Bachelor of Science in Business Administration major in Banking and Finance (BSBA-BF) is a four year degree program designed to provide students with the tools for understanding investments, capital markets, financial management and financial institutions.
The BSBA in Banking and Finance program covers topics on modern finance, marketing and management analysis method, the financial management of businesses and risk management. It also aims to educate students about technology (e-commerce, internet, and information technology), financial regulations, organizational structures, financial products and instruments.
In contrast to the generic BSBA
curriculum which is a broader business degree touching general topics on finance, accounting, strategy, marketing, IT, HR and other business functions, the BSBA-BF program focuses on understanding the financial aspects of the economy, the operations of financial institutions and markets, and the financial management of business operations.
Subjects and Curriculum
The subjects in the BSBA in Banking and Finance curriculum are divided into six categories:
- General Education core:
Language and Humanities Cluster, Mathematics, Computer and Natural Science Cluster, Social Sciences Cluster, Mandated Subjects
- Basic Business Core:
Principles of Management, Human Behavior in Organization (HBO), Principles of Marketing, Fundamentals of Accounting 1, Basic Finance, Philippine Business Environment, Management Accounting 1, Business Ethics
- Business Education Core:
Introduction to Microeconomics Theory, Fundamentals of Accounting II, Business Law (Obligation and Contract), Taxation (Income Taxation), Management Accounting II, Math of Investment, Partnership & Corporation, Principles of Investment, Principles of Banking, Marketing Management
- Banking and Finance Professional Courses:
Money, Credit & Banking, Public Finance, Business Finance, Business & Transfer Taxes, Mathematical Analysis for Business, Quantitative Techniques in Business with Software Application, Credit & Collection, Law on Sales, Bailments & Agency, Bank Management, Central Banking System, International Banking, Investment Banking, International Finance, Banking Legislations
- Professional Electives: (you have to choose a few of the following)
Insurance, Rural & Dev. Banking, Banking & Business, Income Tax Procedures
- Free Electives: (you have to choose a few of the following)
Phil Economic History, Macroeconomic Theory, Managerial Economics, Human Behavior in the Organization, Financial Management, International Business, Production Management
The BSBA in Banking and Finance program is taught to students through classroom lectures. In addition, students are exposed to seminars and educational talks.
As a requirement for graduation, a student must complete an On the Job Training (OJT) and accomplish a business plan or feasibility study.
BSBA in Banking and Finance vs BSBA in Financial Management
The BSBA in Banking and Finance curriculum is geared towards educating students in understanding the financial aspects of the economy such as the operations of financial institutions and markets, and the financial management of business operations. On the other hand, the BSBA in Financial Management
curriculum is focused on the process of planning, directing, monitoring, organizing, and controlling of the monetary resources of an organization. Both courses are completed within four years; they share the same basic admission requirements. In addition; both programs have no board examinations.
Is Banking and Finance a profession?
Banking and Finance is not a profession. A graduate of this program will most likely be employed in banks, financial institutions, financial and accounting departments of corporations and government organizations, as well as the BPO industry. These careers are not considered professions, because they do not require a specialized set of knowledge and skills that can’t be acquired on the job, nor do they require a government certification.
What are the admission requirements for the BSBA in Banking and Finance program?
Requirements at each school may differ, but these are the common requirements:
- Must be a high school graduate.
Those who did not complete high school education may opt to first attend Alternative Learning System (ALS) and pass the Philippine Educational Placement Test (PEPT) to qualify for college. However, some universities only offer selected courses for PEPT passers
- College entrance exam: must pass the college entrance examination with a specified rating set by the school.
- Interview: must pass the interview conducted by the college dean/faculty.
What skills, traits and attitude will help you succeed in this course?
- Mathematical skills (on an average level) – as in other business courses, mathematics is important for this program, because you will be taught on how to compute interest formulas, mortgages, annuity formulas, etc.
- Analytical skills (on an average level) – an average skill in analysis will be helpful when you take this course because you will be solving business problems and make decisions that are sensible and based on available information.
- Strategic thinking – involves the generation and application of unique business insights and opportunities intended to create competitive advantage for a firm or organization.
- Computer Literacy – you will need to be proficient with computer hardware and software and able to pick up new programs related to your job quickly.
- Communication skills – has excellent written and oral communication skills; a strong command of the English language is important because your work will involve dealing with different kinds of people.
- Able to interpret large amounts of financial information and market circumstances and make sound judgments
- Details oriented – thorough attention to details and numbers
How difficult is BSBA in Banking and Finance?
BSBA in Banking and Finance is not a difficult course. However, you need to love math and be able to grasp certain mathematical concepts quickly for you to be able to survive this course. The workload for this program is not heavy compared to courses such as Accountancy, Engineering, and Nursing. Aside from daily classroom lectures, you only need to complete one set of OJT.
The feasibility study is the most challenging part of the program. Unlike the ordinary business paper, a feasibility study has a more complex process. You need to find a proponent, convince him/her to accept your services and afterwards find out whether the type of business that he/she is planning to build is feasible or not.
How long does it take to complete the BSBA in Banking and Finance program in the Philippines?
The BSBA in Banking and Finance program takes four years to complete. The program may be completed in less than 4 years in schools that follow the trimestral curriculum.
On the Job Training (OJT)
A student of the BSBA-BF program is required to attend an on the job training (OJT) in a business establishment or agency. During the OJT, students are given the opportunity to apply their knowledge and practice their skills in actual settings. The OJT program is done under the supervision of a designated authority in the establishment/office which will evaluate the student periodically and submit the evaluation form to the assigned faculty member. The number of hours required for the OJT varies from one school to another. (See sources 1
Civil Service Examination (CSE)
There is no board examination for BSBA in Banking and Finance. However, to be qualified to work in government offices, BSBA-OM graduates have to pass the Civil Service Examination
(CSE) which is conducted by the Philippine Civil Service Commission
Career opportunities for BSBA-BF graduates
Entry Level jobs Jobs requiring no prior to minimal level of experience:
- Loan/Credit Officers – assist individuals and organizations in applying for loans, assess the individuals' creditworthiness and help them determine the most appropriate type of loan for his/her needs.
- Bank Workers – cash checks; accept deposits and loan payments and process withdrawals. They also may sell savings bonds and travelers' checks, accept bill payments and process paperwork.
- Debt Collectors – responsible for reaching out to customers to collect payment for overdue bills, loans, or other payments. Acts as the liaison between creditors and customers and manages overdue accounts.
- Buyers – buy the goods and services a company needs either to resell to customers or for the establishment's own use.
- Financial Dealers – conduct financial market transactions on behalf of clients and offer advice on financial matters.
Mid-Level Positions Require trainings and prior job experience of a few years:
- Account Officers – responsible to look after the financial part of a firm or a particular company. He is also given the responsibility of financial planning and record keeping of all the account.
- Banking Assistants – supervise the clients' businesses and personal financial statements in order to maintain the borrower loan and the letter agreements.
- Insurance Underwriters – decide if applications for insurance cover (risks) should be accepted and if so, what the terms of that acceptance are. They assess a risk according to the likelihood of a claim being made by weighing up a number of factors and asking for detailed information from prospective clients (policyholders).
- Budget Analysts – provide analysis and assistance to help companies develop their annual budgets, decide how to allocate current resources and estimate future financial requirements.
- Tax examiners – responsible for examining and reviewing filed tax returns for accuracy. Decides whether credits and deductions should be allowed.
- Claims Adjusters – responsible for handling insurance claims filed by policyholders. Plans and schedules work needed to process claim, interviews claimant and witnesses, and investigates claims.
- Revenue Agents – responsible for performing account work for the Internal Revenue Service and equivalent agencies. Examine and prepare income, sales, and tax returns for large businesses and corporations.
- Financial Analysts – work for businesses to help them or their clients make investment decisions;
- Financial Investment Advisers – provide clients with advice on financial matters, making recommendations on ways to best utilize their money. The role involves researching the marketplace and advising clients on products and services available, ensuring they are aware of and understand those that best meet their needs, and then securing a sale.
- Statisticians – concerned with the collection, analysis, interpretation and presentation of quantitative information.
- Auditors – examine and analyze accounting records and prepare financial reports for clients.
Advanced Positions Require years of extensive experience and practice:
- Business Managers – develop, evaluate, strategize, and put into operation measures to make a company successful. A key role for business executive is to dialog and review current protocols with existing management personnel of different departments
- Financial Examiners – ensure compliance with laws governing financial institutions and transactions. They review balance sheets, evaluate the risk level of loans, and assess bank management.
- Financial/Bank Investigators – analyzes financial statements, bank records, government databases and other sources to identify fraud or other instances of financial crime.
- Cost Estimators – responsible for forecasting the expense and scope of projects within a company. Analyze business endeavors and envelop cost information for businesses to make sound financial decisions.
- Bank Manager – responsible for the day-to-day duties of managing a banking branch. Oversees the sales, operations, and business development within the branch, including profits and productivity.
- Finance Managers – work within the public and private sector where they are responsible for aiding business planning and decision-making tasks by providing appropriate financial advice and undertaking related accounts administration.
- Treasurers – direct an organization's financial goals, objectives and budgets. Their duties may include overseeing the investment of funds and executing capital-raising strategies.
- Chief Finance Officers – reports to the President and assume a strategic role in the overall management of the company. The CFO will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities of the company.
Jobs not related to banking or finance that graduates can apply to
- Call center agent – answers phone calls and inquiries of clients and provides customer support, usually to people from other countries
- Administrative Staff – personnel responsible for the organization and management of office duties and tasks; positions that include office secretary, personal assistant and office clerk
- Freelancer working online – doing online jobs for clients abroad, such as data entry, article writing, SEO, customer support, administrative support etc., which mainly depends on your skills
Salary Levels A degree in Banking and Finance can lead to a variety of jobs, and salaries will vary greatly depending on the position, experience and industry.
Relevant jobs include working as a Bank Teller, Financial Analyst and Finance Manager. The monthly salaries for these jobs are as follows:
- Bank Teller
- 1-4 Years Experienced Employee: P 10,000 to P 15,000 (see source)
- Financial Analyst
- 1-4 Years Experienced Employee: P 14,000 to P 19,000
- Supervisor / 5 Years & Up Experienced Employee: P 20,000 to P 28,000 (see source)
- Finance Manager
- P 30,000 to P 45,000 (see source)