The MBA, or Master of Business Administration, is usually a general degree that covers topics such as accounting, economics, and management. However, there are several types of specialized MBA degree concentrations that focus on a specific subfield of business. Below, we will discuss the MBA in International Business degree and the MBA in Finance degree, comparing the two concentrations in terms of what kinds of careers they prepare you for and what kinds of coursework they entail.
MBA Specializations: International Business vs. Finance
MBA in International Business
A specialized MBA program in international business will allow you to study the way business theories and management skills function on a global scale. A program that will earn you an MBA in International Business will typically require about 36-49 credits and will take about 1-2 years to complete. During your time in the program, you will take core business-related courses in analytics, marketing, and accounting. To concentrate your MBA degree, you will also take coursework in the realm of global and emerging markets, international finance theory, economics, and international marketing methods.
An MBA of this type will help prepare you for a career as an international sales or trade manager, an import or export manager, or a global business analyst.
MBA in Finance
The specialized MBA in Finance degree is a good choice for those who want a solid foundation in financial theories, banking, and investment. An MBA program in finance can require anywhere from 30-49 credits, depending on the specific school you choose, and the length of your program will also vary, but usually, you should be able to complete your degree within 1-2 years.
An MBA program with a concentration in finance will entail core coursework that could touch on such topics as management skills and theories and organizational behavior and systems. You will then need to take specific coursework that will fulfill the finance element of your degree which could include such subjects as managing financial institutions, the investment process, stock trading, investment and commercial banking, and interest rate theories.
This type of MBA degree can prepare you for a career as an investment banker, a chief financial officer, or a financial analyst.
Common Entrance Requirements for Both Programs
Although different MBA programs offer different concentrations, there will be some common entrance requirements across all programs, including an application, transcripts, a resume, a personal statement, and letters of recommendation. Some programs may require that you also have professional work experience; although, this requirement is not applicable for all programs. As for GRE or GMAT scores, most programs will require that you submit your scores. However, some programs will grant you a waiver if you already have a master's degree, have significant work experience, or if you meet a certain undergraduate GPA.
A specialized MBA degree in either international business or finance will require that you take coursework in your chosen concentration as well as core business coursework. These MBA specializations are similar in terms of credits needed, program length, and entrance requirements: however, they will prepare you for different kinds of business careers.