Is An International Business Degree Worth It In 2024?

All these fantastic benefits may be why you should study international business management. However, there's more to this than meets the eye, so you must dig deeper into this degree before you take that step.

In this article, we’ll explore everything you need to know about a degree in international business management, including potential career opportunities and benefits and its negative implications for your personal and professional life to help you make an informed decision about your career.

Is An International Business Degree Worth It?

Deciding to take an international business degree is a challenging feat. To determine if this is your best next step, you must familiarize yourself with the potential pros and cons of taking this degree, which we've listed below.

What are the benefits of studying an international business degree program?

An international business program offers all the obvious benefits of an advanced business degree: high earning potential, improved employability, and diversified transferable skills.

But wait, there’s more.

An International Business Management program is not merely a degree; it’s a life-changing journey that will introduce you to the global and international market and take your career to a whole new level.

An international business degree helps professionals cultivate a global business perspective, allowing them to:

• become eligible for multinational and international companies

• work in diverse settings and with different kinds of people

• learn the must-have soft skills (cultural sensitivity and cross-cultural communication) that will help them navigate the intricacies and overcome the challenges that come with globalization,

• have access to more and better career paths and opportunities

All these benefits will give business professionals a competitive edge, allowing them to quickly adapt and thrive in the rapidly changing and always-evolving business landscape.

What are the drawbacks of studying for an international business degree program?

While it does come with plenty of benefits, most professionals are reconsidering undertaking this degree because of the following potential disadvantages:

High Fees

Taking an MBA can get too expensive. Aside from the already hefty 5 to 6-figure tuition fees, you also have to take into account additional expenses for books, supplies, fares, and other miscellaneous fees.

Opportunity Cost

These programs are also time-consuming, making it difficult for students in this major to balance work and school. Because of this, most students have to make financial and professional sacrifices, like reducing their workload or resigning from their current positions.

Big Commitment

The time, effort, and mental upkeep needed to complete the program can interfere with your personal and professional responsibilities and significantly affect your relationships, professional career, and mental, emotional, and physical health.

The excellent news is that Nexford offers MBA and BBA programs designed to solve these concerns. Their affordable tuition fees (only $135 to $220/ month) can help you save money. At the same time, the program's online, flexible, and self-paced nature allows you to save time, ensuring that earning these degrees will be worthwhile.

Considerations before applying for a degree in international business

Here are some of the things you need to consider to determine if taking a degree in international business is the right step for you:

Your Career Goals

The first step is to identify your career plans. Consider the industries and regions you plan to work in and the roles you wish to achieve, and determine if the degree can help you achieve these goals.

Curriculum

Please review the program's curriculum to ensure that it will give you well-rounded business knowledge and a solid business foundation for your career.

With that said, the coursework must include topics like:

• International Finance and Marketing

• Global Market Analysis and Supply Chain Management

• International Trade Law

• Global Business Strategy

• Cross-cultural Communication and Management

Accreditation

Check the university or program provider's reputation and accreditation to ensure that the education you'll receive aligns with industry standards.

Cost

Assess the program's total cost, including the tuition fee, living expenses, fare, allowances, other potential expenses, and lost income for full-time programs.

Exploring available financial aid options, such as grants and scholarships, is essential to help you cover costs.

Schedule and Duration

Look into how much time you need to invest in the program by checking how many units it has and how long it will take to complete them (usually a year or two of full-time study). In this way, you can determine if you’re ready to take on the time commitment the program requires.

Conclusion - Is a Degree In International Business Worth It?

There's no straightforward answer to this because whether studying for an international degree is worth it depends on your career goal, interests, and individual circumstances.

With that said, earning a master’s or bachelor’s degree in international business is worth it if you:

• are interested in working for government agencies, larger organizations, and international companies

• want to learn about different cultures, laws, and histories and how these shape the way countries conduct business

• wish to discover how to conduct business on a global scale and maintain international relations

• dream of having an international travel and work experience

• love to learn a foreign language or already know one

• want to establish globally competitive businesses

• enjoy learning about the global market and trade

• are preparing for an internationally-based job

Suppose you've already figured out that studying for an international business degree is the right step, but you're hesitant to take the step due to the potential drawbacks. In that case, you should check out Nexford’s online BBA and MBA programs specializing in International Business.

These programs can be completed at your own pace at any time, so you can work around your schedule and complete them without having to quit your job. Not only that, these are also more affordable than traditional graduate programs because they have low tuition fees, and the online nature eliminates the need for additional expenses that you may incur when attending a brick-and-mortar university.

Here’s the best part: In collaboration with their local partner banks, Nexford also offers scholarships and loan programs to qualified Nigerian students, allowing them to enjoy all the benefits of an International Business degree with minimal risks.

FAQs - About How To Decide If It’s Right For You? 

What is an international business degree?

An international business degree helps students learn about the basics of managing businesses and organizations that cater to various markets and operate in different countries around the world.

Aside from basic management principles and business strategies, this degree also provides international business majors with additional information about each country, including its cultures, foreign languages, sociopolitical differences, economic, legal, and financial systems, and unique business policies.

What can you do with a degree in international business?

Earning a BBA in International Business is a gateway to better and more exciting career pathways. It increases your career options and makes you eligible for occupations that are highly in demand overseas.

With this degree, you can work in multinational companies in the finance, business, or technology industry, join international trade organizations, or build an import or export business.

Here are the most famous roles that International business degree holders can apply for:

• Management Analyst

• Finance Analyst

• Economist

• Policy Analyst

• Digital Marketer

• Import/ Export Compliance Specialist

• Public Relations Specialist

• Business Analyst

• International Accountant

• Recruitment Consultant

What can you do with a master’s in international business?

An MBA in International Business helps you build advanced specialized knowledge in a particular country or industry and demonstrates your commitment to professional growth, credibility, expertise, and authority, qualifying you for positions with higher responsibilities, prestige, and pay. 

You can use this higher business degree to transition from entry-level and intermediate-level positions to upper and executive management roles.

Below are the most common International business degree jobs you can get with this degree:

• Human Resources Manager

• Marketing Manager

• Business Development Director

• Supply Chain Manager

• Corporate Investment Banker

• Global Operations Manager

• Director of Sales

• Global Product Manager

• Global Sourcing Manager

Is a master's in international business worth it?

A master’s in international business is worth it if you’re already a professional in the IB sector who:

• wish to get a promotion in your current company

• increase your earning potential

• have a bachelor’s degree in international business and years of work experience

• are aiming to advance to higher roles or more prestigious positions

• want to gain access to a more influential business network

However, it's essential to consider that an MBA is more expensive and time-consuming than a BBA. That's why you should look for an online MBA program that will allow you to obtain higher learning most affordably and conveniently possible. 

With that said, you should check out Nexford’s learner-centric and affordable business programs, which you can complete in your own time and only for a fraction of the cost.

Not only that, but these programs are also DEAC accredited and provided by a highly reputable US-based university so that you can enjoy quality education with less stress and hassle.