Master of Business Administration Foreign Trade is a postgraduate level professional course for candidates who choose to work for multinational companies. It is a course which helps students understand the basic concepts of management and foreign trade combined. The candidates are trained into learning the details of foreign resources and aspects related to the global economy as it is a globalised society in the current age.
The benefits of this course are that a person can continue this course on weekends and through open learning. Indian Institute of Commerce and Trade provides the distance learning program.
The candidates seeking admission to this course must have a bachelor’s degree of minimum 3 years duration and the admission process involves that the students must take an entrance test which tests the competence and aptitude of the candidate seeking admission.
In this globalised society, the demand for international business, international marketing and foreign trade has increased manifold. This demand not only involves the international relations with other nations but also affects the domestic markets of our country and in order to meet the demand, various sectors employ officials who are very well aware of the related aspects.
The course is an integrated specialization of the master of business administration program offered by a few institutes. The main objective of the course is to develop an understanding among the students about the various policies, aspects and intricacies of foreign trade and international business. This course is an amalgamation of management, trade, sales, marketing and aspects related to law and economics.
The students who are interested in a career that requires expertise in the matters of foreign trade and business should opt for this course. The prerequisites of this course include a good command over the English language, both spoken as well as written, as all correspondence throughout the course and after the completion of the course takes place in English. Also, any student who has good interpersonal skills, communication skills and a bent of mind for management, sales and marketing can opt for this course.
Although, the minimum eligibility does not make it mandatory for a candidate to have a deep knowledge about mathematics and statistical data but a candidate should be either acquainted with these, or should be ready for learning them during the course because the course requires a basic knowledge of economics, mathematics and statistics which are necessary for jobs as a marketing manager, trade consultant etc.
After completion of the course, the students can get jobs in both private as well as public sectors related to foreign trade, international marketing, sales and the areas of export and import. So, if a candidate is interested in getting a career in either of these, they should take this course.
The course is a postgraduate diploma/degree course (depending on the institute) and spans for two or four semesters. The Department of International Business, School of Management, Pondicherry University has the PGDM course structure which is of only one year, that is two semesters. The course also requires the students to undergo training after their completion of the first year. The distance learning course also spans for two years.
There are only a handful of institutes which offer this course. These are:
The minimum eligibility of the course is for a candidate to be a graduate in any discipline and must have a bachelor’s degree of any course which has a minimum duration of 3 years. The candidates seeking admission must also be aware of the current economic scenario of the country and its relations with the other nations through marketing. Some colleges ask for students with a minimum of 50% marks in aggregate in their undergraduate course.
The admission to the MBA program is through an entrance exam. Usually colleges and institutes select students based on a common entrance exam but there are various other institutes which hold their separate entrance exams.
The basic pattern of all the entrance exams is the same, the paper is a multiple choice objective type test in the English language and it tests the questions of the topics- General Knowledge and awareness, English Comprehension, Quantitative analysis and Logical reasoning.
Following are some leading management entrance exams in India-
The candidates who perform well in the written test which is in the English language, are selected for the second round where they are required to write an essay, participate in a group discussion and appear for a personal interview, after which they are finally enrolled in the B-school for the course which spans for 2 years spread over four semesters.
However, Indian Institute of Commerce and Trade enrolls students directly without any entrance exam. The application form for the same can be either obtained offline by sending a demand draft, or online. The admissions to Indian Institute of Commerce and Trade are open all through the year if the candidate fulfills the eligibility criteria.
The average salary of a graduate from an esteemed B-school with a degree of MBA Foreign Trade gets a package of around 6 to 12 lacs. Salary trend basically depends on job profiles one is working on and also on it depends on company too.
Following graph shows salary trend according to job profile-
Salary trend of MBA graduate depends very much on b school from which a student gets the degree. Apart from that there are certain other factors that affect the salary trend, such as- functional area, company valuation, job location etc.
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