In general, both the BBA and MBA programs include fundamental business coursework, in addition to core finance and banking courses. Both programs may also offer internships or hands-on practical experiences. MBA programs can be designed according to the needs of both full-time students and working professionals - flexible scheduling options are fairly common.
Institutions awarding a BBA degree require successful completion of a high school diploma or equivalent. Most schools have minimum GPA requirements and ask for college admissions test scores as part of their standards admissions process. Prior courses in business or economics, while not usually required when enrolling in a standard 4-year program, are suggested for this degree track.
Applicants to MBA programs generally must have demonstrated academic success, since the entrance to many programs is highly competitive. Professional experience, while not required for traditional programs, may be helpful in demonstrating business acumen. In addition to completion of a bachelor's degree, students are required to obtain a satisfactory score on the GMAT, which varies depending on the institution.
Bachelor of Business Administration in Banking and Finance
Bachelor of Business Administration (BBA) in Banking and Finance students learn the many aspects of corporate finance, including investment, capital budgeting and financial decision-making. Enrollees are provided the opportunity to acquire a thorough comprehension of financial theory and strategic thinking. Graduates are prepared to work in banks, brokerage firms, investment and insurance services.
Students complete general education courses during the first two years of the program in addition to the following professional courses:
- Money and capital markets
- Credit analysis
- Monetary theory
- Liquidity management
Master of Business Administration (MBA) in Corporate Finance
An MBA with an emphasis in corporate finance provides students with a solid general business foundation and helps students to develop analytical and decision-making skills. Students generally spend the initial portion of an MBA program studying core business functions and then pursue courses tailored to an area of interest such as corporate finance. Course topics may include:
- Corporate finance
- Financial reporting
- Financial accounting
- Strategic decision-making
- Global markets
Career Outlook and Salary Info
According to the U.S. Bureau of Labor Statistics (BLS), the overall employment of financial managers was expected to grow at 16%, as fast as the average rate, during the 2018-2028 decade. However, significant competition for jobs is expected. Salaries for bank compliance officers vary depending upon years of experience and location, but according to the BLS, compliance officers earned a median annual salary of $68,860, according to May 2018 data (www.bls.gov).
For experienced bank compliance officers, certification is available through the American Bankers Association Institute of Certified Bankers. Applicants must have three years of professional experience in the field of compliance to be eligible for the certification. Additionally, at least 80 hours of ICB-approved training is required in order to take the Certified Regulatory Compliance Manager examination.
Students interested in bank compliance officer training can study at a bachelor's or master's level. Common courses, such as microeconomics and financial accounting, will prepare graduates for a career in this field.