To succeed as a global business administration professional, one must obtain a bachelor's degree and be comfortable with a variety of cultures and customs. Positions are available in a myriad of fields, as these professionals work to connect their businesses with other companies around the world.
As information technology makes it easier for businesses of all sizes to operate on an international scale, global business administration professionals strive to ensure their business operations work together efficiently. They also take a leadership role in identifying and responding to global trends and events that could affect their business. A bachelor's degree is typically required for a career in global business administration.
|Career Titles||Administrative Services Manager||Securities, Commodities and Financial Services Sales Agent||Chief Executive Officer|
|Required Education||Bachelor's degree in business or international business||Bachelor's degree in a business field; MBA often required for advancement||Bachelor's degree in a business field at minimum; many hold MBAs|
|Other Requirements||Work experience||On-the-job training||Considerable work experience|
|Licensure and Certification||Not required||License is required; certification recommended||Voluntary certification|
|Projected Job Growth (2014-2024)*||8%||10%||6%|
|Median Annual Salary (May 2015)*||$86,110||$71,550||$175,110|
Source: *United States Bureau of Labor Statistics (BLS)
Career and Salary Information
Global business administration professionals may be found working at all levels and in a wide variety of industries. Regardless of their position, these professionals must be comfortable working with different cultures and customs, and fluency in a second language is a major benefit. Individuals who own a company that does business internationally or who may work for a company owned by foreign investors will likely encounter a diverse workforce. Three particular roles within the global business administration field are administrative services manager; securities, commodities and financial services sales agent; and chief executive officer.
Administrative Services Manager
Administrative services managers take on a variety of duties to ensure efficient operation of their business. They may manage various departments, lead a centralized operation or oversee specific functions, such as distribution, facilities maintenance or inventory. These managers may also be responsible for ensuring that the company follows government regulations, including regulations for global business. They typically need some prior work experience before advancing to manager positions. As of May 2015, the BLS reported that administrative services managers earned a median annual salary of $86,110. The BLS predicted a 8% growth in job openings for these managers from 2014-2024.
Securities, Commodities and Financial Services Sales Agent
These sales agents work with large amounts of money and help buyers and sellers connect and make transactions. Types of sales agents include brokers (both those who sell directly to clients and those who work on a trading floor), traders and investment bankers. These jobs often have a global business angle; for example, investment bankers frequently travel to other countries to work with foreign investors.
Brokers, sales agents and investment bankers must pass a series of exams administered by the Financial Industry Regulatory Authority (FINRA) in order to gain licensure; traders may also need to become licensed. Certification, such as the Chartered Financial Anaylst (CFA) designation, is recommended for employment. The BLS reported that the median salary for securities, commodities and financial services sales agents was $71,550 as of 2015; the top-paid 10% of these agents made over $187,200 annually in that year. Jobs in this field are expected to grow by 10% between 2014 and 2024, per the BLS.
Chief Executive Officer
Commonly known as a CEO, a chief executive officer directs a company, provides the highest level of management, sets goals and develops company policy. Large companies often have international offices, and CEOs need to oversee their operations, too, often traveling to visit overseas office sites.
CEOs usually work their way up through lower-level management positions, and numerous years of work experience may be required before they achieve the top rank. Voluntary certification through the Institute of Certified Professional Managers is available for chief executives. According to the BLS, the median annual salary for chief executives was $175,110 as of May 2015. The industry that employed the most chief executives in 2015 was the management of companies and enterprises, which paid executives an average of $220,700 annually in 2015. Job openings for chief executives should increase by 6% from 2014-2024, reports the BLS.
Working in the three employment options listed here, global business administration professionals may expect to earn anywhere from $71,550 to $175,110. Work experience is a large factor for those interested in advancing their careers, and earning an MBA can be advantageous as well.