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Online Masters Degree in International Business
Earning your masters in international business degree online may provide you with the skills and knowledge to help global companies with business operations. Typically, programs are focused on providing students with the many different unique challenges that face international business. These topics may include international trade laws and how to produce, distribute, and market products to different cultures and economies.
Plus, earning your masters in international business degree online may help provide you the knowledge and expertise in using technology that continues to be more common in the workplace. Continue reading to learn more about the different degrees available and the different courses you may take while earning your online masters in international business.
Did You Know?
When having a business meeting with Chinese businesses, it’s important to bring a gift. However, it’s customary for the gift to be refused three times before being accepted. It is important to continue offering the present until it is accepted.
What Is International Business?
International business is the transfer of goods, services, resources, and all other business transactions between two or more businesses or governments that are located in different countries. These business transactions are normally done by multinational enterprises, otherwise known as MNEs, that do business globally. Transactions typically include capital, people, and skills for goods and services such as finance, construction, and more.
Choose the Right Masters in International Business Degree Online
When pursuing your online international business masters degree, programs typically focus on combining theory and applied research to prepare you for a number of different roles in international business operations. This helps prepare students to use technology and conduct business in an increasingly interdependent world.
Choosing to earn your degree online may help prepare you for the prevalent use of technology in the business world. That includes communicating online through email, instant messaging, and video conferencing tools. This type of expertise could be increasingly important as international businesses rely more and more on technology for business operations.
Different Masters in International Business Degree Options
When you pursue your masters in international business degree online, there are typically four different degree options. All of the different international business masters degree programs are academically equivalent and typically takes two years for full-time students to complete.
There are many similarities between these programs, as they are all trying to provide you with a thorough understanding of the unique challenges that face international businesses. The major differences between the different international business programs are the types of roles they may prepare you for upon earning your degree. The different degree types include:
- Master of Business Administration (MBA): Typically, students accepted to an MBA in international business degree program possess a minimum of three years professional experience. MBA students may also need to a working knowledge of finance to be accepted.
- Master of International Business (MIB): A Master of International Business (MIB) degree is typically considered an MBA with a specialty in international business. The main difference though is that typically, MIB students are accepted right after earning a bachelors degree and don’t require professional experience.
- Master of Science (MS): Typically, a master of science in international business degree combines research and professional courses to provide students with a mastery of international business. These degrees may provide courses with a more technical focus, such as statistics and research methods.
- Master of Arts (MA): If you choose to earn a master of arts in international business, you may receive a more well rounded education, which may include courses in liberal arts, such as history or social sciences. These courses may provide students with a better understanding of different cultures.
What Will You Learn While Earning Your Masters in International Business Degree Online?
While pursuing your masters in international business degree online, coursework focuses on providing students a complete understanding of the unique challenges that face international businesses. By choosing to pursue your degree online, you may have the opportunity to use technology while earning your degree so that you may be better prepared to use similar technologies in the workplace.
Another benefit of online learning is that you may use multimedia during your classes, which has been proven to increase knowledge retention. While earning your online international business masters degree, some of the multimedia that may be used are live or videotaped lectures, webinars, and online groups.
Courses You May Take While Earning Your Online International Business Masters Degree
Typically, courses you may take while earning your masters in international business degree online focus on providing you with the strategic problem solving and leadership skills necessary to guide businesses in the global economy. This may be done through simulations and experiential techniques so that students may apply theories. These types of problem solving courses may help provide students with the skills to solve complex, real-world problems.
Topics may include courses similar to those in other masters in business programs, such as economics, finance, and marketing. However, these courses will pay special attention to the unique challenges that face international businesses.
Other classes you may take while pursuing your online international business masters degree may include:
- International Trade and Business: This course teaches students the impact of foreign trade on foreign policy, and how trade policies may affect the distribution of income and economic growth.
- Global Investments and Operations: During this course, lessons focus on the logistics of firms that produce, distribute, and market in multiple nations. Coursework may also include identifying and analyzing different factors that impact the effectiveness of these global companies.
- Multinational Corporate Environment: Students are taught the many economic, social, and political relationships between nations and their impact on the corporations and businesses that operate globally.
- International Negotiations: This courses focuses on teaching students the issues and challenges that may arise while conducting business across different cultures. Topics and lessons may focus on providing students the knowledge and skills for effective negotiations between different cultures.
- International Supply Chain Management: As more and more companies are operating globally, this course teaches students a complete understanding of supply chain management and how to overcome the obstacles of global distribution channels.
Possible Careers in International Business
Upon earning your masters in international business degree online, you may be qualified for a number of different positions. Some of the more common roles are purchasing managers, financial analysts, and financial managers. While all of these roles only require a bachelors degree, a masters degree may be required for advanced roles.i The United States Bureau of Labor Statistics (BLS) expects the United States to continue being an influential international financial center, which may help increase the number of roles as a number of countries around the world show economic growth.ii
Potential International Business Salary
Earning your online international business masters degree may provide you with the skills and knowledge necessary for advanced roles in global companies. As a result, most of these roles typically pay well because of the increased responsibility and education. The median annual salary for some of the most common roles for those who have earned their masters in international business degree are:
- Purchasing Manager: $108,120iii
- Financial Analyst: $80,310iv
- Financial Manager: $117,990v
Take the Next Step!
There are a number of masters in international business degree online programs for you to choose from. Click on any of the sponsored listings to learn more about individual programs. From there, you can learn admission requirements, specific goals of the program, and you can even contact the school directly to request more information! Research as many programs as you need to until you find the perfect online international business masters degree program for you!
[i] bls.gov/ooh/business-and-financial/financial-analysts.htm#tab-4 [ii] bls.gov/ooh/management/financial-managers.htm#tab-6 | [iii] bls.gov/ooh/management/purchasing-managers.htm#tab-5 | [vi] bls.gov/ooh/business-and-financial/financial-analysts.htm#tab-5 | [v] bls.gov/ooh/management/financial-managers.htm#tab-5