What is International Business?
International business is concerned with the multinational needs of an organization. The field combines general business principles, such as management, marketing, trade, finance, and law, with global concerns, such as international trends and worldwide economics. Those interested in entering the field of international economics will likely study topics such as global politics, international marketing, foreign language, and multinational corporations.
International Business Degree Jobs
If you're hoping to find employment in international business, you're in luck. There is a wide variety of international business career options to choose from, many of which pay high wages. You may choose to work with a domestic company that does business overseas, or with a multinational corporation that does business in multiple countries. Most employers will require candidates to have at least a bachelor's degree in international business or business-related topic, but in this increasingly competitive market, candidates with a graduate-level degree are preferred. Some popular careers within the field of international business are listed below.
International economists help companies make decisions that will impact their business strategy or global development by staying up-to-date on global economic and political trends. They will often perform risk assessment, as well as analyze tariffs, taxes, and new legislation to determine how the corporation should shift priorities.
Global business manager
Global business managers are in charge of operations within multinational businesses. They work to ensure that the company and its employees, both domestic and international, are functioning efficiently to meet the company's needs, international regulations, and global audience demands. They may also hire new employees, delegate job duties, and implement new policies for the company.
Foreign business consultant
Foreign business consultants work to help businesses better understand and navigate the increasingly complex global marketplace. They are often multilingual, helping businesses make contacts and establish themselves in a foreign country. Foreign business consultants need to remain knowledgeable about international regulations and dispense advice that guides companies entering foreign markets.
International marketing manager
International marketing managers design and execute promotional plans for products in international markets. They may also be in charge of distribution and sales in the target markets. Additionally, international marketing managers must be aware of past and present global trends to ensure effective marketing strategy.
Management analysts are responsible for observing an organization's operations and making suggestions that will improve the organization's operation and efficiency. They might also look at an organization's finance and operations data and develop new processes to help the company remain competitive.
Foreign trade analyst
Foreign trade analysts are responsible for tracking goods and services between international marketplaces. They look at trade data between various companies and determine the impact of exchange rates and foreign regulation on the company's bottom line. As a result, foreign trade analysts need strong mathematical skills and computer expertise to help them effectively manage monetary data.
Entry-Level International Business Jobs
Entry-level jobs in international business are similar to entry-level careers within the general field of business. You may need to work in an entry-level position for a year or two or earn a graduate degree or certification, in order to begin working in the international business position of your dreams. You may also need to learn the basics of the domestic business before working with international partners or branches. If you're hoping to escape the drudgery of entry-level work, you should consider degree specializations while studying business or international business. For those who do not mind beginning in an entry-level business position, consider the careers listed below.
Customer Service Representatives
Customer service representatives respond to a company's audience, answering questions, listening to complaints, and handling concerns of the customer. They may help handle customer accounts and customer transactions, depending on the company that they work for.
Human Resources Assistant
Human resources assistants compile and maintain employee records, including their contact information, compensation, reports from managers, and benefits information. They may also help human resources directors or managers in the event of employee grievances and employee terminations, or in the hiring and training of new employees.
Market Research Analyst
Market research analysts gather and examine data to determine how well a product or service will go over with consumers. These analysts will often evaluate data related to customers, competitors, the general marketplace, in addition to looking at marketing and sales trends. They help a company determine how best to position their goods to appeal to their audience.
International Business Salary
Salaries for international business careers can vary substantially, depending on job title and work experience. However, many of the jobs within the field are well paid and have positive outlooks over the next few years. In addition, gaining upper-level degrees, such as a master's in business administration (MBA), master's in international management (MIM), or master's in international business (MIB), can also increase your salary substantially.
Below is some salary data for select jobs in international business.
|Job Title||Salary (per year)*||Job Outlook*|
|Human Resources Assistant||$40,700||+7%|
|Customer Service Representative||$32,890||+5%|
|Market Research Analyst||$63,230||+23%|
|Global Business Manager||$94,020 (for administrative services managers)||+10%|
|International Economist||$102,490 (for all economists)||+6%|
*Salary and Outlook Data from the U.S. Bureau of Labor Statistics