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How to Choose a Global Management MBA
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An MBA (Master of Business Administration) is a degree that allows people to manage all aspects of a business. As the world is becoming increasingly smaller, and business operations tend to run on a global level, there is also a larger demand for professionals who have an understanding of the global market. This is where an MBA in Global Management comes in. Essentially, they specialize in the effective management of multinational companies and international economics.
What We Do
Those who hold an MBA in Global Management work in all sorts of different sectors, including business, non-profit and government. Any work that they do is done from an international perspective, however. As a result, they often work for international companies and they often climb to the highest corporate levels as possible. Others, however, prefer to become consultants or teachers in business schools. Essentially, what they do is ensure the organization they work for is able to function on a global, international level, across different cultures, languages, time zones, currencies and more. They do this by focusing on aspects such as marketing, finance and other administrative elements.
Why It’s Hot
The U.S. Bureau of Labor Statistics does not yet have a specific category for those with an MBA in Global Management, probably because they can get to work in so many different industries. However, purchasing managers earn an average of $60,550 per year at entry level (bachelor’s degree or lower). They are experiencing job growth of 4%. In terms of financial managers, average salaries are $109,740 at bachelor’s degree, with 9% growth. They also claim operations managers earn around $117,200 per year. This shows the great variety of salaries that are possible. However, none of these are based on a master’s degree level, which means you could earn significantly more.
The main reason why these professionals are becoming in such high demand, however, is because the world is becoming increasingly international. Few businesses today survive if they do not consider working and trading with organizations across the globe. This requires specialist skills and knowledge.
In almost all cases, someone with an MBA in Global Management will work in an office. However, a lot of travel will also likely be involved. Hence, you may actually have a number of hot desks around the world.
How to Do It
To achieve an MBA in Global Management, you will first need to complete a four year bachelor’s degree. The major should be relevant to global management if at all possible. Admissions to MBA programs is highly competitive and a lot will depend on how well you do on the GMAT exam. It is also recommended to apply for a number of different schools to increase your chances of being accepted.
One on-campus option you could consider is the MBA Global Management program offered by Berkeley Haas at the University of California Berkeley. It is a three year degree program and, as the focus is on global management, students have the opportunity to study abroad as part of their degree program as well.
There are also numerous online programs you could choose to complete. This gives you the opportunity to study around your personal and professional commitments.
- *Online MBA International Management Specialization – Northeastern University – This degree program looks at how international finance and marketing should be managed properly. Additionally, it focuses on the various cultural aspects involved in an international business.
- Online MBA in Global Management – Ashford University – This degree provides graduates with the understanding to manage businesses across cultural and national boundaries. Students take part in three specific Global Management courses that allow them to become experts in leadership strategies from a social and political context. Additionally, it allows for various global management styles to be better understood.
- Online Master of Global Management – Thunderbird School of Global Management – This program prepares graduates to take on positions of leadership within multinational organizations and non-government institutions. Students are expected to already have excellent leadership skills, to be adaptable, to be able to tolerate ambiguity and to have a true passion for learning other cultures.
- Online MBA in International Business – Nova Southeastern University H. Wayne Huizenga College of Business & Entrepreneurship – Graduates are prepared to have communication skills that can be applied across different cultures. They learn to manage conflict in multinational business, understand the social and political events that affect business, manage different monetary systems and more.
- Online MBA International Management – UT Dallas – Students take courses in marketing, finance, legal, strategic and cross-cultural management. Integrated with international business practice and policies, graduates are ready to start work in an international field.
- Fisher Online MBA in Global Impact Management – Middlebury Institute of International Studies at Monterey – This program trains creative problem solvers and principled leaders to help build a business that is able to grow through the particular challenges of the 21st century.
- MBA in Online Global Management and Administration – Point Park University – A 36 credit program that prepares graduates to take on the challenges of the ever changing, global and dynamic marketplace. The focus is on international, real-world business practice and graduates are ready to understand and meet the demands of the global business market.
- Masters Certificate in Global Leadership – University of Fredericton Canada – This Canadian program is a highly popular international program. It is particularly interesting for international students, as they will immediately be immersed in cross-cultural affairs. The program focuses particularly strongly on leadership techniques.
- Online International MBA – Anaheim University – A program that focuses on the cores of business administration, while integrating the intercultural communication that is needed in an international business. The program takes 18 months to complete.
- Online Executive MBA Program – Kellogg School of Management at Northwestern University – Students become members of the Executive MBA Global Network. This means they communicate with seven campuses around the world, allowing for true immersion.
Pros & Cons
Choosing to study towards an MBA is a decision not to be made lightly. You must carefully consider the pros and cons of such a career choice before embarking on your educational journey.
- With an MBA in Global Management, you can quite literally work around the world. This means that if you have always wanted to experience different cultures, you now have the opportunity to do so.
- Salaries are very interesting and there are opportunities for bonuses.
- You will receive a lot of professional respect by holding a prestigious degree.
- Obtaining the degree can be very costly, both in terms of time and money.
- Hours can be long, particularly due to the fact that you will be working across different time zones.
- The pressures of the job are high and the chance of burnout is very real.
- Ashford University Online Scholarships – Ashford offers a range of scholarships to their online students.
- TACAS program – A 40% tuition scholarship for Thunderbird students who meet all the necessary requirements.
- The Northeastern Grant – A grant awarded to students of Northeastern University who can demonstrate financial need and have proven academic ability to complete their program.
- Graduate Business Student Tuition Award – An award of up to $6,200 towards graduate tuition for students of the Nova Southeastern University.
- Naveen Jindal School of Management Scholarships – Awarded to students who are enrolled with the JSOM. Various awards are given depending on need and academic achievement.
- Management analyst – Here, you will mainly analyze data to help drive improvements across profit, efficiency and structure. You can also choose a specialization in a certain area such as health care, or in relation to a business function such as logistics or marketing. Demand for these professionals is very high, as it allows businesses to compete not just nationally but globally.
- Management executive – Your role will be to set new goals for the organization by working together with other executives. Together, you will develop the necessary strategies that will allow the business to actually meet these goals. You will be responsible for developing the company culture as well. Unfortunately, this is a highly stressful position.
Global program director – This will generally be with a nonprofit organization, although some higher education institutions and private companies now also search for these professionals.
- International sales and marketing manager – You will most likely work in the consumer goods or manufacturing industry. There is believed to be a higher than average growth in demand for these professionals.
- Global account manager – You will oversee the processes in place within a business that relate to their international communication and sales. Often, this position is a consultancy position.
- Post-secondary business teacher – While still uncommon, an increasing number of MBA graduates are now choosing to become teachers and educators. The focus is almost always on adult education and on schools that deliver MBA training themselves.
- Purchasing agent – Buying the goods that a company needs. You will work with buyers and sellers on the domestic and foreign market, ensuring that you will get the best possible deal. Hence, much of your job will be around evaluating other companies to ensure they meet your minimum standards and requirements.
- Corporate service manager – Your role will be to oversee the overall administration of a business, often focusing on a specific area such as human resources. Additionally, you are likely to be involved in monitoring performance, planning strategically, building partnerships and managing the budget. You will also do a lot of research with an aim to improve productivity, as well as trying to secure new methods of finance.
- Financial manager – Financial managers are vital in businesses that are looking at global expansion, which is common in most businesses today. Their role is maximize profits while reducing risks at the same time. They raise capital, handle mergers and access global financial transactions. They will be in higher demand over the next few years, as more and more businesses are becoming present on the global market.
- Journal of Business and Management
- Bloomberg Business Week
- Money Management
- CGMA Magazine
- Women in Business and Management: Gaining Momentum
Six websites with helpful resources for those working in field relevant to an MBA in Global Management