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Masters in International Business or MIB is a 2-year post graduate program that develops skills and resources to run a global business successfully. It develops candidates' capabilities and accelerates their career in the international business environment.
The basic eligibility criteria to pursue MIB course requires a candidate to have cleared their graduation with a minimum of 50% aggregate in any stream or equivalent CGPA from a recognized university. Admissions to MIB courses are done on the basis of Management Entrance Exams such as CAT, XAT, SNAP, MAT and GMAT. Some of the top Masters in International Business colleges include IIM Calcutta, Jamia Milia Islamia and IIMT Dehradoon.
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The average course fees ranges from INR 7,00,000 – 16,00,000. After completing the course, candidates are placed across various job profiles such as Investment Banker, Global Business Manager and International Finance Manager with an average salary of INR 10 LPA – 18 LPA.
Master of International Business: Course Highlights
| Duration | 2 years |
| Eligibility | 50% marks in the Bachelor of Commerce undergraduate degree or equivalent qualification |
| Admission process | Entrance Exams |
| Course Fee (INR) | 7,00,000 – 16,00,000 |
| Average Salary (INR) | 10 LPA – 18 LPA |
| Top Recruiting Companies | Abbot, Ernst & Young, HCL, Bharti Airtel, Citi Bank, RBS, Reckitt Benckiser |
| Job Positions | Investment Banker, Global Business Manager, International Marketing Manager, International Finance Manager |
What is Masters in International Business?
MIB is a postgraduate degree course in International Business that prepares individuals to serve as managers.
- The course duration is 2-years divided into 4 semesters that can be pursued either full-time or part-time through correspondence or distance education, depending on student’s preference
- Master in International Business focuses on strategic planning for international operations and provides an in-depth understanding of the organizational capabilities required for international operations, including specialized functions such as international marketing, finance and human resource management. Master's in international business degrees also include classes that address topics such as imports and exports and intercultural communication.
- MIB focuses on the identification and management of challenges arising from planning, controlling and coordinating business activities on an international scale.
- The MIB courses such as foreign languages, trade finance & forex risk management, foreign trade policy and export management, make this program truly unique and raise it to the level of international status.
Why Study?
Students can choose MIB due to its following advantages as listed below.
- The program equips students with practical business knowledge with a focus on an international and cross-cultural understanding of the marketplace
- Students can deepen their knowledge in areas ranging from humanitarian issues to security to corporate finance while expanding regional expertise
- Candidates can find jobs in automobile companies, electronics and computer companies, consumer durables manufacturers and FMCG companies and Banks and securities firms, import/export companies, consulting businesses, Travel and tourism and hospitality sector, Foreign Direct Investment and economic development agencies
- The course is uniquely positioned to develop a student’s contextual intelligence by honing the ability to recognize the impact of politics, law, culture, and society on the world of business
Masters in International Business Admission Process
Admissions to MIB courses are solely done through management entrance exmas such as CAT, XAT, SNAP and MAT. Discussed below are the admission process along with the basic eligibility criteria and entrance exams schedule for your reference.
Eligibility
Minimum eligibility criteria for Masters in International Business is:
- The candidate must clear their graduation with a minimum of 50% aggregate in any stream or equivalent CGPA from a recognized university
- Candidates belonging to reserved category are given a relaxation of 5%
- Candidates must appear in one or more of the following entrance examinations : CAT/ XAT/ GMAT/MAT/CMAT
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Entrance Exams
| Entrance Exam | Registration Deadlines | Exam Dates |
|---|---|---|
| CAT | August 3 – September 21, 2023 | November 26, 2023 |
| CMAT | 2nd week of March 2024 (Onwards) | 1st week of May 2024 |
| NMAT | August 1 – October 12, 2023 | October 10 – December 19, 2023 |
| SNAP | August 23 – November 23, 2023 |
Test 1: December 10, 2023 Test 2: December 17, 2023 Test 3: December 22, 2023 |
| XAT | July 15 – November 30, 2023 | January 7, 2024 |
Tips for Entrance Exams
- CAT/ XAT/ GMAT/MAT/CMAT entrance test usually consists of sections like logical reasoning, quants, and general knowledge including current affairs
- For scoring in current affairs, reading the newspaper daily would help you prepare for this section in the best way. The habit of reading the newspaper daily will also help you at the time of personal interview and group discussions
- Candidates should practice solving problems related to the above topics either from books or online
- Candidates should solve previous years’ papers to get a knack of paper pattern.
- Candidates while solving previous years’ papers solve them in a timed manner so that they get a practice to solve it in time.
MIB Syllabus
A detailed Master in International Business syllabus is mentioned below:
| Semester I | Semester II |
|---|---|
| Management Concepts and Organizational Behavior | Accounting for Managerial Decisions |
| Business Environment | Computer Application in Business |
| Managerial Economics | Foreign Trade Policy |
| Statistical Analysis | International Business Environment |
| Financial and Cost Accounting | International Marketing |
| Marketing Management | International Marketing Research |
| Financial Management | Foreign Languages1 |
| Semester III | Semester IV |
| Operations Research | Strategic Management |
| International Logistics | Thrust Products and Markets |
| Foreign Languages 2 | International Management |
| Services Marketing and Customer Relationship Management | Internet and Web Designing |
| E-Commerce | International Business Laws and Taxation |
| Export-Import Procedure & Documentation | International Finance |
| Training Report & Presentation | Project Report and Viva-Voice |
Important Books
Important books for this course are:
| Book | Author |
|---|---|
| MBA Fundamentals International Business Paperback | Rajesh Lyer |
| Leading with Cultural Intelligence: The Real Secret to Success | Paul Polman |
| Global Tilt: Leading Your Business Through the Great Economic Power Shift | Inge Thulin |
| The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing | Michael J. Mauboussin |
Master in International Business Course Comparison
MIB is Master in International Business and MBA is Masters of Business Administration. Both these courses have their own specializations and subjects. Below are the major points of difference in them:
| Parameters | MIB | MBA |
|---|---|---|
| Domain | International Business | Business Administration |
| Objective | It focuses on strategic planning for international operations | It is more focused on developing business and technical knowledge among students |
| Examination type | Semester | Semester/Trimester |
| Admission process | Entrance exam | Entrance Exam |
| Specialization | None | Marketing, Finance, Operations, Human Resources |
| Average Fees | INR 7,00,000 – 16,00,000 | INR 6,00,000 – 19,00,000 |
| Average Placement Package | INR 10 LPA | INR 15 LPA |
| Job Opportunities | Investment Banker, Global Business Manager, International Marketing Manager, International Finance Manager | Marketing manager, Financial manager, Human resources manager, Nonprofit director, Operations manager |
Top Colleges in India
Some of the top Master in International Business colleges in India are described in the table below:
| College Name | City | Average Course Fees |
|---|---|---|
| RVS College of Arts and Science | Coimbatore | INR 22,000 |
| Jai Narayan Vyas University | Jodhpur | INR 20,000 |
| International Maritime Academy | Chennai | INR 1,60,000 |
| University of Rajasthan | Rajasthan | INR 16,090 |
| The Indian Institute of Business Management & Studies | Mumbai | INR 40,800 |
| IMS | Noida | INR 2,08,000 |
| Janardan Rai Nagar Rajasthan | Udaipur | INR 56,000 |
| Dr GR Damodaran College of Science | Coimbatore | INR 1,00,000 |
| Department of Commerce, University of Delhi | Delhi | INR 15,696 |
Master in International Business College Comparison
Below table shows some of the major differences between top MIB colleges in India:
| Parameter | Department of Commerce | Jamia Millia Islamia | University of Kota |
|---|---|---|---|
| Overview | The Department has the legitimate claim and pride of being the premier institution in India for course curriculum development, teaching and researches in Commerce discipline | Jamia Millia Islamia strives to provide excellent teaching to our students and develop in each of them personal attributes critical to effective integration in today's global marketplace | The University of Kota offers a number of Undergraduate, Postgraduate, M.Phil. and Ph.D. courses under a plethora of specializations. |
| Location | New Delhi | New Delhi | Rajasthan |
| Rank | 11 – NIRF | 34 - NIRF | 78 - NIRF |
| Annual Fees | INR 9,000/- | INR 33,170/- | INR 12,000/- |
| Average Package | INR 9.5 LPA | INR 7 LPA | INR 5 LPA |
| Placement Companies | Hero MotoCorp, Bajaj Finserv, Oppo, Vardhman Group, Darashaw, GTPW, Oppo, Maruti Suzuki | APL, Jindan Exports, Siemens, Maersk Logistics, American Express Bank, Gallup India Pvt Ltd., HSBC | Genpact, ICICI Bank, SBI life |
How to get Admission in Top MIB Colleges?
Candidates should keep the following things in mind to get an admission in a good Master in International Business college:
- Candidates should perform exceptionally well in the entrance exams of CAT/ XAT/ GMAT/MAT/CMAT since they are shortlisted on the basis of the exams
- Candidates should develop a habit of reading newspapers in order to strengthen their general knowledge and current affairs acumen
- Candidates must be updated with the deadlines of filling the application forms of the entrance exams and colleges through websites, newspapers and magazines
- Practice previous years papers to improve your time management skills at the time of entrance exams
Master in International Business Jobs
Masters in International Business graduates have a vast opportunity in the present market. Career options after this course are immense. MIB degree holders are frequently required because of increasing globalization and the growing number of businesses that are at present competing on the international stage.
A student having a degree in MIB can be a part of private and government sectors. This specialization provides the great opportunity to work in a global market and across the world.
Some of the job options are mentioned below:
| Job Position | Job Description | Average Salary (INR) |
|---|---|---|
| Export Managers and Executives | In charge of finding international buyers for their product manufactures domestically | 7.80 LPA |
| International Business Consultant | To advise and assist a business in international deals | 12 LPA |
| International Finance Manager | Handling critical fronts of a business, like fundraising, risk minimization, understanding international trends and forecasting, etc. | 19 LPA |
| Global Business Manager | To ensure efficiency of the business overseas and the inflow of revenue is healthy and constant. He/she also ensure that the business remains in competition | 17 LPA |
| Investment Banker | Assisting the firm in financial transactions. To look at structuring an acquisition, merger, or sale for a client. The role also includes issuing securities for raising money for business and doing all the detailed paper work for it | 23 LPA |
| International Marketing Manager | Finding buyers and markets overseas; ensuring that the business is being run as per the latest market trends and developing products to satisfy consumer’s demand | 19 LPA |
Master in International Business Scope
Many candidates opt for further education like Ph.D and go ahead in the teaching line. PhD can be pursued by appearing in NET-UGC exam.
Phd in International Business: To pursue doctoral degree, a candidate must possess a post-graduation degree from a recognized university or college in the similar domain. Thereafter appear for the entrance exam of NET UGC or the respective university or institute that conducts Ph.D in International Business.
Master in International Business FAQs
Ques. What is the length of the course MIB?
Ans. The MIB is a course of 2 years of duration. This two year course is divided into semesters of six months. Hence there are 4 semesters.
Ques. How does the admission take place in the Master of International Business course?
Ans. For admission to MIB courses, most of the colleges consider the scores obtained in CAT/ XAT/ MAT/ CMAT. Post shortlisting the candidates through these entrance exams, the colleges conducts their own group discussions and personal interviews for the final selection of the candidates
Ques. What is the basic eligibility of the candidates to pursue Masters in International Business?
Ans. For gaining admission in a college for MIB course, the candidates should be a graduate with at least 50% aggregate marks.
Ques. What are the modes of taking up a MIB course?
Ans. Candidates can either take up a full-time MIB course from a college or a part-time distance education course. This is very helpful for working professionals as they can upgrade their skills along with working in corporate.
Ques. What are the job avenues after completing the MIB course?
Ans. There are several job opportunities after completing the MIB course. Some of them includes working as Investment Banker, Global Business Manager, International Marketing Manager, International Finance Manager
Ques. Can I grab an international opportunity after completing the Masters of International Business course?
Ans. Yes. There’s a lot of scope to grab an international opportunity after completing the MIB course. Since the course involves studying about global markets, and at a time of immense globalization, there are a lot of opportunities for the graduates.
Ques. What is the average package that a graduate can expect after this course?
Ans. The average package ranges from 5 LPA to 16 LPA.
Ques. What are some of the top colleges in India that offer MIB courses?
Ans. UPES, Dehradun, Christ University, Bangalore, BHU, Varanasi, Jamia Millia Islamia, New Delhi, IIFT Delhi are some of the top colleges that offer Master of International Business as a course.
Ques. What is the average fee for the course Master of International Business?
Ans. The fee ranges from INR 60,000-15 LPA depending on the college.
Ques. What are the skillsets required for the MIB course?
Ans. The skill sets required are:
- Business aptitude
- Excellent communication skills
- Leadership qualities
- Strong analytical skills
- Strong logical reasoning ability
- Ability to work in a team
- Ability to work under pressure
- Willingness to learn
- Interest in international trade
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