As a global center of commerce, finance, and international trade, there is no more important place to be for international business professionals than New York. It comes as no surprise that New York is home to some of the highest paid international business professionals in the nation for a number of occupational classifications (US Department of Labor, 2014):
- International Financial Analysts – New York offers the highest average salary and is home to the largest number of international financial analysts in the nation
- International Marketing Managers – New York offers the highest average salary and is home to the second-largest number of international marketing managers in the nation
- Global Finance Managers – New York offers the highest average salary and is home to the second-largest number of global finance managers in the nation
- International Sales Manager – New York offers the highest average salary in the nation to international sales managers
- International Wholesale and Retail Buyers – New York offers the third-highest average salary and is home to the second largest number of wholesale and retail buyers in the nation
- International Market Research Analysts and Marketing Specialists – New York is home to the second-largest number of international market research analysts and marketing specialists in the nation
- Norwich University Online - Master of Arts in International Relations Program - Online. Choose from 5 concentrations: International Security, National Security, International Development, Cyber Diplomacy, Regions of the World. NO GRE/ GMAT required.
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New York-based companies, as well as multinational and multi-domestic corporations with operations in the state, are among the world’s leaders when it comes to contributing to international trade and commerce. The following figures are taken from a report released by the US Department of Commerce in 2015:
- As of 2015, New York’s international exporting operations supported nearly 390,000 jobs in the state
- As of 2013, more than 40,000 New York companies were involved in exporting products and services to foreign markets
- In 2014 alone, $86 billion worth of services and merchandise were exported from New York to foreign markets
- As of 2012, more than 405,000 New York state residents were employed by foreign-controlled companies
Earning the Right Degree for a Career in International Business
New York is home to some of the most respected international business schools in the world, and is the ideal environment for undergrads and graduate students alike to develop a global perspective on business.
Colleges and universities in New York offer distance learning and conventional on-site programs in international business, and often give students the opportunity to pursue immersive study abroad programs.
Bachelor’s Degree Programs in International Business
New York’s colleges and universities allow international business majors to choose from a number of areas of focus for their undergraduate studies, some of which include:
- Bachelor in Business Administration (BBA) in International Business
- Bachelor of Arts (BA) in International Economics
- Bachelor of Science (BS) in International Business
- Bachelor of Science (BS) in Business Administration with an emphasis on International Business
- Bachelor of Science (BS) in Business with a Global Management Concentration
As part of their core education, students will study topics that include:
- Business processes and supply chain management
- Emerging markets
- International economics and finance
- Principles of management
- Organizational behavior
- Business, government, and society
- Business statistics
- Business law and ethics
- International HR management
International business majors in New York with a four-year degree often go on to accept jobs as:
- International Financial Officer
- International Supply Chain Analyst
- International Management Analyst
- International Business Consultant
- International Economist
- Distribution Manager
- Import/Export Coordinator
The following job description was taken from a survey of job postings in New York conducted in July of 2015. This example is provided for illustrative purposes only and does not constitute a job offer:
Senior Manager of International OptBlue Analytics with American Express in New York City – Candidates for this position must have skills in management and analysis. This position will involve working with the company’s Global Merchant Services network, which develops and maintains relationships with merchants throughout the world who accept Amex.
Candidates are required to have a bachelor’s degree, while preference is shown to those with a master’s degree.
Master’s Degree Programs in International Business
Earning a master’s degree in the field of international business can prepare graduates for careers in upper-level management and executive positions such as:
- International Trade and Customs Manager
- Multinational/ Multi-domestic Finance or Operations Officer
- Import/Export Compliance Specialist
- Global Trade Analyst
- Business Development Director
To get started in a graduate program, prospective students will need to research the specific entrance requirements for the graduate school of their choosing. Entrance requirements often include:
- Undergraduate degree in business, marketing, economics or a related major
- Minimum undergraduate GPA of 3.0
- Letters of recommendation
- Minimum score on the GRE or GMAT
- Prior experience working in the field of business
- Letters of reference
- Essay on personal and academic goals
Graduate schools in New York offer a range of options to international business majors, such as:
- Master of Science in International Management (MIM)
- Master of Business Administration (MBA) in International Business
- Master of Science (MS) in International Business
- Master of International Business (MIB)
- Master of Arts (MA) in International Relations and Diplomacy
As part of their degree program, students will have the opportunity to take courses like:
- Cross cultural management and global talent
- International entrepreneurship
- Economics and management of technology
- International business transactions
- Privatization and deregulation
- International financial law
- Managing mergers and acquisitions
- Global financial services
- Financing international projects
- Global investment management
- Marketing management
- International strategic analysis
Many master’s programs will also offer students the option to specialize by choosing a concentration in a particular area of international business, such as:
- International Business Relations
- International Environment Resources
- Public International Law
- International Monetary Theory and Policy
- International Information and Communication
- International Trade and Commercial Policies
- International Political Economy
- Business specialization within a particular geographic or political area:
- Southwest Asia and Islamic World
The following job descriptions were taken from a survey of job postings in New York conducted in July of 2015. These examples are provided for illustrative purposes only and do not constitute job offers:
International Economic Manager with the Federal Reserve Bank of New York in Manhattan – This professional is responsible for analyzing US markets, foreign markets, institutions, and infrastructures, and then preparing reports based on these analyses to shape the overall policy of the Federal Reserve.
Applicants must have strong academic training in the analysis of international economics, macroeconomics, and finance, as well as at least a master’s degree in Business Administration, Finance, Public Policy, or Economics.
Operations Consultant with the United Nations in New York – This professional will work closely with the management adviser team to tackle a range of corporate and institutional issues, such as interpretation of regulations, program policies, and operational policies, as they relate to the UN Development Program.
Applicants must have a master’s degree in Management, Public Policies, Public Administration, or Law.
New York as the Center of Global Trade and Commerce
With a Gross State Product of $1.35 trillion in 2015, New York State has a larger economy that most countries, including Mexico, Indonesia, Switzerland, and Saudi Arabia according to the International Monetary Fund. International business professionals play a vital role in furthering New York’s role in the global economy.
The US Department of Commerce calculated that last year New York’s top five international trade partners were:
- Canada – Imported $14.28 billion in goods and services from New York
- Hong Kong – Imported $10.79 billion in goods and services from New York
- Switzerland – Imported $9.07 billion in goods and services from New York
- Israel – Imported $6.37 billion in goods and services from New York
- United Kingdom – Imported $6.23 in goods and services from New York
Global NY – New York state government recently launched the Global NY initiative was recently launched with the goal of becoming the one-stop shop for local businesses and international companies involved in international trade and commerce:
Exports – This initiative provides information and grants to New York businesses regarding international trade shows and expositions. Global NY also operates seven offices in strategic global locations to more easily facilitate trade deals.
Foreign Investments – This initiative promotes the advantages associated with investing in operations in New York for foreign-based corporations. Among these advantages are a highly educated workforce, a government that supports competitive research and development, low taxes, an advanced transportation infrastructure, and an admirable quality of life.
New York District Export Council – This private non-profit organization exists to help small-to-medium-sized businesses reach the global marketplace competitively. It acts as the interlocutor between local business and product demand in foreign countries by bringing together international business professionals and local business owners. Some resources this organization provides include:
- Article database that covers relevant trade topics
- Market research
- Instructions about how to export
- Seminars and trade events featuring keynote speakers
- Links to other professional organizations
- Information about credit insurance, trade financing, cargo insurance, and other important practicalities
Organizations in New York Dedicated to Promoting and Facilitating International Trade and Commerce
Aspiring international business professionals can find useful resources throughout the State of New York, with organizations such as:
- Global NY
- Empire State Development International Division
- Greater Rochester Regional Economic Development, International Trade
Professional and Private Organizations