Master in International Business
What is MSc in International Business and Who does it apply to?
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 –
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:
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
Career Growth & Salary
Handling complex global assignments and developing an international network are the 2 key takeaways from MSc in International business, which is bound to give you a huge career boost.
Salaries post MIB vary as per the alma mater and the industry.
The average annual salary of MIB students is around $58,000.
For the star performers of the programme, it can go upto $124,900.
Recruiting Companies For Masters International Business
Companies across the globe are looking for managers to cater to their business expansion and diversity needs.
Here are some of the companies which recruit MSc in International Business graduates.
|HSBC||Procter & Gamble|
|McKinsey & Company||Capgemini|
|Ernst & Young||Shanghai Bank|
|First Direct||Glaxo Wellcome|
Global Schools For Masters International Business
There are several universities across the globe which offer a specialization in International Business.
Here is a compilation of 15 popular universities offering this course.
For the comprehensive list of universities offering MSc in International Business, Click Here.
Duration and Admission Requirements
Most MSc in International Business are full-time programmes and their duration is typically up to 1 year.
The Admission requirements for these masters, is more or less, generic for all schools, with slight variation from one school to another. For most of the MSc Programmes you need to fulfill the following criteria:
- Management Aptitude Test- GRE/GMAT (Please note, this requirement, however, is also waived by certain schools and thereby is optional for many of the programmes)
- Well rounded, internationally Recognised Undergraduate Degree in a relevant field & transcripts . For MIB, a bachelor’s degree with first or upper second class honors is preferred.
- A professional RESUME/CV
- English Language Proficiency Test- IELTS/TOEFL/TOEIC. (Several Schools provide waivers to its students, provided they have English as their mother tongue, is a native speaker or has done their bachelor degree from an English-medium university)
- Letter of Recommendation (minimum 2)
- Non-Refundable application fee(Varies from school to school)
- Motivational Letter or Essays
- Proof of Work Experience. (Not all programmes have mandatory criteria regarding work-ex. Most schools accept fresh graduates while a minority needs a work experience of 2 years.)
Although It is not mandatory for all MSc International Business, a well-balanced GRE/GMAT can increase your chances of acceptance manifold.
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