International Business Administration Jobs: Salary and Career Facts
Find out about the types of jobs you could pursue in international business administration. Read on to learn more about career options along with education and salary information. Schools offering International Business degrees can also be found in these popular choices.
What Is an International Business Administrator?
International business is more than a Japanese or German car maker shipping autos into the United States. Global markets are open to every region of the planet, and international business administrators may work in a variety of areas dealing with the finance, management and sales for an international company. Financial managers prepare the forecasts and business reports used in an organization's financial decision making. They also make sure a company follows all legal requirements related to financial reporting. Management analysts are in charge of gathering and organizing company data to help a business run more smoothly or to solve problems before they get out of hand. Sales managers normally work with a sales force to come up with sales goals and strategies or handle customer complaints about sales or services.
The following chart provides an overview of the education, job outlook and average salary for a few careers in this field.
|Financial Manager||Management Analyst||Sales Manager|
|Degree Required||Bachelor's degree||Bachelor's degree||Bachelor's degree|
|Education Field of Study||Business, finance, investment||International economics, statistics||Marketing, sales|
|Key Responsibilities||Conduct global investments||Gather and interpret financial information and advise clients||Establish and manage sales accounts for products or services|
|Job Growth (2014-2024)||7%*||14%*||5%*|
|Median Salary (2015)||$117,990*||$81,320*||$113,860*|
Source: *U.S. Bureau of Labor Statistics
What Kinds of Careers Are Available in International Business Administration?
The field of international business administration holds many different career opportunities. No matter what area of business you are interested in, there is likely to be a correlating position at the international level. You could become an international marketing specialist, financial manager, market research analyst, commercial banker or sales manager.
Being an international financial manager involves keeping track of banking transactions across different nations and handling global investments. You could also help protect a company from fluctuating currency values. As a financial manager, you have the option of working for number of different employers, including multinational corporations, international non-profits and government agencies.
If you worked as an international sales manager, you would oversee how a service or product is distributed to customers overseas by analyzing statistics and making sales goals. In an international environment, this might include studying the potential for sales in different nations and tailoring plans according to different culturally specific guidelines. Sales managers are also responsible for training and hiring sales professionals.
Where Can I Find a Position?
Several different companies offer positions in international business administration. These include multinational corporations, domestic companies that export products or have operations in other countries, and management analysis firms that provide consulting services to other businesses. If you are interested in marketing or sales, it would be a good idea to look for a career at a multinational or domestic firm. If your specialty is consulting or financial management, you can find a job in almost any type of company or agency with international interests.
What Sort of Salary Can I Earn?
While your salary will obviously vary based on the company you are working for and the country you decide to reside in, the U.S. Bureau of Labor Statistics (BLS) offers some general salary statistics for jobs in business administration (www.bls.gov). According to the BLS, the median salary for financial managers was $117,990 in 2015. The median salary for sales managers as of 2015 was $113,860, while the median earnings for management analysts were $81,320.
What Are Some Related Alternative Careers?
Many alternative careers related to international business require at least a bachelor's degree. One such option is a job as a cost estimator. These professionals work for a company to estimate the materials and labor costs associated with providing a certain product or service. Accountants and auditors are another career option. These pros are in charge of the financial records for a company. Yet another field of work is as a loan officer for any number of financial institutions. Their skills are put to use evaluating and authorizing loans for groups or individuals. And finally, market research analysts research and predict certain sales trends in order to help a marketing department develop pricing strategies or advertising campaigns.
To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below: