
Irrespective of whether you want to pursue a post graduate course from a national or International university, MBA would always seem an obvious choice if you want to forge a career in management. Despite many other post graduate management courses, MBA has maintained its popularity due to the versatility and scope it offers to the students. Nevertheless, there are certain professional degrees that can help you carve out your career in the same way as an MBA. One such course is MSc in International Management.
Before we move on to spot the difference between the two and you decide to choose between the leading MBA programs, let us understand basic definitions of pursuing an MBA and an MSc.
MBA or MSc?
MSc is a degree that would focus on one specific subject or specialization. For instance, if you are looking forward to pursue international management, MSc will divert your track completely towards international management, leaving aside all the other management specializations. Thus, for people who are looking forward to pursue their career in one specialized field, MSc is the perfect choice.
MBA, on the other end of the spectrum, is an all-inclusive degree. From the beginning, you will be taught all the management subjects and within a year or two, depending on the MBA type, you will be proficient in understanding business and it’s major.
It is only in the last semester that you are asked to choose your specialization, which will give your professional life a direction. MBA will make you a master of business and once you have your degree in hand, you will be adept with all the business fundamentals.
MBA has a wide scope with respect to its syllabus while MSc is precise and specific. However, the scope of master’s in international business is also wide and lucrative.
The Decision
The course you should choose for yourself would depend upon various factors. Before you pick up your degree course, try to answer a few questions that will help you take a better decision, such as:
- Which degree yields better career prospects given the current business trend?
- Which of the two degrees is going to get you a higher pay check?
- Which of the two degrees will help you churn out as a better individual with a shining personality?
The degree that you choose for yourself also depends upon your personal interests and life situations. If you are from a business-minded family and want to start your own venture in the future, MBA would be the best course for you. However, if you want to pursue a career in one specific field without any change, MSc in International Management or any other branch of specialization would suit you.
Also Read: Making the most of your MBA
Furthermore, there are a few points we would like to highlight about each course that may help you make the right decision:
- MSc is, basically, a course for fresh graduates who are keen on taking up a particular specialization for their career. Experienced professionals do not opt for MSc, they go for professional executive MBA degrees that suit their stature.
- To pursue MSc in a particular field, it is compulsory that the undergraduate degree is pursued in the same or similar kind of a branch. For MBA, this is not the requirement. Even a person from the science background can apply for MBA degree.
- For MSc, there is no need of any prior work experience. However, prior work experience is considered an added benefit while applying for an MBA degree.
Program Structure of Both MBA & M.Sc. in International Business
Two programs with a similar opportunity to work in a high-energy, international economy, yet both study and prepare for a career in a distinctly different manner, both present. Learning about both can make your decision about which path could best serve your objectives a little less complicated.
Let’s dive in and explore both programs’ structures and determine what sets them apart.
MBA in International Business: All-Round, Management Orientation
An MBA lasts two years, and students go through four semesters. The course is designed to instill both general management skills and specific information regarding the way in which business is transacted globally.
The First Term: Building a Sound Business Foundation
In this semester, you’ll typically take courses like:
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Global Business Ethics:
Learn about ethical considerations and frameworks for responsible behavior in a global environment.
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Organizational Behavior:
Understand and comprehend why and how groups and individuals respond in a work environment, a consideration when working with cross-cultural groups
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Business Communication:
Enhance your communication skills to effectively manage both your internal and external business relations.
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Principles of Accounting:
Learn about financial reporting and analysis fundamentals, which are useful when dealing with worldwide financial operations.
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Business Environment:
Acquaintance with macroeconomics driving business at a global level, including political, economic, and social environments
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Essentials of Management:
Learn about managing organizations’ fundamentals, such as operations and leadership.
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Personality Building:
Personal development constitutes a high proportion of leadership training, and hence, this course helps in developing your personality and skills to become an effective leader.
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Disaster Management:
This study is about managing risk, specifically in operations in a foreign country, in which political and geographical factors and natural disasters can affect operations.
These courses not only teach you about the fundamentals of business operations but also lay a platform for enjoying an awareness of worldwide dynamics that will shape your career path in an international business manager role.
The Second Semester: Sailing Deeper into Business Functions
Courses in the second semester will cover:
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Marketing Management:
Learn about managing marketing in multicultural, multinational environments, and gain an awareness of marketing strategies effective in transnational settings
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Financial Management:
Study financial management at a global level, with an awareness of managing a corporation’s financials when dealing with worldwide markets and currencies.
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Human Resource Management:
In studying this module, students learn about managing global groups, such as working with cultural differences and conflicting labor laws.
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Operations Management:
Get to know the ins and outs of a corporation’s supply chain and operations in a worldwide environment.
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International Business Law:
Study legal considerations in transacting with international counterparts, such as trading laws and safeguarding intellectual property.
This semester continues to build your background in business and introduces additional specific skills that will serve you well in working in the international business environment.
The Third Semester: Global Perspective
Key courses sometimes include:
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International Marketing:
In this lesson, students study creating marketing campaigns for a range of cultural settings. What will work in one country will not work in another, and for that reason, awareness of cultures is key.
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Global Financial Management:
Study in greater detail financial management at a global level, including worldwide capital and foreign exchange markets.
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Cross-Cultural Management:
Cross-cultural management and diversity in terms of cultures in groups is important, particularly in multinational companies.
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International Trade and Logistics:
Learn about global trading customs, including shipping merchandise between nations, laws governing shipping abroad, and global logistics operations.
By the end of this semester, you will have a sound understanding of how to apply your skills in business management in a worldwide business environment.
The Fourth Semester: Practising and Specialising
Here’s what’s in store for you during this semester:
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Strategic Management in a Global Setting:
Acquiring skills in creating business strategies in a global environment with regard to competition, politics, and demand in the marketplace
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Capstone Project or Thesis:
Most likely, you will have to complete a significant project or thesis that brings together everything that you have learned and applies it to a real-life issue in an international scenario.
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Electives:
MBA students have an option to specialize in any one of a range of subjects, including Digital Marketing, Supply Chain Management, Project Management, and Human Resource Management.
This final semester allows students to work in an environment that best utilizes their strengths and graduate with career-related, focused expertise that best complements career objectives.
M.Sc. in International Business: An Analytic, Specialty Program
An M.Sc. is more academic, with a high orientation towards planning, theory, and research in international business. It is best for students interested in studying in detail the inner workings of international business and specializing in a specific part of international commerce.
Core Modules: Immersion in Fundamentals
In the first year of the M.Sc., students will undertake a progression of compulsory modules that will expose them to the realities of life in the international business environment. Examples include:
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International Trade and Finance:
Learn how international trade works and the role of financial institutions in global commerce.
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Cross-Cultural Management:
In this module, students will study managing a workforce with a range of cultures and creating effective cross-border groups.
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Global Marketing:
Learn to develop marketing strategies that can be applied in many countries worldwide.
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International Business Strategy:
Acquire skills in creating effective thinking in creating successful business strategies for multinational companies
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International Law and Ethics:
Study international laws applicable to international business, including trading laws, commercial laws, and ethics in business.
These core modules form the backbone of the M.Sc. and give students a sound understanding of international business both in practice and theory.
Specialization Tracks: Tailoring your studies
What sets apart the M.Sc. is that one can specialize in areas one is most interested in. What distinguishes such a qualification is that one can specialize in areas one is most interested in.
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Global Supply Chain Management:
Analyze the complex dynamics of goods and service flow between nations
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International Finance:
With a focus on financial markets, exchange rates, and international banking networks
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Emerging Markets:
Get a glimpse of opportunity and challenge in working in developing economies in full swing
Each specialization helps one gain deeper expertise in a specific field, offering one a competitive edge in a growing competitive job marketplace globally.
Experiential Learning: Learning through Action
While the academic standards for an M.Sc. are stringent, experiential learning is emphasized in most programs, too.
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Case studies:
Real cases in international business enable students to use theoretical information in real-life international business scenarios.
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Simulations:
Business simulations enable students to make real-life, real-time, and real-consequence decisions in a virtual environment, with immediate feedback and repercussions for their actions.
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Internships:
Most M.Sc. courses have internships with multinational companies, providing students with an opportunity to implement what they have acquired in actual environments.
Some programs even feature study abroad experiences, through which you can become immersed in a range of cultures and develop a firsthand familiarity with global markets.
Research Element: Wider Information
A significant part of the M.Sc. involves research work. During the final year, students will typically conduct a dissertation or a research project in which students can explore a field of international business in detail. Through research, students gain analysis skills and contribute to a field with new information and approaches.
Job Opportunities after MBA & M. Sc. in International Business
One of the most exciting aspects of earning an MBA or an M.Sc. in International Business is having an enormous variety of career options to opt for afterward. Despite both programs culminating in lucrative career options in international business, career options and types of jobs can differ with regard to the theme of the degree.
Career Paths for MBA Grads
Graduates of an MBA in International Business enter leadership and management roles in multinational, large companies. With a general orientation in worldwide markets and general management, they become most in demand in a range of industries, including marketing, finance, consultancy, and operations. Some of the most significant career choices include:
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International Marketing Manager:
MBA students often go on to become international marketers, developing and implementing strategies for marketing products in many countries.
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Global Supply Chain Manager:
In charge of managing processes and logistics in a variety of countries, transporting goods in a cost-effective and efficient manner.
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Business Development Manager:
Identifying new opportunities in a marketplace and developing a corporation’s presence globally.
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Management Consultant:
Offering consultation to companies that will expand abroad and improve operations globally.
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Financial Analyst:
Examining financial information in order to enable companies to make sound investments in worldwide investments and enter a new marketplace.
Salaries for students in an MBA can range between $70,000 and $120,000 per annum, with salaries according to position and location.
Career Paths for M.Sc. Graduates
M.Sc. graduates, with a deeper level of expertise, can then move into research, planning, and consultancy, with a deeper level of awareness about working in international business. Some of the most in-demand career options include:
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International Business Manager:
Coordinate multinational companies’ operations and international operations.
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Global Marketing Director:
In charge of marketing for international markets.
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International Trade Specialist:
Mediating in worldwide trading operations and compliance with international laws and legislation.
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Management Consultant:
Consulting with companies regarding expansion abroad and cross-border affairs.
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Financial Analysts:
Analyze financial markets and work with global investments.
Salaries for an M.Sc. graduate range between $60,000 and $100,000 per annum, with variation in terms of industry and expertise.
Both the degrees have their own pros and cons. depending upon your interests and professional goals, you can take a call about which degree is better for you. For instance, if you wish to become a business-savvy professional, you can go for an MBA degree and later specialise in the field you want to work in.
The business syllabus in both the courses are largely the same, only the teaching pattern may be different. In some countries, it is only the name game. Like, in the countries like UK and Europe, you will be offered courses like PGDM and MSc, while in the US, you will find more MBA and MA courses.
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