MBA in International Business: Careers, Scope and Salaries
Businesses are going global. In today’s day and age, geographical boundaries have blurred as organizations serve customers around the globe. This necessitates a need for professionals who are well-versed in handling global business operations.
A Master of Business Administration(MBA) is a desired course to pursue for students interested in gaining a deep understanding of business. An MBA is a specialized course and comes under various specializations viz. finance, operations, and so on. Today we will be exploring - MBA in International Business. We would also look at career scope, job roles, and salaries to expect upon graduation. Without further ado, let’s begin.
Why an MBA in International Business?
The World Economic Forum predicts a doubling of global trade in 2024. This is wonderful news for aspirants of an MBA in International Business because now than ever, there is a booming requirement for skilled professionals. An MBA in International Business offers some key benefits;
Understanding of Global Environment
Each market has its nuances. An organization needs to have a deep understanding of overseas markets if they have to be successful in them. They need to navigate around potential landmines and handle the cultural differences gracefully. An MBA in International Business equips students with knowledge and understanding of best global practices. This helps them to essay into professional roles with confidence.
Leadership Skills
A hallmark of an MBA program is the development of the leadership skills of a candidate. They are essential when leading an organization across borders and help shepherd teams towards achieving business goals. An MBA in International Business helps one to lead keeping cultural differences in mind.
Communication Skills
Communication is key when it comes to dealing with cross-border teams. A candidate should have excellent command over his skills to conduct business in the overseas market. Pitching products or services, tackling cultural differences, and understanding the finer nuances - all require polished communication skills. An MBA in International Business hones the necessary skills turning students into professionals ready to tackle any communication challenges they may encounter in global markets.
Understanding Key Areas in International Business
An MBA in International Business prepares students for a wide range of global business operations. These include operations, finance, supply chain, marketing, trade, export-import, foreign policy, and more. To prepare students for a successful career, an MBA program offers comprehensive skill development that guarantees students are exposed to international business in it’s entirety.
Top Recruitment Sectors for MBA in International Business
MBA pass-outs can expect to be employed across a wide range of sectors. These include;
1. Logistics Management
2. Travel and Tourism
3. Export-Import Management
4. Multinational Companies
5. Foreign Exchange Management
6. Technology
7. Hospitality
8. Airlines
9. Banks
10. Compliance Management
Career Options post an MBA in International Business
Along with great pay, an MBA in international business offers a wealth of chances in both the public and private sectors of eminent multinational corporations (MNCs). Here are a few key ones;
1. Business Development Manager
The Business Development Manager is responsible for identifying and pursuing business opportunities globally. Forming a sound business plan and its execution also falls under the purview of a business development manager. He has to ensure all teams function in sync with the plan. This position requires collaboration across the various involved stakeholders.
The salary of a Business Development Manager ranges from 5.5 - 26 LPA : source
2. Global Supply Chain Manager
A business can grow globally only when its products are available worldwide seamlessly. This requires a robust supply chain. A global supply chain manager is responsible for purchase, manufacturing, transportation & inventory management. They ensure the products are delivered to their global destinations on time and at an optimum cost.The salary of a Global Supply Chain Manager ranges from 4 - 34 LPA : source
3. Global Project Manager
The position of a global project manager requires serious orchestration of collaboration. He is responsible for being available across time zones on suitable platforms for various stakeholders. He is tasked with managing cultural differences and language barriers to keep a close-knit team.
The salary of a Global Project Manager ranges from 7 - 44 LPA : source
4. Global Investment Banker
A global investment banker is responsible for raising funds for a business. They help companies with IPOs, bond listing, mergers, and acquisitions and they also provide advisory wherever required. They play a vital role in an organization. They ensure the organization has ample monetary resources to survive in this competitive world.
The salary of a Global Investment Banker range from 2 - 51 LPA : source
5. Global Operations Manager
The position of a global operations manager involves coordination across different departments to facilitate the effective delivery of an organization’s goods and services in global markets. The global operations manager makes sure that every department collaborates while putting the company's goal in the forefront. This job demands managing cross-border teams and handling subsequent cultural differences.
The salary of a Global Operations Manager ranges from 6.5 - 39 LPA : source
There are many more job roles in International Business viz. Foreign Diplomat, International Trade Compliance Manager, and Logistics Manager to name a few.
Top Recruiters in the Private Sector
You may expect the best of the best organizations post-graduation from an MBA in International Business. Here are some key recruiters who hire fresh MBA pass-outs;
1. J.P. Morgan Chase & Co. (JPMCC)
2. Accenture
3. Tata Consultancy Services Limited
4. Cognizant
5. Standard Chartered Bank
6. Amazon
Government Jobs post an MBA in International Business
If a candidate desires, there are opportunities for MBA in International Business in the government sector. Top recruiters in government sectors include,
1. The Shipping Corporation of India Ltd
2. NLC India Limited
3. Steel Authority of India Limited (SAIL)
4. GAIL India Ltd
5. National Thermal Power Corporation(NTPC) Ltd
6. Ai Airport Services Limited (AIASL)
Conclusion
As is evident, an MBA in International Business provides pathways to some of the most high-paying careers. An MBA course is the perfect career choice for those willing to work overseas or handle international clients. On graduation, one is assured of a high-paying job in a wide area of global operations. Given the booming International Business scenario, it promises ever-growing career opportunities.
ITM Business School offers an MBA program in International Business. Key benefits of this MBA program include a 5-month industry internship, a research-based capstone project, experienced faculty, 35+ add-on certifications, and much more. The alumni have been placed in top organizations across the world in myriad positions. Join ITM for an MBA in International Business, a perfect MBA course to drive your future aspirations.