The phrase “It’s a small world” has taken on new meaning in the enterprise sector in recent decades. This is particularly true as more organizations cross national borders to establish partnerships and do business with one another. In this type of corporate landscape, demand is rising for international business careers that can take professionals on exciting journeys around the world.
To achieve a career in international business, employment candidates must be armed with the right skills, education, and experience. One of the best ways to achieve this is through a robust higher education program like the Online Master of Business Administration from Northeastern University’s D’Amore-McKim School of Business. The Online MBA enables students to specialize in key concentrations that align with leading international business careers today, including international management, finance, supply chain management, marketing, and more.
Let’s take a closer look at the current, top international business careers, as well as the responsibilities of each role and salary that graduates can expect.
1) Financial Analyst
Organizations that operate on a global scale need financial analysts who can help manage the enterprise’s portfolio, while also taking into account the overarching economic trends in the business’s market sector.
International financial analysts also engage in value determinations based on current and historical financial statements, and will meet with business decision-makers to review reports and assess the business’s overall financial strength.
Most financial analysts are employed in international securities, commodities, financial investment services, and international trade organizations. The U.S. Bureau of Labor Statistics reported the international business salary for financial analysts can fall between $78,870 annually on the low end, and $101,410 for top earners. In May of 2018, the median annual wage for financial analysts was $85,660.
The job growth outlook for financial analyst positions is currently 6% through 2028, approximately as fast as average compared with other employment roles.
2) Marketing Manager
Marketing managers oversee the business’s marketing strategy and guide critical strategies like audience targeting, market research, advertising, social media and online presence, and more. These tasks are incredibly important to the success of the business, and enable brands to reach out to potential buyers and take them through customer stages like awareness, education, consideration, conversion, and purchase.
On an international level, marketing managers have their work cut out for them. Not only must they take into account the wants and preferences of their local market and audience, but also consider the global perspective as well. Marketing managers for international businesses must be well-versed in market research and target audience insights, and will help create marketing campaigns to appeal to certain audiences or business regions.
In addition, marketing managers will also negotiate contracts with other advertisers and sales representatives, and meet with department heads to discuss current campaigns and marketing strategy. It is also up to the marketing manager to evaluate current demands based on their market research, and use these insights to help develop pricing strategies and identify any market niches the brand may be overlooking.
The average international business salary for marketing managers was $125,510 annually as of May 2019, the BLS reported. Salaries for these professionals can range from $61,930 for low earners to as much as $147,100 annually for top earners, depending on working environment, industry, professional experience, and other factors.
The BLS forecasts 8% job growth for this role through 2028, during which time more than 21,000 employment opportunities will become available.
3) Supply Chain Manager
Supply chains and the movement of products or services to support distribution is an incredibly complex process on any scale. When the supply chain involves several global partners, however, an international supply chain manager with experience in purchasing, transportation, inventory, and warehouse storage is a requirement for effective operations.
An international supply chain manager oversees and guides the entire lifecycle of a product or service, from material allocation and manufacturing to storage and distribution. On an international scale, there are many moving parts to take into account, including research and development, allocating materials and supplies, and facilitating the movement of these goods to other partners within the supply chain.
Most international supply chain managers work in the manufacturing industry, but other employment opportunities also exist in scientific and technical services, wholesale international trade, and federal governments.
According to the BLS, supply chain managers ― sometimes also called logistics or distribution managers ― took home a median annual wage of $103,320 as of May 2019. These professionals can earn salaries of $55,850 annually for the lowest 10% of earners, or as much as $160,500 for the top 10% of professionals.
This role will experience a 5% growth in the overall job outlook through 2028, about average compared to all occupations, according to the BLS.
4) Human Resources Manager
An organization that engages in international business must also keep a close eye on its human resources and employees, particularly when they are located across different geographical areas.
It is up to international human resources managers to support the business’s workforce. This includes recruiting, hiring, and onboarding new talent, establishing the company’s compensation and benefits packages, and resolving any staffing problems like disagreements or disciplinary actions. Human resources managers also consult with other department stakeholders about key employment factors like workforce diversity and equal compensation.
The human resources manager may also engage in workforce training programs to improve company culture and overall work environment.
Human resource managers earned a median annual wage of $116,720 in 2019. According to the BLS, salaries can range from $99,380 annually to $131,340.
Overall, there will be 7% job growth for this position, with more than 10,000 positions opening up through 2028, according to the BLS.
5) Management Consultant
Another highly in-demand career opportunity for international business degree students to consider is the role of management consultant, also called management analyst.
A management consultant typically works externally for a consulting firm, and is hired by an organization to analyze performance, financial data, and other areas for overall efficiency. The management analyst will identify any problematic areas within the business and help decision-makers incorporate new policies to address these issues and make improvements.
Management consultants earned a median annual wage of $85,260 in 2019, but can earn as much as $91,160 annually, according to the BLS.
The BLS predicts this position will experience 14% job growth through 2028, creating more than 118,000 employment roles.
Supporting an International Business Career
These careers all have a few key factors in common: Positive job growth outlook ― in many cases, growing faster than the average growth seen across all occupations ― as well as employer preferences for higher education like a Master of Business Administration degree.
Northeastern University’s Online MBA can help prepare students for these in-demand international business careers, particularly through concentration areas like international management, supply chain management, marketing, and finance.
To find out more, connect with our enrollment advisors for more program details today.