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Guide to Master's Degree

How to Get a Master's Degree in International Business

Globalization trends of the past decade have erased the distinction between business and international business--today, all business is likely to have an international component. Businesses source materials, outsource workers, build partnerships, and sell their products abroad. International business experts negotiate the challenges of cross-border commerce, including language and cultural differences, regional business policies, and financial planning.

A master's degree in international business offers comprehensive business training from the vantage point of global business, as well as courses in language, culture, regional politics, and local economies. Programs typically culminate in an international internship, designed to help students "live and breathe the business culture of another country," as one leading program describes it. Designed for working professionals, most programs allow students to earn a master's degree online.

WorldWideLearn.com's guide to master's degrees in international business helps you make the most of your graduate education. Use this step-by-step introduction to build a foundation for your success in the Master of Business Administration (MBA) or Master of Science (MS) program.

Guide to Master's Degrees in International Business

International business reaches beyond business fundamentals, taking into account politics, economics, geography, and cross-cultural communication. As an IB student, you develop an understanding of how political and cultural forces impact business ventures abroad. To learn more about the field, visit the International Business page in WorldWideLearn.com's Guide to Majors

Professional and Academic Master's Degrees

Graduate international business programs come in two varieties: the MBA and the MS. The MBA generally offers a more applied business education, while the MS features a more conceptual introduction to the discipline.

Master of Business Administration

The MBA is the most common graduate qualification in international business. The degree provides a comprehensive curriculum in business fundamentals, with courses in accounting, marketing, and finance. IB programs focus on these core subjects in a global context, graduating managers capable of handling the challenges of business abroad. The IMBA is geared for working adults, making it easy to earn a master's degree online without putting your career on hold.

Master of Science in International Business

The Master of Science in international business is structured as an academic social science degree rather than a professional qualification. Designed for students just starting out in the workforce or transitioning into international business, the program focuses on the conceptual basis for a successful IB career including language and cultural literacy, global management principles, and quantitative methods.

Learn more about your master's degree options at WorldWideLearn.com's Online MBA Programs, Master's Degrees, and The Master's Degree Explained.

Specializations

Whether you earn a master's degree online or complete a traditional campus IMBA, you have an opportunity to deepen your education in a specialized area. MBA program specializations typically include elective coursework, while the MS culminates in an independent research project in a specific topic.

Examples of international business specializations include:

In addition to these functional specializations, many schools feature regional electives that allow you to focus on a specific region: emerging markets, Latin America, Asia, for example.

Career Track

An international business graduate degree qualifies you for a range of business careers:

While both master's degrees can lead to any of these careers, MBAs may have a slight advantage in the management sector, which requires broad business knowledge. MS graduates, on the other hand, bring the advantage of specialized knowledge to consultant and specialist roles. The academic MS can also serve as a stepping stone to the PhD and an academic career.

Plan for a Master's Degree in International Business

A sense of your ambitions and interests can help you plan your master's degree in international business.

Step One: Find the Right Graduate International Business Program

Graduate international business programs have experienced a surge in interest in the wake of globalization. There are currently hundreds of programs to choose from. The following steps can help you focus your options and find the right program.

1. List Accredited MBA or MS Programs

Start by accessing accredited MBA or MS programs in international business. Accreditation is the key baseline criterion of any program search. This quality assessment by an independent accrediting agency ensures the quality of your education, the value of your degree, and your eligibility for financial aid. The U.S. Department of Education Web site posts a searchable database of approved accreditation agencies.

Resources

WorldWideLearn.com offers a starting point for your research, with links to online business degrees and online MBA degrees. All WorldWideLearn.com educational partners are accredited.

The Association to Advance Collegiate Schools of Business (AACSB International) is the leading accreditation agency for business schools. Search the online database of graduate management programs by degree level, field of study, location, and campus or online format.

The Sloan Consortium, which represents online institutions nationwide, publishes a list of online master's degrees in international management and business.

"2. Choose Program Format: Campus or Online Master's Degree?

International business degrees feature a variety of program formats to accommodate a diverse student body. Working professionals, who make up a high proportion of MBA students, can choose among flexible scheduling options such as:

The ability to earn a master's degree online has made graduate education possible for mid-career managers looking to sharpen their international business skills. An estimated 75 percent of all MBA students and 61 percent of full-time MBA students work more than 35 hours a week while completing the master's degree. For students with less impacted schedules, full-time campus programs offer unparalleled access to campus facilities, research groups, and professors.

Resources

WorldWideLearn.com's Online Degree Programs and Campus Education sections help you find programs with your chosen delivery format. Search Degrees by Location for campus graduate programs in your area.

3. Explore Academic Programs

The most important stage of your academic research takes you into the details of individual programs. Each master's degree program offers a different landscape of resources, program emphases, and activities. The challenge is to identify the programs most closely aligned with your ambitions.

Investigate these features:

Resources

WorldWideLearn.com kicks off your academic program research by putting you in touch with schools that match your criteria. Fill out an online form indicating your preferences, and school representatives contact you to answer your questions about the program.

School websites publish detailed information about degree requirements, course descriptions, industry-sponsored programs, and campus facilities. You can also find links to faculty bios and publications.

Informational interviews with faculty, alumni, and current graduate students help you develop a sense of the academic experience and the value of the degree on the job market. If possible, visit the school's campus to explore school facilities and local resources.

4. Evaluate Program Quality

Finally, narrow down your list by evaluating program quality and selectivity. BEcause the highest-quality schools are also the most selective, you may have to moderate your expectations according to your competitiveness as an applicant. Admissions committees evaluate candidates based on GPA, test scores, and other factors.

Take into account the following quality features:

Resources

Admissions Departments supply useful information about selectivity (average admitted students' GPA and test scores), job placement (starting salaries, signing bonuses, and employer information), and student demographics (work experience, percentage of international students). Ask a school representative or admissions counselor for these information sheets.

Rankings give you a general sense of the program's reputation. Influential publications include:

Step Two: Apply to Graduate International Business Programs

Once you have a list of five to ten master's programs that meet your needs, you're ready to start the application process.

1. Complete Prerequisites

Eligibility for graduate study generally requires:

WorldWideLearn.com's Education Resources Guide helps you meet these requirements by connecting you with test preparation resources, prerequisite courses, and online learning tools.

2. Prepare Application Materials

Most schools provide a link to the application online. In addition to filling out the information form, you need to supply the following materials:

Because some of these documents rely on outside sources, it's important to start your application well in advance of the deadline.

WorldWideLearn.com's Education Resources Guide helps you meet these requirements by connecting you with test preparation resources, prerequisite courses, and online learning tools.

3. Finance Your Master's Degree in International Business

The majority of graduate students rely on some form of financial aid to offset the cost of their education. Sources of school funding include the university, the federal and state governments, your employer, and private foundations. Investigate your options by:

Online master's degrees help you avoid some of the cost of going back to school--you can earn a master's degree online and continue working while you work toward your degree.

Step Three: Build a Global Network

The value of a business education has as much to do with the people you meet as the knowledge you gain. Start building your professional network now by:

Relationships are the basis for many international business opportunities. Start building your network now, and create connections you can rely on throughout your career.

Conclusion

Your successful completion of a master's degree in international business starts well before the first day of class. Build a strong foundation for your studies by focusing your career goals and finding the program that fits your ambitions. That alignment between your career trajectory and your graduate degree positions you to take full advantage of your resources and emerge as an international business leader.

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