
Some of the schools in this list are also well known for particular areas. To take one example City University offers a range of MBAs (including specialist MBAs in subjects such as marketing) and has very strong links to financial institutions in the City of London.
As mentioned above, we believe it is possible that the rankings of some schools, such as Oxford and Cambridge and perhaps Bristol, may have been boosted by a number of factors. While doubtless offering excellent courses it is possible that the placings have been boosted by the recruiting policies of some major recruiters (such as McKinsey who have the Oxbridge business schools on their preferred list) and also by their deserved reputation in other areas. Overall we think it's still too early to properly evaluate the quality and true ranking of the MBAs from both Oxford and Cambridge. The Bristol MBA has been "transfered" to Edinburgh University Management School so while the Bristol MBA appears in our research Bristol appears to have no further plans to offer their own MBA.
Tier 2: Good National MBA Schools
Tier three schools are similar in both research studies. Our research indicates that Leeds, Sheffield, Bristol (see above), Lancaster, Bradford, Strathclyde, Kingston, Oxford Brookes, Bath, Newcastle, Durham, Exeter, Manchester Metro, Nottingham Trent, Southampton, and Sheffield Hallam all rank in this tier. The FT research shows a similar picture, as can be seen from the FT rankings alongside our own. The FT research also included Nottingham University, which we were surprised not to see in our own research.
While no new universities (former polytechnics) appeared in the FT research a number showed up in ours, the highest placed being Kingston (18th) and Oxford Brookes (19th).
MBA programs in Australia
The following is a listing of MBA programs in Australia, totalling 33 schools. Rankings for Australian MBA programs can also be found on our site RANKING OF AUSTRALIAN MBA PROGRAMS
Each entry gives the address, (local) telephone contact number, the city or cities in which the MBA program runs, the length of the MBA program with start dates, the country and the course format. The latter is shown by MBA FT for full time course, MBA PT for part time and MBA EX for executive courses. Where the business school offers only a specialised MBA, or offers specialised MBA programs in addition to general management, this is also shown.
The Multilateral Debt Relief Initiative (MDRI)
The Multilateral Debt Relief Initiative (MDRI) provides for 100 percent relief on eligible debt from three multilateral institutions to a group of low-income countries. The initiative is intended to help them advance toward the United Nations' Millennium Development Goals (MDGs), which are focused on halving poverty by 2015.
What is the Multilateral Debt Relief Initiative (MDRI)?
In June 2005, the Group of 8 (G-8) major industrial countries proposed that three multilateral institutions—the IMF, the International Development Association (IDA) of the World Bank, and the African Development Fund (AfDF)—cancel 100 percent of their debt claims on countries that have reached, or will eventually reach, the completion point under the joint IMF-World Bank enhanced Initiative for Heavily Indebted Poor Countries (HIPC Initiative). The HIPC Initiative entailed coordinated action by multilateral organizations and governments to reduce to sustainable levels the external debt burdens of the most heavily indebted poor countries. The MDRI goes further by providing full debt relief so as to free up additional resources to help these countries reach the MDGs. Unlike the HIPC Initiative, the MDRI does not propose any parallel debt relief on the part of official bilateral or private creditors, or of multilateral institutions beyond the IMF, IDA, and the AfDF. However, in early 2007, the Inter-American Development Bank also decided to provide similar debt relief to the five HIPCs in the Western Hemisphere.
How is the IMF implementing the MDRI?
Although the MDRI is an initiative common to several international financial institutions, the decision to grant debt relief is ultimately the separate responsibility of each institution, and the approach to coverage and implementation may vary. In deciding to implement the MDRI, the IMF Executive Board modified the original G-8 proposal to fit the requirement, specific to the IMF, that the use of the IMF’s resources be consistent with the principle of uniformity of treatment. Thus, it was agreed that all countries with per-capita income of US$380 a year or less (whether HIPCs or not) will receive MDRI debt relief financed by the IMF’s own resources through the MDRI-I Trust. HIPCs with per capita income above that threshold will receive MDRI relief from bilateral contributions administered by the IMF through the MDRI-II Trust.
MDRI relief covers the full stock of debt owed to the IMF at end-2004 that remains outstanding at the time the country qualifies for such relief. There is no provision for relief of debt disbursed after January 1, 2005.
Which countries are eligible for the MDRI? Which have already qualified?
All countries that reach the completion point under the enhanced Initiative for Heavily Indebted Poor Countries (HIPC Initiative), and those with per capita income below US$380 and outstanding debt to the Fund at end-2004, are eligible for the MDRI. The list of eligible countries is detailed in Table 1.
In December 2005, IMF staff assessed whether the group of 20 countries that were already eligible according to the criteria explained above effectively qualified for MDRI relief. To qualify, the IMF Executive Board required that these countries be current on their obligations to the IMF and demonstrate satisfactory performance in (1) macroeconomic policies; (2) implementation of a poverty reduction strategy; and (3) public expenditure management. The Board determined that 19 countries qualified for immediate MDRI relief. They included 17 HIPCs that had reached the completion point, and two non-HIPC countries whose per capita income was below the established threshold. These countries benefited from MDRI relief in January 2006. Following the implementation of corrective actions, Mauritania qualified for and received MDRI relief in June 2006.
Countries that have not yet reached the completion point under the HIPC Initiative will qualify for MDRI relief upon reaching the completion point. That was the case of Cameroon (April 2006), Malawi (September 2006), Sierra Leone (December 2006), and São Tomé and Príncipe in March 2007. In all, 24 countries have qualified for, and received MDRI relief from the Fund.
How much debt relief will be provided by the Fund?
The estimate of the total cost to the IMF of MDRI debt relief and remaining HIPC Initiative assistance, at end-December 2005, is around SDR 5.3 billion (about US$8 billion; figures are in end-2005 NPV terms). Of this amount, SDR 2.7 billion (equivalent to US$3.9 billion) has been delivered as of end-May 2007.
The G-8 has committed to ensure that proposed debt forgiveness does not undermine the ability of the three multilateral institutions to continue to provide financial support to low-income countries, nor the institutions’ overall financial integrity. In this context, the G-8 has provided SDR 100 million (in end-2005 NPV terms) to the IMF as additional subsidy resources for PRGF-ESF lending in the wake of the MDRI. Additional contributions will be needed to cover the cost of HIPC Initiative and MDRI debt relief to newly identified HIPCs and to countries with protracted arrears to the IMF. In this context, the G-8 committed that donors will provide the extra resources necessary for full debt relief for these countries.
Follow-up and monitoring
The IMF and the World Bank are cooperating closely in the implementation and monitoring of the MDRI, particularly as regards assessing qualification for MDRI relief and monitoring MDG-related spending after provision of debt relief. The first progress report on the IMF’s implementation of the MDRI was presented to the IMF Board in April 2006. The second report was prepared with the Bank and folded into the regular joint Bank-Fund HIPC Initiative status of implementation report. It was discussed by the Fund’s Board in September 2006.
What is the Multilateral Debt Relief Initiative (MDRI)?
In June 2005, the Group of 8 (G-8) major industrial countries proposed that three multilateral institutions—the IMF, the International Development Association (IDA) of the World Bank, and the African Development Fund (AfDF)—cancel 100 percent of their debt claims on countries that have reached, or will eventually reach, the completion point under the joint IMF-World Bank enhanced Initiative for Heavily Indebted Poor Countries (HIPC Initiative). The HIPC Initiative entailed coordinated action by multilateral organizations and governments to reduce to sustainable levels the external debt burdens of the most heavily indebted poor countries. The MDRI goes further by providing full debt relief so as to free up additional resources to help these countries reach the MDGs. Unlike the HIPC Initiative, the MDRI does not propose any parallel debt relief on the part of official bilateral or private creditors, or of multilateral institutions beyond the IMF, IDA, and the AfDF. However, in early 2007, the Inter-American Development Bank also decided to provide similar debt relief to the five HIPCs in the Western Hemisphere.
How is the IMF implementing the MDRI?
Although the MDRI is an initiative common to several international financial institutions, the decision to grant debt relief is ultimately the separate responsibility of each institution, and the approach to coverage and implementation may vary. In deciding to implement the MDRI, the IMF Executive Board modified the original G-8 proposal to fit the requirement, specific to the IMF, that the use of the IMF’s resources be consistent with the principle of uniformity of treatment. Thus, it was agreed that all countries with per-capita income of US$380 a year or less (whether HIPCs or not) will receive MDRI debt relief financed by the IMF’s own resources through the MDRI-I Trust. HIPCs with per capita income above that threshold will receive MDRI relief from bilateral contributions administered by the IMF through the MDRI-II Trust.
MDRI relief covers the full stock of debt owed to the IMF at end-2004 that remains outstanding at the time the country qualifies for such relief. There is no provision for relief of debt disbursed after January 1, 2005.
Which countries are eligible for the MDRI? Which have already qualified?
All countries that reach the completion point under the enhanced Initiative for Heavily Indebted Poor Countries (HIPC Initiative), and those with per capita income below US$380 and outstanding debt to the Fund at end-2004, are eligible for the MDRI. The list of eligible countries is detailed in Table 1.
In December 2005, IMF staff assessed whether the group of 20 countries that were already eligible according to the criteria explained above effectively qualified for MDRI relief. To qualify, the IMF Executive Board required that these countries be current on their obligations to the IMF and demonstrate satisfactory performance in (1) macroeconomic policies; (2) implementation of a poverty reduction strategy; and (3) public expenditure management. The Board determined that 19 countries qualified for immediate MDRI relief. They included 17 HIPCs that had reached the completion point, and two non-HIPC countries whose per capita income was below the established threshold. These countries benefited from MDRI relief in January 2006. Following the implementation of corrective actions, Mauritania qualified for and received MDRI relief in June 2006.
Countries that have not yet reached the completion point under the HIPC Initiative will qualify for MDRI relief upon reaching the completion point. That was the case of Cameroon (April 2006), Malawi (September 2006), Sierra Leone (December 2006), and São Tomé and Príncipe in March 2007. In all, 24 countries have qualified for, and received MDRI relief from the Fund.
How much debt relief will be provided by the Fund?
The estimate of the total cost to the IMF of MDRI debt relief and remaining HIPC Initiative assistance, at end-December 2005, is around SDR 5.3 billion (about US$8 billion; figures are in end-2005 NPV terms). Of this amount, SDR 2.7 billion (equivalent to US$3.9 billion) has been delivered as of end-May 2007.
The G-8 has committed to ensure that proposed debt forgiveness does not undermine the ability of the three multilateral institutions to continue to provide financial support to low-income countries, nor the institutions’ overall financial integrity. In this context, the G-8 has provided SDR 100 million (in end-2005 NPV terms) to the IMF as additional subsidy resources for PRGF-ESF lending in the wake of the MDRI. Additional contributions will be needed to cover the cost of HIPC Initiative and MDRI debt relief to newly identified HIPCs and to countries with protracted arrears to the IMF. In this context, the G-8 committed that donors will provide the extra resources necessary for full debt relief for these countries.
Follow-up and monitoring
The IMF and the World Bank are cooperating closely in the implementation and monitoring of the MDRI, particularly as regards assessing qualification for MDRI relief and monitoring MDG-related spending after provision of debt relief. The first progress report on the IMF’s implementation of the MDRI was presented to the IMF Board in April 2006. The second report was prepared with the Bank and folded into the regular joint Bank-Fund HIPC Initiative status of implementation report. It was discussed by the Fund’s Board in September 2006.
Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative
Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative
The HIPC Initiative is a comprehensive approach to debt reduction for heavily indebted poor countries pursuing IMF- and World Bank-supported adjustment and reform programs. To date, debt reduction packages have been approved for 30 countries, 25 of them in Africa, providing US$35 billion (net present value terms as of the decision point) in debt-service relief over time. Ten additional countries are potentially eligible for HIPC Initiative assistance and may wish to avail themselves of this debt relief.
The HIPC Initiative is a comprehensive approach to debt reduction for heavily indebted poor countries pursuing IMF- and World Bank-supported adjustment and reform programs. To date, debt reduction packages have been approved for 30 countries, 25 of them in Africa, providing US$35 billion (net present value terms as of the decision point) in debt-service relief over time. Ten additional countries are potentially eligible for HIPC Initiative assistance and may wish to avail themselves of this debt relief.
Debt
Debt
Debt is that which is owed; usually referencing assets owed, but the term can cover other obligations. In the case of assets, debt is a means of using future purchasing power in the present before a summation has been earned. Some companies and corporations use debt as a part of their overall corporate finance strategy.
A debt is created when a creditor agrees to lend a sum of assets to a debtor. In modern society, debt is usually granted with expected repayment; in many cases, plus interest. Historically, debt was responsible for the creation of indentured servants.
In modern economies money is created out of nothing by the banking system and so the question arises as to whether there is any justification for interest (as distinct from administration cost) certainly in the case of investment for capital projects. Binary economics queries the need for interest in such circumstances particularly as it leads to unnecessary increase in the levels of debt.
Debt is that which is owed; usually referencing assets owed, but the term can cover other obligations. In the case of assets, debt is a means of using future purchasing power in the present before a summation has been earned. Some companies and corporations use debt as a part of their overall corporate finance strategy.
A debt is created when a creditor agrees to lend a sum of assets to a debtor. In modern society, debt is usually granted with expected repayment; in many cases, plus interest. Historically, debt was responsible for the creation of indentured servants.
In modern economies money is created out of nothing by the banking system and so the question arises as to whether there is any justification for interest (as distinct from administration cost) certainly in the case of investment for capital projects. Binary economics queries the need for interest in such circumstances particularly as it leads to unnecessary increase in the levels of debt.
European Master of Business Administration (MBA)
European Master of Business Administration (MBA) graduates of the training institutions are faced with an increasing number of employment opportunities
Education officials say, European Master of Business Administration (MBA) graduates of the training institutions are faced with an increasing number of employment opportunities. Due to the rapid economic development of India enterprise managers have enjoyed great demand, enterprise recruitment of such graduates is the competition is becoming more intense. This has forced many companies to look to catch up with those who are small and medium-sized business school. London MBA Association (Association of M.B.A.s) CEO Dannite &S226; Purcell ( Jeanette Purcell) recently told "The Wall Street Journal" on the MBA graduates in the job market problems. This 40-year history of the association in the eyes of the people is a major accreditation bodies, Its 127 members are accredited business school. These business schools, mostly in Europe, but there are also third in South America, Africa, Australia, New Zealand and Hong Kong. Following is the transcript : "Wall Street Journal" (hereinafter referred WSJ) : This year's MBA graduates battle situation? Purcell : Only two years ago, these graduates employment opportunities is far from ideal. But the signs have shown that the enterprise recruitment of MBA graduates of the battle is heating up. These recruits said they MBA graduates this year's recruitment will increase 10% to 20%. Chinese and Indian enterprises are willing to recruit MBA graduates. While their salary levels it is difficult to satisfy the appetite of European students, but as a new MBA graduates of the source of demand, They add this type of talent contention. A recruitment officer recently said to me, enterprises are competing with the MBA student in the early contact. It was also said to me, Some enterprises even with those efforts are expected to top business school MBA education for the students contacted. I think this is very normal, because it shows businesses are not concerned about those students can learn anything. In their view, as long as you can into the School of Business study, he is a good kind of. In my view, this highlights the right of enterprises for the MBA degree graduates. WSJ : Enterprise MBA graduates to set up a remuneration how high? Purcell : in 2006 against 10,000 MBA graduates in a survey, These were the average starting salary 65, 000 pounds (about 130,000 U.S. dollars), compared to the previous year's 65. £ 600 Low 1.3%. This is only the basic wage, do not include variable income. The survey also indicated that MBA students after graduation than their average starting salary for entry before the higher salaries 20%. WSJ : to provide signing bonuses of how kind? Purcell : We have taken note of enterprises to encourage MBA graduates to spend a contract with the capital increase, specific expenditure patterns granted signing bonuses and performance-linked bonuses and stock options provided. WSJ : What industry needs more MBA graduates? Purcell : Advisory enterprises seem to increase their capacity to recruit MBA graduates. We note that there are more MBA graduates to the financial and advisory two traditional areas of employment outside of work. MBA graduates have started to public services, the pharmaceutical and health care industry. WSJ : enterprises this year will be getting enough of MBA graduates? Purcell : I think so long as they do not look only stare in their importance to the few business school case, there would not be such a problem. We should not ignore the growing number of part-time MBA graduates. WSJ : What are the unique Indian MBA graduates employment trends? Purcell : In India, the supply of MBA graduates. Employers and good education background have MBA degrees senior managers who have a strong demand, India to train such personnel can not meet the needs of economic development. I could not tell how China is a situation, but I guess with the situation in India is the same. The next two years, we have embarked on the School of Business certification process is the key areas of China and India. WSJ : European MBA graduates of the professional level which is higher or lower? Purcell : I can only say that the European business school has established a good reputation. Recruits are increasingly European MBA training institutions as a future staff rich source but their eyes are no longer simply focused on the European Institute of Business Administration (Insead) and the London Business School (Lond on Business School), and other prestigious schools. WSJ : The United States and the European MBA graduates is the biggest difference? Purcell : European Business School MBA graduates often have a global outlook and good language ability, they are more willing to other localities to work and travel. These advantages attractive to employers. Here did little to belittle American MBA graduates mean, However, the European MBA graduates actually pay more attention to their leadership and interpersonal skills training. These are precisely the employers are fond of. Furthermore, the European MBA training institutions of international students more color, the students are likely to come from 40 countries. In such an environment the students are learning a valuable experience. WSJ : You have been in the recruitment of MBA graduates are recruited and the way the candidates found some new trend? Purcell : Recruitment of staff is increasingly paying attention to the second category of the School of Business, Such business school is to cultivate a very high quality students. The employment of these institutions students of the enterprise often means that the best investment in human resources. These students usually pay requirements will not be too high. Another trend is that the recruitment of staff noted that MBA graduates for their career and promotion prospects are taking a more realistic attitude. They are fond of learning and development opportunities, and one of the last century to the late 1990s MBA graduates slightly different, The latter only stare at the highest vision, because they think that they have the qualifications. WSJ : technological progress of the recruitment of MBA graduates work influential? Purcell : those who will be a first-class business school student profiles and employment information on the Web, will also allow students to conduct online interviews. Even so, but most enterprises employing will tell you, This is not a substitute for personal visits to the schools and students with face-to-face exchanges, The latter right to hire outstanding graduates and publicity corporate image more helpful.
Education officials say, European Master of Business Administration (MBA) graduates of the training institutions are faced with an increasing number of employment opportunities. Due to the rapid economic development of India enterprise managers have enjoyed great demand, enterprise recruitment of such graduates is the competition is becoming more intense. This has forced many companies to look to catch up with those who are small and medium-sized business school. London MBA Association (Association of M.B.A.s) CEO Dannite &S226; Purcell ( Jeanette Purcell) recently told "The Wall Street Journal" on the MBA graduates in the job market problems. This 40-year history of the association in the eyes of the people is a major accreditation bodies, Its 127 members are accredited business school. These business schools, mostly in Europe, but there are also third in South America, Africa, Australia, New Zealand and Hong Kong. Following is the transcript : "Wall Street Journal" (hereinafter referred WSJ) : This year's MBA graduates battle situation? Purcell : Only two years ago, these graduates employment opportunities is far from ideal. But the signs have shown that the enterprise recruitment of MBA graduates of the battle is heating up. These recruits said they MBA graduates this year's recruitment will increase 10% to 20%. Chinese and Indian enterprises are willing to recruit MBA graduates. While their salary levels it is difficult to satisfy the appetite of European students, but as a new MBA graduates of the source of demand, They add this type of talent contention. A recruitment officer recently said to me, enterprises are competing with the MBA student in the early contact. It was also said to me, Some enterprises even with those efforts are expected to top business school MBA education for the students contacted. I think this is very normal, because it shows businesses are not concerned about those students can learn anything. In their view, as long as you can into the School of Business study, he is a good kind of. In my view, this highlights the right of enterprises for the MBA degree graduates. WSJ : Enterprise MBA graduates to set up a remuneration how high? Purcell : in 2006 against 10,000 MBA graduates in a survey, These were the average starting salary 65, 000 pounds (about 130,000 U.S. dollars), compared to the previous year's 65. £ 600 Low 1.3%. This is only the basic wage, do not include variable income. The survey also indicated that MBA students after graduation than their average starting salary for entry before the higher salaries 20%. WSJ : to provide signing bonuses of how kind? Purcell : We have taken note of enterprises to encourage MBA graduates to spend a contract with the capital increase, specific expenditure patterns granted signing bonuses and performance-linked bonuses and stock options provided. WSJ : What industry needs more MBA graduates? Purcell : Advisory enterprises seem to increase their capacity to recruit MBA graduates. We note that there are more MBA graduates to the financial and advisory two traditional areas of employment outside of work. MBA graduates have started to public services, the pharmaceutical and health care industry. WSJ : enterprises this year will be getting enough of MBA graduates? Purcell : I think so long as they do not look only stare in their importance to the few business school case, there would not be such a problem. We should not ignore the growing number of part-time MBA graduates. WSJ : What are the unique Indian MBA graduates employment trends? Purcell : In India, the supply of MBA graduates. Employers and good education background have MBA degrees senior managers who have a strong demand, India to train such personnel can not meet the needs of economic development. I could not tell how China is a situation, but I guess with the situation in India is the same. The next two years, we have embarked on the School of Business certification process is the key areas of China and India. WSJ : European MBA graduates of the professional level which is higher or lower? Purcell : I can only say that the European business school has established a good reputation. Recruits are increasingly European MBA training institutions as a future staff rich source but their eyes are no longer simply focused on the European Institute of Business Administration (Insead) and the London Business School (Lond on Business School), and other prestigious schools. WSJ : The United States and the European MBA graduates is the biggest difference? Purcell : European Business School MBA graduates often have a global outlook and good language ability, they are more willing to other localities to work and travel. These advantages attractive to employers. Here did little to belittle American MBA graduates mean, However, the European MBA graduates actually pay more attention to their leadership and interpersonal skills training. These are precisely the employers are fond of. Furthermore, the European MBA training institutions of international students more color, the students are likely to come from 40 countries. In such an environment the students are learning a valuable experience. WSJ : You have been in the recruitment of MBA graduates are recruited and the way the candidates found some new trend? Purcell : Recruitment of staff is increasingly paying attention to the second category of the School of Business, Such business school is to cultivate a very high quality students. The employment of these institutions students of the enterprise often means that the best investment in human resources. These students usually pay requirements will not be too high. Another trend is that the recruitment of staff noted that MBA graduates for their career and promotion prospects are taking a more realistic attitude. They are fond of learning and development opportunities, and one of the last century to the late 1990s MBA graduates slightly different, The latter only stare at the highest vision, because they think that they have the qualifications. WSJ : technological progress of the recruitment of MBA graduates work influential? Purcell : those who will be a first-class business school student profiles and employment information on the Web, will also allow students to conduct online interviews. Even so, but most enterprises employing will tell you, This is not a substitute for personal visits to the schools and students with face-to-face exchanges, The latter right to hire outstanding graduates and publicity corporate image more helpful.
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