Organizations have been growing their operations in overseas marketplaces for many years. With the world shrinking and new firms springing up in every corner of the globe, the demand for students knowledgeable in International Business Management has never been greater. It’s no surprise that an increasing number of undergraduates are interested in pursuing an MBA in International Business. The programme, which is multidisciplinary in nature, provides education in business fundamentals as well as intercultural viewpoints. This assists students in developing the abilities required to pursue a profession in the global marketplace. Without further ado, let’s look at what an MBA in International Business Management can do for you and which universities have the top programmes.
This Blog Includes:
- MBA in International Business Management: Course Overview
- Why Study MBA in IB?
- Types of MBA in International Business Management Courses
- Required Skillset
- Top Universities
- Eligibility Criteria
- Admission Process
- Cost of Studying MBA in International Business
- Scholarships for MBA in International Business
- Jobs and Salaries
- Is it the Right Option for You?
|Course||MBA in International Business Management|
|Duration of the Course||Between 1 and 2 years (based on top 3 universities)|
|Entrance Exams||IELTS, PTE, or TOEFL|
|Tuition Fees||Between INR 14.07 Lakh and INR 23.12 Lakh (based on top 3 universities)|
|Jobs||Real Estate Development Manager, Supply Chain Management Director, Chief Executive Officer (CEO), etc.|
|Average Salary||INR 32.23 Lakh|
MBA in International Business Management: Course Overview
We all know that MBA stands for Master of Business Administration. When you specialise in International Business, you prepare yourself to deal with global business models and organisational systems. It is a higher education programme designed to provide you with in-depth knowledge of international trade, global supply chains, and the skills necessary to prosper in a multinational setting.
Most universities provide a two-year degree that focuses on global business difficulties, international markets, global economics, international connections, and trade agreements, as well as the leadership and communication skills required to prosper in the global business environment.
The course is available in two forms: as a specialist degree leading to an MBA in International Business Management or as an elective in a more regular MBA programme.
Why Study MBA in IB?
Some of the reasons why an individual should pursue an MBA in International Business Management are as follows:
- Those with a minimum of 2-5 years of professional experience may pursue an MBA in International Business Management programme. It is suitable for students who want to advance their careers in International Business and those who want to establish themselves as business experts in a global setting.
- People should pursue the MBA International Business programme when they are prepared to play a valuable role for enterprises involved in overseas trade, including physical commodities and services, as well as inbound and outbound flows of foreign direct investment (FDI)
- An MBA International Business course broadens one’s cultural understanding.
- People who want to broaden their horizons and develop their emotional intelligence and cultural understanding should pursue an MBA in International Business. International sales tactics, for example, frequently explore how different portions of the world react to things like tipping, bulk purchases, and so on.
- Those who want to pursue their entrepreneurial dreams should pursue an MBA in International Business because it deals with the operations of global corporations, as well as their strategy, management relationships, and governance.
- Professionals who earn an MBA in International Business Management can expect to earn higher pay. An international marketing manager can expect to earn roughly USD 95k per year, while an international finance manager can expect to earn around USD 97k.
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Types of MBA in International Business Management Courses
There are various types and forms of MBA International Business courses accessible, each tailored to a certain group of students or working professionals. The following are the numerous types of MBA International Business courses:
- Full-Time MBA International Business
- Part-Time MBA International Business
- Executive MBA International Business
- Online MBA International Business
- Distance MBA International Business
Aside from Business Knowledge, Strategic Thinking, and Planning Skills, individuals interested in pursuing an MBA in International Business Management must have the following vital skills:
- Communication Skills
- Leadership Skills
- Emotional Intelligence
- Analytical Skills
- Mathematical Skills
- Critical Thinking Skills
- Networking Skills
- Interpersonal Skills
- Adaptive Thinking
The following are the top Colleges Abroad along with their QS University Rankings 2023 for MBA in International Business Management:
|University||QS World Rankings 2023|
|Harvard Business School||2|
|London Business School||5|
|Stanford Graduate School of Business||1|
|Massachusetts Institute of Technology||6|
|University of Pennsylvania||3|
|University of Cambridge||12|
|The University of Oxford||16|
|HEC Paris School of Management||4|
The MBA in International Business course syllabus is listed below for all four semesters:
|Financial Derivatives and Risk Management|
|International Supply Chain Management|
|International Contract Management|
|Financing of International Trade|
|International Human Resource Management|
|Managing Global Compliance in Exports|
|International Supply Chain Management and Logistics|
|International Advertising and Brand Management|
|Foreign Language for Business|
Must Read: Doing Ph.D after MBA
Part-time or one-year MBA applicants must have more job experience than full-time MBA applicants. These are some examples of common eligibility requirements:
- An undergraduate degree (three to four years) from a recognised university
- A minimum score of 50% or higher is required.
- A strong performance in MBA entrance exams such as the CAT/ MAT/ XAT/ CMAT for Indian B-schools, and the GMAT/ GRE for international applicants.
- IELTS/TOEFL is accepted as proof of English language proficiency. A minimum IELTS score of 6 or a TOEFL iBT score of 100 is required. Several top business schools seek even better grades.
- After completing a bachelor’s degree, you must have at least two years of full-time work experience. As previously stated, depending on the nature of the programme and the country, this need may be increased.
- Evidence of funds
- At least 2-3 LORs are required.
- Your proof of English language ability (IELTS, PTE, TOEFL, or equivalent scores).
- Academic Transcripts
- A copy of your current passport.
- GMAT scores are required for MBA admission; however, certain universities may request GRE results instead.
- Your master’s degree or equivalent certification.
Applying for an MBA in International Business abroad, like all other MBA programmes abroad, follows the same method. Here’s a brief, step-by-step, and simple breakdown of the procedure.
- Choose and shortlist the top international university or college that offers an MBA in International Business certification.
- Before applying, make sure you meet all of the eligibility requirements for the university and course.
- The next step is to collect and certify all of the documents required.
- Fill out an online application form with your academic, personal, and professional details and attach the relevant attested papers on your preferred course page for an MBA in International Business overseas. The next step is to double-check that all of your information is correct before sending your application to the institution or college.
- Please pay the application cost, which is non-refundable (if applicable).
- Await the outcome of your application. Meanwhile, you can prepare for your visa interview or learn the official language of the country where you will study.
Cost of Studying MBA in International Business
The annual cost of studying an MBA in International Business overseas is between INR 12 Lacs and INR 20 Lacs. Individual living costs vary based on the country visited. For example, in the UK, the average annual living expense is around INR 8 Lacs, whereas in the US, it is around 6 Lacs.
Scholarships for MBA in International Business
The MBA in International Business is a hands-on programme that brings together the greatest business schools from the United States and Europe. This programme is intended to assist students to gain a global perspective and advance their professions.
Some of the scholarships available to students include
- HEC Foundation Student Scholarships
- Harvard University-Boustany Foundation MBA Scholarship
- Essec Academic Excellence Scholarship
- Emerging Economy Fellowships at Wharton Business School
- INSEAD Financial fellowship
- Ivey Business School Financial Need Awards
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Jobs and Salaries
Following course completion, a graduate with an MBA in International Business has numerous alternatives. One can start a career as a business professional or deepen their knowledge and expertise by pursuing a PhD or a professional degree. Furthermore, graduates can opt to work overseas or return to their own nation for employment.
|Job Profile||Salary in INR|
|Risk Management Director||52.50 Lakh|
|Corporate Auditing Director||32.15 Lakh|
|Real Estate Development Manager||44.48 Lakh|
|Marketing Sales Director||38.00 Lakh|
|Government Affairs Director||39.03 Lakh|
|Business Development Manager||5.97 Lakh|
|Supply Chain Management Director||30.94 Lakh|
|Business Analytics Manager||24.79 Lakh|
|Information Security Director||25.00 Lakh|
|Chief Executive Officer (CEO)||29.48 Lakh|
MBA in International Business graduates is in high demand in the job market due to the abilities they acquire. They can work in a variety of sectors such as marketing, advertising, and public relations.
Best Employers for MBA in International Business Graduates:
- Bank of America
- Goldman Sachs
Is it the Right Option for You?
Are you curious about global finance, marketing, supply networks, currencies, or international relations? If you answered yes, an MBA in International Business is the option for you.
Graduating with an MBA in International Business speciality from a foreign university is a career-changing move that can significantly boost your chances of worldwide advancement. According to Business Insider, graduates at B-schools such as Booth, Olin, Warwick, Foster, Scheller, Darden, and Wharton have job placement rates of more than 95%. MBA graduates with a few years of experience can pursue upper-level management positions with high salaries.
Ans: MBA in international management are first and foremost traditional master’s degree in business administration. Second, international management MBA offers a cluster of thematically relevant international management courses, typically 3-5 of these courses.
Ans: The field offers the greatest income for managerial responsibilities, as well as the opportunity to work in an international corporate environment. Individuals with an MBA in International Business can work abroad, gain valuable networking experience, and earn a high salary.
Ans: The usual student background is the simplest approach to describe the differences between the two programmes. Most MBA schools need at least three years of work experience, whereas Master of International Business programmes accepts applicants with no prior work experience.
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