Business consultants, international trade analysts, and import-export coordinators are just some of the international business professionals that allow New Jersey’s $36.8 billion in global exports to thrive. That figure was reported by the US Department of Commerce in 2014, and represents one of the highest amounts of export revenue of all states in the nation.
In fact, according to the US Department of Labor New Jersey ranks nationally among several categories of international business professionals:
- Marketing Managers – New Jersey offers the second-highest average salary, and has the third highest amount of professionals in this field from all states in the nation
- Wholesale and Retail Buyers – New Jersey offers the second-highest average salary for these professionals
- Financial Managers – New Jersey offers the third-highest average salary for these professionals
- Sales Managers – New Jersey offer the third-highest average annual salary for these professionals
Located adjacent to the nation’s economic, financial, and commercial center, New Jersey’s international business professionals work in the larger fields of global trade, business, and international relations. They have some overlap with international relations professionals, however this latter group is focused on global activities that involve humanitarian, political, security, and socio-economic issues.
For example, international business professionals – especially global commodities traders – play an important role in securing contracts for New Jersey’s top-five global export products:
- Chemicals – $8.63 billion
- Computer and electronic products – $4.57 billion
- Petroleum and coal products – $3.45 billion
- Primary metal manufactures – $2.70 billion
- Miscellaneous manufactures – $2.54 billion
As a whole international business, trade, and exports are regulated federally and by the New Jersey Department of State, which is in charge of initiatives like the New Jersey State Trade and Export Program (NJSTEP) and the International Business Development and Protocol division. New Jersey manages these programs because it recognizes the importance of attracting qualified international business professionals to the state. The US Department of Commerce reported that in 2014 New Jersey exports supported 165,695 jobs.
Earning a Degree in International Business
New Jersey is home to a number of well-respected, competitive colleges and universities with degree programs in the field of international business. These are offered in traditional formats on campus, with many programs being additionally available online.
Graduating with a degree in international business can open the door for careers with titles like:
- Trade Analyst – these professionals study global markets to make economic predictions and reports based on multiple variables, which ultimately determine trading sales.
- International Economist – these business professionals study global, national, or niche economies to assess strengths and weaknesses, providing reports to New Jersey’s business and government leaders
- Import/Export Compliance Specialist – these professionals ensure national as well as international laws are upheld during the global exchange of imports and exports
Bachelor’s Degree Programs in International Business
New Jersey Schools offer a variety of types of bachelor’s programs which include BS as well as BA degrees:
- Bachelor of Science (BS) in International Business
- Bachelor of Science (BS) in Business Administration with a major in International Business
- Bachelor of Science (BS) in Business with a major in Global Management
- Bachelor in Business Administration (BBA) in International Business
- Bachelor of Arts (BA) in International Economics
Taken after completion of general undergraduate requirements, the upper-division core courses that are part of a bachelor’s degree program can include:
- Business law
- Business statistics
- Economics and accounting
- Foreign language for business
- International economics and finance
- Supply chain management
- Global marketing
- Business, government, and society
- International market relations
Graduates with a bachelor’s degree can pursue jobs like:
- Public relations specialist
- International financial manager
- Advertising associate
- Supply chain professional
- Financial controller
- International management analyst
- Business development associate
Master’s Degree Programs in International Business
Having a master’s degree in the field of international business can open up more advanced promotional and career opportunities. Prospective master’s students can start by considering the entrance requirements for the graduate school they choose.
Each school has its own entrance qualification requirements, which can typically include:
- Undergraduate degree, which may also need to be in the field of business, economics, or international studies
- Minimum GPA, often a 3.0
- Minimum score on the GRE or GMAT
- Prior work experience in the field of business
- Letters of personal ambitions and academic intent
- Letters of recommendation
There are several different types of graduate degree programs in the field of international business. These include:
- Master of Business Administration (MBA) in International Business
- Master of Science in International Management (MIM)
- Master of Science (MS) in International Business
Core courses that are part of the the curricula of these programs include:
- Marketing management
- Global investment management
- International finance law
- International mergers and acquisitions
- Multinational corporation management
- Global intellectual property legislation
- Industry privatization and deregulation
- International business policy
- Cross cultural management
In addition to core international business courses, master’s programs may also offer particular areas in which students can specialize. These are for students who are interested in gaining a niche specialization, with areas of focus that can include:
- International Business Relations
- International Environment Law
- International Economic Policy and Theory
- Global Security
- International Trade
New Jersey graduates who have earned their master’s degree in the field of international business have gone on to pursue careers like:
- Global business consultant
- Global relations specialist
- Professor of international business
- International finance consultant
- International trade analyst
- Global supply manager
New Jersey’s Impact on Global Trade and Commerce
With a Gross State Product of $561 billion, eighth in the nation, that is larger than many countries, New Jersey has a major impact on international business. According to the US Department of Commerce, in 2014 the state’s largest export markets were:
- Canada – $6.93 billion
- Mexico – $2.66 billion
- United Kingdom – $2.11 billion
- Netherlands – $2.00 billion
- Japan – 1.70 billion
State Office of International Business Development and Protocol
Part of the state’s Department of Commerce, this office employs international business advocates to help companies – both New Jersey companies interested in exporting, as well as foreign companies interested in making investments in New Jersey – navigate hurdles like:
- Import/export rules
- International trade law
- Joint venture projects
- Strategic alliances
International Business Jobs in New Jersey
The following examples were taken from a sampling of job vacancies posted throughout New Jersey in June of 2015. These are provided as illustrative examples only:
Director of Security for Global Events with the NBA in Secaucus – this professional is responsible for ensuring the security for NBA staff and events in emerging markets abroad. Duties include venue analysis, internal investigations, and liaisons with foreign counterparts. Applicants must have at least a bachelor’s degree and are preferred to have a master’s degree.
Trade Analyst with Maersk Line in Florham Park – this professional is responsible for ensuring a consistent trade yield optimization by working with the company’s Region Trade and Marketing team. Candidates must have at least a bachelor’s degree plus three years of experience in shipping trade, sales, marketing, or management.
International Product Manager with the Musculoskeletal Transplant Foundation in Edison – this professional works with the company’s vice president and development department to monitor the foundation’s overall product strategy. The incumbent must also work closely with international marketing partners and distributors. Applicants must have at least a bachelor’s degree in International Business or Marketing.
New Jersey’s International Business Resources
Aspiring international business professionals can find helpful resources located throughout New Jersey:
State Government Agencies
- New Jersey Department of Agriculture’s Export Development
- New Jersey Business Portal’s International Trade and Investment
- New Jersey Department of State, including divisions like:
Private and Professional Organizations