A career in international business gives motivated and ambitious globe trotters a lot to be enthusiastic about. It is because of the vast and dynamic growth and profit in the technology and communications sectors that many corporations have been able to expand and move abroad. This is increasingly beneficial to those individuals with the skill set, able to meet the requirements of these large multinational organizations across the globe. Taking your job from one location to the next is quite thrilling for those professionals with a global vision.
Obtaining an MBA, a Master in Business Administration, provides professionals the general skills needed to effectively run a business. In addition, these skills are transferable into a wide array of careers. The same is true in regard to a Master in International Business degree. It too, offers a multitude of career growth and opportunities.
What kind of earning potential can you expect?
International salaries will vary across a spectrum of businesses and industries. The main criteria that effect salaries is based upon what type of business you are involved in.
- What are you specialized in? From shipping and cargo freights to high-tech, salaries will vary significantly based upon your knowledge set.
- Who do you work for? Larger multinational companies often have higher salaries, more career growth potential, and benefits in comparison to small ventures, but this is also influenced by the next point.
- Where are you working? Geographic location and cost of living will impact your salary. Do your research and know what economic environment you want to do business in and what the profit margins are.
Talking in gross figures, what is the salary range for international business professionals?
This question is difficult to give an exact answer to because it depends on a variety of factors. Most career possibilities for individuals open to business and travel will be dictated by supply and demand.
On average, the higher the degree the professional has earned will transmit into an increase in salary potential. For example, earning a bachelor’s degree in business administration, professionals can expect to add $2,000-$5,000 more per year in earning potential to their salary. Whereas earning a MBA or Master in International Business can approximately add $7,000-$11,000 per year in earning potential to the pay stub. It is important to note, individuals with a master or doctorate degree will typically start out in higher level management positions which should be figured into the increase in salary potential.
Will there be competition?
Of course. Business today, in the 21st century is relentless. What once worked for job seekers in the past, now necessitates more education and qualifying credentials such as licensing or specialized training.
How do you stand out from the competition?
- Having proficiency in a second or even a third language will set you apart and make you more viable for certain markets.
- In today’s modern world, it is almost vital that business professionals are also tech savy individuals, with a willingness and, more so, an eagerness to gain more experience and develop with the fast-paced advancements.
- Increase your knowledge about computers, software and have the capabilities to manage these functions and the people involved.
What does a professional in international business exactly do?
In general, these individuals are the public faces of the companies they work for. They act with knowledge, professionalism, and cultural sensitivity and empathy. Ultimately, they serve to facilitate deals, relations, and transactions that benefit both parties.
International business professionals also have certain soft skills that make then attractive for their role. These skills include being a strong leader, having good ethical behavior, being an expert in the industry, and being able to adapt to new technology.
Common job titles include, but are not limited to the following:
- Import/Export Agent
- Translator/Interpreter
- Foreign Currency Investment Manager
- International Management Consultant
- Management Analyst
- Budget Analyst
- Human Resources Manager
- Financial Manager
- Marketing Manager
Employers include:
- Banks
- Import/Export Corporations
- Multi-national Manufacturers
- Consulting Firms
- International NGO’s
- Electronic & Tech Companies
- Transport Industries such as Shipping and Airlinesi
The Master in International Management (MSc) program at GBSB Global Business School in Barcelona, Spain is a unique masters program in international business management with a specific emphasis on global aspects of business which have been designed to meet the growing needs of today’s multinational companies and educate graduates who have international management skills, proficiency in a foreign language, and cross-cultural competencies.
The Master in International Management program at GBSB Global Business School provides a detailed examination of a range of business issues from the global economy to cross-cultural negotiations and leadership. Students participating in the Master in International Business Management program learn how business is conducted around the world, from Asia and Latin America to Europe, Russia and CIS, and Africa. GBSB Global Business School prepares its students to be viable and competitive in today’s cut throat business market and obtain the careers they so desire.
[i] What You’ll Do In an International Business Career. All Business Schools. Retrieved from www.allbusinessschools.com/international-business/job-description
