As the global market expands, those with international business knowledge will be in demand.
International Business at a Glance
As U.S. firms expand their business abroad, many will hire international business experts to help them explore and successfully access global markets. Graduates of the International Business program are prepared to work in a wide variety of roles, including as management analysts or market research analysts.
A Bachelor’s degree is the typical entry-level requirement for the position of management analyst. These professionals routinely attend conferences to stay current on developments within their field. Employers also require a Bachelor’s degree when hiring market research analysts. Courses in statistics, research methods, and marketing will likely benefit those entering this field.
Typical Tasks Performed
Management analysts and management consultants propose ways to improve an organization's efficiency. Some job responsibilities include:
- Gather and organize information about the problem to be solved
- Analyze financial and other data, including revenue, expenditure, and employment reports
- Develop solutions or alternative practices
- Recommend new systems, procedures, or organizational changes
Market research analysts study market conditions to examine potential sales of a product or service. Some job responsibilities include:
- Monitor and forecast marketing and sales trends
- Measure the effectiveness of marketing programs and strategies
- Devise and evaluate methods for collecting data, such as surveys and questionnaires
- Gather data about consumers, competitors, and market conditions
Outlook for Employment
Employment of management analysts is projected to grow 14 percent through 2024, much faster than the average for all occupations. Growth of international business will contribute to an expected increase in demand for management analysts.
Industries That Employed the Most Management Analysts in 2014:
- Management, scientific, and technical consulting services – 22%
- Finance and insurance – 10%
- Federal government – 8%
- State and local government, excluding education and hospitals – 7%
- Management of companies and enterprises– 5%
Employment of market research analysts is projected to grow 19 percent through 2024, much faster than the average for all occupations. Employment growth will be driven by an increased use of data and market research across all industries.
The industries that employed the most market research analysts in 2012 were as follows:
- Finance and insurance – 10%
- Management, scientific, and technical consulting services – 10%
- Wholesale trade – 10%
- Management of companies and enterprises – 8%
- Manufacturing – 8%
Please note that these are national statistics and projections that might vary by location.
Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2016-17 Edition http://www.bls.gov/ooh/business-and-financial/management-analysts.htm#tab-1 and http://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm#tab-1