The world has become one now with the impact of Globalization. Countries are now connected to each other through financial, economic, and business transactions between them. Every new market is emerging. India is the world’s 5th largest economy with a GDP of 2.94 trillion USD. In such a scenario, if students are planning for a management course, choosing an MBA in International Business can be a viable option. But students are often confused as to which specialization to choose, whether to study Marketing or choose an MBA in International Business. This blog will be focussed on an MBA in International Business to eradicate any confusion about the course in your minds.
What is an MBA in international business?
Well, MBA in International Business is a 2-years postgraduate programme which enables the students with the required knowledge and skills in the domain of International Business. MBA in International Business is structured and designed to develop professionals to manage relevant resources and activities in the global economy. The first initiative of this course was taken in the USA in 1946 at the American Institute of Foreign Trade, currently known as Thunderbird School of Global Management. From there on the course has become quite popular in the field of management study.
MBA in international business course details:
This course aims to prepare students to become seasoned professionals with the ability to manage all activities related to International Trade like imports or exports. On the other hand, an MBA in Marketing is involved in initiating sales by studying consumer behaviour and market trends and applying marketing strategies. Marketing mainly aims at Brand Awareness and initiating Sales. So, one must not get confused between the MBA in International Business and an MBA in Marketing. Both courses offer tremendous career opportunities in different fields. Marketing is just a part of a study in an MBA in International Business as the entire MBA program is interrelated. An in-depth details about MBA in International Business will give students a clear idea about the course, so let’s check out!
|Course Name||MBA in International Business|
|Course Level||Post Graduate Course|
|Duration||2 Years in Duration|
|Eligibility||Graduation in any discipline, some college will ask for 50% – 60% marks in Bachelors|
|Admission Process||Entrance Test + GD + PI|
|Course Fee||10 – 15 Lakhs INR|
|Course Elements||Export and Import Management, International Marketing, Foreign Exchange Management, International Finance etc.|
|Average Salary Offered||5 – 12 LPA INR PA|
|Top Hiring Companies||McKinsey & Company, Citi Bank, Bank of America, Deutsche Bank, Goldman Sachs etc.|
MBA in international business – What is the eligibility?
After getting an in-depth idea about the course, let’s throw some light on the eligibility requirements to study MBA in International Business. Candidates will be able to study this course if the following criteria are met.
1. Aspirants must be a graduate at least with 3 years of education post 10+2.
2. Candidates who want to appear for entrance tests must be able to provide valid proofs supporting their credentials. Only then they will be able to apply.
3. With regards to age criteria, there is no bar on Age Limit.
MBA in International Business Entrance Exams
|Exams||Colleges Accepting these scores||Eligibility||Registration Dates|
|CAT||20 IIMs accept CAT along with, FMS Delhi, IITs and various top colleges like SPJIMR, MDI and etc.||50% in Graduation is needed for General category students and 45% for Reserved categories. Final year students can also apply||August 5, 2020|
|CMAT||B-Schools that are approved by AICTE||Candidates with 50% marks in Graduation can apply. Final year students are eligible to apply. Reserved category candidates will need 45% marks||1st November 2020 to 30th November 2020|
|IIFT||IIFT Delhi and Kolkata Campus||The minimum aggregate required in graduation is 50%||September 9, 2020|
|SNAP||Symbiosis University and its institutes||Graduation with 50% is needed, final year students can also apply||August, 2020|
|GMAT||IIMs, XLRI, IMT, and SPJIMR accept GMAT||A Graduate degree from a reputed university is mandatory. There is no age limit in this exam||Throughout the Year|
The eligibility criteria for MBA Marketing is similar; candidates will have to take up entrance tests and must be a graduate to sit for various exams. After completion of the exams, one can apply to top colleges based on the scores. The final list will be released based on academics, entrance scores, GD/PI performance.
Top MBA in international business colleges in India along with average annual fees:
1. CMS Business School (Bangalore) – 3,88,000 INR
2. ICFAI Business School (Hyderabad) – 6,25,000 INR
3. Indian Institute of Foreign Trade (Delhi) – 8,01,000 INR
4. RAI University (Ahmedabad) – 1,40,000 INR
5. Guru Kashi University (Bathinda) – 1,80,000 INR
Best MBA in marketing colleges in India with average annual fees:
- Christ University (Bangalore) – 3,80,000 INR
2. CMS Business School (Bangalore) – 4,75,000 INR
3. Amity University (Lucknow) – 10,00,000 INR
Career scope – MBA in international business Vs MBA in marketing:
Getting placed post completion of the course is the aim of all students. All the candidates aim to secure for themselves high salary packages after completing the course. Both MBA in International Business and an MBA in Marketing offers decent pay packages to students in their respective field. The average salary for MBA International students is 5 – 12 Lakhs INR PA. The MBA Marketing aspirants will not be far behind. They can earn between 3 – 10 Lakhs INR PA. At IIFT, the packages can even reach 20 Lakhs INR PA or more. Whereas, studying Marketing at IIMs can help students earn nearly 25 Lakhs INR, PA. So, the packages are also dependent on the quality of education, college and of course, the skill of a student. Some of the functional areas post completion of MBA in International Business are –
1. Export and Import Management
2. Brand Management
3. International Marketing
4. Logistics and Supply-Chain Management
5. Compliance Management
6. Foreign Exchange Management
MBA in Marketing is centred on Marketing activities like Business Development, Branding, Promotion, Sales, etc.
Job roles after MBA in international business Vs MBA marketing:
|International Business Consultant||Media Planner|
|International Marketing Manager||Market Research Analyst|
|International Finance Manager||Brand Manager|
|Senior Business Analyst||Sales Manager|
|Global Business Manager||Marketing Manager|
MBA in International Business is thus a course with various opportunities. MBA Marketing, on the other hand, too offers excellent packages and plenty of opportunities. But an MBA in International Business is different from an MBA in Marketing. If you are interested in international business, then MBA Marketing is not a solution. So, students must clear what they want to pursue, if they are looking for a Marketing career, then MBA Marketing is the way out. We hope the blog has thrown enough light on MBA in International Business, which will help you to plan better instead of getting confused with MBA Marketing.