Today’s business world is a highly-competitive force, and those who work in this profession must be prepared for all types of demands. A master’s degree in international business introduces students to the expertise they’ll need to conduct business in the international marketplace as business executives. In a master’s degree, students will learn about things like business theories, conditions that affect international businesses, the management of international relations, and the role of culture in international business operations. By the end of their degree program, students will have the tools to kick start their business career, applying for jobs both international and domestic.
Why a Master’s Degree?
Entry-level careers in international business require students to have a bachelor’s degree or associate degree in international business. Those who want to work in executive positions, however, are almost always required to have a master’s degree. According to the U.S. Bureau of Labor Statistics (BLS), financial analysts can find career opportunities with just a bachelor’s degree, but a master’s degree is extremely beneficial to those who wish to become executives and managers. Management analysts, too, often have to complete a master’s degree before being promoted to management or executive position.
Getting Into a Master’s Degree Program
The admission requirements for an MBA in international business are different at every college. To give you an idea of what to look out for in most colleges, here are some of the most common requirements:
- Bachelor’s degree in international business or related subject
- Relevant work experience
- Current resume
- Academic and/or professional letters of recommendation
- Desired GMAT or GRE scores
Inside a Master’s Degree Program
Three to five years is all it usually takes to complete a master’s degree in this subject. Courses featured in this master’s degree often include accounting principles, decision-making techniques, legal issues in business, finance, global supply chain management, and various others. In a master’s degree program, students are also required to complete independent thesis research. This research requires students to explore current trends or technologies in the field, delve into in-depth research analysis, and develop potential solutions to problems in international business.
Online international business degrees are available to students who need or desire the luxury of virtual programs. International business degrees are almost always offered fully online, but some schools may require students to meet with faculty throughout the year or travel to testing centers to take exams. Since students are in charge of managing their class schedules and course progress in online degrees, they must be on top of their studies at all times.
What’s Next for International Business Bachelor Degree Holders?
High-level positions in business, finance, sales, and other business-centric industries may be available to master’s graduates. One of the most common executive positions attained by international business graduates is in management analysis. The BLS lists the average salary of those who work in management analysis at $78,160 a year. Top executives usually earn about $101,250 a year. Unfortunately, top executive positions are only expected to grow 5% over the next few years.
Professionals who want to continue their education after graduating from an international business grad school may want to consider a Ph.D. in international business. A doctorate degree is suitable for those who want to work in postsecondary teaching, research, or academia. Those who want to seek out additional career training are encouraged to consider a certificate in international business.