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What is Masters in International Business?
Master of International Business is a 2-year postgraduate degree course and anybody with a under-graduate degree can take up this course. The International Business courses included in this course are foreign languages, trade finance & forex risk management, foreign trade policy and export management, making this program truly unique and raising it to the level of international status.
The subjects that are taught during this course include Management Concepts and Organisational Behaviour, International Marketing, Business Statistics, e-Commerce , International human resource management,etc
Students who have passed graduation with a minimum of 50% marks in any stream from a recognized college/university are eligible for this course. A relaxation of around 5% is provided to backward caste candidates. Final-year Graduates are also eligible to apply.
See More: MIB Colleges
Almost all the top business institutes in the country admit students based on entrance examinations like CAT and XAT. There will also be a round of counseling held after qualifying for the entrance examinations.
There are several public and private institutions that offer this course. The average course fee for the program is around INR 40,000 in public institutes and around 14,00,000 in private business colleges.
The Career opportunities for MIB graduates are huge in the industry sector after pursuing the course. Graduates are usually employed in international trade and business, apart from running a business in export and import.
The average salary for MIB degree holders is expected to range from INR 5,00,000 to 15,00,000 per annum depending on experience and expertise.
Master in International Business Course Highlights
| Master in International Business Course level | Postgraduate |
| Full Form | Masters in International Business |
| Duration | 2 years |
| Eligibility | 50% marks in the Bachelor of Commerce undergraduate degree or equivalent qualification |
| Admission Process | CAT/XAT/GMAT/CMAT |
| Average Annual Fees | INR 60,000– 15,00,000 |
| Subjects | Management Concepts and Organisational Behaviour , International Marketing , Business Statistics , e-Commerce , International human resource management |
| Average Annual Salary | INR 5,00,000 to 15,00,000 |
| Recruiting companies | TATAs, Mahindra Group, Aditya Birla Group |
| Job profiles | Investment Banker, Global Business Manager, International Marketing Manager, International Finance Manager etc. |
MIB Admission Process
Admission to the course is done based on the score obtained by a candidate in an entrance exam.
- Some of the major all India entrance exams conducted for this purpose are CAT, MAT, XAT, CMAT etc.
- Some colleges also offer admission on merit basis. Usually, the admission process commences from the month of August and September.
- Online forms for almost every entrance exam are available by the end of August.
Merit-based admission
- Submit the application to the colleges or universities you are interested in for admission.
- Perform well in the undergraduate examinations as the scores obtained in these form the basis of the entire admission process.
- Colleges release their cutoff lists in due course of time. Check if you are eligible for admission into the desired course.
- If eligible, visit the college and submit all the required documents.
Entrance based admission
- Submit the application to the colleges or universities you are interested in for admission.
- Register for the entrance exams you will be required to qualify in order to make it the college of your choice.
- In order to get shortlisted for further rounds of admission, one must score above the minimum qualifying percentile set by the respective college or university.
- After the written test, special group discussion and personal interview rounds are conducted for preparing the final merit list of shortlisted candidates.
- Once all the tests are conducted, the colleges or universities declare the result and release a merit list of finally shortlisted candidates on the basis of the written test, group discussion and personal interview.
- After the admission process, the final allotment of seats to the candidates take place and the candidate is required to deposit the course fee and register for the respective academic year.
MIB Eligibility Criteria
The eligibility criteria for Master of International Business aspirants is not complicated and is as follows. It must be noted that the eligibility criteria will differ from institute to institute.
- The candidate must possess a bachelor degree in any relevant discipline from a recognized college or university.
- One must have an aggregate of minimum 50% marks in their graduation to be eligible for this course.
- The candidate must have a valid score in the required entrance exam.
- Work experience is not mandatory but is highly preferred.
Top MIB Entrance Exams
There are many national and state-level entrance exams to appear for the admission into the MIB program.
Some of the top entrance exams conducted in order to shortlist students for admission into this course are given below.
-
CAT: CAT or Common Admission Test is an online test conducted every year by IIMs in order to shortlist students for providing admission into various management degree and diploma programs. The test score is widely accepted by many top colleges across the country. The exam is conducted annually.
-
MAT: MAT or Management Aptitude Test is a national level exam conducted four times in a year. All India Management Association (AIMA) conducts the exam for admission into MBA/PGDM courses across the country.
-
CMAT: CMAT or Common Management Admission Test is an online computer-based test. It is conducted by the National Testing Agency, India. The test is conducted to shortlist students for admission into AICTE approved postgraduate management programs.
The dates of application and examination for the above-mentioned examinations are mentioned in the table below.
| Entrance Exam | Entrance Mode | Application Period | Exam Date |
|---|---|---|---|
| CAT | Online | To be announced | To be announced |
| MAT | Remote Proctored IBT | To be announced | To be announced |
| CMAT | Online | To be announced | To be announced |
| XAT | Online | To be announced | To be announced |
How to prepare for a Master in International Business Entrance Examinations?
To help the registered candidates prepare better and efficiently for the entrance examinations taken up by them, the following pointers can be referred to.
- Prepare an achievable timetable for studying. Include all topics from every subject and stick to the timetable. This will make sure that the entire syllabus is covered at least once. Allocate and dedicate time daily to studies.
- Be clear with the basics. A strong understanding of the basics is very important for advanced topics later on.
- Practice, practice and more practice. Business entrance examinations are all about practice. Take mock exams and attempt as many as sample question papers as possible.
- Allocate time everyday separately for the more difficult and complex topics. Don’t hesitate to approach a teacher or a tutor.
- Interact with toppers and know the secret to their success.
How to get Admission in a Good Masters in International Business College?
To secure admission into a top-ranked MIB college, a number of factors come into play. Some of the them are mentioned below -
- Be aware of the different types of questions and the difficulty level of those questions asked in all the different entrance exams the candidate is appearing in. Some papers can be comparatively easier to attempt than the other difficult ones.
- Since questions are based on Quantitative and verbal reasoning, going over those material and notes would be sufficient.
- Preparation for the relevant sections and practice past papers.
- Be aware of all dates and deadlines and make sure that you do not miss any. Keep track of any Examination application dates, exam date changes.
- Read the daily news and affairs of the world regularly. Keeping up to date with the news will not only help in preparation for the exam and counseling round but also act as an informative break from studying.
Master in International Business Syllabus
The subjects taught in the MIB program are almost similar in most of the business colleges. The syllabus for the entire MIB course is as follows.
| Semester I | Semester II |
|---|---|
| Management Concepts and Organisational Behaviour | Operations Research for Business Decision |
| Business Statistics | Managerial Finance |
| Economics for Manager | International Marketing |
| Accounting for decision making | International marketing research |
| International business environment | Computer application in business |
| Semester III | Semester IV |
| International Management | Global strategic management |
| e-Commerce | Cross-Cultural Consumer and Industrial Buyer Behaviour |
| International Financial Management | International human resource management |
| Foreign language for business I | Foreign business in business II |
| Training report | Project report |
Top Masters in International Business Colleges
The table below shows the best MIB colleges and universities that offer the course in a full-time mode.
| College/ University Name | Average Annual Fees |
|---|---|
| Department of Commerce, University of Delhi, New Delhi | INR 15,696 |
| Jamia Millia Islamia, New Delhi | INR 67,240 |
| IMS Noida | INR 2,08,000 |
| Chandigarh University, Chandigarh | INR 3,94,000 |
| Jaipuria Institute of Management, Noida | INR 16,090 |
| Seshadripuram College, Bangalore | INR 36,000 |
| JRNRVU, Udaipur | INR 65,000 |
| IMII, Noida | INR 16,000 |
| IME, Ghaziabad | INR 1,90,000 |
MIB College Comparison
The tabulation below depicts the comparison made between top two MIB Colleges in India:
| Parameters | Department of Commerce, University of Delhi | JMI, New Delhi |
|---|---|---|
|
About College |
Department of Commerce functions under Delhi School of Economics (DSE) which is an academic constituent of Delhi University. It was formally established in 1967 offers PG and Doctoral level programs in Management and Commerce streams. |
JMI offers UG, PG, and Doctoral programs in the fields of Arts, Science, Commerce, Hospitality, Technology, Management, Architecture, Education, and Polytechnic. |
|
Eligibility Criteria |
Candidates must hold a Bachelor’s degree in relevant discipline from a recognized university |
Candidates must hold a Bachelor’s degree in relevant discipline from a recognized university |
|
Average Annual Fees |
INR 15,696 |
INR 67,240 |
|
Average Annual Salary |
INR 4,00,000 to 6,00,000 |
INR 3,00,000 to 5,00,000 |
|
Top Recruiters |
McKinsey & Company, Boston Consulting Group, Bain & Company, Merrill Lynch & Co, Deloitte Consulting LLP, Lehman Brothers etc. |
JP Morgan Chase & Co, Goldman, Sachs & Co, Citi, Booz & Company, Accenture, Johnson & Johnson, Credit Suisse, Deutsche Bank, Morgan Stanley, UBS, Bank of America, Microsoft Corporation etc. |
Course Comparison
MBA vs MIB
Both MIB and MBA are master’s level business courses, however, there are some differences between them.
Also check top MBA Colleges here
The course comparison between MIB and MBA course is as follows:
| Parameters | Master in International Business | Master in Business Administration |
|---|---|---|
| Duration | 2 years | 2 years |
| Focus Area | The program mainly focuses on strategic planning for international operations and also provides an in-depth understanding of the various organizational capabilities required for international operations. | The program mainly focuses on strategic planning , Corporate finance ,Marketing , Operations and Entrepreneurship. |
| Admission Criteria | Entrance-Based | Entrance-Based |
| Eligibility Criteria | Candidates should have passed graduation with a minimum of 50% marks in any stream from a recognised college/university | Candidates should have passed graduation with a minimum of 50% marks in any stream from a recognised college/university |
| Average Annual Fees | INR 46,000 – 1,40,000 | INR 9,00,000 - 14,00,000 |
| Job opportunities | Research & Educational Institutes, Finance Sector, Marketing Areas, Trade Companies, Banking Sector etc. | Banking, Finance, Telecom, Events, Sports, Branding & Advertising, Digital Marketing, Foreign Trade, Human Resource Management, Marketing, etc. |
| Areas of Employment | Oil & Petroleum Industry, Food Industry, Textiles Industry, Cement Industry, Healthcare Industry | Oil & Petroleum Industry, Food Industry, Textiles Industry, Fertilizers Industry, Paper and Pulp Industry, Rubber Industry |
| Average Annual Salary | INR 7 LPA | INR 10.45 LPA |
Future Scopes of Master in International Business
Apart from seeking jobs, yet another option available to students is to pursue higher education. Some higher education options available to students are given below:
-
MBA: A large number of business postgraduates prefer going for the management route by choosing to pursue a PGDM or MBA course. Admissions are offered through a national level entrance test.
Check out top MBA Colleges and PGDM Colleges in India.
-
Competitive examinations: Another route that graduates can go for is to prepare for competitive examinations. Examinations that are meant for job opportunities in Government sector organizations are most popular. Jobs in this sector are secure with assured high pay and regular increments.
Master in International Business Job Prospects and Career Options
Lucrative placement opportunities are available to all the candidates pursuing MIB to build their careers in International Business management programs.
Types of companies that recruit MBAs in International Business are mentioned below as follows :
It is not true that only International Job profiles are offered to MBA in International Business. Since MBA IB covers all core courses of MBA such as Marketing, Finance and HR, they are employed for regular MBA Jobs, same as a typical B-school.
International Job profiles are offered to MBA IB , as the name suggests.Some of the top recruiters are mentioned as follows-
- Top Indian Companies like the TATAs and Aditya Birla Group which have global footprints are always on the lookout for managers to manage overseas operations .
- Global Companies & MNCs, those who recruit Indian MBAs for their domestic and international operations.
- Export and Trading Houses in India that deal specifically in International Trade.
Some of the popular jobs of MIB degree holders are mentioned below with their average salary packages.
| Job Position | Job Description | Annual Annual Salary |
|---|---|---|
| Business Development Manager | Business Development Manager is responsible to identify sales leads and pitch goods or services to new customers and maintain a decent working relationship with new customers. | INR 5,00,000 - 6,00,000 |
| International Business Developer | A Business Developer is responsible to increase a company's profits by attracting new clients and by enhancing the speed of existing customers. | INR 8,00,000 - 9,00,000 |
| Business Development Specialist | Business Development Specialists are in charge of developing effective business plans for their organization. | INR 3,00,000 to 4,00,000 |
| Business Development Executive | Business Development Executive is responsible to assist their organizations to acquire new clients and sell extra products or services to existing ones. | INR 2,00,000 to 3,00,000 |
MIB FAQs
Ques:. Can I do a Master in International Business after 30 years of work experience but without a UG degree?
Ans. NO, a UG degree is an eligibility criteria for candidates aiming for MIB course
Ques. How difficult is CAT?
Ans. Although the questions themselves aren’t very tough, it is the time given to questions and the negative marking which makes the exam challenging and difficult to crack.
Ques. How many Symbiosis colleges offer Masters in International Business?
Ans. There is only one college.Symbiosis Institute of International Pune offers MIB and its admissions are done through an entrance exam called SNAP.
Ques. Who administers MAT exams?
Ans. MAT is conducted by All India Management Association and the same body administers the exam.
Ques. Is GMAT compulsory for a Master in International Business course?
Ans. No, GMAT is not actually compulsory for MIB. There are many colleges which accept GMAT scores and many which do not and it depends on the institute the candidate prefers to join.
Ques. What is the marking scheme of CAT?
Ans. 3 marks are awarded for a correct answer, 1/3rd negative marking for every wrong MCQs only. No marks are deducted from non MCQ questions.
Ques. Are calculators allowed inside the CAT exam hall?
Ans. No , Calculators are not allowed inside the CAT exam hall.
Ques. Which should I take up a Master in International Business or MBA?
Ans. It depends entirely on your interest and needs. Master in International Business is like a specialisation in MBA, if you wish to settle abroad or be related to international business then this should be your choice.
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