Is an International Business Degree Right for You?
As the world becomes increasingly globalized, the emphasis on international business continues to grow. International business majors study other cultures, politics, foreign languages and law, as well as the logistics of international trade and investing. They become familiar with foreign markets and cultures to better understand how they function together.
Students can tailor their degrees to specific careers, such as concentrating on disciplines such as economics, accounting, finance, management, and marketing. They can also focus on the specific regions in which they would like to work and learn the language. As the global economy grows and regions and countries become more closely tied together through trade, the number of careers in international business will continue to rise. If you have an interest in the global marketplace and an affinity for learning other cultures and languages, a degree in international business could be for you.
Advice for Earning Your International Business Degree Online
International business bachelor’s degrees are widely available online. As a result, you should have plenty to choose from, but you may also have to weed through the options to find quality programs. To simplify the process, narrow your choices to schools that are regionally or nationally accredited and business programs that are accredited by the Association to Advance Collegiate Schools of Business (AACSB). Also, if you have a specific career goal in mind, you may want to choose a program that offers concentrations within the international business curriculum, such as finance, accounting, or management.
Online International Business degree programs typically include a general business curriculum that is paired with more specific classes that focus on international business concepts. Possible required courses might include:
- International Economics
- Business Policies
- Managing in a Global Economy
- International Trade and Investment Law
Common Career Paths
Some potential careers for those with a bachelor’s degree in International Business include:
Foreign Market Analysts
- Expected Growth: 41%
- Average Annual Salary: $72,395
Foreign market analysts work with measure and predict whether a product or service will succeed in a foreign market. They then advise companies as to how to produce, price, distribute, and market the product or service in a way that will maximize sales and minimize costs associated with rolling out and maintaining the product lines. Furthermore, foreign market analysts can help companies decide whether a certain product or service should be discontinued or modified within a foreign market. Figures above were provided by theBLS.
- Expected Growth: 23 %
- Average Annual Salary: $74,350
Financial analysts advise companies about investment decisions by evaluating how an organization’s portfolio and making investment recommendations. Financial analysts are employed by hedge funds and insurance companies. Financial analysts also identify promising business trends and provide valuations of a company by estimating future earnings. A degree in international business is particularly useful if you want to work in international finance or for a company that deals heavily in international markets. Figures above were provided by theBLS.
Wholesale and Manufacturing Sales Representatives
- Expected Growth: 16%
- Average Annual Salary: $90,580
Wholesale and manufacturing sales representatives sell goods and services on behalf of manufacturers to companies, businesses, and government organizations. Because they sell to businesses instead of individuals, the job can entail frequent traveling. A degree in international business is extremely beneficial to wholesale and manufacturing representative working in foreign markets. Figures above were provided by theBLS.
- Expected Growth: 27%
- Average Annual Salary: $74,940
Financial examiners are responsible for monitoring banks and other financial institutions to ensure they operate lawfully and maintain good financial standing. They evaluate risk and loan ratios and make sure loans are issued with manageable terms. A bachelor’s degree in international business is helpful for financial examiners at high levels, as it allows them to properly evaluate large banks operating on a global scale. Figures above were provided by theBLS.
Securities, Commodities, and Financial Services Sales Agents
- Expected Growth: 15%
- Average Annual Salary: $98,865
Securities and financial services agents provide a range of services to individuals, from selling commodities like corn and oil to investing counsel. They complete transactions and monitor the performance of commodities markets and securities. An international business degree is especially useful in this field when dealing with foreign markets, currency, and more. The above salary and employment growth figures were gathered from theBLS, and represent average incomes.