International Business Majors: Career and Salary Facts

Source: *U.S. Bureau of Labor Statistics

What Is the Curriculum for an International Business Major?

International business is a broad topic encompassing practical business skills, international politics, and world cultures. Your studies as an international business major will cover topics such as international trade agreements, treaties, political economy, multinational organizations, global marketing, foreign language, and geography.

You will also take classes in functional business skills, such as finance, economics, accounting, marketing, and management. Some schools require you to select one of these skills as a second major to ensure that you understand business functions, as well as their international applications.

Many international business programs offer you the opportunity to study at a foreign university or complete an internship with an international corporation or non-profit organization. Study abroad programs are typically available to college juniors and seniors and can last one semester to a year. International internships are also a possibility.

Where Can I Work?

With an international business degree, you could work in the U.S. or abroad for international organizations, the U.S. government, multinational corporations, or U.S.-based businesses that have interests in other countries. Note that many international business majors start their careers in domestic companies or organizations to gain experience in basic business skills. Businesses that hire international business majors include:

• Banks
• Manufacturers
• Airlines
• Retail chains
• Manufacturers
• Accounting firms

What Will My Job Duties Be?

Global expansion of business has increased the need for employees that understand how to expand into international markets and operate business in a culture other than their own. With your bachelor's degree in international business, you may become a management analyst studying the efficiency of a business or organization and suggest ways to improve international outreach and profitability.

Sales of goods and services across national borders might be your job, if you become an international account representative. For this job, you will build business relationships with individuals, corporations, and government agencies in different countries. If you choose a career as a global marketing specialist, you may travel around the world researching and developing strategies to sell your company's products or services.

What Will I Be Paid?

Your salary will vary depending on the career path you take. Payscale.com reported that the starting average salary in 2020 for an international business major was $89,000.

The average annual wage for a management analyst in May 2020 was $97,580, according to the U.S. Bureau of Labor Statistics (www.bls.gov). The average annual salary of a marketing manager was $154,470, while all sales reps averaged $99,680 per year.

What Are Some Related Careers?

Budget analysts for international companies, similar to management analysts, observe the business practices of companies and recommend changes. These changes, however, are meant to affect spending and budgeting by the company, practices that are all the more important for these large companies. Advertising and promotion managers design different types of marketing strategies (advertisement and promotions, respectively) for international companies in order to entice potential customers. International sales engineers are similar to sales representatives, though the products they sell are typically high-tech and scientific in nature. They market these products and services to different business around the world. A bachelor's degree is required for all of these alternative careers.