Some labor analysts predict that jobs for international business will increase as new trade partnerships start and current economic trade blocs grow. Nearly all nations in the world are associated with one or more economic partnerships. Some of the most famous alliances are the European Union, the North American Free Trade Agreement and the economic group comprised of Brazil, Russia, India, China and South Africa. As these nations come together to forge economic ties that are financially beneficial for all members of their groups, business professionals who develop skill sets in key areas will see more career opportunities in international business emerge. Here are five popular jobs within today’s global business environment.
#1 Global Financial Manager
Financial managers are responsible for the overall fiscal health of private corporations, government agencies and non-profit companies. These managers oversee cash management activities that ensure that their organizations have enough liquid assets available for daily operations. Financial managers are also knowledgeable about various investment instruments, and they generate investment strategies that promote company growth. Financial managers for international businesses and multinational corporations perform all of these functions within the context of foreign trade regulations and economic policies. Although many people would consider these financial management positions to be highly stressful, U.S. News and World Report recently ranked the role of financial manager as one of the top 10 best jobs because of its high salaries, perceived job satisfaction and projected job growth.
Related: What is a Global MBA?
#2 International Marketing Manager
Businesses employ marketing managers to promote their brands and grow their market share. Many of these companies want to take advantage of the growing wealth in emerging markets overseas. For instance, China’s upper-class consumers and India’s burgeoning middle-class customers belong to demographic groups that are highly attractive to some companies. To effectively connect with those prospective customers, companies hire marketing managers who can craft market penetration strategies that are customized for targeted regions. International marketing managers are also responsible for recommending product and packaging modifications that are designed to enhance corporate brands in overseas markets.
#3 International Management Consultant
International management consultants assess the operations and business processes of firms to highlight areas where organizations can improve. These consultants work with company division managers and executives to recommend improvements that increase productivity, quality and cost efficiencies. This job has a median annual salary of $81,320 and includes extensive international travel.
#4 Foreign Policy Advisor
Foreign policy advisors evaluate governmental regulations that relate to socioeconomic issues, and they make recommendations for improvements. While most foreign policy advisors work for governmental agencies, some of them find employment with non-profit organizations that promote special interests to governments through lobbying efforts. These international business professionals usually have many years of experience in specialty areas such as economics, health care, education, science and even social work. .
#5 Interpreters
Trade agreements among various countries are in place, but the language barrier among the nations is an ever-present hurdle in the global business environment that has not yet been completely overcome by technology. The services of interpreters are regularly needed for international business conferences and government meetings. There is a shortage of business professionals who have foreign language skills, and these business people can often find work with the state department or private, multinational corporations.
Conclusion
Engaging staff and empowering employees to work more productively are some of the most prominent challenges that international and multinational businesses will face in the future according to research done by the Hay Group’s management consulting team. Subsequently, jobs for international business in human resource management may also increase in the near future.
