International business is a constantly growing and evolving field and many companies are seeking to expand to other countries. Online international business degree programs provides students with a solid understanding of how globalization affects business practices and prepares students to understand international business markets and foreign cultural, political, and social environments. Students will also learn how to conduct business at the international level and understand how it is different from domestic operations. A bachelor degree in international business is typically required for entry-level positions in international business and many professionals start their career with this degree. Read more about online international business degree programs.
In 2006, there were 5,285 bachelor degrees, 3,010 master degrees, and 23 doctorate degrees conferred in international business/trade/commerce (1). According to Payscale.com, individuals with Master of Business Administration degrees with international business concentration earned average annual salaries from around $53,000 to $93,000 depending on field and position (2). In 2006, management analysts held around 678,000 jobs, with 27% being self-employed (3).
Employment outlook for international business jobs varies greatly depending on degree, field, and position. The international business field is constantly growing and increasing demand for international business professionals in a variety of areas. Employment of management analysts is expected to grow much faster than average for all professions from 2006 to 2016, increasing 22% and adding 149,000 new jobs (3).
International business is a large field that includes many different sectors and industries. Students can choose from a variety of specialties to lead a meaningful career. International business specialties include business administration, accounting, financial management, marketing, trade, international operations, international management, global management, foreign exchange, tax, customs, non-profit management, and global enterprises. Students who are interested in a specific specialty should select schools that offer strong programs in that particular area.
What to Expect
International business degree programs focus on general business concepts and give a unique perspective on international business practices. Undergraduate international business programs require general education courses in English, composition, mathematics, science, history, and electives. Core coursework varies by program but most programs require courses in international business practices, accounting, economics, international marketing, statistics, finance, business law, financial management, international commercial law, international business negotiation, and international finance and settlements. Students expand on their instruction by studying case studies and applying them to real life situations. Graduate degree programs focus on more specific areas with a stronger emphasis on international relations. Many students pursue a Master of Business Administration with concentration on International Business.
The End Result
Undergraduate international business degrees open the door to a wide variety of career options in many different fields. Most international business positions involve sales and marketing and many graduates pursue positions in economics, politics, and finance. Graduate degrees prepare students for more advanced and management positions. Career opportunities for international business degree graduates include:
- Business Development Manager
- Project Manager
- Financial Controller Business Development Analyst
- Marketing Manager
- General Operations Manager
- Regional Sales Manager
- Management Analyst
- International Economist
- International Trade Specialist
- Import Compliance Specialist
- International Banking Officer
- Cultural Advisor
- International Business Systems Analyst
- International Business Manager
- International Business Communications Coordinator
A career in international business will be rewarding for individuals who have a strong interest in international business. International business professionals use their understanding of the global business strategies, government relations, and strategic alliances and apply it to many different fields in the global marketplace.
(1) SOURCE: U.S. National Center for Education Statistics, Digest of Education Statistics
(2) SOURCE: Payscale.com, Salary Survey for Degree: Master of Business Administration (MBA), International Business
(3) SOURCE: Bureau of Labor Statistics, Occupational Outlook Handbook 2008-2009 Edition