Mba In Foreign Trade - Careers, Salary, Jobs, Scope

Why MBA in Foreign Trade?

MBA in Foreign Trade is a postgraduate degree course wherein students understand the complex details of the foreign trade, the policies that pertain to the exchange of goods between countries and how to optimize the profits. The duration of the course is 2 years.

Usually, banks, government agencies, and private companies are the firms involved in business with foreign companies and hence the demand for MBA graduates in Foreign Trade is high in these types of companies.

MBA in Foreign Trade: Brief Summary

Top MBA colleges offering this course include-

• Devi Ahilya Vishvavidyalaya, MP
• SCMS School of Technology and Management, Kerala
• Swami Vivekananda Institute of Information Technology, Punjab
• Indian Institute of Foreign Trade, New Delhi
• KJ Somaiya Institute of Management Studies and Management, Mumbai
• ICFAI Business School, Hyderabad
• Chandigarh University, Punjab
• Loyola School of Business Administration, Chennai

For candidates, who cannot pursue regular college, distance education is the perfect option. Distance MBA in Foreign Trade is offered by Indian Institute of Foreign Trade.

People involved in foreign trade usually have to travel a lot, as they have to ensure the proper transfer of goods between countries or to have negotiations. People employed in this field usually clock unusual hours. They need to be available whenever their client, who might be from a different country, wants to have a discussion.

They might have to work around 45-50 hours a week and will have to work odd hours too if needed.

MBA in Foreign Trade: Job Roles and Career

The opportunities for a candidate with an MBA in Foreign Trade are as follows:

Foreign Trade Zone Analyst

A foreign trade zone analyst will manage the daily operations of the foreign trade zone (FTZ).  They usually coordinate with third-party providers to move products in and out of their respective zones.

Companies that operate in different countries offer these positions. The average salary per annum for a foreign trade analyst ranges from Rs.10 to 15 lakhs.

Foreign Trade Representative

They are responsible for improving the business in a particular foreign trade zone. They have to come up with innovative ideas to promote their services, get more clients and ensure that the client is satisfied with their services.  These representatives are offered packages between Rs.5 to 10 lakhs per annum.

However, their salary is highly dependent on the zone that they manage. If a candidate manages a zone which generates large profits, then he/she get paid more when compared to the manager in a low trade zone.

Global Trade Manager

They manage the global trade of the company. They study the global trend and come up with unique and innovative ways to increase profits. Additionally, they also have to supervise the foreign trade business.

They are not responsible just for one foreign zone; they are responsible for the trade in products for the entire world and hence have to cover all the zones. The average salary of a global trade manager is around Rs.15 to 20 lakhs per annum.

Market Research Executive

They are responsible for coming up with new and innovative ways to tackle the problems faced in the export-import market, get more clients and study the market in detail in order to help the team employ new methods and techniques.

Market research executives on an average make around Rs.8 lakhs per annum.

Export Manager

Export managers play the role of a middleman.  They are responsible for the transfer of goods between countries. Their most important job is to negotiate with shipping agencies, vendors, and many others to make sure that the product reaches the client on time.

Primarily they need to have exceptional communication and negotiation skills with excellent domain knowledge. Their salary ranges from Rs.10-20 lakhs per annum. However, fresher’s are given between Rs.5-8 lakhs per annum.

MBA in Foreign Trade: Salary

Having an MBA will definitely improve a candidate’s worth in the market. There is a constant need for skilled managers in different firms, both in the private and the public sector.

In India, a fresher’s in MBA in Foreign Trade are offered anywhere between 2 to 5 lakhs per annum and this will increase as one gain’s experience. Experienced professionals are paid much higher, around 10 to 15 lakhs per annum.

Usually, multinational companies offer very high packages. However, the salary of a person depends heavily on the performance of that person and also on his / her experience in the field. Right now there is a need for graduates who are innovative and can think out of the box. Equip yourself with the right tools and make sure you are prone to industry competition and challenges. This will guarantee you a spot in a leading company with an amazing package.

Recruiters

Companies from many different branches of the industry recruit candidates with an MBA in Foreign Trade. Government Agencies, banks, financial institutions and manufacturing companies are a few who recruit MA graduates in Foreign Trade. Top recruiters are as follows:

• Wallmart
• Standard Charted Bank
• Citigroup
• Prada
• Goldman Sachs
• Morgan Stanley
• Accenture
• Johnson and Johnson
• Microsoft
• Wells Fargo

All of the above-mentioned recruiters offer high packages, around 10-15 lakhs per annum.  However, the candidate has to work hard to get a place at the above-mentioned firms as they only select the best of the best.

Specializations Offered

Import-Export Management

Here, you will get to learn about the import and export business. They facilitate the transfer of goods through international borders. They study the laws and policies that surround the transfer and the etiquettes related to the communication between the different parties involved.

They have to learn the art of negotiation and communication. Their job basically revolves around interacting with agents, shipping agents and others alike who are involved in the transfer of goods from one place to another.

Region Specific Research and Management

The import-export laws differ from one country to another. Therefore, people involved in foreign trade need to have an excellent knowledge of these laws to have a profitable business.

People who specialize in this area are tasked with coming up with different ways to establish trade between countries adhering to the laws that govern the trade. They have to be extremely accurate and precise with their information as the entire operation depends on the information provided by them.

Syllabus

A few topics covered in MBA in Foreign Trade are as follows:

The above list is a comprehensive list. It just gives you an idea of the concepts that you will get to learn if you decide to take the course.

Popular Colleges offering MBA in Foreign Trade

Below is a list of top colleges offering MBA in Foreign Trade:

Distance MBA in Foreign Trade

Indian Institute of Commerce and Trade

IICT offer Distance MBA in Foreign Trade through the distance mode. The fee for the program is Rs. 27,999. The duration of the course is 2 years, comprising 4 semesters. Candidates have the option to pay the fee in two installments.

Suresh Gyan Vihar University (SGVU-DDE)

SGVU-DDE provide a 2-year Distance MBA in Foreign Trade and Global Business Management. The fee for the program is Rs 74,400 (Rs 62,400 if paid lump sum). Candidates need to have least 50% in graduation.   The course needs to be completed in a maximum duration of 4 years.

Requirements for MBA in Foreign Trade

• The candidate should have a full-time Bachelor’s degree for at least 3 years with an aggregate of at least 50%.
• The candidate should have scored at least 50% in Higher and Senior Secondary school.
• The candidate should attend the Common Admission Test (CAT) or any other test that is specific to the college or university.

The above are the basic requirements. However, once a candidate clears the written test, they are called for Group Discussion and Personal Interview.

Foreign trade usually involves doing business with companies located in other countries and in order to have a fruitful conversation with them, you should have good communication and interpersonal skills.

Why should you choose to do an MBA in Foreign Trade?

Partnership with foreign countries is becoming extremely common and this has resulted in a need for professionals who are proficient in foreign trade and the policies governing the trade.

Additionally, once a candidate finishes their course in foreign trade they have a plethora of jobs waiting in line for them, both in the private sector as well as the public sector. Foreign trade is a vast area and offers numerous opportunities.

MBA in Foreign Trade gives the candidate an edge above other academic qualifications, as the curriculum is created with latest management techniques and problem-solving scenarios. The demand for management professions is not only high in India but in abroad as well. Graduates can not only get chance to work for private MNC’s but also government organizations.

To conclude, the scope of MBA in Foreign Trade is bright and lucrative. It is an uprising field with more demand and fewer professionals to meet it. Additionally, there is travel involved and candidates with a zeal to travel different countries are deemed fit for this course.

Other Popular Specializations

• MBA in Operations
• MBA in Advertising
• MBA in E-Commerce
• MBA in Retail Management
• MBA in Insurance