With the advent of globalisation, establishing a strong online presence has become a necessity for every business. International Business has emerged as a crucial academic discipline that studies trade practices and commercial markets on a global level. It analyses contemporary challenges related to international trade along with delving deeper into the arena of global economics as well as laws and regulations related to international business practices. A Masters in International Business (MIB) is a postgraduate program comprising the study of globalisation and how it has impacted the trade practices on a transnational level. If you are planning to pursue a MIB course, here is a blog elaborating the key details of this program, its syllabus, eligibility criteria and top universities you can choose from.
Must Read: MIM: An Ultimate Guide
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What is a MIB Course?
A MIB course aims to provide students with a deep insight into the international business management, foreign markets and how trade challenges are managed on a transnational level. It is emerging as popular program amongst those wanting to study globalisation concepts such as foreign trade policy, trade finance, forex risk management, export management, amongst others. It equips students with the management and analytical skills required international trade activities along with familiarizing them with global trade compliance laws.
MIB Course: Highlights
|Course Level||Post Graduate|
|Full form||Master of International Business (MIB)|
|Eligibility||50% marks in the Bachelor of Commerce undergraduate degree or equivalent qualification|
|Admission process||Entrance exam based|
|Course fee||INR 60,000-15,00,000|
|Average Salary||INR 5 to 16 LPA|
|Top Recruiting Companies||Abbot, Ernst & Young, HCL, Bharti Airtel, Citi Bank, RBS, Reckitt Benckiser|
|Job Positions||Investment Banker, Global Business Manager, International Marketing Manager, International Finance Manager|
Why To Study MIB?
- The benefits listed below make MIB a good option for students:
- The curriculum provides students with practical business skills with a focus on an understanding of the global and multi-cultural marketplace.
- Students can broaden their regional expertise while improving their understanding in fields including corporate finance, security, and humanitarian challenges.
- Job opportunities are available in the travel, tourist, and hospitality industries, banks, securities firms, import/export businesses, consumer durables, electronics, and FMCG companies, as well as in the foreign direct investment and economic development agencies.
- The course is specially positioned to enhance your contextual intelligence by sharpening your capacity to comprehend how politics, law, culture, and society affect the business world.
Know All About the MBA in International Business!
To apply for a MIB course, here is a list of eligibility requirements you need to keep in mind:
- A bachelor’s degree with upper or second class honours from a recognised institute.
- Management Aptitude Tests like GMAT.
- Minimum 2 Letters of Recommendation (LORs).
- English Language Proficiency Tests such as TOEFL, IELTS, TOEIC, etc.
- Some universities may prefer candidates with verified work experience but the majority of universities accept fresh graduates.
Syllabus for MIB Course
The curriculum of the MIB course may fluctuate from one university to another. Here is a list of some general subjects included under a program in International Business:
- Key Marketers: Study of the business markets on a global level majorly focusing on countries like India, America, China, Japan, Korea, Africa etc.
- International Management: This subject includes varied concepts like global business laws, international relations, intercultural management, international negotiations, amongst others
- International Marketing: It comprises of market analysis, international marketing management and business consulting.
- Accountancy: With its integral focus on the spectrum of International Business, subjects like international accounting, financial risk management and Incoterms, amongst others are covered.
- Strategy & Operations: It involves the study of day-to-day operations of a firm like project management, strategy building, international supply chain management.
- Economics: It consists of a detailed study of managerial economics, microeconomics of competitiveness and global economics.
Entrance Exams in India
|Exam Name||Registration Date||Exam Date|
|CAT||August 3, 2022 – September 14, 2022||November 27, 2022|
|XLRI XAT||August 2022||January 1, 2023|
|NMAT||August 2022 – November 2022||October 2022 – December 2022|
|CMAT||February 16, 2022 – March 17, 2022||April 9, 2022 (3:00 PM to 6:00 PM)|
|MAT||September 13, 2022 (IBT)
August 29, 2022 (PBT)
September 12, 2022 (CBT)
|September 17, 2022 (IBT)
September 4, 2022 (PBT)
September 18, 2022 (CBT)
Top Colleges in India
Some of the top Master in International Business colleges in India are described in the table below:
|RVS College of Arts and Science||Coimbatore|
|Jai Narayan Vyas University||Jodhpur|
|International Maritime Academy||Chennai|
|University of Rajasthan||Rajasthan|
|The Indian Institute of Business Management & Studies||Mumbai|
|Janardan Rai Nagar Rajasthan||Udaipur|
|Dr GR Damodaran College of Science||Coimbatore|
|Department of Commerce, University of Delhi||Delhi|
Major Universities & Colleges offering MIB Courses
There are numerous universities and colleges that offer MIB courses across the globe. Below we have mentioned some of the major academic institutions that are renowned for their programs in International Business:
- University of Alberta, Canada
- University of Greenwich, London
- University of East London, London
- The University of Melbourne, Australia
- University of Regina, Canada
- University of Victoria, Canda
- University of Sydney, Australia
- Northumbria University, UK
- University of West London, UK
- University of Birmingham, UK
- Sydney Business School, Australia
- University of Wollongong, Australia
- EU Business School, Spain & Switzerland
- York University, Canada
- Central Queensland University, Australia
- Queen’s University, Canada
- La Trobe University, Australia
- Deakin University, Australia
- Northeastern University, USA
- University of Warwick, UK
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After completing a MIB course, you can avail an array of job opportunities across varied fields of Commerce. From Management to Banking, here are the most popular career profiles in the field of International Business:
- Business Development Manager
- International Business Consultant
- International Business Developer
- Business Development Specialist
- Finance Management Analyst
- International Accountant
- Global Marketing Manager
- International Expansions Manager
- International Economist
- Manager Analyst
- International Management Consultant
- Global Leader-Learning and Analytics
- Human Resource Adviser- International Assignments
- International Banker
- Customs Compliance Specialist ( or import-export)
- Talent Manager Associate
Attaining the knowledge of how the international market works and its governing laws, students who have completed a MIB course can apply for top-notch business giants like,
- Ernst & Young
- First Direct
- Coca Cola
- AC Nielsen
- Shanghai Bank
- Procter & Gamble
- Glaxo Wellcome
- Britannic Assurance
- McKinsey & Company
MIB Course Comparison
MBA stands for Masters of Business Administration, and MIB stands for Master in International Business. Both of these courses have distinct subject areas and specialties. The following are the main distinctions between them:
|Full Form||Master in International Business||Master of Business Administration|
|Type||Academic Degree||Professional degree|
|Domain||International Business||Business Administration|
|Objective||It focuses on strategic planning for international operations||It is more focused on developing business and technical knowledge among students|
|Admission process||Entrance exam||Entrance Exam|
|Specialization||None||Marketing, Finance, Operations, Human Resources|
|Average Fees||INR 60,000/- to INR 15,00,000/-||INR 20,000/- to INR 20,00,000/-|
|Average Placement Package||INR 10 LPA||INR 15 LPA|
|Job Opportunities||Investment Banker, Global Business Manager, International Marketing Manager, International Finance Manager||Marketing manager, Financial manager, Human resources manager, Nonprofit director, Operations manager|
What is MIB course?
Master of International Business, i.e. MIB Course is a postgraduate program which generally encompasses the duration of 2 years. Pertaining to the study of Business and Management, it aims to impart students with the knowledge of international trade practice as well as identification and management of challenges that occur through planning, coordinating as well as surveilling business activities on a global scale.
Which is better MBA or MIB?
MBA and MIB differ in their course structure and curriculum. While a MIB course is more specialised and focused on providing students with the knowledge of international business and foreign practices, an MBA program encompassed a wide range of specializations as well as is more concentrated on practical and professional exposure.
What is the difference between MBA and MBA IB?
An MBA is more of a generalized degree while an MBA IB is a specialized postgraduate program. Further, a general MBA program comprises the knowledge of all specializations under business and management as well as interdisciplinary subjects while an MBA IB will centrally provide the knowledge of how international businesses work as well as the laws, ethics and other aspects concerned on a global level.
Thus, a MIB course is an ideal one for those wanting to grasp the knowledge of the international market and how it has immensely changed with the phenomena of globalisation. If you are planning to pursue a degree course in International Business and don’t know where to start, take the help of our Leverage Edu‘s AI tool to browse through a plethora of programs offered in this field and find the right one that matches your interests and career aspirations.