Students can prepare for a career as a business finance consultant by earning a Bachelor of Business Administration (BBA) or a Master of Business Administration (MBA) degree. Both of these programs are commonly offered online and can usually be completed entirely through distance learning. Most colleges allow online students to participate in on-campus seminars and events if they desire, and some programs require visits to campus for seminars, presentations and exams.
Courses in BBA programs may include accounting, economics and business law. In the MBA programs, the emphasis is more on management, with courses that may include human resources and corporate decision-making.
Bachelor of Business Administration
Online Bachelor of Business Administration (BBA) programs are usually science and math intensive, with courses in accounting, economics and finance. They help aspiring business finance consultants develop the leadership, statistical analysis, decision-making and communication skills that potential employers desire. Most colleges and universities require prospective online BBA students to have a high school diploma and a certain number of college credits.
Information and Requirements
Colleges and universities that offer online BBA programs typically recommend that students spend roughly 15-20 hours a week on each course to complete the program in the usual four years. Most BBA programs employ the virtual classroom method, giving students 24/7 access to their assignments, as well as the ability to communicate with professors and other students online.
Students in online business administration programs must have access to a computer with Internet access. They also might need to purchase certain software, such as Microsoft Office.
List of Common Bachelor of Business Administration-related Courses
BBA programs are a mixture of general education courses, such as calculus, statistics and English, and specialization classes and electives. Major-specific curricula focus heavily on real world application of basic business concepts, such as decision making.
This course introduces students to basic legal issues prevalent in business. These issues are framed through analysis of the legal system and examination of the constitution and laws that derive from it. Students also explore ethical aspects of business decision making.
Developing students' interpretative skills in regards to understanding accounting information is the focus of this class. Students also sharpen their decision-making skills by interpreting financial statements and developing assessments.
Students examine employment, inflation and governmental influence in relation to economics. This course usually entails analyzing current trends in the economy in relation to various business concepts.
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Master of Business Administration
Online MBA programs focus on enhancing students' managerial, critical thinking and leadership skills. Aspiring business finance consultants learn the practicality and real-world application of previously learned business concepts. Most schools require prospective students to have a bachelor's degree and around five years of work experience in a business field. Online MBA programs can be completed in as little as a year and a half.
Information and Requirements
Online MBA programs focus heavily on group work in order to sharpen students' managerial skills, as well as their abilities to work collaboratively. Students communicate with their peers through online message boards and e-mail.
List of Common MBA-related Courses
The courses in an MBA curriculum focus on teaching the practicality of business skills, like financial statement analysis. Most MBA programs do not include general education classes.
Online students learn about corporate-level decision making in regards to financial matters. These matters usually include capital management, budgeting and risk assessment.
This course examines the management and functionality of human resources in a business, as well as addressing how to maximize those resources. Students analyze every aspect of human resources, from employment laws to employee recruitment strategies.
A course that focuses heavily on the current economic state, managerial economics teaches students about the economy's effect on business decision making. Supply and demand, elasticity and governmental influence in the market are a few of the economic concepts students analyze.
In 2016, PayScale.com reported that the median earnings of all finance consultants ranged from $37,339-$121,332. Having an MBA and experience can significantly impact a business finance consultant's rate of pay.
Business finance consultants do not have to be licensed. However, they may choose to obtain certification through a professional organization, such as the Institute of Financial Consultants. These organizations also offer certificate programs in various areas of business finance, such as financial controls and fraud examination.
Most consulting firms require additional job-specific training, which might come in the form of an internship. Additionally, many consulting firms offer tuition assistance programs for employees who pursue a Master of Business Administration (MBA).
Both undergraduate and graduate level degrees are available in fully online formats for individuals who want to become business finance consultants. While bachelor's-level programs focus on general business concepts, master's degrees will often be more focused on managerial and executive skills.