Find the information you need to get an international business degree and start your career.
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An international businessman heads out
on an overseas business trip.
International business is the term most frequently used when discussing the actions and interactions of companies who either have interests in multiple places around the world or who work with other companies based or operating globally. These businesses are generally called multinational corporations or international business corporations. As the world becomes increasingly technological and communication, business and cooperation over great distances gets easier, more formerly local businesses are expanding into the global market.
As an international businessperson, you need to be prepared to work in international finance, marketing, management, importing/exporting and often sales. While much of this requires on the job experience, you can ensure that you have a solid foundation by pursuing an international business degree.
Undergraduates can earn a Bachelor's in International Business, but most upper-level international management positions require an MBA or Master's Degree. The Master's in International Management (MIM) includes language and culture classes in addition to business course work and generally tries to present a cross-cultural perspective. MBA students can specialize in international business and management.
The basic difference between the international business master's degree and MBA is that the master's degree programs are highly specialized and will allow you to focus almost exclusively on issues related to international business.
The Master's in International Management (MIM) places an emphasis on management with a cross-cultural perspective, and includes language and culture classes. The master's degree in international business also includes language and culture curriculum, but the emphasis is on international business practices.
In contrast, an international business MBA program will help you develop a general set of management skills in addition to specific multinational knowledge. There are advantages to each: a master's program will enable you to delve into international issues in greater depth; an MBA program will allow you to develop a set of skills that can be transferred to other areas. While both a master's degree and an MBA concentration will prepare you to hold international business management positions, an MBA degree may also qualify you to hold management positions in other fields, should you become interested in a different career.
MBA programs in international business can be either general or specialized, but most cover the basic aspects of business administration like accounting, finance, management and marketing. The main focus, however, is on topics like international governmental policies, international financial services, cross-cultural management, unique customs and attitudes, and other factors that affect multinational operations management.
In addition to an overall comprehension of business administration, international business students should have:
- Cultural Sensitivity: Even well-known corporate giants have erred unintentionally when they have failed to research cultural beliefs and traditions in new markets. You must be able to speak more than one language and should be well versed in the practices of the country where you work; a simple blunder like an improper business card exchange can offend potential clients.
- Patience and flexibility: Do not expect to start jet setting to Paris or Hong Kong in your first month of work. Most international business women and men begin their careers in domestic operations and advance to positions abroad after demonstrating prowess at home. When new markets open to your company, opportunities may arise in countries that you never considered. If you long to be an international executive, be willing to accept a position in Eastern Europe. Your achievements there might help you secure the job of your dreams in Latin America or Western Europe.
- People skills: Whether you pitch products to upper-level executives or assist customers during sales, you need to know how to work with diverse groups of individuals who come from very different cultural backgrounds. Understanding the needs of clients is crucial to your success, as is the ability to perform as part of a multinational team.
- Communication skills: To excel in business, you must be able to convey your ideas effectively and efficiently. You should be a proficient speaker and writer. Take time to research which languages are most important in your field. For finance careers, Asian and Latin American languages are useful. If you are interested in information systems management, consider Russian or the languages of developing nations.
- Creativity: Turning your ideas into marketing tools will make you a highly-valued employee. Creativity is vital to multinational corporations, which must sell their products to a variety of customers. If your concept successfully redesigns a popular American product for sales in New Zealand, it may propel you into a management position.
- The ability to work under pressure: The launch of a new ad campaign or product is extremely intense; unforeseen cultural issues and trade barriers can arise at the last minute. You will be at a competitive advantage if you can meet impending deadlines quickly.
The international business profession is expanding rapidly as an increasing number of companies conduct multinational transactions. International business is influenced by numerous socio-cultural, political and legal factors; overall employment is expected to rise as organizations like the European Union expand and recruit new economic partners.
Your specific field may be in accounting, finance, marketing, management, purchasing or production, but whatever your specific focus, you will engage with global and cultural business issues. Common job titles include Import/Export Agent, Foreign Currency Investment Advisor, Foreign Sales Representative and International Management Consultant. Frequent employers include banks, import/export corporations, multinational manufacturers, consulting firms, international nongovernmental organizations (NGOs), electronics companies and transportation industries like shipping and airlines.
Salaries in international business depend upon the size and location of the company, as well as your own related experience, level of education and cultural skills. Entry-level earnings can range from $24,000 to $40,000, and these numbers will increase significantly-into six figures-if you have earned an MBA or Master's degree.
Northeastern University - College of Business Administration
Northeastern offers its AACSB-accredited MBA program in a 100% online format. They are a world leader in practice-based education focused on expanding students' managerial skills and knowledge base.
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University of Phoenix
University of Phoenix makes quality higher education highly accessible for working students through convenient campus locations and flexible online classes. Get a real-world education with real value.
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Strayer University
Strayer University is dedicated to helping busy, working adults achieve their educational goals with a valuable, real world education in a fast, convenient format offered online or at one of many campus locations.
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