International Business
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Types of Degrees International Business Majors Are Getting
The following table lists how many international business graduations there were in 2018-2019 for each degree level.
| Education Level | Number of Grads |
|---|---|
| Master’s Degree | 2,170 |
| Graduate Certificate | 194 |
| Doctor’s Degree | 53 |
What International Business Majors Need to Know
O*NET surveyed people in occupations related to international business and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.
Knowledge Areas for International Business Majors
According to O*NET survey takers, a major in international business should prepare you for careers in which you will need to be knowledgeable in the following areas:
- Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
Skills for International Business Majors
A major in international business prepares you for careers in which the following skill-sets are crucial:
- Speaking - Talking to others to convey information effectively.
- Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
- Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Abilities for International Business Majors
Some of the most crucial abilities to master while a international business student include the following:
- Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
- Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Written Comprehension - The ability to read and understand information and ideas presented in writing.
- Speech Clarity - The ability to speak clearly so others can understand you.
- Written Expression - The ability to communicate information and ideas in writing so others will understand.
What Can You Do With a International Business Major?
People with a international business degree often go into the following careers:
| Job Title | Job Growth Rate | Median Salary |
|---|---|---|
| Business Professors | 18.0% | $83,960 |
| General and Operations Managers | 9.1% | $100,930 |
Who Is Getting a Master’s Degree in International Business?
Racial-Ethnic Diversity
At the countrywide level, the racial-ethnic distribution of international business majors is as follows:
| Race/Ethnicity | Number of Grads |
|---|---|
| Asian | 87 |
| Black or African American | 113 |
| Hispanic or Latino | 150 |
| White | 421 |
| International Students | 1,299 |
| Other Races/Ethnicities | 100 |
Geographic Diversity
Americans aren’t the only ones with an interest in International Business. About 59.9% of those with this major are international students. The most popular countries for students from outside the country are:
- China
- India
- Venezuela
- Japan
- South Korea
How Much Do International Business Majors Make?
Master’s Degree Starting Salary
Data from the U.S. Department of Education shows that international business students who graduated in 2015-2017 with a master’s degree made a median starting salary of $71,150 per year. During this timeframe, most salaries fell between $55,725 (25th percentile) and $78,325 (75th percentile).
We don’t know for sure if all of these people took jobs related to international business so take that into consideration.
Salaries According to BLS
Average salaries range from $103,330 to $200,140 (25th to 75th percentile) for careers related to international business. This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.
To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.
Amount of Education Required for Careers Related to International Business
Some careers associated with international business require an advanced degree while some may not even require a bachelor’s. Whatever the case may be, pursuing more education usually means that more career options will be available to you.
How much schooling do you really need to compete in today’s job market? People currently working in careers related to international business have obtained the following education levels.
| Education Level | Percentage of Workers |
|---|---|
| High School Diploma - or the equivalent (for example, GED) | 5.8% |
| Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production) | 3.5% |
| Some College Courses | 8.5% |
| Associate’s Degree (or other 2-year degree) | 4.8% |
| Bachelor’s Degree | 24.3% |
| Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master. | 11.8% |
| Master’s Degree | 15.9% |
| Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level. | 5.0% |
| First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession. | 0.8% |
| Doctoral Degree | 20.1% |
Online International Business Programs
In 2018-2019, 608 schools offered a international business program of some type. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.
| Degree Level | Colleges Offering Programs | Colleges Offering Online Classes |
|---|---|---|
| Certificate (Less Than 1 Year) | 58 | 9 |
| Certificate (1-2 years) | 22 | 2 |
| Certificate (2-4 Years) | 2 | 0 |
| Associate’s Degree | 56 | 13 |
| Bachelor’s Degree | 40 | 8 |
| Post-Baccalaureate | 58 | 9 |
| Master’s Degree | 127 | 29 |
| Post-Master’s | 9 | 0 |
| Doctor’s Degree (Research) | 9 | 1 |
| Doctor’s Degree (Professional Practice) | 0 | 0 |
| Doctor’s Degree (Other) | 0 | 0 |
Is a Degree in International Business Worth It?
The median salary for a international business grad is $123,880 per year. This is based on the weighted average of the most common careers associated with the major.
This is 210% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,679,600 after 20 years!
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Majors Related to International Business
You may also be interested in one of the following majors related to international business.
| Major | Number of Grads |
|---|---|
| Business Administration & Management | 135,757 |
| Accounting | 21,904 |
| Management Sciences & Quantitative Methods | 14,136 |
| Human Resource Management | 10,770 |
| General Business/Commerce | 10,236 |
| Finance & Financial Management | 6,277 |
| Marketing | 3,308 |
| Management Information Systems | 3,158 |
| Entrepreneurial Studies | 1,778 |
| Taxation | 1,611 |
| Other Business, Management & Marketing | 1,240 |
| Real Estate | 1,186 |
| Hospitality Management | 1,072 |
| General Sales & Marketing | 637 |
| Construction Management | 507 |
| Business/Managerial Economics | 267 |
| Specialized Sales, Merchandising & Marketing | 221 |
| Insurance | 173 |
| Business/Corporate Communications | 80 |
| Telecommunications Management | 38 |
| Business Support & Assistant Services | 0 |
References
- College Factual
- College Scorecard
- National Center for Education Statistics
- O*NET Online
- U.S. Bureau of Labor Statistics
- Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
- Image Credit: By Ninaras under License
More about our data sources and methodologies.
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