With the spread of the Internet and life in the “digital age,” the world has effectively become smaller in a way that everyone is competing in a global marketplace. Many find that obtaining a job in international business will allow a person to benefit from the affects of the changing global trends combined with advancing technology. The most obvious way to pursue this goal would be to earn an international business degree. Since business has traditionally been one of the most popular fields of study for students looking to earn a healthy salary after graduation, it follows that international business has been rapidly expanding and may allow for even greater opportunity. Most large colleges and universities have international business programs, so finding the program which best suits your educational needs, budget, and professional aspirations is vital to propelling goals.
Once enrolled, a student will have traditional business courses as well as ones that focus on things like international financing and markets, and cross-cultural management. The curriculum in these classes will cover things like how to thrive in a sometimes volatile business setting, often in different countries, as well as acquire knowledge regarding currency exchanges, international laws, and tariffs.
Although an international business degree is helpful, a person does not necessarily have to have one to be employed and successful in international business. Pairing a marketing degree with a fluency in a foreign language could turn a person into a great asset for a firm. Similarly, a solid upper level educational foundation, the mastery of sales, and an extensive record of traveling abroad might be enough to get a person started in the field.
Aside from degrees, there are certain traits that companies will look for when hiring employees to work for them internationally. Many of these are applicable to all jobs, but they become especially important in an international setting. Businesses want people who are, curious, flexible, and resourceful since they may find themselves in unfamiliar situations and need to improvise. Additionally, it is key to have strong communication skills, the ability to negotiate, cultural sensitivity, and an interest in travel.
The jobs that can be included under the umbrella of international business are wide ranging, but unified by the fact that they are fairly to tremendously lucrative. Three examples of these jobs involve positions in international sales, customs compliance, and international banking. International sales representatives work at multinational corporations, and they focus on sales outside of the home country. The salaries for this position are often tied to commission, which makes them hard to gauge, but a rough average puts them around $60,000.
A person working in customs compliance concerns themselves with goods traveling across an international border. Each nation has different laws about not only the taxes on items entering their country but also about what’s allowed in at all. Certain weaponry or vegetation may not be allowed to cross a border even if it is only passing through on its way to a separate final destination. Failure to comply with these regulations may lead to a business being fined and possible harm to existing relationships. The median salary for someone working in customs compliance is $58,000.
Of all the opportunities for a person engaged in international business, international banking may be the most lucrative. The compensation for these jobs is easily six figures, and with experience the pay can creep over a million dollar a year. The value these individuals provide is that they have the expertise that can allow corporations and high worth individuals to do things like structure transactions in a way that greatly reduces their taxes or facilitate international investments.
Whether a person wants to become an international banker or simply translate business documents, international business is a great field to get into. All it takes is the right degree and an attitude built for success.