GLOBAL UNIVERSITY RANKINGS AS A MEASURE OF EFFECTIVENESS OF HIGHER EDUCATION FINANCING

The article presents the evaluation of the effectiveness of return of the investment at one point in the international ratings of Russian and foreign universities. A large number of Russian and international rankings for comprehensive assessment of higher education institutions have been developed up to date. The main purpose of university assessment systems/rankings is to inform the newspapers" readers, especially students and their parents, about the universities" status, as well as to show the situation and trends prevailing in the global higher education market. The analysis shows that there is a correlation value of investments in higher education and occupy positions in the ranking. Thus, foreign universities have a higher value of one point in the international ranking, and higher revenues per academic faculty staff, while they occupy the top positions in the rankings, the opposite situation in Russian universities. However, it is worth noting that the cost of return of the investment at one point in ranking higher in Russian universities. This situation may explain the fact that Russian universities are just beginning will mark its presence in the international rankings, and focus on international indicators, which are measured by rating agencies.