<p>My son has applied EA to ND. If accepted and he wants to do accounting, this is another year (so 5 years of costs, so $250K), I have heard where accounting firms will pay for the 5th year (tuition and r/b), has anyone seen this happen?</p>
<p>Depends on the firm, my father is a partner in a mid-sized firm and they don't usually recruit people from undergrad, they want individuals who have had 5-10 years experience at a big firm. However, the big firms might, especially since ND has an excellent program (top 3 last time I checked) in accounting. My father still hasn't forgiven me for studying psychology and computers while I was there :).</p>
<p>Regardless, I don't think you can go wrong with ND for business right now, they are easily a top 5 school, and are usually ranked in the top 3.</p>
<p>My daughter is a sophomore at ND, majoring in accounting. To sit for the CPA, one does not need a masters in accounting. What is needed is 150 credit hours. (with lots of APs coming in and loading up over the span of 4 years, it is doable.)</p>
<p>I have a neighbor who is a partner at Deloitte. (one of the big four) She told me that they do not pay anymore for someone who has obtained their masters degree. All they care about is the person's eligibility to sit for the CPA. Since they place so little emphasis on the need for a masters, it is extremely unlikely that they would pay for it. </p>
<p>Despite this, my daughter is planning to stay at ND for the masters degree. She plans on working for the big four when she graduates. I am encouraging her to do this as it may be beneficial to her as her career plays out. With the present state of the economy, one needs all the advantages they can get!</p>
<p>If you go to the graduate website, you will note that all of the incoming graduate students into the masters in accounting receive some type of small scholarship. (about $10,000-$15,000 I believe)</p>
<p>I know that the $250,000 is a mind boggling figure. I am just trying to take it a year at a time. My daughter will be on her own for the fifth year, as I feel I've paid my dues.</p>
<p>Yes, the $ is the core issue, my son could go to U of Mich, (assuming he gets into the Ross School of Business, you apply 2/3 way through freshmen year) and have no debt, but go to ND and we would have to take on debt ($50K) and so would my son (probably $40K). we don't qualify for financial aid but need to save a lot because our pensions have been down-sized and 401K has been decimated.</p>
<p>MiPerson80-</p>
<p>I'm in public accounting and work at one of the Big Four. I went to U of Mich freshman year then transferred to ND (didn't get in there initially).</p>
<p>Honestly, he should go to ND for accounting. Not only is it Notre Dame, but Ross (at UM) doesn't even allow you to major in accounting. He will still get a Big Four job, but recruiters literally BEG Notre Dame accounting graduates to work with them. We are highly sought after and have pristine reputations in the business world.</p>
<p>And, actually, what I did was go to ND for undergrad and went elsewhere for my 5th year. That is what I found to be best because it gives you more exposure to other things in life. ND would have been expensive (although the average financial aid is around $15,000-$20,000) but I chose to go to another school that would basically give me a free ride. Truth be told, where you go for you Masters in Accounting is for bragging rights only. I got into Univ. of Texas (#1 in the nation) but decided not to go there because it wasn't worth $50,000. It wasn't worth that because I was going to start at the same salary whether I went to Texas or some community college for an extra year (that is just the way accounting is...it stinks but it's reality). I ended up getting a Master of Taxation from Arizona State University because they paid me to go there and I got to teach accounting the entire year (greatest experience of my life).</p>
<p>Good luck in your decision process though...and remember, you cannot put a price tag on a Notre Dame diploma!!</p>
<p>Just for further clarification, is the fifth year is dedicated to earning your masters degree? If so, does that mean you technically graduate in four years or five years from the university you attend?</p>
<p>You need 150 hours to sit for the CPA exam (unless you live in CA, NY, or PA...which are still 120 hours...but soon to change).</p>
<p>You will usually get 120 hours at your undergraduate college. A lot of colleges have a master's program (MSA, MAcc, MAIS, MPA etc...they are all the same) and that is what you would take in your fifth year. You graduate with a Master's and then can start studying for the CPA. Your last 30 hours (getting you up to 150) don't have to be accounting hours, though. You can actually take 30 hours of gym at a community college if you wanted to...but I wouldn't recommend it of course!</p>
<p>what are the general salary range of a newly graduated undergrad accounting major?
assuming if i get in and attend, i'd have to pay around $220000 for 4 yrs at Notre Dame because I am an international student. Am i going to be in debt forever?</p>
<p>Unfortunately, everyone starts out at about the same salary in public accounting (but the raises are in the vicinity of 10% per year....FAR more than industry).</p>
<p>Chicago will usually start anywhere from $55,000-$57,000 whereas New York has a much larger variance. One of the Big Four firms pays it's Tax new-hires $72,000 whereas another firm pays its Audit new-hires a paltry $57,000. California is around the same amount as Chicago (with places like Detroit and Houston being a bit less than Chicago).</p>
<p>$220,000 seems like a bit much for even an international student, but it still shouldn't matter. In fact, Forbes came out with a study a few months ago about which colleges to attend in order to become rich. Notre Dame came in at #8 (two spots behind Harvard, even!) so it is evident that a degree from Notre Dame--especially the 3rd ranked Mendoza College of Business--will pay dividends.</p>
<p>when I filled out the Certification of Finances, the total cost added up to somewhere around 220000, which is insane. but hopefully i can get some sort of financial assistance if accepted. I know Notre Dame will definitely guarantee a great reputation and carreer, but in the end i guess it'll depend on the affordability.</p>