As Vice-President of MonaRussia, it’s Elena Shalimanova’s goal to help them integrate in terms of Monégasque culture, wealth management and tax planning, property transactions and more.
Armed with her MBA from France’s famed EDHEC Business School, she benefits from expertise in all areas of business planning.
In the future, however, Elena wants to set up her own business, advising European companies on how to conduct their business in Russia.
Having interacted with 32 different nationalities on her MBA, as well as visiting South Africa and Singapore, Elena’s making that international exposure a key part of her professional profile.
How did you decide an MBA was the next step for you?
Before undertaking my MBA, I already had almost 12 years of professional experience in 3 different international companies in Moscow. There came a moment where I felt I had to start working on a large scale projects in an international environment.
By chance, I visited an MBA Fair in Moscow with a friend of mine, where I realized how an MBA could boost my career by giving me international exposure and the opportunity to enlarge my network. Changing both my location and my industry were of high priority to me.
What made EDHEC's MBA the right one?
I applied to several European business schools, my main criteria being rankings, program duration, variety of tracks and specializations, international experiences, as well as a diverse cohort. EDHEC, as a top three school in France, fulfilled all my criteria.
My MBA class included 80 students, and was incredibly diverse at 32 nationalities, with an average age of 33 and an impressive 8 years of professional experience, which meant I had more to learn from them.
On top of that, within their ten-month program, I had the opportunity to acquire business knowledge, develop soft skills, and put them into practice through a combination of classes, group work, coaching and business simulation.
Additionally, I had the choice of three tracks – Finance, Entrepreneurship, or Global Leadership - and they offer tailored MBA projects. During the program, I went to South Africa and Singapore, where I gained both cultural understanding and practical business experience. Finally, I was also given the opportunity to consult for a well-known multinational.
How have you gained so far from your MBA?
For me, my MBA was a life-changing experience, and I learned as much that year as I had over the last ten years of my professional career.
When you learn and work in a highly international environment like EDHEC and are under pressure to be better than your peers, you begin to understand your limits, strengths and areas for improvement much more.
I also learned how to adapt more quickly to changing situations, and worked out how to pursue my post-MBA goals with the help of EDHEC’s career coaches.
How did you get the chance to start working at MonaRussia?
After spending time looking for jobs in Western European companies without much success, I decided to leverage my own skills and knowledge of the Russian market.
It was by chance that I met the President of Monégasque Association MonaRussia. Accredited by the Minister of the State, it provides for bilateral exchanges between Monaco and Russian-speaking countries in economics, finance, culture and the environment.
Taking into account my previous professional experience in banking and leasing, as well as my diploma in law and my MBA, I was appointed in charge of providing our Russian business clients with legal, financial and economic advice in relocating to Monaco, which offers political stability and a favorable tax environment.
What did you gain from your trips abroad during your MBA?
Visiting Singapore and South Africa gave me excellent learning experiences and provided me with insights on successful business models in different economies.
We had the chance to meet with managers from different companies, to learn how multinationals adapt their marketing strategy for different regions, the challenges globalization brings, and how sustainable business models have wide impacts.
What advice would you give to applicants starting their MBA journey?
Everyone who decides to do an MBA should understand that it is a long-term investment, especially if you are not sponsored by your company. Once you’ve invested your money, you must be ready to put in time and effort, and work hard to achieve your goal. It’s also very important to be in “right time” at a “right place” with “right people”, and to be open to any opportunity which life gives you.
What are your plans for the future?
In the near future, I’d like to run my own business. I’ve observed strong interest from European companies in expand their activities in Russia, although they lack both connection there and knowledge of its business culture.
That’s why I’m currently working on the opening my own business to consult certain group of companies in their international development into Russian-speaking regions, and I have a few like-minded friends who are interested in pursuing that adventure with me.
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