MBA in International Business: Salary and Career Facts
Would you like to be responsible for helping a business succeed in the global marketplace? Earning a Master of Business Administration (MBA) in International Business will enhance your knowledge of the global business environment and prepare you for top positions within corporations all over the world. Read on to learn more about the career opportunities available to individuals with an MBA in International Business. Schools offering International Business degrees can also be found in these popular choices.
What Skills Can I Acquire in an MBA in International Business Program?
A Master of Business Administration program with a specialization in international business combines advanced management practices with an understanding of business conduct in foreign environments. As a student, you learn about global economic trends and how to identify business strategies and opportunities in foreign markets. Many programs require students to develop skills in a second language. You may also have the opportunity to study abroad or complete an internship overseas to gain first-hand experience in a foreign business environment.
What Jobs Might I Pursue?
Once you have your MBA in International Business, you may remain with your current employer and move up to a higher-level position with more responsibility or you could seek a new position within a larger company. You may qualify for managerial and top executive positions and direct the overall operations of a business. Your job title might be chief executive officer, chief operating manager or financial manager.
An understanding of global economic trends and cultural issues are valuable in many areas of business. Careers in business development, entrepreneurship and international finance are common among MBA graduates with an international business focus. Other areas of business you may enter are sales, marketing and information technology. Potential employers include international financial institutions, investment firms, banks, multinational corporations and government agencies. Depending on your interests, you may also seek employment abroad.
What Do I Need in Addition to a Degree?
You may wish to consider completing company training programs to advance within your organization. International seminars and conferences can also keep you updated on international business trends and new developments within your industry. And although they are not generally required, certification is another strong way to demonstrate your knowledge and skills and remain competitive in the marketplace.
The International Certification Institute offers the Certified MBA (CMBA) designation to qualified professionals. This certification verifies mastery of the main curriculum areas required among the MBA programs accredited by the Association to Advance Collegiate Schools of Business. You need to complete an online application, submit transcripts and pass an exam to earn your CMBA credential. The Institute of Certified Professional Managers offers a Certified Manager (CM) credential for professionals at all levels of experience. You must have a certain amount of work experience in addition to a degree to sit for the three exams needed to earn this designation.
How Much Can I Expect to Earn?
Expect your salary to vary considerably depending on your type of work, level of responsibility, level of experience and the size of your company. Top executive positions within large, international corporations have very high earnings potential. According to the U.S. Bureau of Labor Statistics (BLS), the median annual wages of chief executives were $160,720, while the median annual wages of general and operational managers totaled $92,650 as of May 2009. In addition, financial managers had median annual wages of $101,190 as of that same year, reported the BLS (www.bls.gov). Corporate executives and managers often receive stock options and performance bonuses in addition to their base salaries. Non-monetary benefits are also common, such as the use of a company car and expense allowances while traveling or entertaining clients.
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