Do you know what the singular greatest goal of any business is? Growth!
First, you want to raise your brand in your circle, then your city, moving on to your country and finally the goal is to go global. This is exactly how some of the world’s biggest companies have made it to their place. Take McDonald’s for instance, or even the famous Kentucky fried chicken, they started as little local fast-food restaurants, and now people compete all over the world to own their franchises. Other than restaurants, we have fortune 500 companies that started in Silicon Valley, and some even in garages, but now they have clients from individual people to entire governments. If you really think about it, most of these global MNCs boast multi-billion-dollar revenues. And who’s behind managing all this money and global connections? You guessed it, international business majors!
With today’s world fast approaching globalization, there really is no company that belongs to a single country, raw materials come from one place, production and manufacturing happen elsewhere, and distribution is a whole other ballgame. An IB major can open you up to all aspects of running a business, right from acquiring capital to branching out globally.
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Now how do you become one? And who is it ideal for? The most common route is to pursue an MBA in international business abroad or your own country. We stress studying abroad because it has an added advantage of getting placements in that location, if this isn’t for you, top schools in the country offer amazing global business programs too. Also, there is no doubt that for an MBA in international business, the scope is super high. And if you’re wondering what they teach, read on!
MBA is a holistic management degree, meaning that although you might have a particular focus of study, the core of management is taught to everyone. The curriculum of an international business MBA or IMBA have a lot of case studies, and most often include a short overseas trip, project, or internship that allows you to work with global brands for added experience. In the first few months of an IB degree, you will study fundamentals with extra attention to managing international businesses. Moving on to the later parts, you can choose a focus of study like finance, marketing, foreign exchange, operations, logistics, supply chain management and more. Working in one country is complicated enough, and working on an international scale needs some serious skill, so be sure to pick a specialization you are passionate about.
Now, where can you pursue one? Here we’ve picked out the top 10 MBA in international business programs according to the QS world rankings, take a look.
- INSEAD Singapore, Singapore
- Harvard Business School, USA
- Wharton School of Business, USA
- London Business School, UK
- IE Business School, Spain
- ASU – Thunderbird School of Global Management, USA
- Stanford Graduate School of Business, USA
- Marshall School of Business, USA
- Judge Business School, UK
- Booth School of Business, Chicago USA
Apart from these, there are tons of schools that offer reputed international MBAs with many more added incentives, to know about them be sure to reach out to us!
Have you taken the GMAT before?
Worry not, this is one of the most successful and in-demand business fields. The world is focused on connectivity and trade, especially now since countries are attempting to bounce back from the economic chaos that the coronavirus has caused. So, now more than ever the demand for international business experts has risen, and high demand means countless career opportunities.
Initially, you will work in an area that compliments your major focus of study. But the good news is that the all-round business education an MBA offers makes it possible to change your domain later on as well. In fact, most of your projects will require you to work in close connection with other departments and countries, so there’s truly unlimited learning potential, and a lot of travel too. Some of the most common careers chosen are in international marketing, finance, global supply chain management, consulting, imports/exports and international logistics. Moreover, by pursuing an MBA in international business, your starting salary unlocks a new level. The average is around the $115,000 mark, a six-figure salary indeed.
The jobs after an MBA in international business are many, especially if you pursue it from a reputed institute. While Harvard, Stanford are known brands, there are so many more quality institutes that deliver knowledge on par with these top institutes, and tons of these B-Schools have an amazing alumni network. So, if you’re interested in finding out more such colleges, and upping your chances of getting into them, reach out to our admissions experts today!
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