What is industry management and why should it be studied? Explained by the IIM RANEPA
The admission campaign 2021 is coming to the RANEPA and we continue to introduce the interesting educational programs of the university to our readers. If you plan to become a flexible manager who can work in any area of the economy, the Management Bachelor’s degree program of the Institute of Industry Management (IIM) at the RANEPA will suit you best. Deputy Dean of the IIM Faculty of Market Technologies Yulia Nikolaevna Ignatieva and the acting Program Director Ekaterina Yurievna Maksimova are speaking about the Program’s features in 2021, about the case method of teaching and about the experts who help science and theory “catch up” with practice.
1. What makes the Industry Management program unique?
There are two tracks at the program: transportation and real estate. The reason behind selecting these areas is that 85% of jobs for specialized managers are concentrated in them. But the most interesting thing is that after the Industry Management program graduates will be able to become both general managers and highly specialized experts. Let us tell you in more detail how we provide these opportunities.
In the first two years all students undergo basic management training. They study the classic management. In their 3rd year everyone forms an individual educational track, selecting disciplines focused on real estate or transportation. Here are given a wide choice: they can study all units or choose mixed specialization where a part of the training is devoted to real estate and the other part focuses on transportation to try both areas, or they can focus on studying one of these areas thoroughly.
2. What exactly is taught at this program?
Students will have a detailed management course, financial management subjects, statistics and mathematics as well as marketing. Industry Management is a classic basic management program with a bonus of learning important industry areas.
3. What will be the name of the specialty in the diploma of the program graduate?
The graduates of the program will receive a standard state diploma with specialty written as “Industry Management”. We deliberately did not describe the profile in detail, because we understand that the studying is a time of self-discovery, and it should always be possible without time losses to change disciplines and the direction of study. Only the actual final competencies of the graduates will depend on the combination of subjects chosen, not the entry in the qualification document.
4. How will the training be structured and will there be practitioner teachers at the program?
Yes, first and foremost, there will be major original courses in introduction to the profession starting at the 2nd year.
Then, point education modules will be introduced by active market experts. It will be organized in the following way: since each theoretical course must be supported by real cases, practical sessions in business planning, investment and development project management, real estate management and economic analysis of industrial markets will be taught by invited partners. The market is always ahead of the science, and an illustration of the theory from experienced professionals gives up-to-date insight into each area. IIM has always been proud of our experts. Their work hour costs so much that they lecture to the students almost solely out of enthusiasm. So when some people have questions about the cost of education, we say that in terms of the hours each student is given by stars the market, studying here is very cost-effective.
Finally, a number of specific subject in the Industry Management program will be taught by guest lecturers. For example, a pilot course on the creation of engineering structures will be delivered by an instructor from Moscow State University of Civil Engineering. The course on architectural history is by our colleagues from Moscow Institute of Architecture. The transportation unit is taught by tutors from MIREA - Russian Technological University. We work with interesting and experienced educators.
5. Will there be any subjects in a foreign language?
Cross-cultural management, service marketing are all taught in English. It is important that the course focuses on real Western cases, not just Russian cases translated into English.
6. Where will students be interning?
Internships begin in the 1st year. They are organized either as cases where students receive project tasks once a month and then defend them under the guidance of experts as a large product, or the classical way: students work for major real estate developers, development and transport and logistics companies at the end of the training year, and sometimes in the middle of the year, during the active New Year holidays. We provide internships for everyone, but it is not uncommon that students find internships and future jobs on their own.
7. Where will graduates be able to find employment? What is their salary going to be?
Managing business processes in transport and real estate; as well as consulting. The key positions for the real estate sector are auditing, risk management, financial advisory, procurement, real estate valuation and appraisal, marketing, and of course development project management. This is a well-paid area, the salary of entry level specialists is 80-100 thousand rubles. There are many jobs for specialists in transport with salaries ranging from 65 thousand rubles for entry level specialists (often including 3rd and 4th year students) and from 250 thousand rubles and higher for managers.
Do you know that experts predict that by the end of 2021 the real estate and logistics services market will face serious staffing shortages? Markets are growing so fast that there is simply not enough competent managers. The competencies of our graduates will allow them to work in any functional division of large companies.
8. What USE subjects will be required for admission?
For admission you need the Unified State Exam (USE) in the Russian language, proficiency mathematics and social studies. Training is available both on a paid and on a free basis. Last year one had to get over 260 points to be admitted for free training.