Texas-based companies along with multinational and multi-domestic corporations with operations in the state have been responsible for making Texas the leading exporter to foreign markets every year since 2001. In FY 2014 alone, these businesses exported roughly $288 billion in goods and services, the highest annual total of any state in U.S. history.
In Texas, large corporations and small businesses alike are responsible for driving international trade and global business initiatives. According to the Us Department of Labor, businesses with 500 or more employees accounted for roughly 65% of the state’s exports in FY 2013, while 38,735 businesses with 500 employees or fewer accounted for the difference.
Just some of the multinationals headquartered in Texas are shown here along with the annual revenue they generated in FY 2013:
- Exxon Mobil Corporation, $394 billion
- Valero Energy Corporation, $138 billion
- AT&T Inc., $132 billion
- 7-Eleven, Inc., $84.8 billion
- Dell Inc., $56.9 billion
- Shell Oil Company, $2.1 billion
As global enterprises in Texas continue to help the state merge with the global economy, businesses are increasingly reliant on skilled trade analysts, international business development directors, import/export compliance officers and many other specialists with a global perspective on business.
Earning the Right Degree for a Career in International Business
Texas is home to some of the nation’s most respected business schools that house international business departments. Undergraduate and graduate programs in international business equip aspiring and advancing professionals with a deep understanding of business fundamentals while promoting a global perspective on business.
To accommodate busy schedules, many schools offer online programs or blended programs that combine online studies with classroom based instruction.
International business majors in Texas often go to pursue jobs as:
- International trade and customs managers
- International economists
- International management analysts
- Financial controllers for multinational/multi-domestic corporations
- Multinational managers, directors and executives
- Wholesale buyers
- International accountants
- Supply chain managers and logisticians
Bachelor’s Degrees in International Business
Bachelor’s degrees in international business provide a foundation of fundamental business skills within the framework of global trade and commerce. Through coursework in areas such as global trade regulations, sustainable worldwide business practices, and international marketing, these programs prepare students with an understanding of the unique global business opportunities of the 21st century.
Bachelor’s degrees available to international business majors in Texas include, but are not limited to:
- Bachelor of Arts in (BA) International Economics and Finance
- Bachelor of Science (BS) in International Business
- Bachelor of Science (BS) in Business with a Global Management Concentration
- Bachelor in Business Administration (BBA) in International Business
- Bachelor of Science (BS) in Business Administration with an International Business Focus
Course titles within these programs may include:
- China’s Economic Performance and Reforms
- Global Business Strategy
- International Monetary Relations
- Global Human Resources & Organizational Behavior
- Logistics in the Global Economy
- Applications of Statistics in Business
- Concepts of Community
- Global Employment Relations
- Business & the Entrepreneurial Mindset
- Corporate Social Responsibility
- Business law
- International Economics
Master’s Degrees in International Business
Graduate-prepared international business professionals are among today’s most sought after global business experts. Accordingly, admission to these programs can be selective. The following are among the qualifications schools often consider when reviewing applications:
- An undergraduate degree that includes coursework in areas such as statistics, finance, or a foreign language
- A 3.0 GPA or higher during undergraduate studies
- Past experience in the business field, often up to four years.
- Strong scores on the GRE and GMAT exams
Master’s degree options available to international business majors in Texas include, but are not limited to:
- Master of Arts (MA) in International Relations and Diplomacy
- Master of Science in International Management (MIM)
- Master of Business Administration (MBA) in International Business (MBA)
- Master of Science (MS) in International Business
Many master’s degree programs allow students to choose a concentration and prepare for specific career tracks through specialized coursework. This allows graduate students to develop skills specific to the most relevant and high-demand areas of international business. Examples of concentrations available to international business graduate students include:
- Development Economics
- Human Security/Comparative Politics
- International Environment and Resource Policy
- International Information and Communication
- International Monetary Theory and Policy
- International Negotiation and Conflict Resolution
- International Organizations
- International Trade and Commercial Policies
- Law and Development
- Pacific Asia
- Public International Law
International Business Jobs in Texas
In FY 2014, Texas’ top exports included petroleum and coal products ($59.1 billion), computer and electronic products ($46.6 billion), chemicals ($46.1 billion), machinery ($29.8 billion), and transportation equipment ($23.2 billion). Business professionals from diverse backgrounds oversee every aspect of global trade and commerce, some of which include:
- International marketing managers help companies sell their products to foreign markets by identifying cultural differences and capitalizing on emerging trends.
- International economists analyze financial trends in global markets, including the growth of sales to individual countries.
- Import/export coordinators make logistical and legal arrangements with regard to the shipping and arrival of goods, often through communication with overseas coordinators.
- Wholesale buyers purchase finished goods, raw materials, parts and components from around the world at bulk discounts.
Texas-based corporations collaborate with businesses in nearly every significant international market. In FY 2014, the state’s top export destinations included:
- Mexico, $102.6 billion
- Canada, $31.1 billion
- Brazil, $11.8 billion
- China, $11 billion
- The Netherlands, $8.9 billion
Texas is home to a high concentration of international business professionals, not only because of the volume of global trade and commerce that takes place in the state, but also because of the high salaries the state’s global companies offer.
Average annual salaries in Texas for a number of key international business job classifications are shown here (US Department of Labor, 2014):
- International Marketing Managers – $140,680
- International Sales Managers – $137,090
- International Financial Managers – $134,590
- Global Purchasing Managers – $126,220
- International Economists – $117,140
- Global Advertising and Promotions Managers – $100,050
Resources for International Business Students and Professionals in Texas
To ensure Texas remains a leader in international business, a number of governmental departments and nonprofit/private organizations in the state conduct initiatives to drive global trade and business efforts. These groups include, but are not limited to:
- District Export Councils of Texas
- Office of the Governor, Economic Development
- International Trade Center, Institute for Economic Development
- Texas Wide Open for Business
Nonprofit and Private