Careers in International Business
International business is one of the most thrilling of occupations in the business world today. The opportunities for a person in international business are immense. Moreover, salaries associated with international business tend to be on the higher end when contrasted with other business professions. International business encompasses a variety of fields, including global finance, corporate law, shipping, and multi-national corporations. A wide range of other skills for international business careers are also important. For example, foreign language skills, extensive travel experience, or experience living abroad all contribute to success in international business.
Export mangers are needed for handling of International business .Also known as Foreign Trade Managers,they analyze technical data in business deals and understand international trade agreements and policies. Exposure to different countries, cultures and industries are important factors of the job. Their main work is to negotiate trade deals and speed up transactions. Often it is challenging to successfully affect business transactions with an international audience. They may specialize in commodities, textile, engineering goods, handicrafts, medical and chemical goods etc.
International business and international marketing is taught as part of the MBA curriculum at B-Schools across the country. A number of universities also offer Masters Degree in International Business (MIB). Thus the first aim of a student should be to get admitted into a MBA course. Admission into the MBA course is done on the basis of one’s performance in entrance exams like CAT,MAT,ATMA etc.
Career Prospects in International Business
An MBA in International Business can seek employment in public and private sector organizations. There are wide varieties of job opportunities for these people in banks, financial institutions, securities firms, investment companies, export/import companies and international business consultancy. However most of MBA (International Business) postgraduates are absorbed by international marketing departments of companies engaged in exports like multinational manufacturers such as automobile companies, electronics and computer companies and consumer durables manufacturers. As most of the international trade is done through port and aviation, these professionals can work in airlines, cargo and global shipping companies. Foreign direct investment and economic development agencies also require these professionals. Other career options available to MBA (International Business) postgraduates include setting up consultancy firm.
A fresh postgraduate in International Business Management from a reputed institute is usually recruited as a management trainee and the salary offered ranges between Rs.5 to 12 lakh per annum. However, class B Business school pass-outs may get a lower salary to start with. The remuneration head northward for international placements. Job satisfaction and career growth can be an important factor in International market research firms or consulting organizations.
International Business Institutes in India
Almost all business schools across the country have courses in International business. However specialized courses in International Business are provided across some institutes. Please click here for list of institutes/universities providing courses in international Business (MIB):