Everything you need to know about studying a master’s in International Business

Everything You Need To Know About Studying For A Master’s In International Business

Thinking of taking your career global? 

A Master’s in International Business could be the perfect next step.

Graduates with a Master’s in International Business have incredible positions and salaries compared to other management roles.

For example, financial managers with a master’s degree in international business can earn approximately $110,000 annually, compared to $78,000 with a bachelor’s degree. 

Students with an international business degree can opt for a career in international trade, global marketing, and supply chain management with an average starting salary between $85,000 and $120,000. 

The career prospects for graduates with IIB degrees are excellent, and anybody from a tech or non-technical background can opt for this degree, depending on the region and industry.

In this guide, we will walk you through all the essential information you need to make an informed decision, from understanding the core curriculum of the international business degree to exploring career opportunities and top universities that offer this program. Keep reading to find out. 

Masters in International Business: An overview

A Master’s program in International Business (MIB) is a targeted postgraduate study to train students to work effectively in the perils of international trade. It combines the foundation of business skills with cross-cultural management orientation, international trade, and global strategy.

Students with a Master’s degree in International Business can find themselves earning exorbitant salaries. Further, a survey by the Graduate Management Admission Council (GMAC) found that 84% of employers see a strong advantage in having post-graduate degrees in global business for occupations demanding cross-cultural expertise and strategic thinking.

Graduates also report that 95% of jobs obtained after earning this degree are directly related to their field of study.

Core subjects in an MIB program:

• International Marketing and Branding
• Global Supply Chain Management
• Cross-Cultural Management
• International Trade and Investment
• Global Corporate Strategy
• Ethics and Corporate Social Responsibility
• Emerging Markets and Risk Management

Among the various job roles that are in high demand after a Master’s degree in International business are:

• International Trade and Export Management
• Global Business Development
• Multinational Marketing and Sales
• Supply Chain and Logistics
• Diplomatic and Governmental Organizations

Popular universities offering MIB course

Applying for a Master’s program in International Business (MIB) at a top university can be a valuable step toward career opportunities around the world. 

According to Princeton Review, these are some of the best international Business Schools internationally known for their MIB programs:

Top colleges for MBA in International Business 

An MBA in International Business (MBA IB) is a two-year intensive program that can enable you to acquire skills for international marketing, export, international finance management, and global logistics positions.

It can also prepare you with a global approach to thinking as well as the expertise needed to function as a manager in a demanding global marketplace. 

Here are some of the top globally renowned colleges from various countries that offer MBA in International Business:

United States

The popularity of Master of International Business (MIB) programs in the United States has gained serious momentum in recent years. 

The growing popularity is reflecting the increasing demand for global business expertise. Some of the top universities offering this course are the Darla Moore School of Business and the University of South Carolina. 

Both these universities are renowned for offering MBAs in international business, offering two tracks. 

• Global Track: Features a global curriculum with international immersion in English-speaking countries.
• Language Track: Includes language studies (Spanish, French, or German) and a term in a country where the chosen language is primary.

Another university offering this course is Columbia Business School, which offers a Business Track within its MBA program, covering topics like Emerging Financial Markets and International Social Impact Strategies.

Similarly, NYU Stern School of Business also provides a Global Business specialization, focusing on international business dynamics.

Europe:

• ESSEC Business School (France and Singapore): Provides a 12-month online Global MBA with a delivery network across campuses in France and Singapore so as to expose students to international business in the two economic powerhouses of the 21st century.
• MIP Politecnico di Milano (Italy): Contains an International MBA, with study abroad, at institutions such as Nyenrode Business School (the Netherlands), Beihang University School of Economics and Management (China), and Indian Institute of Management Lucknow.

Asia:

• HKU-FDU International MBA Program (Hong Kong and China): A collaboration between Hong Kong University and Fudan University, focusing on international business with an emphasis on Asian markets.
• Nanyang Business School (Singapore): Provides an International Trading MBA specialization and is ranked fourth in Asia by QS Global MBA rankings 2021, which focuses on developing the next generation of global traders.

Online Options:

To consumers of flexibility, various organizations provide online MBAs with International Business concentration:

• University of Nebraska-Lincoln: Offers an online MBA that is ranked as the second best in the world according to the Financial Times in 2022.
• California Lutheran University: Provides an online version of an MBA with a concentration on international business so students can access global business knowledge remotely.

These are designed to fit a range of needs, from onsite opportunities in international business centers to online flexibility, and provide end-to-end training in international business practices.

With so many great institutions worldwide, it’s hard to know which one fits your goals, budget, and future career plans. Many students rely on rankings or peer advice, which often misses critical factors like ROI, alumni network strength, and program alignment with their aspirations.

How GradRight Makes Your Choice Easier

GradRight’s university-search platform helps you avoid guesswork. Using 8 million data points, it shortlists universities based on what matters most to you:

• Placement records and alumni network
• Program quality and career alignment
• Cost of education, including scholarships and financial aid opportunities

This ensures that your university decision is not just based on reputation but on real, data-backed insights tailored to your needs.

How It Works in 5 Simple Steps

1. Sign Up: Create your free account to access the platform.
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3. Personalized Matches: Receive a list of universities that are the best fit for you.
4. Explore Insights: Dive deep into details like ROI, placement statistics, and alumni connections.
5. Finalize Your Choice: With GradRight, your decision is calculated, not guesswork.

GradRight simplifies a complex decision, ensuring you start your journey at a university that truly meets your needs.

MIB and MBA in International Business eligibility criteria

Before studying for advanced degree programs in international business, it is important to know the eligibility criteria for the Master of International Business (MIB) and Master of Business Administration in International Business (MBA IB). 

Although individual requirements will differ with an institution, the following general criteria will apply:

Master of International Business (MIB):

• Educational Qualifications: Applicants are required to have a BA (any subject) from an accredited university, generally with an overall grade minimum of 50%.
• Entrance Examinations: The admission process will, for the most part, depend upon standardized test scores, such as CAT, MAT, XAT, or GMAT.
• Language Proficiency: For English-based programs, non-native speakers are required to meet proficiency (e.g., TOEFL or IELTS) if scoring requirements are to be met.

MBA in International Business (MBA IB):

• Educational qualifications: Applicants should hold a Bachelor’s degree from any study program acquired at a respected university with a minimum 50% aggregate mark.
• Entrance Examinations: Admission is mostly determined by test scores, such as CAT, MAT, XAT, or GMAT.
• Work experience: Although not mandatory, there are some instances where applying to an institution might be seen as a knowledgeable advantage for candidates due to their prior experience in the field, thus helping give them relevant business knowledge.
• Language proficiency: Just like in MIB programs, the ability to be fluent in English might be set (TOEFL or IELTS scores are evidence for non-native speakers).

It is advisable for prospective students to refer to the particular criteria for admission to the institutions they intend to apply to, as conditions can be different. 

Besides, the plan to take an entrance examination and, if necessary, a language proficiency test is also essential for fulfilling the requirements of the eligibility standards.

Admission process: Master in International Business requirements and MBA in International Business degree

The admission process for Master in International Business (MIB) and Master in Bachelor in International Business (MBA IB) consists of some important steps. Although particular needs may differ according to the institution, the following describes the general process and typical prerequisites:

1. Educational Qualifications:

Applicants must possess a Bachelor’s degree from any field of study from an accredited university, an aggregate of at least 50%.

2. Academic Performance:

An undergraduate degree is required with a minimum GPA of 3.0 on a 4.0 scale. However, this can vary by program. 

3. Standardized Tests:

Most programs require GMAT or GRE test scores. Some schools may let you off the hook for their standardized testing based on professional experience or academic performance in college.

4. Language Proficiency:

Applicants whose first language is not English will need to submit proof of competence in English by way of TOEFL, IELTS, or similar internationally recognized tests.

5. Professional Experience:

Although not always required, a professional track record can enhance an application, particularly for MBA IB programs. Certain programs may have a minimum number of years of study in a related area.

6. Application Materials:

• Resume/Curriculum Vitae: A detailed account of academic and professional history.
• Letters of Recommendation: Usually based on academic/professional references, who offer testimony on the applicant’s competence and inbreed potential.
• Statement of Purpose/Essays: Resumés detailing career ambitions, motivations for enrolling in the program, and the relationship between the applicant and the program’s goals.

7. Interviews:

Personal Interview: In the case of certain programs, an in-person or virtual interview may be necessary to evaluate the candidate’s suitability for the program.

8. Application Deadlines:

Adherence to application deadlines is crucial. In some institutions, there are several rounds of admission, and applying early may be desirable.

Future learners are advised to check the individual admissions criteria of their institution, as regulations can differ. Moreover, at the beginning of the program, the entrance examination and (in accordance with) language proficiency examination preparation is also an important step toward fulfilling the application eligibility requirements.

FAQs

1. How useful is a Master’s in International Business?

A Master’s in International Business is a postgraduate degree focused on the complexities of conducting business across international borders. The curriculum explores global business and practice, international market dynamics, and the political, economic, and cultural conditions shaping global trade. It is to prepare professionals who can make strategic decisions in a global environment, having a profound knowledge of international law of trade, global marketing, and cross-cultural communication.

2. What will I learn in MSc International Business?

A Master of Science in International Business provides a curriculum that aims to develop the competencies necessary for the international business environment. Some of the key learning areas typically include:

• Global Business Strategies:
• Cross-Cultural Management
• International Trade and Economics
• International Marketing
• Global Supply Chain Management

These elements together prepare students to address the challenges and opportunities that are part of doing business internationally.

3. What is a Master’s in International Business?

A Master’s in International Business is a postgraduate degree focused on the complexities of conducting business across international borders. The curriculum explores global business and practice, international market dynamics, and the political, economic, and cultural conditions shaping global trade. 

4. Why choose an MSc in International Business?

The curriculum equips you for positions within multinationals, international trade organizations, and global consulting companies. The program equips you to navigate and adapt to the rapidly changing global business environment.

It has the benefit of improving critical thinking, strategic planning, and cross-cultural communication, which are indicative of the ability to succeed in international business.