Business finance consultants assist business
firms in improving their financial performance and management. Those who
aspire to work in this field might pursue a bachelor's or master's
degree program in business administration, both of which are available
online.
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.
The speed of one's degree completion depends on the amount of credits
he or she takes, the amount of college credits he or she has available
for transfer and personal time management. 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. BBA
programs can be completed entirely online, although most colleges allow
online students to participate in on-campus seminars and events if they
desire.
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.
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.
Business Law Course
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.
Introductory Accounting Course
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.
Economics Course
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.
In 2010,
Payscale reported that the median salary of all
finance consultants ranged from $45,223-$92,753. However, with only a
bachelor's degree in business administration, the salary for a
consultant ranged from $42,707-$76,000.
Continuing Education
While 73 percent of workers in this field have a bachelor's degree, according to the U.S. Bureau of Labor Statistics (
www.bls.gov),
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).
Online 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.
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.
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.
Business Finance Course
Online students learn about corporate-level decision making in
regards to financial matters. These matters usually include capital
management, budgeting and risk assessment.
Human Resource Course
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.
Managerial Economics Course
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.
Having an MBA and experience can significantly impact a business finance consultant's rate of pay.
Payscale reported that, in 2010, the average salary for a finance consultant with an MBA ranged from $48,000-$115,122 a year.
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