In this case, it was the turn of international business. The first thing we can tell you is that it is one of the best university courses and one with the best future . Why? The advance of global trade does not stop and, every time, more people are needed to cover the labor demand.
But we are not getting ahead of ourselves, keep reading this guide so that you know what a graduate in international business does , what his profile is like and what are the advantages and disadvantages of studying this career. In addition, we will give you options to study abroad and enhance your CV. Take note! ?
What is the International Business Degree about?
The International Business degree focuses on planning and managing commercial activities and operations —imports and exports— that a company or organization carries out between 2 or more countries. To do this, students:
- They study the best techniques of administration, negotiation and sale of goods or services.
- They analyze trade agreements, laws and conventions that govern international trade.
- They adopt a global approach to favor the internationalization of organizations.
- They develop leadership skills , strategic and prospective vision of the world.
- They know the multicultural and ethnic environments to understand the differences that countries have in the way they do business.
Reasons to Study International Business
Why study International Business and not another career in economic or administrative sciences? It is true that business transactions can also be done by a Business Administrator .
? However, specific knowledge is needed to carry out large transactions between companies from different countries.
If you need more reasons, keep reading! We will explain why studying International Business is a good option for your future.
1. You will have Access to Multiple Job Offers
Thinking about finding a job after college is stressful. But one of the reasons to study International Business is that the chances of getting a job are quite high. ?
The multiple functions carried out by graduates in International Business, which we will see later, mean that there are endless job offers. In addition, the demand continues to increase, so work will not be lacking!
2. You can Travel the World
If we talk about what an International Business graduate does, it should be mentioned that part of his job is to travel from country to country making transactions and soaking up the different business cultures.
? For example, did you know that business etiquette in China states that you should always wait for the person with the most responsibility or experience to enter the meeting room first? Or that while the Japanes are extremely punctual, you may have to wait for your host in Italy for up to a few hours?
In addition, this profession can be practiced anywhere in the world. So why study International Business? To know the diversity of the world! It is true that, many times, you will go alone to work meetings, but you will have time to live traveling adventures on other occasions. ?
3. You will Learn Several Languages
Studying International Business boosts the ability to master the world’s most widely spoken languages . Being a profession dedicated to global commerce, knowing different languages is essential for communication.
In addition to allowing you to interact with almost anyone in the world, this will bring you closer to new cultures! So if you still don’t know why study international business, here’s a great reason.
4. You will have Opportunities to Internationalize your Own Company
If you have the characteristics of an entrepreneur , this career is for you. A great reason to study International Business is that this profession allows you to undertake to be the owner of your company. And not only that, but to launch it on the international market!
This is possible because the degree not only teaches you how to manage a company, but also shows you how international trade works. Cheer up and you might be on the list of successful entrepreneurs soon! ?
5. You will Take Advantage of Great Growth Prospects
? Speaking of why study international business, we already mentioned that this career shows a very promising future. And it is that trade between countries is barely consolidating at the global level.
International business opportunities are increasing every day, so more professionals are needed to meet the demand. Do you see yourself studying this career? ?
What is the Profile of a Business Graduate?
To find out what an International Business graduate does , we have to talk about the skills you need to develop: a combination of soft skills and technical knowledge. Therefore, we will mention the characteristics of the profile of a professional in this career.
Within what a graduate in International Business does is the coordination of the strategic and commercial operations of the company . So you have to learn how to be a good leader to lead your team and meet the goals.
If you are going to study International Business, you need to develop your ability to establish social links with anyone from any country. ?
It is essential to be aware of cultural differences to communicate your ideas assertively, defend your projects and show their benefits with confidence when selling a product or service.
Capacity for Synthesis and Analysis
Part of the International Business career consists of promoting business proposals and commercial agreements in different regions.
Therefore, you must know how to extract information about the economic, financial, commercial or political situation of the countries. In this way, you will be able to analyze the feasibility of expanding a business to a certain country and present this information clearly and concisely to shareholders, partners or clients.
Knowledge of the Legal Environment of the Countries
In relation to the previous point, you should also consider the legal and tax aspects of internationalizing a company in a certain country. It is possible that things work differently from how operations are carried out at the parent company.
In this case, you, as a graduate in International Business, must analyze, contrast risks vs. benefits to make the decision to open trades or cancel the trade.
Persuasion and Negotiation
In the international business career you need a great power of persuasion. It depends on you that customers make the purchase of a service or product!
This skill is what will strengthen your International Business career. You have to know how to reach agreements that benefit both parties and how to negotiate between cultures based on political and economic aspects. ?
What does an International Business graduate do?
As you have seen, the international business career is very versatile and broad. ? When you enter the workforce, you’re likely to perform a number of tasks, including these main roles:
- Know how to make a business plan and execute it.
- Develop internationalization projects in new international markets.
- Take on managerial positions in transnational companies.
- Master different methods of financing global trade.
- Define and make decisions about the company’s marketing strategies.
- Study the market to improve the competitiveness of the company.
- Establish relationships with international commercial entities that promote the growth of the company.
- Make important deals with other companies.
- Design proposals for treaties and trade agreements.
- Market the product or services offered by the company.
- Solve import and export problems.
It’s a demanding job, there’s no denying it. But it has many benefits! Next, we will tell you about some of the advantages of studying international business and other disadvantages , because not everything is rosy. ?
Advantages of being a Graduate in International Business
- Boost competitiveness. This career will expand your options in the commercial market, so you will have more suppliers that will offer you competitive prices.
- Get investments. Using international treaties, you can include people in the project to grow the company.
- Use the knowledge to your advantage. All the experience you gain in international trade will help you take your company to the next level.
- Get great benefits. If you perform your duties optimally, profits for you and for the company will skyrocket. ?
Challenges of being an International Business Graduate
- Having to choose the right markets. All the responsibility for doing good business rests on your shoulders.
- Create strategies in order to mitigate the risks of economic and political instability. If they are not done on time, the consequences for the company can be very negative. ❌
- Certify that suppliers are safe and businesses are legitimate. Legal conflicts are the ones you should avoid the most.
- Carry finances, accounting and taxation correctly.
- Speak several languages. The success of an international business is based on knowing how to communicate well.
How much does an International Business Graduate Earn?
One of the reasons to study international business is the salary. Professionals in this career earn salaries that allow them to lead a comfortable and peaceful life. Nothing else, look at these figures. ?
- In Mexico , those who obtain a degree in International Business earn up to 12,198 pesos per month, 48% more than the average salary in the country.
- In Colombia , the average salary of a graduate in International Business is 2,036,081 pesos
- In the case of Spain , an international business graduate can earn a basic salary of 19,888 euros per year.
- In the United States , the salary for an international business graduate is $1,118.60 per month.
- In Canada , the accounting and finance sector has an average salary of $97,000 annually.
Job Market Opportunities for a Business Graduate
As we have seen, one of the reasons to study international business is the range of job opportunities that the degree offers. You can get a job in different areas depending on your training and these are some examples.
- Customs agencies.
- Chambers of Commerce.
- Banking institutions.
- Export and import companies.
- transnational companies.
- Individual consultancies as self-employed or freelancer.
- Market research centers.
- Your own company!