3 Jobs to Explore with a Master’s in International Business
- 4th January 2021
- Education and careers
A growing world economy propelled by globalization has pushed many organizations to expand their operations overseas. Business expansion in foreign countries can bring new complexities - you have to be mindful of the difference in cultures, ethical sensitivities, business styles, and even trading regulations.
Therefore, it’s imperative for anyone interested in international business job opportunities to have expertise in foreign business regulations and intercultural issues in different parts of the world. The same is true for other associated fields worldwide such as IT or financial management.
Pursuing an advanced course such as an MA or an MBA in International Business can ready you for international business careers. By helping you learn more about the intricacies of business management across the world, the degree can help you develop a broad mindset and provide you with good exposure.
Read this blog to learn about three different careers in international business that can allow you to travel the world, meet influential expats, and make your contribution in shaping the global business field.
Career scope of international business degrees
There are many bachelor’s and postgraduate degrees that involve in-depth study of international businesses. A postgraduate degree in this subject can unlock many high-paying positions compared to a bachelor’s degree. Here are some interesting job opportunities after an MBA in International Business which you may want to explore.
Risk Management Director
Risk management directors are a staple in most business organisations. They are hired to analyse different types of risks associated with a business organisation and create mitigation plans to overcome them.
For instance, a risk management director might ask their team to research the different types of potential hazards which could happen within office premises. Once the list is made, the director offers business alternatives and suggestions which can prevent the occurrence of these hazards in the future.
According to the International Business Degree Guide, the median annual salary for risk management directors globally is around $131,000.
Financial fraud and crime is an unavoidable aspect of the business world. According to a report by PricewaterhouseCoopers (PwC), 49% of international businesses have reported themselves as victims of financial fraud, costing up to and more than $50 million in the past few years.
Corporate auditors are important in this context. They painstakingly comb through thousands of financial statements and reports to report discrepancies and errors which could be signs of major financial fraud.
There are many other advanced roles in this area such as auditing directors and financial auditors who have similar work descriptions. A corporate auditing director can earn an annual salary of around $141,000 as per the International Business Degree Guide.
Government Oversight Director
Complexities in trade regulations drastically increase along with overseas business expansion. Different countries have their own sets of economic and business laws which can result in heavy penalties if you are ignorant about them.
Government oversight directors can guide companies through complex foreign trade regulations to ensure organisations are compliant with the rules to avoid punishment. The job requires an expansive knowledge of the local business and financial laws, tax regulations, acquiescent policies, new legislation and cultural norms.
According to the International Business Degree Guide, the median annual salary for government oversight directors globally is around $108,000. However, this amount depends heavily on average corporate salaries in the relevant country.
There are also benefits to joining other fields with an MBA in International Business. Most international business degrees offer a sufficient background in managerial practices and other transferable skills like leadership and analytical thinking. This expertise can allow you to explore career options outside of the business field.
While selecting an appropriate international business degree, you should ensure that the programme has a diverse curriculum and an excellent faculty. The Singapore campus of the London School of Business and Finance (LBSF SG) offers two postgraduate programmes in international business — MBA in International Business and MA in International Business. Both programmes have been designed by the University of Greenwich and are taught by an experienced faculty. The curriculums are customised with a mixture of tutorials, workshops, case studies and practical research. Click here to learn more about the MBA in International Business at LSBF SG. Click here to learn about the MA in International Business.