What is Global MBA?- Is it Worth comparing with International MBA
A Brief Guide On Global MBA
Students interested in business management studies may plan to pursue global MBA program or international MBA course to be a part of an international organization or company. Today, MBA is not just a course that can help you get a degree. It is more than a course that lets you make a life. These MBA curriculums are different than that of a conventional program. The courses of global and international MBA are designed to focus on the business procedures related to the international climate. They consider elements occurring in the world and does not limit to one or a couple of countries. Therefore, global MBA is turning out to be more popular and there are many business schools that are offering such options.
Global MBA and international MBA are different programs, and undoubtedly the most regarded programs all across the world. Although they seem to be similar or on par, but their educational purposes are different. If you want to know more about these popular MBA courses, then reading this post would be helpful.
What is global MBA?
Global MBA program is an advanced curriculum that offers a global standard to the students. One of the main focuses of the curriculum is to bring students from different backgrounds, cultures, and places together. The MBA program provides knowledge on the global development of the management and what kinds of skills are required to work in the field. Some of the common skills that are taught in the program are entrepreneurship, communication, and management in a broader spectrum. It also provides information on the developing businesses and industrialization.
The global MBA curriculum offers a lot of advantages to the students, mainly to expand their leadership and managerial skills to offer support in the global economic market. They offer a training to teach certain essential techniques to be prepared for the futuristic perspective while dealing with the economy problems. Some of the key features of a global MBA include:
- Strong relationships with international projects, careers, and internships
- Plenty of opportunities to work and study in foreign countries
- A diverse student body from the world
- Professors and other faculty members from international background
- A planned global strategy including global projects, physical facilities, international coursework, and a strong foundation of global business.
What is international MBA?
International business revolves around the cross-borders management and business activities, including transactions of resources, services, and goods between countries. It focuses on comparing and finding differences between political systems, labour, corporate culture, laws, local culture, and economy. The courses even focus on living conditions and social issues, including education and climate. The curriculum is designed to develop certain managerial skills along with expansion of multinational knowledge. Students can reap a lot of benefits with respect to international MBA course. For instance, it helps you get an insight of international issues, and lets you develop new skills set, which can be changed to different areas.
The international MBA course makes you a qualified professional in different management positions. Some of the main areas of focus are cross cultural management, international government policies, multinational operations, international financial services, and a lot more. Once you have an international management degree, you will have many career options in front of you, not just in your own country but also in other countries. Some of the well known designations include business development director, financial controller, international marketing director, foreign policy advisor, trade and customers manager, and multinational manager.
International MBA course is designed with a combination of theoretical knowledge plus practical understanding and skills development. Therefore, you would have a concrete foundation of business solutions that prepares you to solve cross-country problems and be ready to face the world.
What is the difference between global MBA and international MBA?
Here are some major differences between global and international MBA program:
- The diversity of global MBA program is more than international MBA. The motive is to have culturally diverse class profiles to provide more number of opportunities to the students. This way, they can build their own network and figure out how important is communication. On the other hand, international MBA doesn’t have a foundation of diversity in culture. The candidates need to adopt the culture in the country they are.
- Global MBA courses are taught in any local settings; it’s all about providing global education. But international MBA courses can be delivered in foreign settings so that the students get an understanding of different cultures and economies of different countries.
- The curriculum of both the courses is different. For instance, global MBA teaches students to develop their skills and sharpen them to be used in the global setting. On the other hand, international MBA teaches students to about the functionalities of international students. Therefore, the business spectrum of international MBA is broader than that of global MBA.
Who are eligible for global MBA programs?
Every country has a set of eligibility criteria for the students who want to enrol in the global MBA program. Some of the generic ones are:
- Bachelor’s degree from an accredited college or university
- Two or three years of experience, based on the background
- Letters of recommendation from your professors or employers
- A personal statement or a resume
- English language certificate, the score varies based on the university
- Some colleges may ask for a GRE or GMAT score
Other criteria can be checked on the website of the college or university of which you want to be a part of for pursuing global MBA program.
How much is the cost of global MBA program?
The cost depends on where the college or university is located. It might take more than $50,000 if you want to pursue global MBA education in the top-notch universities of the US. The cost could be a little low if you choose Asian or European cities, say between $30,000 and $50,000. Also, the cost could vary depending on tuition and application fees, accommodation, and other factors.
What are the career options with global MBA?
There are plenty of career opportunities that you can choose from once you have a global MBA degree, here are some of them:
- Business development manager: The job profile would want you to make strategies for the business to maximize profitability. As a business development manager, it is essential to understand the requirements of the company to come up with right plans. You would need to negotiate business deals, work with marketing and sales team, and also improve the revenue of the business.
- International trade specialist: The job requires you to perform varied kinds of responsibilities such as providing suggestions on foreign and federal regulations, exporting operations, and tariff related payments.
- Global supply chain manager: You would need to identify the reliable parties in the global markets, come up with supply chain strategies, and help the trade advisors and consultants. They need to be flexible with the clients and companies and sort out the inventory and revenue related issues.
- Global management consultant: As a consultant, you would need to improve information technology and financial services of the company to enhance the marketing performance. You may need to assess the company culture, provide personalized solutions, and improve the productivity of the workforce. You would also need to find the resources in the company who can be optimized to reduce the costs.
- Multinational marketing manager: Your job as a marketing manager of a multinational company would be to look for the patterns in the foreign markets to come up with consistent advertising campaigns. Basically, you need to maintain the reputation of the business.
What is the salary you get, if you have global MBA?
There is no doubt that a global MBA degree gets you higher salaries when you work in big notch companies or organizations. The salaries vary based on the job role and the company. For instance, the salaries in Switzerland, Canada, United States, and Australia are higher than in countries like Germany, Japan, and Singapore. However, you can earn more than $60,000 or $70,000 per year. It would be more than $100,000 in the leading companies of the US.
What are the pros and cons of global MBA?
There are both benefits and limitations when you pursue global MBA, we shall check out the major ones here.
- Students would get a richer educational and learning experience. They would be surrounded by different people, cultures, policies, and customs. It helps in expanding personal growth, gives a boost to track yourself, and get a positive approach towards life.
- You will have a unique and strong network of your own that will give you a chance to expand your horizons and learn more from your peers.
- As a global MBA degree holder, you can gain higher salaries and your career graph can be seen going higher with every year.
- You may have to suffer from stress as you may have conflicts with your peers leading to misunderstandings.
- The grading systems in the colleges could really be harsh and achieving the target would be even more difficult.
- You may have to give your entire time without any compromises when studying in a reputed global MBA university. You would have to spend a mountain of money for the program.
If you are looking for a successful career in business management, then start planning for your global MBA education.