<p>so is it worth it?</p>
<p>Right now i'm at Buffalo state with a B.S double major in Criminal Justice and Economics. I have been doing research (which is actually hurting my studies) and finding these majors don't have great job prospects. my Bachelors will be 80k</p>
<p>I'm not sure If I can even get into a MS program in Accounting because of my majors. </p>
<p>But maybe Fiance? </p>
<p>I am really in the dark right now. I can't focus.</p>
<p>Thanks for any input</p>
<p>accounting- maybe. Finance- hell no </p>
<p>it depends on the prestige of the school. But i find it very hard to justify 100k for a masters in either accounting or finance. why not get a CPA? the whole process would only cost you around $3000 , and is probably more valuable than a masters in accounting. Also, google " can’t find job in accounting", and you’ll see that outsourcing, advances in technology, etc, make it really hard for people find jobs in the field. Taking on 100k before you even get a real job is not a good decision imo.</p>
<p>debt= enslavement. omg i just read your description more carefully. 80k already in debt? And you wanna plunge into another 100k? Please don’t do that to yourself.just get a CPA.</p>
<p>thank you for the input</p>
<p>The reason a MS in Accounting may be necessary is that with criminal justice and economics majors, the OP will not qualify to even sit for the CPA! </p>
<p>For many years, the uniform requirement was 24 semester hours of accounting, but many states are increasing the requirements. Someone in another thread stated that in NY state you now need at least 33 semester hours of accounting - I know in Illinois they just raised it to 30 accounting hours, but then also added an additional 2 hours of ethics requirement. At least in Illinois, there are also requirements as to the minimum number of finance, economics, marketing, management and information systems credits.</p>
<p>Now a masters degree is not absolutely required, but in almost every state you must now meet a 150 hour requirement with an increased number of accounting hours. As an econ major, the OP probably has no more than two accounting classes. At least in Illinois, an accredited MAcc/MSA automatically qualifies you to sit for the CPA. If the OP choses to simple take individual classes, which would be cheaper, he must work carefully with an experienced accounting advisor who understands the requirements to sit in the OPs state.</p>
<p>The other advantage to a masters is that it will enable you to take advantage of on campus recruiting. This is where the Big 4 and national firms make most of their hires.</p>
<p>thanks for the reply Bear. </p>
<p>It looks like- CFA with less debt or CPA with more debt. I’m hearing CPA has more job opportunities and stability.</p>
<p>I would agree that there are likely more entry-level accounting jobs than finance jobs. However, that is due in large measure to the turnover in large public accounting firms - they always need a fresh crop of 1st years. </p>
<p>The CFA is a great credential; however, obtaining your CFA needs to be a long term goal. The exam has three levels and you can only test for one level at a time. So it will take a minimum of three years to pass all levels - and very few people pass all three levels on the first time, so it may be a four to six year project. Since it takes so long, you need to be out in the work force, so studying at nights and on the weekends is common - unless you are independently wealthy.</p>
<p>As far as the CPA, in most states, you can not even sit for the exam until you have qualified (the 150 hours and your state’s accounting/business minimums discussed previously). However, many state’s will give you “provisional status” during your final semester so you can at least get approved to sit and then start taking the exams right after school ends. (You then need to submit your transcript showing you graduated/earned the final credits within a specific timeframe or they cancel your permission to test and test scores.) It is possible, but not entirely likely, to take and pass all four sections within one quarterly testing window. </p>
<p>The big accounting firms are most concerned that you are “qualified” to sit for the CPA in your state, not that you necessarily have taken or passed all sections prior to hiring.</p>
<p>I was going to suggest you switch to Accounting in one of your majors if you weren’t too far along in your coursework, but then I looked at your school’s undergrad programs. It doesn’t look like it offers Accounting.</p>
<p>If you decide to choose, Accounting, I would try to enroll in a MAcc program preferably much cheaper than the school you currently attend. Make sure it has Big 4 or regional recruiters, though, if that’s important to you. Some schools allow non-Accounting students into MAcc programs, but they’ll usually have to complete some basic coursework. You could, alternatively, enroll in a BS program. That might be cheaper; plus, you wouldn’t have to take the GMAT or GRE.</p>
<p>I don’t know much about the CFA, so I can’t speak to that.</p>
<p>Great information guys. Thank you very much. I feel a lot better in making a decision.</p>
<p>Does your school offer a minor in accounting ? I would suggest choosing that minor if you are just worried about job prospects. </p>
<p>Keep in mind that you do not actually need a “finance” degree to break into the finance field.</p>
<p>If you’re considering graduate school, I would recommend transferring now to a much more affordable school and keeping undergraduate costs as low as possible. You will not enjoy living paycheck to paycheck due to the magnitude of student loans you’re talking about, even if you have a competitive salary.</p>
<p>Either that or try to work after undergrad and pay down your debt before continuing on to graduate school. Minoring may help as someone suggested, and pursuing internships early and gaining as much relevant work experience as you can to increase your job prospects.</p>