International Business Management Degree vs. Traditional MBA
When it comes to furthering your education in business, there are a lot of things to take into consideration. Master’s degrees can increase your earning potential significantly, and business degrees are both one of the most popular choices and most significant when it comes to earning more, according to the Bureau of Labor Statistics. The Master’s of Business Administration, commonly referred to as an MBA, is the standard choice for most pursuing a graduate degree in business, but it’s far from the only option. With degrees in more specific areas of business, such as international business management, you might fare better, depending on your goals and skills. So how can you decide which degree is right for you? Let’s take a look at both of these degrees, what you’ll learn, and what they’re good for, so you can make an informed decision that fits your life.
MBAs are among the top graduate degrees in the US, and for good reason. Most MBA programs are extremely flexible, with dozens of unique concentrations in a variety of disciplines, such as marketing, entrepreneurship, finance, and more. The traditional style of MBA focuses heavily on business management, aiming to help students develop skills such as personnel management, managing finances, business ethics, and organizational structure. They’re often designed to be broad-based, offering a certain level of competence in many of the areas critical to business success. A lot of MBA programs are also very aware that the most likely students are busy adults and are typically available in many different formats aside from full-time study, such as online, part time, accelerated programs, and executive-style weekend courses. While an MBA usually takes about two years to earn with full-time study, accelerated programs can take as little as one year, while part-time study can take as much as four years, depending on course load. MBAs are well known and carry with them some amount of prestige; They are even sometimes required for high level management positions at major corporations.
International business management is sometimes an area of concentration in MBA programs, but it’s also a stand-alone degree known as Master of International Business. A degree in international business is good for those who seek to travel and work abroad, immersing themselves in other cultures. Coursework in international business programs involves topics like global economics, laws governing international commerce, managing employees of other cultures, and more. You might even specialize in certain areas of the world, learning about their language, culture, and business traditions. International business programs also cover some of the general business material that MBAs do, such as operational management and marketing. While MBAs are suitable for those running their own small businesses and working in large corporations alike, a Master of International Business is better for those who intend to work at multinational companies where they can put that knowledge of other cultures to work. As a graduate-level degree, this still carries a fair amount of respect and prestige for those who earn it, although it isn’t as well known as the MBA.
Both MBAs and Master’s in International Business are valuable degrees which can greatly enhance your business acumen, although they have different applications in practice. If you want to run your own business, or work mostly close to home, an MBA might be a better choice for you. Those who enjoy travel, learning about other cultures, and being a part of a major company would likely be good candidates for international business. While ultimately, the decision of what degree to pursue is yours, these basics can help you to find out what path might be best.
