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Students who wish to continue their education after graduation often choose to enroll in master’s programs. Such programs are also required before students can obtain doctoral degrees. Master’s degree students gain specialized knowledge that usually puts them in higher salaries and more responsible jobs.
If organizations aim to remain competitive in the current economy, sticking to the domestic market is never the part of the plan.
Recruiters are constantly on the lookout for managers who can understand the global market and have the aptitude to handle expansion plans.
Masters in International Business is a program designed to study business functions in sync with the global economy.
Its curriculum revolves around international business models and specialized functions such as –
- International marketing
- International finance
- International human resource management
- International Trade -exports/Imports
Demand For the MSc in International Business
In the current digital economy, every business has some connection with international networks in the form of customers, channel partners, and consultants.
As reported by the U.S. Bureau of Labor Statistics, the demand for business administrators is expected to grow about as fast as average for all occupations.
Here is the demand estimate for key managerial positions:
|Increse in Demand
Who Is It Applicable To?
Masters in International Business caters to business & non-business students who aim to establish or accelerate their career in international business.
It is aimed at recent graduates and people with below 2 years of work experience, although there is a minority of universities that need full-time work experience.
Course Curriculum Of MSc in International Business
The course syllabus varies as per different universities. However, all programs offer students insights into:
- International Management -The topic covers international negotiations, international relations, global business laws, methodology for international market research, inter-cultural management.
- Key Markets -Knowledge about different nationalities and markets. Focuses of key global business markets like America, India, China, Japanese, Korea, Africa,etc.
- Strategy & Operations-International Supply Chain Management, Project management & strategy building
- International Marketing -Financial risk management, international accounting, Incoterms & payment methods
- International Marketing -International Marketing Management, Marketing analysis & business consulting
- Economics -Microeconomics of competitiveness, Managerial Economics
Prospects of MSc in International Business
A master’s degree in International Business will give you entry-level and managerial opportunities in a host of fields.
Popular positions for MSc in International Business include:
- Management Analyst
- International Expansions Manager
- Global Marketing Manager
- International Management Consultant
- International Banker
- Finance management analyst
- International Accountant
- International Economist
- Customs compliance specialist (Or Import-Export)
- Global Leader-Learning & Analytics
- Human Resource Adviser- International Assignments
- Talent Management Associate
Graduate School Requirements
Every graduate program is different, but some requirements apply similarly across the board. In the business world, one thing that stands out is actual business experience. At least two years of business experience, especially with some involvement of international business, is far more valuable than most undergraduate business degrees alone. While some business schools that offer a graduate degree in international business do not require an undergraduate degree in business, some do. Thus, it’s best for international students who seek a master’s degree in international business to research their school requirements. In addition to experience and previous degrees, graduate business programs also often require a GMAT or GRE score, an active passport or visa, and proficiency in a foreign language. International students should also have proficiency in English for US business schools.
International Business Graduate Program
What is a master’s degree in international business (MIB)? Broadly speaking, the MIB is a graduate degree in international business that gives business professionals insights and skills necessary for understanding and engaging with the global economy. The degree often entails studying international entities like multinational corporations, multiple economic systems, and often elements of cultural studies.
Most graduate programs in international business are relatively short, lasting one to two years for full-time students and two to four years for part-time students. Some programs offer a range of fundamental business courses as part of their training, while others require that applicants have taken these courses before enrolling.
In terms of course topics, again each program is different. In order to obtain a graduate degree in international business, students will often take courses such as Global Strategic Management, Macroeconomics, International Finance, International Marketing, Global Supply Chain Management, or International Law. Check with your potential schools to research course requirements and descriptions to make sure they offer your desired focus.
Graduate Programs in International Business
Several schools across the US offer some form of the masters in international business. Below are some prominent examples.University of FloridaUniversity of Florida’s Warrington School of Business offers a Master of Arts with a major in International Business (MAIB), which can be obtained as a dual undergraduate/graduate degree or solely at the graduate level. International students who enroll in this program are encouraged to take electives outside of the business school to augment their knowledge base in order to dynamically inform their study of international business. The final project for the MAIB program surrounds an intense and intricate study of some multinational company, such as Starbucks or Hilton.Northeastern UniversityThe D’Amore-McKim School of Business at Boston’s Northeastern University offers a master’s of science (MS) in international business. With an entrepreneurship focus, the program at Northeastern incorporates social sciences and humanities coursework (for example, Economic Sociology or Principles of Globalization) with a required international field study project to create international business professionals with well-rounded and real-world experience.Seattle UniversityThe Albers School of Business and Economics at Seattle University in Washington state embraces its Jesuit heritage by offering an MIB that focuses on leadership and service. International students in this program concentrate on globalization and world trade, all in the context of leadership formation within international commerce.