Careers in International Business
Today’s world is becoming more and more connected as the push for globalization intensifies. Businesses see expanding operations to multiple countries as great opportunities rather than big risks.
A career in international business lets you make full use of the current business paradigm. If you are looking to carve your place in international business by pursuing a career, here are a few things you should consider.
Why start a career in international business?
Opportunities are limitless
The nature of the industry means that there is plenty of opportunities. Globalization has made this quite evident in recent times. Many companies are now adopting an international outlook and looking for professionals who meet the demand. Having a career in International Business gives you front-row seats to these opportunities.
Highly challenging and rewarding
The sphere of international business is a highly competitive and challenging one. This may not be for everyone but is perfect for individuals who love a good challenge. Work can be fast-paced and high level but to people who love a good challenge, this is the place to be.
Work with a diverse crowd
The world of International Business is one of diversity and collaboration. This means you get a chance to work with some of the best and brightest talents the world has to offer. This is a great way to bust your chops in human relations and cross-border collaborations. If you want to work with people from different and diverse backgrounds, a career in International Business is the way to go.
Chance to work anywhere in the world
Not only are you working with a diverse crowd, but you also get to work in diverse locations. A career in International Business allows you to work in many parts of the world. This gives you valuable experience that many companies would value. In today’s highly globalized world, someone who can work regardless of location is an asset.
Versatile working opportunity
Careers in IB are also fluid. While you certainly can focus on one career path and see it through to the top, you are not limited to it. A lot of employers value individuals with a diverse set of skills. You get this through experience in various aspects of Business. It is not surprising to see professionals with diverse work backgrounds.
This flexibility also makes it future-proof. In today’s uncertain world, only the industries that have broad and transferable skills will prevail. With globalization becoming more and more a reality, careers like those in International Business are here to stay.
Entry-level international business jobs
These jobs are perfect for fresh university graduates seeking a foothold in the industry. It is also great if you come from a non-business background.
An auditor’s main role is to check the company’s financial records to ensure they are in order and compliant. They perform some consultation for said company to address issues and point out irregularities. They also help in decision-making through financial risk assessments. Large conglomerates, especially international ones, all have in-house Auditing teams.
In today’s world, information is the name of the game. That is why companies are investing in data analysis. Data Analysts are the point people when it comes to information. They gather and collate specific data using various tools and make recommendations based on their findings. They help in decision-making by providing vital information on a given subject.
Financial Planners are responsible for making financial analyses. They analyze the financial status and make reports regarding this. They also prepare budgets and spending schedules for their clients. They also do consultation work for managing assets, cutting expenditures, and maximizing income streams. They thrive both in a freelance setting and within a corporate structure.
These professionals work hand-in-hand with other professionals in the finance departments. Accountants help companies keep track of their finances by collating, balancing, and checking records. They help the company make sound financial decisions by giving recommendations through presentations and reports. These reports are done regularly throughout the year. They deal with expenditure records, bank transactions, and expenses among others.
Marketing is an integral part of the business. Marketing Assistants help in ongoing marketing campaigns. They do market research, campaign ideation, customer feedback surveys, and many more. These professionals focus on attracting and growing a community around a product or company. They are expected to do many marketing-related tasks like running social media accounts and producing marketing materials.
These professionals handle any and all communications done by a company. They handle things like PR, press conferences, speeches, and other media appearances. They also specialize in communicating with other entities may it be individuals or other organizations. They also perform advertising-related tasks like press releases. They handle anything that’s related to a company’s image and branding.
Senior careers with an international business degree
These are experienced to senior level roles for those looking to advance their careers. These are perfect for experienced professionals in the IB industry or from outside looking to start a new career path.
Human Resources Manager
These professionals are responsible for coordinating and planning a company or organization’s administrative tasks. They oversee recruitment, hiring, training, and the welfare of the employees. They also handle grievances and mediation between employees in the organization. They are the bridge between the workers and the management. HR Managers handle any communications between the two.
Advertising managers coordinate and oversee the whole advertising operations of an organization. They lead advertising teams through various ad campaigns and take a major role in strategizing. They supervise team members and evaluate their performances too. These evaluations are done to improve performance in the current and future campaigns. Advertising managers also evaluate every project upon completion.
Supply chains are the lifeblood of most businesses. Logistics Managers are tasked to keep this as smooth sailing as possible. They are tasked to improve efficiency, reduce cost, as well as maintain contingencies. The track, organize and collate data related to this. They also lead the logistics team in performing these tasks.
Executives coordinate various departments in an organization. While individual managers handle their own respective teams, executives coordinate these teams. They ensure that all business processes are done efficiently and that collaboration between departments runs seamlessly. They are responsible for strategizing bigger projects that involve the whole organization. If a project requires the cooperation of several branches of organizations, these professionals are taking the lead.
International Financial Manager
Financial managers wear many hats depending on the size of the organization. For bigger corporations, they can be highly specialized professionals focusing on one aspect of finance. On smaller ones, they could be handling all of the financial needs. They manage credit accounts, make detailed profit projections, and handle teams under them.
Market Research Analyst
Knowing your customers is paramount in any business. That is why companies invest heavily in market research. Market research analysts conduct studies to help understand their potential clients. They look for trends and patterns that will help a company understand their clients more and develop products based on this. The research also helps make effective marketing and branding strategies.
Highest paid international business careers
International economists study global trends in products and services. They take into consideration the current social climate and availability of resources. They analyze global data, including a country’s GDP, stability, and political climate. They then use these data to make detailed recommendations and actionable insights. Their annual average income is $89,277.
Policy analysts focus on providing and recommending policies to address certain issues. They use an evidence-based approach to assess current regulations and figure out if regulations need updating. Their job is to promote the welfare and reduce risks without compromising a company’s earning potential. They also help protect employees by proposing fair policies. They earn an average of $95,781 a year.
Admin managers are professionals responsible for supervising admin officers while doing other admin tasks. They usually manage scheduling, handling payrolls, creating reports, and other clerical tasks. They coordinate with various departments regarding admin duties and often work with several branches of an organization. They earn a median salary of $139,478 on average annually.
Also known as Business Advisers, Business Consultants lend their expertise to companies by giving sound business advice. They provide various services like reviewing finances, identifying inefficiencies, and improving productivity among others. They provide tailor-made solutions to an organization’s specific problems. Consultants sometimes work with multiple organizations depending on the setup. They earn an average of $105,657 a year.
MBA international business careers
Global Project Manager
International projects pose challenges unique to them. It is up to the Global Project Manager to address these challenges head-on. They specialize in managing teams from all around the world. Handling team members from different time zones and cultural backgrounds, they are expected to meet the project’s goals through careful planning.
Risks are everywhere from financial risks to personnel. Risk managers determine these risks and find solutions to address and mitigate these. They conduct in-depth risk assessment evaluations through various means. They then make actionable solutions and present these to the management for action. They also evaluate past actions on known risks and recommend improving these solutions.
Business Development Manager
There is one goal in mind for Business Development Managers: growth. They are responsible for looking at new potential markets and ventures for companies. They do in-depth research on a prospect market and figure out its feasibility. They are responsible for reaching out to potential clients and pursuing possible partnerships.
Supply Chain Manager
These specialists handle logistics on a larger scale. They make sure that supply lines run smoothly as possible. They handle all logistics issues including disruptions and diversions. They are in constant collaboration with suppliers and monitor shipping and freight schedules. They are constantly finding ways to reduce costs and make deliveries more efficient.
How to get an international business career
If you fancy having a go at any of the careers mentioned above, you can do a few things to make the transition smoother.
One of the best ways to prepare for a career in International Business is to be updated with current events. Being up to date with the latest industry news opens many opportunities for aspiring professionals in the International Business scene. Reputable business news websites, as well as social media forums, are great places to start.
Network as much as you can
Professional connections are one of the best resources a person can have. If you are planning to break into the International Business scene, make it a priority to connect and get to know other professionals. Social media like LinkedIn is a great place to start. Optimize your profile, join relevant groups, and be consistent in interacting with other professionals.
Earn as much experience as possible
Experience is a big factor in success in the IB scene. Some things are best learned while in the real world. As a newcomer, tackle the advantage of training, mentorships, and other programs that will help you get hands-on experience. Seminars and symposiums are also good opportunities to grow professionally.
Consider continuing studies
Getting relevant training is a great way to prepare for a career in International Business. A good option is to get an MBA. While traditional in-person universities are good options, online universities offer the same quality education but are a tad more convenient. Nexford University’s MBA with Specialization in Doing Business Across the World is specifically designed to prepare students for a career in International Business. It is also fully only which gives students the freedom to study anywhere around the world.