MBA Student Interview: Anton Vorontsov, Chicago Booth

Anton Vorontsov
MBA - Class of 2009
The University of Chicago
Graduate School of Business
[email protected]

TopMBA.com talks to Anton Vorontsov about his decision to do an MBA, why he chose The University of Chicago and his future career plans. 

What were you doing before your MBA?

I set the goal to get into a top business school rather early - shortly after the graduation from Kharkiv National University in Ukraine. At that time I was working in the international department of one of the local Ukrainian banks and was responsible for the management of correspondent accounts opened with foreign banks. In September 2002 I visited New York for a one week training seminar organised by Deutsche Bank. While I was there I visited the campuses of Yale and Columbia business schools to meet students. These meetings had an invaluable influence on my further development. Within three months after my return from New York, I moved to Kiev, the political and financial capital of Ukraine, and found a new job in international banking. Later, to strengthen my pre-MBA credentials, I joined PricewaterhouseCoopers Ukraine, where I experienced three challenging years of professional growth. Eventually, I was ready for the step that I had been planning for many years.

What were your main reasons for deciding to attend business school?

An MBA degree is a great opportunity to boost a career and become an international player. Although there are a number of success stories among my peers and friends in Ukraine, I am still fascinated by the global markets and career growth they might bring.

What research did you undertake in selecting your school?

The selection process was quite straightforward, -the higher the ranking of a school, the better it is. My search focused on the US magic seven business schools.

Have you ever visited the QS World MBA Tour? If yes, did you find it useful?

I visited the QS World MBA Tour in Kiev in October 2006 and found it extremely useful. Although I had rather good knowledge about each business school I was applying to, meeting their representatives in person helped me significantly in writing application essays. It was a great chance to get a hint about the culture of a school and learn something which is not published on a school's website.

What were the main criteria in your selection?

Speaking about Chicago GSB, the main criteria I used in selecting this school was the ability it had to differentiate itself from others. It was the first business school, which started making regular visits to Kiev, Ukraine with presentations of its executive MBA program. Although my goal was to apply to a full-time program, the opportunity to speak with EMBA students had a positive impact on my impression of the school.

How well do your think the MBA is regarded in your home country?

During the last five years MBAs have become a hot topic in Ukrainian "white collars" circles. A number of local business schools have appeared which reflect the growing demand from middle and top management in theoretical backgrounds of doing business. Currently, there is a process of adjusting the quality of education from one side and the  expectations from another.

What was the main reason for you choosing to study abroad?

Overseas MBA programs have always been the priority for me. Mainly because of the key word "international": international experience, career, and networking. The environment I am exposed to in an overseas MBA program is inevitably larger than in any local business school. In other words it is a question of where to sail - in the sea or in the ocean.

What were the advantages/disadvantages of your decision to attend business school abroad?

The advantages of studying abroad are obvious and they already have been mentioned - more experience, career and networking opportunities. The cost of study is the primary disadvantage. However, it is usually offset by a post-graduate salary.

How many people from your country or the same​ origin are studying with you in your class? Do you participate in any clubs or student bodies to support each other?

There are three applicants from Ukraine, including myself, that were admitted to Chicago GSB the same year with me. I am sure that during our studies and outside classes we'll be able to support each other and work together as a team.

How do you balance the demands of study and home/family life?

Luckily, my work/life balance has never been a topic for disputes. When I met my future wife many years ago, I had already been in the process of preparation for an MBA, so my wife accepted it as an essential part of my character.

How does the school help with this?

I do hope that the second year at the business school will be somewhat more relaxed than the first one and the previous several years, when I was under big time pressure imposed by the work at PricewaterhouseCoopers and MBA preparations. However, I have no illusion about post-graduation years. Maybe, I will have to work even harder than I did before. On the other hand, if I set the goal to retire before 40, I think there will be pretty decent chances to succeed.

How are you financing your studies?

Currently, the only option for me to finance my studies is the loan program offered by the school. To reduce the costs I am going to pay particular attention to any external sources of finance: scholarships, fellowships, grants. Yet many students from top-tier programs I've spoken with told me that it is more prudent to look for a good job after the graduation than for the ways to optimise costs. "With a good job loan issues will be solved out naturally" they say.

Did you apply for any scholarships? If so, which ones?

I am going to apply for scholarships starting this Fall, encouraged by the example of another Ukrainian Chicago GSB admit, who won a decent scholarship from the QS World MBA Tour. I am eager to test my chances in the scholarship search.

Have you already been, or do you intend to become an entrepreneur?

Most MBA students have an entrepreneurial mind. We leave our jobs with a stable income and take on financial burdens to make significant changes in our lives. This is risky, but new opportunities, contacts and experience might cover all the expenses. I never thought I had an interest in entrepreneurship until I started my application process: there were so many things to do, people to meet, letters to write that my application became a mature business project. I felt like I was a businessman trying to push through a business idea and make things work. So now, after the application has been successfully completed, I consider entrepreneurship an area I hadn't paid too much attention too before. I will definitely make sure that classes on entrepreneurship are included in my curriculum at Chicago GSB, which pays enormous attention to developing flexibility in students and entrepreneurship state of mind.

Are there any well-known and/or successful entrepreneurs that are alumni of your school?

Kateryna Yushchenko, the first lady of Ukraine. Entrepreneurial skills allowed Ms Yushchenko, in addition to her government duties, to establish one of the most reputable Ukrainian charitable funds - Ukraine 3000. The fund focuses on charitable support to orphaned children, drawing public attention to major issues in history and culture and, on the top of that, determining Ukraine's role and place in the global community.

How much do you expect to earn on graduation? (or already earn - please give a range).

The more the better, but statistics provided by Chicago GSB says that the average salary after graduation is more than US$100,000 which, notwithstanding the significance of this amount, nevertheless limits my plans for life. Speaking seriously, every dollar in excess of the average would show that I exceed expectations, every dollar less - that I need to revise my approach.

What do you expect to do on graduation and where do you expect to be based?

Currently, my draft plan is to continue a career in consulting, yet I keep my mind open to concentrate, if necessary, on a better and more promising option. The same applies to my location after graduation. I wouldn't mind if it is in Ukraine.

Where do you see yourself in 10 years time?

The option of a position in senior management is a good choice and I am sure that I will have a chance to prove myself to be a good manager.
Yet, in 10 years time I will be more comfortable in reaching a good mix of running my own business and maintaining a favourable work life balance.

How easy or difficult do you expect it to be to achieve these objectives?

I would say that it won't be easy. An MBA itself is not a magic wand or a solution to all problems. It's just another opportunity. The task is to capture this opportunity and use it to the fullest extent. Objectives that I set for myself are reachable and this is all I need to know.

What do you wish you had known before you started your MBA?

What I really needed to know before starting an MBA is how to settle various organizational issues like finances, housing, visa processing, vaccinations, insurance, laptop purchase, summer assignments etc. Though each of them is small and insignificant, in a group they form a time consuming and annoying process of performing routine procedures.

What would you advise other young professionals?

Plan the impossible and you reach the maximum!
Set really challenging tasks for yourselves. When I decided to obtain an MBA my monthly salary was less than the GMAT fee. My big goal of getting to a business school was like a beacon that showed me the right way. It finally brought me to a Senior Consultant position in PricewaterhouseCoopers, where I felt comfortable even without an MBA. That was my maximum in Ukraine therefore I am currently in the process of setting the next big goal for myself.