An MBA degree is considered one of the best educational qualifications for aspiring professionals who want to earn competitive salaries. With globalization impacting economies and workplaces, the demand for skilled managers who can handle international business operations is rising globally.
Businesses want managers who understand the complex world of international markets, international and domestic laws, foreign exchange, international logistical issues, customs regulations, marketing to foreign demographics, etc. Thus an MBA in international management teaches students how to establish businesses and compete in today’s highly competitive business world and prepares them for careers as overseas managers, general managers, sales managers, and much more.
This article will explore the top professional avenues for students after an MBA in International Management, the best colleges, how much they can earn, and much more.
What is an MBA in International Management?
MBA in International Management, also known as MBA in International Business, is a little different from ‘traditional’ MBAs; here, the focus is on providing the students with knowledge and skills of all the essential areas and domains relevant to international business operations. It teaches the students a professional approach and sensitivity to the global business environments.
Students can pursue a full-time course, whereas working professionals can take up an Executive MBA or take the course in distance or online mode.
As part of the course work, students learn- marketing management, brand management, project management, human resource management, financial accounting, supply chain logistics, economics, strategic thinking, data analytics, managerial finance, etc.
As part of the specialization, students can learn- financial derivatives, risk management, international trade financing, international supply chain management, international human resource management, international contract management, international advertising, foreign language for business, etc.
Most MBA colleges offering MBA in International Management are centered in states and cities. You can find good MBA colleges in Maharashtra, Delhi, etc. The best MBA colleges in Mumbai, Delhi, Kolkata, etc., are IIFT, UBS, BVDU, IMS BHU, etc.
The top recruiters for MBA in International management are mainly large MNCs, consulting firms, banking firms, business conglomerates, etc., for domains like marketing, general management, strategy, finance, operations, trade, IT & analytics, etc. Some of the top recruiters are- McKinsey & Company, Boston Consulting Group, Bain & Company, Merrill Lynch & Co, Deloitte Consulting, PricewaterhouseCoopers, JP Morgan Chase & Co, Goldman Sachs, Citi, HSBC, GE, Accenture, Credit Suisse, Deutsche Bank, Morgan Stanley, etc.
Top professional avenues-
- Project Manager
As an international project manager, you will serve as a team leader, and you will play a leading role in developing, establishing, and managing the organisation’s global projects. The primary job duties will be planning international projects, delegating tasks to their employees, resource allocation, managing deadlines, coordinating with people, managing the organisation’s global clientele, and ensuring that things are on the right track.
You may also be required to conduct cost estimation and risk analysis of international projects. As an international project manager, you will also serve as a bridge for communication between top executives, local project managers, and team members.
- Product Manager
International product managers are responsible for developing, managing, and implementing product marketing activities on a global scale. Your primary duties will usually circle around creating and executing marketing campaigns, identifying customer needs, developing product concepts, managing marketing staff, etc. You will also be involved in finding and negotiating business opportunities around the globe.
In short, as a product manager, you have to be an excellent communicator, collaborator, leader, and negotiator, to maximise the organisation’s marketing efforts and increase revenue.
- Accounting Manager
As an international accounting manager, you will be responsible for analysing and reporting organisations’ finances, ensuring regulatory and legal compliance, balance sheet netting, managing companies’ accountant teams, eliminating entries between affiliates, monitoring day-to-day accounting operations, and managing organisations’ debt, etc.
- Sales Manager
As an international sales manager, you will utilise your sales, leadership, and strategy skills to develop, implement, optimise and manage the company’s global sales activities. Moreover, you will also be responsible for hiring and developing high-performing sales teams, coordinating with the marketing team, generating leads, preparing periodic sales reports, preparing revenue forecasts, and striking deals with international clients. As a global sales manager, you will also travel frequently to different parts of the world to meet with clients, study sales trends, look for opportunities, etc. To be successful in this job, you need to have exemplary communication, leadership, strategy, and analysis skills.
- Business Development Manager
An international business development manager is responsible for a business’s expansion into global markets. Your primary responsibility will be to discover new opportunities for the company by researching market trends, developing partnerships with key international partners, and taking care of administrative tasks. You may also have to double up as an expert salesperson to pitch the products to potential clients and negotiate deals. To become a successful international business development manager, you need to have strong interpersonal skills, creativity to develop innovative business plans, critical thinking to research market trends, and international business experience to understand foreign markets and business norms.
- Supply chain Manager
As an international supply chain manager, you will coordinate, organize, and oversee all activities involved in identifying, acquiring, producing, and distributing the company’s goods. You will also hire and train departmental supervisors, manage the daily workflow and schedules, conduct performance evaluations, collaborate with different departments and stakeholders to identify and maintain resources needed to keep the supply chain, maintain inventories of materials and supplies, establish performance metrics for evaluation of factors affecting the supply chain, monitor performance of suppliers, negotiate deals, etc.
To be successful at this job, you need excellent communication skills, interpersonal and negotiation skills, leadership skills, organizational skills, attention to detail, analytical skills, and problem-solving skills.
As more and more businesses are going multinational, the demand for students who have expertise in international business operations, international business law, marketing and supply chain management, etc., is set to rise. So an MBA in International Management is the right choice for students who want to build up a promising career in MNCs and want to work on opportunities abroad.