Master’s Degree in International Business or MBA: What are the differences?

For potential students, it is important to decide between a Master’s Degree in International Business and an MBA. Both teach great skills and impart sound knowledge, but they have different goals and interests in your career. This article examines the key differences between these 2 programs, listing some of their advantages and respective job opportunities. We will also highlight ESIC University's Master’ Degree in International Trade & Business (MITB) and why it is one of the top choices to consider. 

Understanding a Master’s Degree in International Business (MIB) 

While an MSc in International Management (IM) follows a broader approach that deals with all topics relevant to business, varying from finance, marketing, management and entrepreneurship etc., a Master’s Degree in  International Business (MIB) is designed only for the field of global operations. The focus of this degree program is on learning the intricacies of operating and managing successful international businesses, global marketing strategies, cross-cultural management and understanding how to navigate various economic environments. 

Topics studied under the MIB curriculum include international trade laws, global marketing practices, cross-border investment suitableness or compatibility of a system with other systems and management in an overseas team environment. This program specifically focuses on understanding the global business arena, providing students with strategic tools to penetrate and operate in diverse markets. The MIB exposes its students to international negotiation and different cultures, especially in the context of management and planning a global business. International operations are required to handle these skills and for the international niceties of business. 

As a result, candidates with an MIB degree primarily find employment as international business consultants or global marketing managers and usually take on roles such as international trade analysts (if the salary prospects are good), or export managers. They can work in multinational corporations, international organizations and trade and commercial areas of government. 

Understanding the Master’s Degree in Business Administration (MBA) 

As well as being a versatile and widely recognized degree, an MBA provides the candidate with an in-depth knowledge of management. An MBA can also have an international focus, but not as specific as that of an MIB. 

A combination of all such business disciplines is included in the MBA curriculum i.e., finance, marketing, operations/production and strategic management etc. The students can choose the options that interest them most, for example, international business or financial entrepreneurship. How can MBA students improve in areas like leadership, strategic thinking, problem-solving and decision-making? The program also focuses on the networking and business acumen that is common across multiple industries. 

Business Manager Financial Analyst Marketing Director Consultants. A wide range of career options are available to MBA graduates. An MBA is considered one of the most flexible degrees available, and graduates work in fields such as tech, healthcare and finance -just about everything under the sun-. 

Key differences between an MIB and an MBA 

The main difference is in the focus of the program. An MIB is an international business concentration that covers global markets and trade within their diverse fields. On the other hand, an MBA provides you with a more holistic approach to business management with some opportunities to specialize in certain areas. International business programs, specifically MIBs, usually have curricula related to laws governing global trade as well international finance and cross-cultural management. While both programs are focused on business education, MBA programs provide a more expansive distribution of the critical facets of management that are required for most managerial positions. 

While an MIB could also be a better choice when it comes to rank, before applying, students should also consider what they want from the degree in terms of a career goal. Individuals looking to gain knowledge and experience in the field of international trade, global marketing or with a multinational corporation might be more inclined to choose an MIB, since it may fit in better with their intentions.  

On the other hand, people who want to move around different industries and want diverse ranks of leadership may prefer an MBA. One of the main benefits of MBA programs outside academia is that it fosters strong networking, connecting you with a group of professionals from differing professional backgrounds. Both MIB programs have networking opportunities, though they are generally more tailored to professionals who are active in international business areas. MBA programs usually also offer more flexible study durations and delivery modes (e.g., full-time, part-time or online). MIB programs may have a more prescribed format, studying in depth international business subjects. 

Why choose ESIC University's Master’s Degree in International Trade & Business (MITB)? 

ESIC University offers the Master’s Degree in International Trade & Business (MITB) to people  who are interested in knowing more about the international business sector. Here are some reasons for making ESIC University’s MITB program your first choice:  

• The ESIC University MITB program covers vital areas in international trade, global marketing and cross-cultural management. Students study the global business environment as well as practical strategies required to achieve success in international markets.  

• Designed by Industry experts and academicians with vast experience in international business, the ESIC University Faculty is excellent. This, together with a culturally diverse mix of industry and professional associate lecturers, offers real-world learning insights in the classroom. 

• The ESIC University is strongly connected with the most salient companies and organizations around the globe. This allows students to get internships, industry projects and networking opportunities, ensuring a head start in their career. The MITB offers a truly global learning experience. MITB students gain an instant understanding of how important international business is in today's technology-driven world. Case studies, simulations and projects reflecting practical challenges within global trade.  

• The campus of ESIC University has modern facilities and other resources that promote higher learning. Students have all the necessary technology and infrastructure for a better educational experience. 

Career opportunities with ESIC University's MITB 

Companies expanding their operations globally and how to deal with international trade regulations; in short how your company can be the talk of the town!  

• Global Marketing Managers plan and execute techniques for marketing the product worldwide. They study market trends, consumer behavior and competitive environments to craft global marketing campaigns.  

• International trade specialists study global market trends, economic indicators, and market conditions in order to provide advice in international trade decisions. They help government agencies, international organizations and multinational corporations.  

• Export managers are responsible for exporting goods to foreign regions, in this case Australia. Their main duties include international sales and distribution, supporting all rail operators that hold a qualified AEO status. By creating export strategies and fostering relationships with foreign partners, they assist in the process. 

Challenges and considerations for Master’s Degree in International Business and MBA 

However, despite the advantages it offers to those who seek a diversified education and career syllabus, an MIB poses certain challenges that students should consider, along with certain things they should keep in mind. Graduate programs are tuition-intensive and students will want to calculate the ROI of each program.  

There are a number of scholarships, financial aid programs and employer sponsorships that may also help offset costs. These are intense programs that require you to dedicate considerable time to study. Students must decide whether they can handle work-study-life. If they have a clear idea of their career goals, then this can help them decide which type of program is best for them. Be sure to find out what each specific program offers and the expected outcomes. 

This decision basically comes down to career goals, interests and other related factors. Whereas an MIB offers knowledge and skills in international business, an MBA gives you well-rounded management skills along with a general business perspective as a potential for focus.  

ESIC University's Master’s Degree in International Trade & Business (MITB) is for all those who are interested in being part of global markets and international trade and who aspire to comprehensive learning that will help them plan their career prospects.  

If you are interested in delving deeper into Differences between a Masters in International Business and MBA, we encourage you to learn more about our Master in International Trade&Business [MITB]. 

Discover the new business environment that comes with internationalization and prepare yourself for it at ESIC University.