Updated: Tuesday, September 22nd, 2009

The University of Miami (UM) School of Business Administration announced it will collaborate with seven top business schools across the globe to offer new programs, including undergraduate and graduate student exchanges, faculty exchanges and joint executive education.

Schools involved in this agreement include: the University of Sao Paulo in Brazil; the Pontifica Universidad Catolica Business School in Peru; the University of San Andres School of Business in Argentina; the Fudan University School of Management in China; the Autonomous University of Madrid; the Instituto de Empresa Business School and Pompeu Fabra University in Spain.

Barbara Kahn, dean of UM's School of Business Administration, said the program is intended to provide "an international gateway to Latin America, Europe and Asia" in order to "lead to cooperation between [UM] and other schools" and foster "the exchange of ideas and knowledge."

A semester-long MBA student exchange program between UM and Shanghai's Fudan University is slated to begin this fall.

Those wishing to pursue careers in international business may enter MBA programs to increase their earning potential. PayScale.com, a research company, says that average salaries for holders of MBA degrees ranged from $73,510 to $171,583 in 2008, depending on the field, position and years of experience.

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