 Is an international business degree worth it? That's what we're going to be talking about today, but before we do that, make sure to gently tap the like button in order to defeat the evil YouTube algorithm. On this channel, we talk about personal finance, college degrees, careers, opportunities that can lead you to success, as well as talking about avoiding some of the common traps that so many people fall for. If that sounds like something that interests you and you haven't done it already, go ahead, hit the subscribe button and ring the notification bell so that you never miss a video. Now everybody knows that business is becoming more and more international. Economic barriers are disappearing, and especially with the onset of the internet and the digital age, there's just more and more opportunities when it comes to international business. The problem is, is there are still a ton of barriers when it comes to doing business internationally. Language and distance are probably the first two most obvious ones, but there's a ton of other barriers as well. You've got culture, you've got laws. Some countries aren't as stable as other countries. Some countries' economies are booming, and then other countries have economies that aren't doing very well. Some countries are extremely open to people coming in and doing business there. Other countries don't want any foreigners doing business at all. Each individual country is going to be a unique situation, and so therefore they're going to need a unique solution. So a lot of the time within a company, you'll have someone who specializes in a specific country. So they'll understand the culture, the language, the laws, etc., everything they need to know about that country. There's some careers where you'll spend quite a bit of time in the country itself as well. So if you're somebody who really likes to travel a lot, there's certain countries that you really want to be in, this might be a really good degree for you. So a lot of the time you will be representing your company, your entire organization, to the leaders of whatever company that you are visiting. So not only will getting an international business help you solve complex problems, but you're also going to be networking with people who are owners of other businesses. This will help you to make a lasting impression, as well as advancing yourself professionally. And in our growing economy, more and more companies are moving towards having an international office where they have people that can interact with just about any nation, any culture around the world. And we're definitely going to get into some of those careers that you can get into with this degree. But first, I just want to say that around 5,600 people graduate with an international business degree every single year. That's not that much. So I think this one is going to be a pretty big opportunity right now, as well as in the future. So first, we're going to talk about four different categories that I think are really important when it comes to a degree. We're going to be talking about the salary, satisfaction, demand, and then X factors. We're going to rank each category, and then at the very end, we're going to give it a final total score. International business degree graduates are going to make around $50,000 a year in their first five years starting out, and then their mid-career pay, which is defined as 10 years, and after, they're going to be making around $96,000 a year. So of course, the salary is going to be different depending on what career you go into. Some of them are going to pay higher than others. So I'm going to go ahead and bring up just a few of them that you might do on here, and the first one is going to be a management analyst. So management analysts, in really simple terms, they look at a corporation, they assess how efficient it is, the management structure in the corporation, and they figure out how they can make it better. Now doing this for global companies is going to take a keen awareness of how the culture of that particular country and that particular company works. And this is one of those business roles that international business degree graduates end up finding themselves in, and it makes a lot of sense because they're used to finding ways to improve an organization's efficiency. And that's especially going to be true when it comes to an international organization where you're going to have people working for you in different countries. Now management analysts are also referred to as management consultants sometimes, and they're going to analyze different things like finances, revenue, and different types of data that they can use to improve the workflow of whatever business they're working on. So in some cases, you might be a consultant for a company that works with other companies. And so whenever a company reaches out to your company, and let's say they have an issue with a company in Mexico, for instance, maybe you are the consultant for Mexican business, and you can tell them everything they need to know about that. You work with them for a few weeks, maybe a month, and then you're going to move on to working with another company. Now they're going to make around $85,000 a year. There's 876,000 jobs available, and it's growing at 11%, which is much faster than average. Next on the list is going to be marketing managers. Now marketing managers are of course going to be in charge of a company's marketing. And this is another one that really makes sense with an international business degree, because the way you market to one country is going to be completely different than the way you market to another. You're going to have to analyze that country's needs. You're going to have to understand the cultural sensitivity, and you're basically just going to have to understand the nuance of that culture. On top of that, you're going to have to figure out different pricing strategies for different countries. Here in the US, we live in what's known as a consumer culture, where people pretty much spend money relatively freely, whereas in a lot of countries, they only spend money on things that they consider to be needs. They very rarely will spend money on entertainment. So you're going to have to be aware of this. You're going to have to figure out how to price your products in such a way where they're willing to buy them. In some cases, you'll be assessing the need for a new product or service. Is this market ready for that? Is this country a country that might be interested in the product that you're offering? You're also just going to have to be aware of global marketing trends in general. So a marketing manager is going to make around $135,000 a year. There's 314,000 jobs available, and it's growing at 6%, which is much faster than average. Next on the list for potential careers that you could work in would be financial analysts. So global financial analysts in general are going to work at the rewards and the risks for doing business in certain parts of the world. This is going to be in the context of the social, economic, and political differences in those countries. A lot of the time, financial analysts are going to be focusing on patterns that they're recognizing in different industries and different countries, and also as well as different businesses. Now on top of that, financial analysts are going to be assessing the performance of bonds, stocks, and other types of investments. Now as investing becomes more international, a lot of the time these companies are looking at people who can be specialists in different countries and sometimes even different regions within a country. They want analysts that can understand the background, the country, the region, the culture, etc. Now financial analysts make around $81,000 a year. There's 487,000 jobs available, and it's growing at 5%, which is faster than average. Now I won't get into this one very much because this would be later on in your career, but you can become an executive that specializes in the branch of a company that is dedicated to a different country. Now executives are going to make around $104,000 a year, there's 2.7 million jobs available, and it's growing at 4%, which is about average. Another one I won't get into too much is you could become a human resource manager that specializes in the culture of a different country. Human resource managers can make $116,000 a year, there's 165,000 jobs available, and it's growing at 6%, which is faster than average. So all things being equal, I'm going to go ahead and give this degree a score of nine when it comes to salary. It's a really solid option. There's a lot of opportunities out there right now, and I predict a lot more opportunities in the future. Next we're going to get into job satisfaction or just satisfaction in general with this degree. Now the thing about satisfaction is it's pretty much completely subjective. One person might love being in a desk job, they just love having, you know, being in an air conditioned place where they're just working on their computer all day long, and that might be the literal definition of hell for another person. They want to be outside, camping, being active. But you can say overall that there are some things that significantly contribute to job satisfaction. One of those things, in my opinion, is going to be a sense of meaning. And by that, I mean how much is the job that you're doing positively impacting the rest of the world? Now according to PayScale, the meaning of these different careers can go as low as about 39% and as high as 74%. Overall, business degrees in general do tend to have lower meaning scores. So I would say this is about average for a business degree, but overall I'd say it's a little bit lower than average. However, if you look at those same careers on the satisfaction side of things, over 70% of them tend to say that they're highly satisfied with their job. So it might not be a job that brings them a lot of meaning, however, overall they're pretty satisfied with it. And again, this can be completely subjective. If you go into this degree and then you're somebody who doesn't want to travel and then all of a sudden they say, hey, you're going to be traveling like half the days out of the year, then of course you're going to be miserable. If you go into it and you know exactly what you're getting yourself into, you've talked to people who are in these different careers and you make a really good plan for yourself, then this could be a 10 out of 10. But overall, business degrees in general have a slightly lower job satisfaction than a lot of the other careers out there, especially health careers, for instance. So I'm going to go ahead and give this one a seven. Next on the list, we're going to talk about something that has a huge impact on satisfaction. In fact, it might be the most important factor on any of them. And that's going to be demand. So we'll talk about the careers that we already talked about here. Management analysts, for instance, have about 876,000 jobs available and they're growing at 11%, which is excellent. For marketing managers, there's 314,000 jobs available and they're growing at 6%, which again is pretty good. Financial analysts have more than 487,000 jobs and they're growing at 5%, which is faster than average. Executives, there's 2.7 million jobs available and it's growing at 4%, which is at least average. And human resource managers, there are 165,000 jobs available and it's growing at 6%, which is faster than average. So in my research, pretty much all the jobs that I saw that international business graduates tend to go into, a lot of them are doing really, really well. They're growing faster than average. There's not an insane amount of careers out there, like you see with some of the health careers that's growing at 31% or something like that, but overall it's pretty good. I'm gonna go ahead and give this one a demand score of 7.5. Next, we're gonna talk about X factors. So one thing about business degrees in general, and this is especially true with an international business degree, is that a lot of them are pretty future proof. So what you're planning on going into, business in general, I don't think they're ever going to be replaced. It's not going to be automated or replaced or anything like that. If your job does get replaced, there's just going to be a job that opens up right above you. There's never gonna be a time where robots are making business decisions for companies, for instance. There's never gonna be a robot who understands the cultural nuance of another country. These are all things that are going to have to be done by humans, and this is especially true when it comes to an international business degree and the skills that it's going to teach you. Now on top of that, business related degrees in general tend to be ones where you end up making a lot of money. Even if the salaries from the careers themselves are about the same as some of the other ones and maybe the technology industry or health, for instance, business degrees tend to make more money, and there's a few reasons for that. One, I think business degrees and the skills you learn from just about any business degree are applicable to real life. You're going to learn how to budget, save, finance, et cetera. These are all things that a lot of people don't learn until they're in their 30s, sometimes they're 40s. If you can learn this at a young age in your 20s or even your teens sometimes, you're just going to have a huge advantage. I did the video on the careers that create the most millionaires and business degrees were basically all over that video. I think they were either six or seven out of the top 10 degrees. And there's a reason for that. Not only are you going into careers where you're making really good money, but you're also probably saving and investing at a younger age. Now on top of that, a lot of the time business degrees are going to go get some experience in whatever industry they're in, and they're eventually going to recognize an opportunity for them to start their own business. And that's where the magic really happens. If you're able to identify a unique opportunity within your industry, that you are uniquely positioned in order to take advantage of, good things are probably going to happen there. So yeah, I think this one's good right now. I think it might be even better in the future. Overall, I'm going to give this one an X factor score of 8.5 out of 10. So the pros to this one, great salaries overall in the careers that you tend to go into. A lot of career growth, career opportunities, opportunity to travel, if that's a pro for you, there's going to be a lot of careers out there that will have you traveling quite a bit. This one also makes a good double major if you want to consider going into something and then double majoring in this, and then maybe you'll be able to get a career outside of the country in a specific country that you want to live in. Now of course, there's going to be a lot of stress to this. That's going to be one of the cons. A lot of these positions that I mentioned are going to be management type positions. So you're going to be working 60 hours a week a lot of the time. It's going to be pretty stressful. You're going to have long working hours a lot of the time. And then a lot of the time you're going to be required to travel. Now again, this could be a pro or a con depending on who you are, but that means that you'll likely have to spend a lot of time away from your family. Overall score, we're going to give this one an 8 out of 10. This is a really solid degree, a really good option. 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