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Business has historically ranked as one of the most sought-after degree and career paths in America, and according to a , it remains popular among the latest generation of college-bound students. For those seeking a fulfilling and financially rewarding career, an international business degree can open doors to a world of opportunities.

In this report, we shed light on the earning potential of international business degrees using alumni earnings data. Our analysis highlights the average earnings of graduates with bachelor's and master's degrees at one and four years after graduation. We also identify the colleges landing top-earnings spots and examine what these schools have in common with one another.

International Business Earnings by Degree Level

We began our analysis using data from the Integrated Postsecondary Education Data System () and the U.S. Department of Treasury (). We looked at median earnings for 2019 and 2020 graduates who were employed and not enrolled in a college program. All earnings have been adjusted for inflation to reflect their value in 2021 dollars.

For this report, we only considered colleges with at least 15 students who completed a degree in international business, according to the most recent data. It's important to note that the actual earnings of international business graduates can vary depending on several factors, which we'll explore in more detail later in this report.

Earnings Range for International Business Degree Holders

For bachelor's degree holders, the earnings range after one year can be vast. At one end of the spectrum, graduates from the University of Texas Rio Grande Valley reported earnings of just $26,470 in their first year after graduation. In contrast, graduates from Georgetown University earned $91,940 during the same period.

After four years, the earnings gap for bachelor's degree holders widens further. While graduates from the University of Puerto Rico - Humacao earned a mere $29,993, their counterparts at George Washington University commanded salaries of $101,930.

The earnings range for master's degree holders is equally diverse. One year after graduation, salaries ranged from $51,133 at Houston Baptist University to $176,454 at Duke University. 

Even after four years, the earnings gap for master's degree holders remains substantial. Hult International Business School graduates reported earnings of $59,245, while Duke University graduates earned a staggering $225,820. 

International Business Graduate Salary Progression

One of the most encouraging findings from the data is the upward trajectory of earnings. As international business graduates gain experience and advance in their careers, their salaries increase. This holds true for both bachelor's and master's degree holders, with salaries rising between the first and fourth year after graduation.

When looking at the progression of average earnings, we see that bachelor's degree holders can expect a significant 35% increase in their earnings within four years of graduating. Master's degree holders experience a slower rate of growth, but still see an 18% increase over the same period. 

Although bachelor's degree holders have a faster growth rate, master's degree holders earn, on average, 31% more in one year after graduating compared to what bachelor's degree holders earn in four years. This gap widens to 55% when comparing master's and bachelor's degree holders four years post-graduation.

Highest Earning Colleges for International Business Graduates

The top-earning institutions for bachelor's degree holders in international business one year post-graduation include the following:

• Georgetown

• Villanova

• Northeastern

• The University of South Carolina - Columbia

• Fordham University

These institutions are all notably east coast schools — located in Washington D.C., Pennsylvania, Massachusetts, South Carolina, and New York, respectively.

1-Year vs. 4-Year Earnings for Bachelor's Degree Holders

1-Year vs. 4-Year Earnings for Master's Degree Holders

The top-earning institutions for all other degree types and timelines also hold a majority east coast presence. The only outliers are the University of Wisconsin-Madison, Arizona State, Tulane, and Saint Louis University.

What About International Business Degrees That Are Online?

Out of the 15 top-earning institutions for international business graduates, four offer online options for degrees in international business or closely related fields:

• : MA in International Business and Policy (MA-IBP), that combines in-person modules with online courses.

• : Online BA in Business with a concentration in Global Leadership, as well as an Online BS in International Trade.

• : Online MS in International Business.

• : Online MBA in International Business.

Among institutions with above-average earnings, Southern New Hampshire University () and Louisiana State University () also offer online international business programs. While SNHU shows above-average earnings for bachelor's degree holders one year post-graduation, LSU shows the same for bachelor's degree holders after four years.

What Factors Influence Earnings in International Business?

There are several interrelated factors that can influence the salary of an international business graduate.

Industry Size and Role Variation

Certain sectors within international business may have higher earning potential due to the revenue of the industry and complexity of the role. Although not a proven measure of earnings, reports that the biggest global industries by revenue include oil and gas, life and health insurance, pension funds, and commercial real estate. Roles in also offer higher salaries because of their competitive nature and the specialized skills required.

Geographic Location

Regional economic conditions and cost of living also play a role in salary. Graduates working in major urban centers with a high concentration of international businesses and multinational corporations often in smaller cities or rural areas. However, the cost of living in these urban areas requires higher salaries to maintain a comparable standard of living.

Institutional Prestige and Research Activity

Graduates from prestigious universities with strong international business programs often benefit from a network of alumni working in top corporations worldwide and robust career services. For instance, that nearly 50% of their MBA graduates receive full-time jobs from internships obtained through school resources.

A notable trend is that 13 out of the 15 top-earning institutions are high- or very-high-research universities, classified as R1 or R2 by the Carnegie Classification of Institutions of Higher Education (). These institutions are renowned for their rigorous academic programs and strong research output, which may contribute to their graduates' success in the job market. However, this correlation does not imply causation, and further research is needed to understand the underlying factors.

Differences in Program Offerings and Chosen Career Paths

International business degree programs at both the bachelor's and master's levels offer diverse opportunities, influencing career trajectories and earning potential. For instance, bachelor's degree candidates in international business at the University of South Carolina - Columbia , with the option of spending up to two years in the Middle East, Asia, Europe, or Latin America, potentially leading to more career placements outside the U.S. 

Some programs and institutions emphasize social impact over financial gain. For example, the Middlebury Institute of International Studies, which ranks lower in master's earnings, is recognized as one of the Peace Corps' .

International Business Remains in High Demand

Whether studying online or on campus, the future looks promising for graduates with international business degrees. The Bureau of Labor Statistics () predicts significant job growth for financial analysts at 8%, management analysts at 10%, and market research analysts at a booming 13% between 2022 and 2032 — each exceeding the national average. 

These roles are accessible with just a bachelor's degree, but a master's degree may lead to higher starting salaries. Prospective students should explore specific program offerings, career paths, and regional economic factors to make informed decisions about their educational and professional journeys.

Methodology

To identify the colleges with the highest-earning international business alumni, we compared schools (with available IPEDS earning data) for graduates not enrolled in any college program, both one year and four years after graduation. We chose to look at both timelines to more accurately estimate alumni earnings at different career stages. We also limited the pool to schools with at least 15 students who completed a degree in international business, according to the most recent data. 

Earnings data was sourced from U.S. Treasury Data for graduates of 2019 and 2020, , with salaries adjusted for inflation to 2021 dollars.