Master of business administration

✔️ Varna University of Management (VUM) is one of the leading educational institutions offering an MBA program in Bulgaria. We offer one of the few opportunities to study international management in a real international environment.

✔️ The language of instruction is English and students complete their education with two degrees. Upon successful graduation and meeting the requirements of our strategic academic partner Cardiff Metropolitan University, UK, along with their Bulgarian degree from VUM, they are awarded a British MBA Degree.

✔️ The long-term efforts and work of VUM academic community have been internationally recognized and validated. From 2017 up to now, in terms of student mobility VUM was ranked 1st worldwide by the independent ranking system U-Multirank and in 2021 the MBA programme was ranked 4th in Central and Eastern Europe by Eduniversal Best Masters ranking system.

The courses are taught entirely in English. Classes are small and encourage crosscultural dialogue and personal connections. As a leading business school in Eastern Europe, VUM has the exceptional privilege to educate students from start to graduation in programmes leading to Cardiff Metropolitan University’s British degree. And this is without the usual requirement for students to spend a year in the UK. VUM students follow a synchronized curriculum with Cardiff Metropolitan University and have to meet the same high standards in learning and examinations.

You can find detailed information on scholarship opportunities, semester tuition fees and student loans here.

We at VUM offer short and clear steps for admission of candidates. The main requirements for students are high motivation, good results from the high school diploma and a good level of English language proficiency.
In the process of admission Varna University of Management strictly follows the rules and regulations of the Ministry of Education and Science of the Republic of Bulgaria.

You can find information here.

✔️ Completing an MBA program provides many benefits, the most significant of which are the numerous career opportunities for such professionals. By completing the MBA program at the Varna University of Management , you are not only practically prepared for successful professional realization in the fields of marketing and advertising, finance, accounting, human resources, but you can use the accumulated experience and knowledge as a starting point for higher education. managerial positions in your field of professional development. The MBA diploma opens opportunities for reaching managerial positions in all areas of business, as the widest realization of MBA graduates is in the fields of public relations, advertising, sales, marketing and event management.

✔️ VUM prepares its masters for the highly competitive labor market by providing them with practical advice, guidance and opportunities for career development. The university maintains excellent relations with business in Bulgaria, Europe, USA, etc., which is a prerequisite for conducting practice and future realization of students in various partner institutions and organizations around the world.

Stories of alumni


Core Modules

(Students follow 90 credits of core modules)

  • People & Organisations (10 ECTS)
  • Accounting for Decision Makers (10 ECTS)
  • Marketing (10 ECTS)
  • Operations Management (10 ECTS)
  • Strategic Management (10 ECTS)
  • Management of Finance(10 ECTS)
  • Comsumer Behaviour: Knowing your Consumer (10 ECTS)
  • Ethical Research Issues (5 ECTS)
  • Dissertation (15 ECTS)
Elective courses

Only when the duration of study is 4 semesters, students take 3 out of 8 elective modules:

  • Leadership and Change Management (10 ECTS)
  • Brand Management (10 ECTS)
  • Innovation Management (10 ECTS)
  • Project Management (10 ECTS)
  • Revenue Management (10 ECTS)
  • Research Methods (10 ECTS)
  • Public Finance (10 ECTS)
  • Risk Management (10 ECTS)

*Note: Elective modules are subject to availability and demand; as such, not all elective modules may run in one Academic Year.

Optional disciplines

Provide students with the opportunity to acquire knowledge and skills in various scientific fields. Optional modules are not related to the degree and they are not a compulsory component of the programme of study.

  • Agrotourism (5 ECTS)
  • Introduction to Agribusiness (5 ECTS)
  • E- Business in the Agrarian Sector (5 ECTS)
  • Crop Production (5 ECTS)
  • Management Consulting in Agribusiness (5 ECTS)
  • Computer Networks (5 ECTS)
  • Business Applications (5 ECTS)
  • Introduction to Multimedia Applications and Internet (5 ECTS)
  • Robonomics (5 ECTS)
  • Next foreign language (5 ECTS)
  • Underwater Cultural Heritage (5 ECTS)
  • Ethnology (5 ECTS)
  • Folklore (5 ECTS)
  • Marine Biology (5 ECTS)

*Note: Optional modules are subject to availability and demand; as such, not all optional modules may run in one Academic Year.


The MBA programme at VUM gives the students the opportunity to select a specialization in a particular field. To complete the MBA with a specialisation, students must complete two specialised modules and to defend a dissertation in the specialised area. To launch a particular specialization it is necessary a group of at least 10 people to be formed.

Specialization pathways:

  • MBA Project Management
  • MBA Product Development Management
  • MBA Health Sector Management
  • MBA Marketing MBA International Finance
  • MBA Human Resources
Cardiff Met Degree

All prospective students must satisfy Cardiff Metropolitan University’s admission requirements for students on Masters courses as specified in Cardiff Metropolitan University’s Academic Handbook:  The normal minimum requirements for entry onto Master’s Degrees are:
– An initial degree awarded by another approved degree awarding body (2:2 or above); or
– A non-graduate qualification which is deemed to be of a satisfactory standard for the purpose of postgraduate admission

September and February

For candidates whose first language is not English, such candidates are expected to have an acceptable IELTS score or equivalent if they have not undertaken their previous studies in the language. The IELTS score should be no lower than 6.0, with no sub score being lower than 5.5. For TOEFL. Applicants should have a minimum overall score of 72, which should be comprised of a minimum score of 20 in speaking, 17 in writing, 18 in reading and 17 in listening.

Module NameBritish credit points
People and Organisations20
Accounting for Decision Makers20
Operations Management20
Strategic Management20
Management of Finance20
Consumer Behaviour: Knowing Your Consumer20
Final Award – Master of Business Administration180

Disclaimer: Programme and module changes could be triggered by a number of reasons; such as validation and revalidation, developments in the subject area, responsive changes in light of student feedback, changes to the academic staff, external requirements from regulators or accrediting bodies or updates in teaching and assessment methods.
We make every effort to ensure that information on this website relating to our degree Programmes is as accurate as possible, however, it is suggested that applicants request updated Programme information during their application process.

Collaborative Educational Initiative with TASA Global

(For Our South-Asian Students)

Varna University of Management and TASA Global are pleased to present a collaborative educational initiative for our MBA Programme. The new initiative will offer INITIAL study periods from Indian (Or Other South Asian) Partner Institutions/ Universities followed by Study Period at VUM with Specialised Tracks.

For more comprehensive information, interested applicants are encouraged to visit TASA Global at   Or contact TASA Global representative at or +91 9833 234 000