Demand for Second Higher Education: Empirical Evidence for Russian Senior Executives

Abstract

We review the most widespread theoretical models of demand for higher education. We use weekly Vedomostipublications on appointments of senior executives in Russian companies and Russian branches of foreign companies from the late 1999 to the late 2009 to analyze the education level of Russian senior executives: what first higher education they reseived and where; how and where they got their second higher education; what categories of managers are more likely to reseive a second higher education. The sample comprised 5001 appointments. We performed an econometric analysis of the factors determining demand for second higher education among senior executives. Almost all the senior executives have higher education, one third of them have two or more diplomas. Economic and business studies were found to be the most needed areas. Second higher education was more likely to be in demand by senior executives who obtained their first diploma in engineering or humanities.