In the world of business, one of the most valued and respected degrees is the MBA, or master of business administration. There are several types of International Master of Business Administration degrees; just one of which is the international master of business administration, or IMBA.
If you’re interested in pursuing this degree, make sure you take a step back and consider the career options available after graduation.
Take a look at what careers are typical for graduates, what kind of salary you can expect, what it takes to succeed in the field, what work environments are standard in the industry and what the job outlook for the industry looks like for the future.
Exploring Careers With an International Master of Business Administration Degree
After completing an undergraduate degree and then earning an international master of business administration, graduates will be able to pursue a wide range of different careers. Many graduates will take on consulting jobs, allowing them to travel the globe to advise companies on how to break into international markets to capture a share of the market in an emerging nation.
Other graduates with an IMBA will take their skills and work closer to home, helping a domestic company to succeed on a global scale. Some of these positions might include titles like cost estimator, management analyst, industrial production manager, distribution manager or administrative services manager.
The objective of the degree is often to secure a managerial position. This often involves overseeing other staff, monitoring an entire department or taking a leadership role in logistics, transport or distribution. Lots of paperwork is a given, and frequent meetings with liaisons across departments are par for the course.
Typical Salaries for IMBA Graduates
While there are several great reasons to pursue a master’s degree in international business administration, there is no denying that financial security is often at the top of a student’s list. This particular degree can pave the way toward a lucrative career in business.
An average management analyst with a bachelor’s degree, for example, earns over $80,000 per year. Add a master’s, and the expected salary will rise. The typical salary for a transportation or distribution manager in the United States is an impressive $85,000 each year.
For those who take on international roles, the pay can be even higher. Many international corporations, for example, pay a salary to expatriate employees as well as cover their living expenses such as apartment rentals and transportation.
What is Takes to Succeed in International Business Administration
Earning the degree is just one of the many elements that it takes to be successful in the field of international business administration. Work experience in the business world is invaluable, and it can showcase your ability to put theories into practice and understand the job of an entry-level employee.
You should also be highly detail-oriented, as the job often requires someone to stay organized even with mountains of paperwork or data.
Finally, you should be willing to work hard and potentially deal with long shifts or extensive travel, as this is often a key component of international business administration and management.
Speaking a second language like Mandarin or French could also be a great skill to have in this field.
Job Outlook for an International Business Administration Career
Just a few decades ago, many businesses operated only within a single country, and truly international corporations existed in far smaller numbers than they do today.
Now, however, many businesses in all industries want to operate on a global scale. In order to do so, they need to hire experts with credentials like the international master of business administration.
This means that the demand for professionals in the field is predicted to grow. Management analysts, for instance, can expect to see an increase in hiring demand of 14 percent over the next decade.
Average Work Environments in the Field
The typical work environment for a professional in international business administration is an office, but the setting could be anywhere around the world. Traditional office hours might be the start, but long hours or late-night international phone calls should be expected.
Professionals often work for private corporations, but some may work for government agencies such as the State Department.
Preparing for an international business career by pursuing your master’s degree can help you gain opportunities to grow your career as you desire.