MBA in International Business: Brief Summary
||MBA in International Business
||Post Graduate degree
||Graduate of any stream with minimum 45% qualifying marks.
|KEY SKILLS REQUIRED
||Excellent communication skills, business aptitude, interest in changing financial trends and economies of other countries
||Rs 5 – 15 lakhs
|AVERAGE STARTING SALARY
||Rs 5 – 12 lakhs
||Graduation, Entrance Test, GD & PI
|TOP RECRUITING COMPANIES
||Citi Bank, Bank of America, Goldman Sachs, ICICI Bank, JP Morgan Chase & Co
Why MBA in International Business (IB)?
Candidates with an MBA in International Business are equipped to handle cross-border information exchanges and transactions of goods and services between 2 or more countries. Candidates with this specialization have marketing skills at a global scale and generally, work in negotiating the selling and buying of products and services from one country to another.
MBA in International Business is a postgraduate programme which aims to impart the students with the knowledge, skill sets and training required for working in area International Business. It can be of two categories- Firstly, working in a foreign country for an MNC or secondly working in Export-Import domain.
Candidates can opt for full time as well as part-time courses. The choice for Distance MBA in International Business is also available. The average course fee is around Rs 7 lakhs, though, popular institutes charge Rs 12 Lakhs and upwards.
The top colleges offering MBA in Specialization-
Personnel of this specialization is expected not only to be good at every aspect of business i.e. Marketing, Finance, HR, Operations, IT etc but know and have experience in other aspects too like Business Laws, language and culture in other countries.
Students get placed in various industrial, finance and IT sector companies since they are efficient in negotiating the exchange of information, business strategy and trade within companies all over the world. They can also work for shipping and export companies, tourism sector and international logistics and courier companies.
There is a lot of travelling associated with the work. Since the candidates primarily negotiate product and service exchange they are required to travel abroad to broker the exchange.
MBA in International Business Job Roles and Career Opportunities
Job roles offered too MBA in International Business graduates-
- Export managers and executives
- International business consultant
- International business development manager
- International marketing manager
- International finance manager
- Global business manager
- Account manager
- Brand manager
- Management consultant
- Project managers
Export managers and executives
Candidates must have excellent management, organizing, customer behavior skills. They must have in-depth knowledge regarding export laws and regulations of various countries.
They generally serve as the intermediate person negotiating between foreign buyers and domestic sellers. They must plan and coordinate shipment of products and deal with various people from sellers to the agents.
Candidates get placed in international logistics and courier companies and have a salary range starting at 3.8 lakhs.
International Business Consultant
Candidates must have in-depth knowledge regarding the changing financial trends and economic policies of different countries. They must have good public speaking skills and fluency in foreign languages.
Candidates generally provide guidance to companies in order to navigate the tricky business negotiations that take place across countries within the international marketplace. They charge a fee to companies for their assistance. They help in negotiating overseas contracts and also work alongside governments to dictate international trade.
The average salary for an International Business Consultant is around 6 – 12 lakhs.
International Marketing Manager
Candidates are required to have excellent decision-making skills and proficiency in multiple languages. They generally work in various industries and are responsible for maximizing the international market share and profits for their respective companies. Their area of expertise in product development, market research and communicating with international partners.
The average salary for International Marketing Manager is around 8 – 12 lakhs.
International Finance Manager
Candidates must have a very good understanding of financial trends around the world and impressive administrative and leadership qualities. They have to monitor all major financial operations and review expense budgets for the other departments. They advise executives on general financial trends, issues and opportunities.
The average salary for International Finance Manager is around 6 – 8 lakhs.
Candidates must have creativity, excellent communication skills, and analytical skills. They are responsible for creating a lasting influence among consumers and improve market share profits for their companies. They have to monitor market trends and oversee advertising and marketing activities.
The average salary for Brand Manager is around 9 lakhs.
MBA in International Business: Salary
As mentioned earlier, the job responsibilities in the field of international business are highly specialized and the industry faces a shortage of resource persons. As a result, salaries of professionals working in this area tend to be better than regular MBA.
A postgraduate in international business from a reputed institution in India can get the entry-level salary offered in the range from 5 lakh to 12 lakh per annum and generally the designation offered is a management trainee. With a few years of experience and development of skills, promotion in this sector tends to be faster than other MBA specializations.
|AVERAGE SALARY OF A FRESHER
||4 -8 lakhs
|AVERAGE SALARY OF CANDIDATE WITH 2 YEARS EXPERIENCE
||4.80 – 12 lakhs
The salary trends vary according to job profile, company and work experience.
|Business development manager
||Rs. 7.4 LPA
||Rs. 8.48 LPA
||Rs. 7.62 LPA
|Senior Business development manager
||Rs. 9.1 LPA
|Operations Team Leader
||Rs. 5.2 LPA
|Associate Project Manager
||Rs. 7.1 LPA
There is a very high demand for candidates with international business management skills in most work sectors. With the continuous increase in globalization and need for efficient transactions and exchange candidates with knowledge of international business and economies get coveted placements that come with high salaries.
Top recruiters for MBA in IB students
Students having an MBA degree in IB get placed in various sectors. As a result of globalization, all kinds of business are keen in attaining a global scale and require an efficient transaction and exchange skills. Hence, candidates get recruited by top IT companies, banking firms, exporting companies, logistics sector etc.
- McKinsey and Company
- Citi Bank
- Johnson & Johnson
- Morgan Stanley
- Boston Consulting Group
- Bank of America
MBA in International Business: Syllabus
The 2 years programme is divided into the first year having core management subjects and the second year have specialization subjects such as –
- International supply chain management
- International marketing
- Financial derivatives and risk management
- Financing of international trade
- International contract management
- Managing global compliance in exports
- International human resource in management
- Foreign language for business
- Export & Import Management
- International Logistics
- International Finance
- Governments and Political Relations between nations
- Foreign Exchange
- International Marketing
- Business Laws
- Business Strategies by MNC’s
Specializations offered for MBA in IB
- International communications- candidates with this specialization can opt for jobs such as translator, interpreter, public relations, journalism etc.
- International human capital development – candidates can opt for jobs such as HR consultant, human resource manager, training and development manager, chief HR officer etc.
- International risk analysis – candidates can opt for jobs like – risk and opportunity analyst, security analyst, tax law consultant etc.
- Outsourcing – candidates can opt for jobs like- operations analyst, customer service representative, outsourcing manager etc.
Popular colleges offering MBA in International Business
|Indian Institute of Foreign Trade (IIFT)
|Through IIFT Entrance Test
||Bachelor’s degree from recognized University.
||Rs. 19.23 LPA
||Rs. 7.60 LPA
Symbiosis Institute of International Business, Pune
|SNAP entrance examination
||Bachelor’s degree with minimum 50% qualifying marks
||Rs. 8.8 LPA
||Rs. 12 LPA
|ICFAI Business School
|CAT/GMAT/NMAT and ICFAI-SAT
||Bachelor’s degree with minimum 55% qualifying marks.
||Rs. 6.57 lakhs
||Rs. 7.2 LPA
Amity Business School, Noida
||Bachelor’s Degree with minimum 50 % qualifying marks
||Rs. 5.5 LPA
||Rs. 17 LPA
|CMS Business School
||Bachelor’s Degree with 50 % minimum qualifying marks.
||Rs. 5.4 LPA
||Rs. 8.7 LPA
Requirements for MBA in International Business
Candidates with a Bachelor’s degree in any stream from a recognized university in India can opt for this programme. There is no age limit to apply. Candidates only need minimum 45% marks in qualifying Bachelor’s degree.
Like any other MBA course, admission in MBA in IB is done through National Level Management Entrance Tests like CAT, XAT, MAT, CMAT, SNAP, GMAT, IIFT etc. On basis of score obtained, you apply to different b schools offering MBA in International Business, a short listing on the basis of minimum acceptable cut off is declared and shortlisted students are asked to attend the Group Discussion process for final selection.
Candidates can apply directly after graduation. Working personnel with years of experience can also apply to increase their chances of securing better jobs.
Why should you choose to do an MBA in International Business?
In the past decade due to numerous government sanctions and liberalizations of market policies, there has been a tremendous change in international trade practices, import-export of products and services etc. There is the possibility of a huge potential market open for international trade. This has subsequently led to a recent trend for most business to establish themselves in the International Market.
Most businesses are striving to achieve global recognition and are willing to provide a very good salary to individuals to represent the company and navigate them through their aim of expanding on an international scale.
Individuals who have opted for an MBA in International Business have numerous lucrative career opportunities with a solid increase in scope and pay scale which in the era of globalization will continue to increase. International trade and business and the individuals well versed in the international market practices have tremendous scope in terms of employment and entrepreneurial opportunities in India.
Furthermore, individuals will have the choice to travel all over the world and to settle wherever they choose to oversee trade negotiations and transactions. The options available to candidates with this degree are varied.
Individuals get placed in high-end MNC’s, Banks, shipping companies, state trading corporations merchandisers, international logistics companies, courier companies, tourism sector, airlines, international chain of restaurants, non- profit organizations etc. Hence, an MBA degree in IB has a huge scope and provides almost unlimited highly lucrative career opportunities for the candidates.