The world that we live in has turned into a global marketplace. If businesses do not modify their operations to match the increasing level of globalization and interconnectedness, they may lose out on their competitive advantage.
Formal education, such as Online Degrees in International Business is an important prerequisite for various positions in this sector.
What levels of International Business program and degree are offered?
You can find these programs being offered at various levels including associate, bachelors, and masters. Some institutes also offer diploma and certificate programs in international business. These are suitable for professionals who’re already working in globalized businesses but wish to enhance their knowledge, keep up with the developments in the field or seek new career opportunities.
How long will it take to complete degree in international business?
While an associate or a master’s degree may last for 1 to 2 years, a bachelor’s degree make take up to 3-4 years to complete. The duration of the program will also be determined by the route that you take. You may be able to complete the degree in a shorter period of time if you enroll in an accelerated coursework option. Similarly, the program may take longer to complete if you opt for a self-paced degree.
What courses will you study?
In every university, you’ll find a wide range of courses being offered. Although there may be variations, you’ll typically be required to take some core courses along with a few elective modules. You may add a specialization too. In this way you’ll be able to adjust your program according to your academic and professional aspirations.
Examples of courses that are offered in an international business degree include:
Personal and Organizational Ethics
Principles of Accounting
International Business Law
Strategic Management for Multinational Enterprise
International Supply Chain Management
Benefits of an International Business Degree?
There are many different jobs in international business, each with a different set of responsibilities and activities. Graduates with a degree in international business may seek positions in international or local firms, both in the private sector as well as the public.
With a degree in international business, you’ll usually be able to seek an opportunity in one of the following areas:
Besides these basic functions, some business organizations also conduct research and service activities.
Some career choices that graduates go on to pursue include:
Immigration and Customs Inspectors:
They are responsible for investigating and inspecting people as well as goods and merchandise, travelling or transporting across borders respectively. They have to make sure that immigration and customs laws and regulations are properly enforced and followed.
Market Research Analyst
They carry out research and identify new business opportunities and related international market factors such as economic, social, and political conditions that may impact business operations. Research analysts usually work in collaboration with senior management and group heads.
They are responsible for the development and maintenance of relationships with suppliers, agents, distributors, dealers, partner firms and clients in other countries. Marketing representatives make every effort to expand sales and generate new business for manufacturing and service companies.
: $74,520/ year
International Accounting Specialists
They are responsible for dealing with cross-border transactions as well as accounting issues associated with international trade. In addition to having sufficient technical knowledge in accounting, international accounting specialists need to be well aware of international trade laws, taxation rules, and formal procedures and practices.
: $65,080/year (Accountants)
*All salary-related figures have been sourced from O*Net Online
Some other positions that are held by international business graduates include:
International Trade Documentation specialist
Manager of International Affairs
Business and Risk Analyst
How long does it take to get an international business degree?
An associate degree in international business can take up to two years to complete, with 60-70 credits. A bachelor’s degree in international business takes four years to complete with around 120-130 credits. A master’s degree in international business would take two years to complete and a doctoral degree in this field would take at least five years.
What are the requirements to get an international business degree?
To get an international business degree you will need to complete courses such as organizational leadership, strategic planning, accounting and finance, information technology, global business landscape, international marketing, human resource management and so on. Depending on the degree, you might also be required to submit a thesis at the end of the program.
How much can I make with an international business degree?
An international business degree can lead to a variety of careers – business adviser, business analyst, product manager, purchasing manager, marketing executive, corporate investment banker, human resources officer, management consultant and so on. The amount of money you make with an international business degree would depend on your chosen career path. For instance, Marketing Managers had a mean annual wage of $145,620 as per BLS in 2017.