Masters in International Business (MIB) in USA: Fees 2023, Top Colleges, Placements & Salaries

Masters in International Business (MIB) in USA: Fees 2023, Top Colleges, Placements & Salaries

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.
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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:
  1. 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.
  2. 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:

MIB in USA: Tuition Fees

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

Cost of living in USA

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:

MiB in USA jobs

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.
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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:

Masters in International Business in USA: Return on Investment

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)

Top Institutes To Study
Harvard University
Harvard UniversityCambridge,Massachusetts
Stanford University
Stanford UniversityStanford,California
University of California
University of CaliforniaBerkeley,California
Columbia University
Columbia UniversityNew York City,New York
University of Chicago
University of ChicagoChicago,Illinois

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