Globalization has changed the way we interact with other countries and conduct business. An MBA in International Business is essential to conducting business in and with other countries, especially in the digital age. By concentrating in this area, you can choose to work for multinational corporation or a government organization, or you can start your own company and have the skills and knowledge to know it will be a success.
An MBA in International Business offers students advanced preparation career opportunities, and a sense of legitimacy. Students can often personalize their course of study, tailoring it to their professional needs and personal desires. Courses in cross-cultural management, global economics and finance, and international marketing are common core requirements.
Business majors with a master’s in their respective fields earn, on average, $87,000 annually. Pay depends on where you are located, and urban areas are in greater need than rural areas. Pay also depends on international standards and requirements based on the global market.
What Can I Expect from an Online MBA In International Business Program?
The online MBA in international business focuses on the study of business concepts as they relate to international business practices. Large corporations understand the necessity of going global if they want to compete in the expanding global marketplace. For this reason, professional students with advanced degrees are needed to help ensure the success of the corporation. Graduates with an online MBA in international business are prepared to meet the needs of advancing technologies and accelerated communications to occupy roles in global companies of all sizes. The online MBA in international business is ideal for those currently working both full- and part-time jobs who want to further their careers. When looking for a program, it’s important to choose one that fully aligns with your current goals and one that can accommodate your schedule and your needs.
Concentrations Offered for an Online MBA In International Business Degree
|CONCENTRATION||DESCRIPTION||CAREERS THIS CONCENTRATION PREPARES FOR|
|International Business||Classes focus on the opportunities, uncertainties and business risks associated with today’s global environment. This includes the study of international business concepts and real-world experiences in a variety of social, political and economic contexts.||Business managers, domestic and multinational organization managers|
|International Finance||Coursework exposes professional students to the challenges of international capital markets. Classes also focus on investments and corporate finance, commercial banking, risk management and portfolio diversification in the global market.||Investment banker, financial analysts and management analysts|
|International Supply Chain Management||A concentration in supply chain management explores operations from a global perspective. Students gain a deeper understanding of process strategies, logistics, inventory management and supply chain functions.||Operations manager, supply chain manager and production manager|
Curriculum for an Online MBA In International Business
The MBA in international business is a highly specialized program that lets you focus solely on issues related to international business. While the program may vary depending on which online school you choose, most international business master’s programs focus on topics like governmental policies, financial services, cross-cultural management and unique customs and attitudes. Some examples of coursework include:
Financial management policy: Focuses on capital markets and corporate finance with an emphasis on risk and return, financing policy and firm valuation
Global accounting and financial analysis: Seeks to inform students on international accounting and financial techniques. It covers how different countries, industries, markets and regulatory regimes have an effect on accounting and finance
Global marketing management: Teaches the understanding of cultural, financial, geopolitical and international economic issues
International business: Gives students an understanding of global economic business trends and prepare for leadership roles in accounting, financing, management and marketing
International trade law: Covers all elements of international trade, negotiation, imports, exports, purchasing, supply chain, sales and e-commerce.
How Long Does It Take to Get an Online MBA In International Business?
The online master’s of business administration in international business take 18 months to two years of study with the completion of an average of 30 credit hours. Students with a non-business background may be required to take additional classes to complete their MBA prerequisites. Some schools offer an accelerated full-time MBA course that makes it possible to complete the degree in one year. If you choose to go to school part-time, it can take up to three or more years to complete. Some students may opt for a dual concentration, which extends the program by as much as five years with up to 60 credit hours of coursework.
Certifications and Licenses an MBA In International Business For
|Certified Business Manager||The CBM certification is offered by the Association of Professionals in Business Management. The four-part, 16-hour exam is a master’s-level certification based on the MBA curriculum. It may be earned while you are pursuing your degree or after completion. It provides proof of mastery of business management principles.|
|Certified Management Consultant||Awarded by the Institute of Management Consultants, the Certified Management Consultant certification is awarded to professionals who complete both written and oral examinations in ethics and global standards in consulting.|
Accreditation for Online MBA In International Business Degrees
When looking for an online master’s of business administration in international business degree, it’s important to find a program that is accredited. Most employers require evidence a potential employee has received training and education that meets industry standards pertaining to the degree. Also, for students looking for assistance paying for a degree, federal financial aid is only available for accredited schools. For business majors, there are two industry-specific accrediting agencies:
Association to Advance Collegiate School of Business(AACSB) – ensures programs meet all quality assurance standards
Accreditation Council for Business Schools and Program (ACBSP) – focuses on recognizing teaching excellence, student outcomes and a continuous improvement model.
Employment Outlook for MBA In International Business Graduates
Job Placement: Master’s v. Bachelor’s
According to the Bureau of Labor Statistics, in 2013, the average salary for those with master’s degrees was approximately $12,000 more per year. In the field of international business, some employers require a master’s degree for entry-level positions, especially those dealing with finance and sales. Those who worked in securities and commodities earned as much as 90 percent more than those with a bachelor’s degree alone.
Salaries in business across all occupations range from the lowest 10 percent who make around $37,000 per year to the top tier earners who make around $118,000 per year. The amount of experience, certifications and the title of the job held can affect your overall salary.
Median Salary for MBA In International Business Degree Holders
Source: Bureau of Labor Statistics
Individuals across all business professions can still earn a significant salary with a bachelor’s, though to achieve top salaries a master’s degree is usually required. Consider some of the business occupations where master’s degrees earned premiums over undergraduate degrees.
Bachelor’s vs. Master’s Comparison
|State||Average Salary with a Bachelor’s||Average Salary with a Master’s|
|Securities, Commodities and Financial Services Agents||$90,000||$170,000|
|Market Research Analysts||$65,000||$90,000|
Source: Bureau of Labor Statistics
Professionals who achieve a master’s of business administration in international business have a wealth of job opportunities to choose from. While most hold positions of upper-level management within global companies, others may find employment with government agencies and financial institutions.
|JOB TITLE||JOB DESCRIPTION||MEDIAN SALARY FOR GRADUATE DEGREE HOLDERS||PROJECTED GROWTH RATE|
|International Marketing Director||International marketing directors work with upper-level management to advertise, promote and plan programs that generate interest to products and services. They also work together with art directors, sales agents and financial departments.||$129,380||10%|
|Financial Controller||Manage the financial exchange of money across countries. They also produce reports, direct investment opportunities and develop strategies for the long-term financial health of a corporation.||$125,080||19%|
|Multinational Manager||Individuals in multinational manager positions help devise strategies and policies for companies in different countries. These managers ensure that all companies meet their goals and can plan, direct and coordinate operational activities.||$104,700||8%|
|Business Development Manager||These professionals are in charge of training and developing the managers within a company. They also plan and direct programs that enhance the knowledge and skills of a company’s employees.||$108,230||10%|
|International Trade and Customs Manager||Head of customs managers make sure products pass through customs when shipping products internationally. They also track shipments and pay the duties and fees involved in shipping products overseas.||$115,760||8%|
|International Foreign Policy Advisor||Foreign policy advisors study the origin, development and operation of foreign policies. They also research political ideals and analyze governments where the businesses are located and advise management on how to handle issues.||$115,110||3%|
Joining a professional organization provides members with a competitive advantage over other graduates in the same industry. These organizations keep their members up-to-date on the latest industry trends, including technology, legislative rulings and provides connections with important leaders in the business world. Consider the following professional organizations for those who hold an MBA.
International Academy of Business and Economics (IABE). The IABE is a leading global organization of academic scholars, students, business executives and policymakers within the international world of business. The academy promotes the exchange of company ideas, leadership methods, research, teaching and managerial practices among its members.
Academy of International Business (AIB). Considered the leading association of scholars and specialists in international business, the AIB has over 3,000 members spanning 93 countries across the world. By becoming a member, MBA graduates have access to print publications, attendance to the annual AIB conference and access to the online AIB membership directory.
International Academy of Business Disciplines (IABD). The IABD promotes the acceptance of all cultures, ethnicities, values and beliefs within the business organization. The group provides educational opportunities in international business and holds an annual conference, where members of the business community can come together to discuss ideas, network and share knowledge of the business world.
Financing Your Online Master’s of Business Administration in International Business
Online degrees often cost a fraction of on-campus degree programs, especially individuals who choose a college that is in another state. With online classes, in-state and out-of-state tuitions are usually the same. Despite the lowered costs, most students still look to financial aid to help pay for the costs of classes. The first place to begin your search is with the free Federal Application to Federal Student Aid. This gives you information on any grants, loans and scholarships that are available through the federal government. Many organizations offer scholarship programs to those looking for a master’s in business administration in international business degree. Consider the following programs that help pay for your classes.
| Celia M. Howard Fellowship|
Deadline: November 15
Eligibility: Available to mature Illinois women who are pursuing advanced degrees in international business, diplomacy, international management, law and justice. Applicants must be U.S. citizens and have a minimum undergraduate GPA of 3.0.
ARRL Foundation Scholarship
Deadline: January 31
Eligibility: Applicants must pursue a master’s in international business, trade, relations, marketing, affairs or another closely related global study. The individual must also have an active technician class license or higher, demonstrate financial need, possess academic merit and submit a personal statement.
Mary Kathleen Berry Study Abroad Scholarship
Deadline: April 15 and October 15
Eligibility: Qualified students must demonstrate financial need, carry a minimum GPA of 3.0, be a U.S. citizen and are currently working towards the completion of a Georgia State University degree in international business or global media.