Whether you should choose business administration or international business as a major totally depends on you. If you love traveling, exploring new places, meet with new people then international business will be the right major for you. On the other hand, if you love doing administrative works, like to make decisions, and lead your fellow workers then Business Administration will be the best major for you.
Key Takeaways
- Business Administration is a very popular major among business students that offers in-depth knowledge of various business operations
- Business Administration major includes accounting, marketing, finance, etc.
- International Business helps the students develop various skills that are required to do business in markets around the world
- International Business major includes business law, financial accounting, organizational behavior, global supply chain management, etc.
- The salary of a Business Administration major ranges from $31,962 – $92,586 per year
- The salary of an International Business major ranges from $51,000 – $150,000 per year
What Is Business Administration?
Business administration is a common degree for business students that are designed to provide in-depth knowledge of a wide range of topics related to business operations. After completing the business administration degree a student will understand how a business is managed. The main mission of this degree is to cover all the topics related to a business including accounting, marketing, finance, etc. So this course lays the basic foundation for education in business administration principles. The knowledge you gather from this course will help you understand the dynamics of company operations. The course objectives of a business administration major are –
1. Develop strategic plans using different marketing information
2. Understand the role of information technology systems to support the business operations
3. Learn how to solve organizational problems using human resources and management principles
4. Understand how to use data tools to collect information related to a business
5. Learn how to use the information to make key operational decisions
6. Learn to apply critical thinking concepts
7. Develop the ability to apply financial management principles to ensure sustainability
Business Administration Career Prospects
Nowadays, you might see fewer job listings under the business administration category but it’s not the actual real-world scenario. It doesn’t mean that there isn’t a demand for employees with a business administration major/degree, in fact, it’s the opposite. According to the Bureau of Labor Statistics, the average growth of the financial operations industry is at 5%. So a proper business administration degree will prepare you for a career in a variety of fields in above-average growth. You can find business administration in finance, accounting, business management, marketing, health care management, etc. Below are some careers that you can pursue with a business administration degree –
1. Management Analysts: 10% growth
2. Appraisers and Assessors of Real Estate: 3% growth
3. Fundraisers: 14% growth
4. Personal Financial Advisors: 4% growth
5. Market Research Analyst: 17% growth
Business Administration Salaries
Salary plays a very important role while deciding which is a good major or what degree we should get. So let’s see some career opportunities of a business administration degree holder with an expected salary.
| Career | Expected Salary (Yearly) |
| Personal finance advisor | $90,640 |
| Financial Analyst | $84,300 |
| Management Analyst | $82,450 |
| Budget analyst | $75,240 |
| Logisticians | $74,590 |
| Insurance underwriter | $69,760 |
| Accountant and auditor | $69,350 |
| Market research analyst | $63,230 |
| Fundraiser | $55,640 |
| Appraisers and Assessors of Real Estate | $54,010 |
Business Administration Career Option
After completing the business administration degree a person will find a wide range of career options ahead of him. Below are the most demandable and well-paying careers for the business administration degree holder –
1. Market Research Analyst
2. Sales Manager
3. Management Analyst
4. Human Resources Specialist
5. Marketing Manager
6. Operations Research Analyst
7. Budget Analyst
8. Financial Analyst
What Is International Business?
The main aim of the International Business major is to help the students develop the skills to do business in markets around the world. While studying international business students will learn the ins and outs of multinational companies and how they operate a business in different countries around the world. Students will adapt the business concepts of other countries including the financial system, sociopolitical trends, legal and economic systems, etc. On many occasions, an international business student might require to study abroad as part of the degree program. This will be a great learning option as the students can gain greater cultural awareness and expand their networks. The course objectives of an international business major are –
1. Learn how social and political factors influence global business
2. Gain skill and knowledge on how to manage the various risks of international business
3. Gather knowledge about foreign exchange markets including their participants, size, functions, trends, etc.
4. Learn how different custom and culture has a different impact on a business
5. Understand the basic differences between the risks of domestic companies and international companies
International Business Career Prospects
The globalization of business industries has increased the demand for international business graduates all around the world. Every day a new position is creating for business graduates with international business as a major. So if you want to build a career in international business then you have to remember that the majority of global roles prefer or require an advanced degree. A study from Burning Glass Labor Insight, showed 57 percent of employers prefer or looking for an international business degree holder for their multinational companies. So it’s quite clear that an international business major has great career prospects. Below are some career options that you can pursue with an international business degree –
1. International Management Analyst: 14% growth
2. International Marketing Manager: 10% growth
3. Business Executive: 8% growth
4. Human Resources Manager: 9% growth
5. Financial Analyst: 11% growth
6. Economist: 6% growth
7. International Policy Analyst: 12% growth
International Business Salaries
Below are some popular career opportunities for international business degree holders with an expected salary.
| Career | Expected Salary (Yearly) |
| International Marketing Manager | $97,709 |
| International Product Manager | $94,732 |
| Finance Analyst | $90,821 |
| International Business Development Manager | $84,910 |
| Research Analyst | $81,590 |
| Logistics Manager | $86,100 |
| International Supply Chain Manager | $114,636 |
| Human Resources Manager | $105,554 |
| Business Analytics Manager | $83,772 |
| International Brand Manager | $122,712 |
International Business Career Option
Nowadays, international business is one of the best majors for business students. A major in international business opens doors for students to build a career in multinational corporations, international banks, international trading companies, etc. So the international business major not just teaches the students about doing business in different countries but makes them experts to solve any kind of problems and getting the work done. So before you decide to take international business as a major for your degree, you should check the available career options. Career options for International Business major are –
1. International Marketing Manager
2. International Product Manager
3. Finance Analyst
4. International Business Development Manager
5. Research Analyst
6. Logistics Manager
7. International Supply Chain Manager
8. Human Resources Manager
9. Business Analytics Manager
10. International Brand Manager
Business Administration VS International Business – The Winner
If you analyze the above information then it’s quite clear that international business has more advantages than business administration as a major. But that doesn’t mean that you have to choose international business as your major. So which is the best and right major for you depends on the career path you aspire to. If you love to explore new places and don’t mind a significant amount of traveling to different countries around the world then international business is the appropriate major for you. However, if you aren’t ok with adapting to different country cultures as well as not comfortable meeting with new people then choose business administration as the major and international business as the minor. Finally, it’s you, who have to decide which major is best for your future career!
References:
1. https://en.wikipedia.org/wiki/Business_administration
2. https://courses.lumenlearning.com/suny-internationalbusiness/chapter/reading-what-is-international-business/
Last Updated on October 2, 2022 by Magalie D.
Magalie D. is a Diploma holder in Public Administration & Management from McGill University of Canada. She shares management tips here in MGTBlog when she has nothing to do and gets some free time after working in a multinational company at Toronto.
