Masters in International Business (MIB) in USA is a postgraduate degree program offering students experience and knowledge about global marketing and business strategies. The program usually takes around 1-2 years to complete, depending on the university and the study pace. Masters in International Business in USA is offered as a master of arts, master of science and as a concentration option in MBA programs.
The top universities for Masters in International Business in USA often require applicants to hold a bachelor's degree, relevant work experience, and to provide test scores such as the GMAT or GRE, along with a strong statement of purpose and letter of recommendation. The tuition fee for a MIB in USA can range from 40,000-90,000 USD (33 lakhs-74 lakhs INR) or more, depending on the university.
International business is a popular field among international students, as it offers opportunities for career advancement in a global market. After completing Masters in International Business in USA, graduates have the chance to work for top companies, such as Amazon, McKinsey & Company, Goldman Sachs, and Microsoft, in various job roles, including Management Consultant, Marketing Manager, Financial Analyst, and Business Development Manager. These positions often come with a competitive salary, ranging from 70,000 USD to 150,000 USD (58 lakhs-1.23 crore INR) or more, depending on the company and the individual's experience.
Check Out: Jobs in USA for International Students
Masters in International Business in USA: Highlights
| Program | Masters in International Business |
| Program Type | Full time |
| Program Duration | 1 – 2 years |
| Eligibility Criteria |
|
| GPA | 3.0 on a 4.0 scale (83-86%) |
| English Proficiency Requirements | · IELTS- 7 · TOEFL iBT - 90 |
| Tuition Fee Range | 40,000-90,000 USD (33 lakhs-74 lakhs INR) |
| Average Salary | 89,000 USD (74 lakhs INR) |
| Top Employers | BMW, FedEx, Apple, American Express, Cisco, Eli Lilly |
Masters in International Business in USA: Top Universities
Masters in International Business is provided in 100+ prestigious institutions of USA. The top universities for MIB in USA, along with the application deadlines and tuition fee are given below:
| University | Program | Deadlines | Total Tuition Fees (USD) |
|---|---|---|---|
| University of Chicago | MBA- International Business | April 11, 2023 | 77,841 |
| Georgia Institute of Technology | Executive MBA - Global Business | June 30, 2023 | 74,712 |
| University of Texas | MBA - Global Business | Round 1- October 11, 2022 · Round 2- January 5, 2023 · Round 3- March 28, 2023 | 58,720 |
| University of Illinois | Master of Accounting Science- Corporate Governance and International Business | April 1 | 40,080 |
| Yale school of Management | Master’s Degree in Global Business & Society | ·Round 1- Jan 5, 2023 · Round 2- Fen 22, 2023 · Round 3- Apr. 11, 2023 | 79,500 |
| Georgetown University | MA in International Business and Policy | Round 1- April 10, 2023 · Round 2-June 10, 2023 · Round 3- August 10, 2023 · Round 4- October 10, 2023 · Round 5- November 10, 2023 | 80,460 |
| Northeastern University | MS in International Management | March 21 | 51,000 |
| George Washington University | MS in International Business | March 1, 2023 | 62,205 |
Why study Masters in International Business in USA?
- The USA is the birthplace of the course. The concept started in 1946 in the American Institute of Foreign Trade, now called Thunderbird School of Management.
- Most Masters in International Business in USA degrees have accreditation from The Association to Advance Collegiate Schools of Business (AACSB).
- According to the US Bureau of Labour Statistics:
- The demand for marketing managers is expected to surge with a projected growth rate of 10% from 2021 to 2031, outpacing the average occupational outlook. This is projected to result in an average of 35,300 new job opportunities in this field annually over the next decade.
- The employment outlook for financial analysts is expected to see a robust 9% growth from 2021 to 2031, outpacing the general job market. On average, the industry will see an influx of 32,000 job opportunities for financial analysts annually over the next decade.
- The unemployment rate of USA as of December 2022 is only 3.7%, indicating abundant job opportunities for graduates
MIB in USA: Specializations and Syllabus
Masters in International Business includes various subjects that indicate the sense of global vagueness management in the students. The subjects are included to ensure that students get a good understanding of the business requirements of a global community in various aspects.
Some of the core subjects included are:
- International financial management
- International field study
- International marketing
- Entrepreneurial Finance
- Global business strategy
Some of the electives included in the course are
- Financial reporting and managerial making
- Global chain strategy
What are the admission requirements for MIB in USA?
Admission to the Masters in International Business course requires the applicants to have a bachelor's degree from an accredited college or university, with a minimum overall aggregate of 83-86%. Though GMAT/ GRE is mandatory in many colleges, a minimum score is not required.
Masters in International Business in USA: Eligibility Criteria
In order to apply for the masters in International Business programmes, the applicants have to fill out the application forms and submit the necessary requirements including the academic transcripts with their translations, essays and referrals.
- Academic Degree- Bachelor's degree
- Minimum GPA – 3.0
- GRE or GMAT Scores- no minimum score
- English Proficiency Test Score – TOEFL iBT- 100+
- Statement of Purpose
- Essay
- Letters of Recommendation
- Experience- 3-5 years
- Valid Passport
- Student Visa
Admission Requirements
All universities require an undergraduate degree and many specifically require work experience after graduate studies. The specific requirements of each university for admission to Masters in International Business in USA are mentioned below.
| University | Academic Requirement | TOEFL Score | Additional Documents (Work Experience, Resume, essay, SOP and LOR) |
|---|---|---|---|
| University of Chicago | Undergraduate degree from an accredited US college or university or equivalent. | 104 | Letters of recommendation | Resume | Professional recognition or certifications |
| Georgia Institute of Technology |
Four-year bachelor's degree from an accredited institution | minimum of five years of full time working experience |
90 | Letters of recommendation | Essay | Resume |
| University of Texas | A bachelor's degree from USA accredited university or equivalent | 79 | Resume | Essays | Letter of recommendation |
| University of Illinois | A major in accounting or agricultural accounting · GPA 3.0 | 103 | SOP | References | Resume |
| Yale school of business | Undergraduate degree | 100 | LOR | Résumé | Essays | Video questions |
| Georgetown University | A bachelor’s degree from an accredited college or university in US or equivalent · Minimum three years of work experience after graduation | 100 | CV or Resume | Essay | One reference |
| Northeastern University | Bachelor's degree · More than 1 year of work experience | 100 | Personal statements | 1-3 LOR | Resume |
| George Washington university | Bachelor’s degree | 80 | Resume | LOR | SOP |
Masters in International Business in USA: Costs
The total cost of pursuing Masters in International Business in USA includes the tuition fee of universities and cost of living in USA. The total tuition fee for Masters in International Business in USA rages from 40,000-90,000 USD (33 lakhs-74 lakhs INR). The annual cost of living in USA is around 12,000-15,000 USD (10 lakhs-12 lakhs INR). A detailed breakdown of the costs that an international student can expect to incur is provided below. It is always preferable to be aware of the costs involved and optimise the budget ahead of time to ensure a smooth experience.
MIB in USA: Tuition Fees
The tuition fee for Masters in International Business in USA in the top universities is given below:
| University | Total Tuition Fees (USD) | Fee for Indian Students (INR) |
|---|---|---|
| University of Chicago | 115,062 | 94,61,950 |
| Georgia Institute of Technology | 21,129 | 17,37,511 |
| University of Texas | 58,720 | 48,28,751 |
| University of Illinois | 40,080 | 32,95,918 |
| Yale school of business | 79,500 | 65,37,563 |
| Georgetown International school of Business | 80,460 | 66,16,507 |
| North-eastern university | 51,000 | 42,12,931 |
| George Washington university | 62,205 | 51,38,537 |
Cost of living in USA
The estimated expenditure and cost of living in USA for an international student is estimated to be 2,448 USD (2 lakhs INR). The following table demonstrates the average monthly expense to be expected by an international student in USA:
| Expense Type | Average Annual Expense (USD) | Cost for Indian Students (INR) |
|---|---|---|
| Accommodation | 9,658 | 7,94,211 |
| Meals | 5,424 | 4,46,034 |
| Transportation | 1,200 | 98,680 |
| Health Insurance | 500 | 41,116 |
| Personal Expenses | 2000 | 1,64,460 |
| Total | 18,782 | 15,44,509 |
Masters in International Business in USA: Scholarships
Numerous scholarships for a Masters in International Business in USA are offered by the government and top universities to international students who are in need of financial assistance to pursue the course. Following is the list of some of the popular scholarships in USA for international students:
| Scholarships | Eligibility | Award Details |
|---|---|---|
| Rotary International Ambassadorial Scholarships | Citizen of a country with Rotary clubs | 2 years of college course work or equivalent | Up to 25,000 USD |
| Fulbright Scholarships for Indians | Indian citizen | Academic excellence | English proficiency | Monthly stipend, Tuition and cost of attendance coverage |
| Inlaks Scholarship | Indian citizen | Minimum 65-75% marks | 100,000 USD |
| AAUW International Fellowship | Non US based women pursuing master’s and doctoral programs in USA | 20,000-50,000 USD |
| JN Tata Endowment Fund (loan) | Indian citizens | Bachelor’s degree | Minimum 60% marks | 1,00,000-10,00,000 INR |
| SelfScore International Student Scholarship | Minimum GPA of 3.0 on a 4.0 scale in prior studies, must score in the top 15% in SAT/ACT | 5,000 USD |
| Global Student Scholarship | Enrolled full-time in an American university/college Submission of 3 essay questions | 1,000 USD |
| TEC Scholarship | Enrolled full-time in an American university/college Submission of essay questions | 1,000 USD |
What jobs can I do after MIB in USA?
The scope of Masters in International Business in USA can provide individuals with a broad range of opportunities in a diverse and dynamic career field, including roles in multinational corporations, international trade organizations, global financial institutions, and non-profit organizations. Some of the most preferred job roles and professions after MIB in USA are as follows:
| Profession | Average Salary (USD) | Salary for Indian Student (INR) |
|---|---|---|
| Management Analyst | 71,000 | 58 lakhs |
| Marketing Manager | 70,000 | 57 lakhs |
| Human Resources Manager | 103,000 | 85 lakhs |
| Financial Analyst | 65,000 | 53 lakhs |
| Financial Manager | 86,000 | 71 lakhs |
| Implementation Manager | 92,000 | 76 lakhs |
| Marketing Assistant | 45,000 | 37 lakhs |
| Project Supervisor | 78,000 | 64 lakhs |
Additionally, some MIB graduates may go on to pursue further academic studies or business entrepreneurship.
Explore: Post-Study Work Visa in USA
Masters in International Business in USA: Return on Investment
The students pursuing master's in international business in the US spend an average of 60,000 USD (50 lakhs INR) for tuition and receive an average salary of 89,000 USD (74 lakhs INR). The university-wise data is given below:
| University | Tuition Fee (USD) | Average Graduate Salary Per Year (USD) |
|---|---|---|
| University of Chicago | 77,841 | 150,000 |
| Georgia institute of technology | 21,129 | 116,667 |
| University of Texas | 58,720 | 128,586 |
| University of Illinois | 40,080 | 61,800 |
Masters in International Business in USA v/s Masters in International Business in Canada
The following table provides the basic differences between Masters in International Business in USA and Masters in International Business in Canada:
| Parameter | MIB in USA | MIB in Canada |
|---|---|---|
| Program | MBA in International Business | MS in International Business | MA in International Business | MBA in International Business | MS in International Business |
| Program Duration | 1-2 years | 1-2 years |
| Eligibility Criteria | Bachelor degree in any field with a minimum 3 years of work experience | Bachelor degree in any field with a minimum 2 years of work experience |
| Percentage Required | 83-86% | 83-86% |
| English Proficiency Requirements | TOEFL: 100+ | IELTS: 7.0 | IELTS (6.5 or above), TOEFL: 88 |
| Tuition Fees | 40,000-90,000 USD (33 lakhs-74 lakhs INR) | 35,000 CAD- 70,000 CAD (21-42 Lakhs INR) |
| Average Salary | 89,000 USD (74 lakhs INR) | 65,000 CAD- 105,000 CAD (39-63 Lakh INR) |
With increasing demand for professionals with a strong understanding of international trade, finance, and marketing, Masters in International Business in USA provides a wealth of opportunities for individuals looking to further their careers. The popularity of MIB in USA among international students speaks to the value and recognition of a degree from a US university, as well as the high level of academic rigor and practical training that these programs offer. The return on investment for MIB in USA can be substantial, with salaries for graduates often outpacing those of their peers in other fields. Whether you are looking to work in a multinational corporation, an international trade organization, or as an entrepreneur, a Masters in International Business in USA provides a solid foundation for a successful and rewarding career.
FAQs
Is Masters in International Business Better Than MBA?
It depends on individual career goals and interests. Both Masters in International Business (MIB) and Masters of Business Administration (MBA) degrees have their own strengths and can lead to successful careers in the business world. MIBs are designed specifically for individuals who are interested in international business and want to develop a deep understanding of the complexities and opportunities of doing business across borders. MBA programs, on the other hand, offer a broad business education with a focus on general business management and leadership. MBAs typically cover a wide range of business topics, including finance, marketing, strategy, operations, and human resources, among others.
What is the scope of Masters in International Business in USA?
The scope of Masters in International Business in USA can provide individuals with a broad range of opportunities in a diverse and dynamic career field, including roles in multinational corporations, international trade organizations, global financial institutions, and non-profit organizations.
What can I do with an International Business Master's Degree?
A graduate of International Business master can pursue stone high paying jobs and roles like Global sourcing manager, International marketing manager, business development director, human resource manager, marketing analyst, etc.
What is the course duration for MS in International Business in USA?
Masters in International Business in US usually takes around 1-2 years to complete, depending on the university and the study pace.
What is the salary of a Master in International Business?
Graduates of masters in international business in USA can earn an average salary of 89,000 USD (74 lakhs INR)
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