Full-time education at the country’s leading university
from anywhere in the world
HSE Online is the online campus of the National Research University Higher School of Economics (HSE University), the leading Russian university by number of full-time online programs and the students enrolled in them. We have over 30 years of experience in education and research, and more than 12 years in online education.
We combine academic expertise, cutting-edge technology, and industry trends so that you not only gain up-to-date knowledge and skills but also shape the future job market.
We combine academic expertise, cutting-edge technology, and industry trends so that you not only gain up-to-date knowledge and skills but also shape the future job market.
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About the program
The online master’s program in Business Analytics prepares professionals to provide analytical support for modern corporate strategies aimed at achieving sustainable and inclusive corporate growth.
The program offers two educational tracks:
- "Value-Based Business Decision Analytics"
- "Strategic Business Reporting"
If you choose the first track, you will immerse yourself in new methods and tools for business analysis and modeling long-term corporate value creation. If you choose the second track, you will acquire skills in preparing financial and non-financial reports, building performance indicator systems and dashboards, assessing risks, and more.
Convenient class times
Classes are held on weekdays after 7:00 PM and on Saturdays from 10:00 AM to 4:00 PM Moscow Time; after that, the webinars are made available as recordings. Lectures are available shortly after each class, allowing you to watch them anytime if you can’t attend live
Convenient digital environment
Classes are held via MTS Link, Yandex Telemost, Zoom, and HSE’s SmartLMS platform
Up-to-date content only
We have designed this program to address the new challenges that finance professionals are facing in today’s rapidly changing business world, as well as to the needs and expertise of major industrial, investment, and consulting firms, so that you are ready for real-world market demands
Practical application focus
You will develop team projects and present them to business experts, participate in workshops and labs with international specialists and leading practitioners from Sberbank, Severstal, Lukoil, Yakov & Partners, and other companies
Personalized learning path
You can choose one of two tracks: "Value-Based Business Analytics" or "Strategic Business Reporting", and add additional courses to your curriculum
Soft skills development
Through teamwork, you’ll not only hone your technical skills but also improve your leadership and communication competencies, which will enable you to advance confidently in your career
Mentorship
Course assistants and a personal mentor will be there to answer your questions, help you choose your personalized track, and provide support when you need it
Career development support
You’ll have the opportunity to meet with HR consultants, headhunters, and employers, connect with program alumni, and exchange experiences. We’ll also help you craft a strong resume, share job openings, assist with ecommendations, and help you find internships
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How the program is delivered
We recommend setting aside about 20 hours per week for classes and independent study.
In addition to required courses, you can choose elective courses and create a personalized study plan.
In addition to required courses, you can choose elective courses and create a personalized study plan.
The curriculum is subject to minor changes. We adapt it to industry trends and take into account feedback from students, instructors, and experts.
- Theory of Finance
- FInancial Markets and Instruments
- Mentor’s Seminar
- Corporate Finance
- International Financial Reporting Standarts: Part 1
- Econometrics (Advanced Level)
- Financial Modelling
- Mentor’s Seminar
- Research Seminar "Research Methods in Finance"
- Corporate Finance
- International Financial Reporting Standarts: Part 1
- Public Non-Financial Reporting
- Valuation and Value Based Management
- Econometrics (Advanced Level)
- Sustainable Finance
- Financial Modelling
- Mentor’s Seminar
- Research Seminar "Research Methods in Finance"
- Project Laboratory "Value Based Analytics"
- Project Laboratory "Strategic Business Reporting"
- Valuation and Value Based Management
- Integrated Risk Management
- Taxation and Tax Planning
- Workshop on Working With Data
- Mentor’s Seminar
- Project Laboratory "Value Based Analytics"
- Project Laboratory "Strategic Business Reporting"
- Project
- International Financial Reporting Standards 1, 2
- Strategic Management
- Mentor’s Seminar
- Macroeconomics (Advanced Level)
- Behavioral Finance: Applications in Business Analytics
- Forensic Accounting (Fraud Investigation)
- Workshop on AI in FInance Research
- Mentor’s Seminar
- Project Laboratory "Value Based Analytics"
- Project Laboratory "Strategic Business Reporting"
- Project
- Corporate Governance and Compliance
- Macroeconomics (Advanced Level)
- Auditing and Assurance
- Data Analytics and Mining
- Strategic Managerial Accounting
- Workshop on AI in FInance Research
- Mentor's Seminar
- Project Laboratory "Value Based Analytics"
- Project Laboratory "Strategic Business Reporting"
- Project
- Preparation of the Graduate Thesis
- Mentor’s Seminar
- Preparation of the Graduate Thesis
- Final Qualification Paper
Examples of student projects and theses
Our professors are practitioners at leading Russian companies and scholars at HSE
Irina Ivashkovskaya
Academic Director of the Program, Head of the School of Finance at the National Research University Higher School of Economics, Professor
Sergey Grishunin
Chartered Financial Analyst (CFA), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), Ph.D. in Economics, Associate Professor
Dmitry Tikhomirov
Director of the Financial Modeling Division and Head of the Financial Modeling Group at VEB. RF, Professor
Alexander Myshenkov
Senior Manager of the Audit Department at "Technologies of Trust," Certified Auditor, Ph.D. in Economics
Ilya Ivaninsky
Ph.D. in Economics, Associate Professor; Partner, Financial Practice Expert at Yakov & Partners
Sergey Kuzubov
Doctor of Science, Associate Professor
Svetlana Grigorieva
Associate Professor
Artem Anilov
Ph.D. in Economics, Manager of Economic Planning at the Baku office of LUKOIL Overseas Shah Deniz Ltd
Natalia Serdyukova
Ph.D. in Economics, Lead Specialist at PJSC LUKOIL
Ilya Shumov
Managing Director of the Investment Banking Department at Rosselkhozbank JSC
Irina Ivashkovskaya
Academic Director of the Program, Head of the School of Finance at the National Research University Higher School of Economics, Professor
Sergey Grishunin
Chartered Financial Analyst (CFA), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), Ph.D. in Economics, Associate Professor
Dmitry Tikhomirov
Director of the Financial Modeling Division and Head of the Financial Modeling Group at VEB. RF, Professor
Alexander Myshenkov
Senior Manager of the Audit Department at "Technologies of Trust," Certified Auditor, Ph.D. in Economics
Ilya Ivaninsky
Ph.D. in Economics, Associate Professor; Partner, Financial Practice Expert at Yakov & Partners
Sergey Kuzubov
Doctor of Science, Associate Professor
Svetlana Grigorieva
Associate Professor
Artem Anilov
Ph.D. in Economics, Manager of Economic Planning at the Baku office of LUKOIL Overseas Shah Deniz Ltd.
Natalia Serdyukova
Ph.D. in Economics, Lead Specialist at PJSC LUKOIL
Ilya Shumov
Managing Director of the Investment Banking Department at Rosselkhozbank JSC
How to enroll
6
Start your studies
You are now an online student — congratulations!
5
Sign the contract and pay for your studies
Everything is done online, which is quick and convenient
4
Take an online interview
We’ll ask you to tell us about yourself, your experience, and your motivation, and we’ll discuss your career plans and expectations for the program
3
Pass a Portfolio Review
Attach your college diploma, a personal statement, a letter of recommendation, your resume, your English proficiency test results, and a list of your achievements. We will notify you of your portfolio assessment results by August 15
2
Submit your application on Gosuslugi
You will need your passport and college diploma
All the benefits of in‑person learning and the advantages of online study
State-recognized diploma
You will receive a state-recognized master’s degree in the field of 01.04.02 "Applied Mathematics and Computer Science" from the National Research University Higher School of Economics, with a supplement translated into English. The document will not indicate that the program was completed online
Study from
anywhere in the world
There’s no need to move to Moscow and you can study wherever you feel most comfortable. And if you’d like to visit HSE’s campus, we’ll help you arrange a visitor pass and look forward to seeing you
The opportunity to balance work and study
Course lectures are available immediately after if you can’t join live so that you can watch them at any time. Live classes are held on weekday evenings and are later made available as recordings. This allows you to continue your career while fitting your studies into your schedule
Student status, access to HSE’s online resources, and the option to visit campus
You have all the same benefits as HSE’s on-campus students
from ₽70,000
Junior Specialist
up to 1 year of experience
from ₽130,000
Middle Specialist
1−3 years of experience
from ₽200,000
Senior Specialist
more than 3 years of experience
Career
According to a study by Get Experts, business analysts became some of the most sought-after candidates in the retail sector in 2024−2025
Resume after graduation
Milana Kanaeva
Business Analyst
Master’s degree in Business Analytics, HSE University
(Skills)
- Proficient in various approaches and tools for company valuation
- Use artificial intelligence in my daily work with financial and non-financial information
- Analyze data using software tools (Excel, Python, R)
- Proficient in financial analysis approaches and tools, as well as techniques for analyzing non-financial data, including text analysis and the use of artificial intelligence
- Identify, assess, and manage financial and non-financial risks
- Proficient in financial modeling practices, including Power BI tools
- Conduct quantitative analysis of financial data to identify trends and cause-and-effect relationships
- Proficient in tools for structuring financial transactions, risks, and the financial liabilities of participants
- Proficient in the methods, approaches, and tools of management accounting and operational performance evaluation
- Prepare financial and non-financial reports
(Tools)
Testimonials from our alumni about their experiences studying at HSE Online
Anatoly Alpatov
Program graduate
I run a family business in the Krasnodar Region. The online format is much more convenient for me than the traditional in‑person format. I don’t have to travel or waste time commuting. Instead of lectures, there are videos that I can watch over and over.
Natalia Kazantseva
Program graduate
I have a background in finance, but I currently work in marketing projects and brand development in the retail sector. I have collaborated with Ultraceuticals, Kevin Murphy, Evo, Oribe, Richard, Lipton, Lozap, Telzap, Zenon, and others.
Alexander Antipin
Program graduate
I am 41 years old, living in Yekaterinburg and working as the head of a trading and manufacturing company in the printing industry. I have a law degree, but I have never worked exclusively in that field.
Sofia Cheburkova
Program graduate
I spent a long time choosing a master’s program and decided on this one because it allows me to balance my studies with my work in IT.
Anatoly Alpatov
Program graduate
I run a family business in the Krasnodar Region. The online format is much more convenient for me than the traditional in‑person format. I don’t have to travel or waste time commuting. Instead of lectures, there are videos that I can watch over and over.
The program has lived up to my expectations. Homework assignments in English are no longer any harder than those in Russian, and the knowledge I’ve gained in corporate finance, strategic management, and other subjects is a huge help at work.
I approached my studies with interest and a fighting spirit, and I feel that my efforts are paying off. But there are still two major challenges ahead such as writing a great thesis and not getting three Bs.
The program has lived up to my expectations. Homework assignments in English are no longer any harder than those in Russian, and the knowledge I’ve gained in corporate finance, strategic management, and other subjects is a huge help at work.
I approached my studies with interest and a fighting spirit, and I feel that my efforts are paying off. But there are still two major challenges ahead such as writing a great thesis and not getting three Bs.
Natalia Kazantseva
Program graduate
I have a background in finance, but I currently work in marketing projects and brand development in the retail sector. I have collaborated with Ultraceuticals, Kevin Murphy, Evo, Oribe, Richard, Lipton, Lozap, Telzap, Zenon, and others. I am also the editor of a Moscow-based media outlet and actively manage social media for various projects. I believe that learning is a part of life, and I strive to constantly gain new knowledge from all kinds of sources.
As someone who is busy 24/7 and constantly on the go, I find it particularly convenient that HSE allows me to study online. I don’t have to waste time commuting and still receive the same amount of knowledge from industry experts as I would in person. For example, many professors broadcast from other cities or even countries.
I’m pleased that the courses are taught entirely in English, which helps me stay sharp. I highly recommend the program to all my friends who are looking for high-quality education.
As someone who is busy 24/7 and constantly on the go, I find it particularly convenient that HSE allows me to study online. I don’t have to waste time commuting and still receive the same amount of knowledge from industry experts as I would in person. For example, many professors broadcast from other cities or even countries.
I’m pleased that the courses are taught entirely in English, which helps me stay sharp. I highly recommend the program to all my friends who are looking for high-quality education.
Alexander Antipin
Program graduate
I am 41 years old, living in Yekaterinburg and working as the head of a trading and manufacturing company in the printing industry. I have a law degree, but I have never worked exclusively in that field.
I was drawn to the program by a lack of knowledge and skills in economics, finance, and business performance analysis, a need that has been exacerbated in recent years by the gradual decline in prospects within the printing industry.
The program turned out to be exactly what I needed. Not only because of the curriculum, but also because of the online format, which allows me to study from another city and balance it with my job. The first year of study was not easy, as the program involves a rigorous academic process that demands effort and time. But after about six months, I managed to adapt, develop a study method and strategy, and now everything is going quite smoothly.
I’m satisfied with the program’s content: I’m now gaining the knowledge and skills I previously lacked — including practical English — and I truly find them useful and valuable.
At the same time, everyone in the program feels constant support and assistance from the faculty, who more than make up for any difficulties.
I was drawn to the program by a lack of knowledge and skills in economics, finance, and business performance analysis, a need that has been exacerbated in recent years by the gradual decline in prospects within the printing industry.
The program turned out to be exactly what I needed. Not only because of the curriculum, but also because of the online format, which allows me to study from another city and balance it with my job. The first year of study was not easy, as the program involves a rigorous academic process that demands effort and time. But after about six months, I managed to adapt, develop a study method and strategy, and now everything is going quite smoothly.
I’m satisfied with the program’s content: I’m now gaining the knowledge and skills I previously lacked — including practical English — and I truly find them useful and valuable.
At the same time, everyone in the program feels constant support and assistance from the faculty, who more than make up for any difficulties.
Sofia Cheburkova
Program graduate
I spent a long time choosing a master’s program and decided on this one because it allows me to balance my studies with my work in IT.
I am a senior specialist in the Project Management Office (PMO) at an IT company, and we are currently reorganizing the project office’s activities. Several departments are being transferred to us, including the finance department. Thanks to courses such as "Valuation and Management of Company Value" and "Strategic Management," my team and I can assess the added value of a new project and its prospects.
Thanks to the online lectures, I can flexibly schedule my studies, work, and Chinese language learning. The professors' expertise and practical case studies exceeded my expectations, and every project is a new challenge. My main goal now is to study the application of machine learning in finance, as I plan to use this knowledge for my work and my thesis.
I am a senior specialist in the Project Management Office (PMO) at an IT company, and we are currently reorganizing the project office’s activities. Several departments are being transferred to us, including the finance department. Thanks to courses such as "Valuation and Management of Company Value" and "Strategic Management," my team and I can assess the added value of a new project and its prospects.
Thanks to the online lectures, I can flexibly schedule my studies, work, and Chinese language learning. The professors' expertise and practical case studies exceeded my expectations, and every project is a new challenge. My main goal now is to study the application of machine learning in finance, as I plan to use this knowledge for my work and my thesis.
Tuition fees
280 000 ₽
per term
4 terms in total
Our managers
Alina
Aldabergenova
Aldabergenova
Tatyana
Rylova
Rylova
Anna
Sokoreva
Sokoreva
Take the first step and sign up for a consultation
We’ll call you to tell you about the program and answer all your questions. It’s completely free of charge
Q&A
Yes, since this is a master's program, you can only enroll if you have a bachelor's or specialist degree.
No, we welcome applicants from all academic backgrounds to the program.
To help you adjust comfortably at the start of the year, professors will, upon request, recommend supplementary reading and resources to fill in any gaps in your foundational knowledge, and they will also be available for individual consultations.
To help you adjust comfortably at the start of the year, professors will, upon request, recommend supplementary reading and resources to fill in any gaps in your foundational knowledge, and they will also be available for individual consultations.
The entrance requirement for the program is a portfolio review. To learn how to put together a strong portfolio and understand the criteria by which it will be evaluated, sign up for a free consultation.
After reviewing your portfolio, we will invite you to an online interview. We will ask you to tell us about yourself, your experience, and your motivation, and we will inquire about your career plans and expectations for the program.
After reviewing your portfolio, we will invite you to an online interview. We will ask you to tell us about yourself, your experience, and your motivation, and we will inquire about your career plans and expectations for the program.
You will need your passport and a college diploma.
To feel comfortable in the program, the minimum required level of English proficiency is B1 (intermediate).
Lectures are available as recordings, so you can watch them at any time that’s convenient for you. Seminars, masterclasses, and project work take place online on weekdays after 7:00 PM and on Saturdays from 10:00 AM to 4:00 PM Moscow time. Recordings of these sessions are also made available afterward. This way, you can continue your career and fit your studies into your schedule.
We recommend setting aside about 20 hours per week for classes and independent study.
We recommend setting aside about 20 hours per week for classes and independent study.
The program lasts two years, and this is a fixed duration. At the end of the second year, you will defend your final thesis.
You will receive a state-recognized master’s degree diploma in the field of 38.04.08 "Finance and Credit" from the National Research University Higher School of Economics, with a supplement translated into English. The document will not indicate that the program was completed online.
No, classes are delivered fully online in real time. Graduates receive a state-recognized diploma with a supplement translated into English. The document will not indicate that you studied online.
No, you do not need to visit HSE University campuses; you will submit your documents and defend your thesis online.
Tuition can be paid in four installments. The first installment is due upon signing the enrollment agreement, and the subsequent installments are due before the start of each semester.
Yes, in that case, we will draw up a tripartite agreement between you, your employer, and the university, and issue an invoice for payment.
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