<p>My friend is thinking about going into accounting, but doesn't know if he should get a CPA or not. He said what turns him off about it is the extra 30 credits you need to sit for the exam, he's worried about the cost of another year of school and how he doesn't know if he can get financial aid for that extra year (he's thinking ahead though, he'll only be a sophomore this yr).</p>
<p>So do any of you have advice I can relay to him regarding what he should do? I guess the main question is "Is a CPA worth it, or can you still do good without it?"</p>
<p>The CPA is definitely worth it, because the reality is that anyone can get an “accounting degree.” Getting a CPA, however, is a proven benchmark that opens up significantly more and better job opportunities. In a competitive job market like now, I would say that having a CPA is a near must in order to have adequate job choices.</p>
<p>Agree with trizz. If he can’t get anymore financial aid would he consider loans? As for your question a CPA is worth it, but depending on where you work, a non CPA could make a good salary also.</p>
<p>I believe you have to work for a while to get your CPA anyway. Some employers help defray the cost of getting the CPA because it makes the employees more valuable. It also allows them to file taxes and audits, which can be very valuable.</p>
<p>Sitting and being licensed are two different things. It takes two years of work experience to be licensed but no work experience to sit for the exam.</p>
<p>There are plenty of people who take the extra 30 credits to get the cpa, and then struggle to get a job. Yet, there are plenty of people who just get the 4 year degree & struggle to get a job. </p>
<p>The truth is that there are more opportunities if you decide to take the extra 30 credits because Public Accounting hires a big portion of acctg students, and will only hire those with the necessary credits to the the exam. </p>
<p>If I could do it over again… I would apply for summer corporate/industry internships after my 3rd year and then apply for full time corporate jobs AND public acctg internships during my 4th year. That way, if you get a good corporate job offer, you wouldnt need to take another year and become a CPA, but if you didnt, then you’d be able to take another year and become a CPA and that would hopefully open up more opportunities. </p>
<p>Truth be told, who knows if its worth it in the short-run. Plenty of students take the extra year, don’t get a public accounting job that requires them to become a CPA, and end up accepting a job that only requires a BA degree. In the long-run, I think its worth it but it would be tough to justify taking out a bunch of student loans to only end up with a starting salary that isnt enough to pay them back and live decently.</p>
<p>I would say to get it, though it’s not 100% necessary at the moment. However, if you think long-term, it’ll probably be a requirement. After all, a high school diploma used to be a huge accomplishment.</p>
<p>Don’t quote specific requirements!! While it may be true in your state, each of the states and territories has its own CPA licensing law. </p>
<p>While most states now, or will soon, require 150 hours, the rules for licensing are as varied as the states. A few give you your license immediately after passing the exam. Most have some work experience requirement. Some only accept public accounting as work experience, some accept government work, some will also accept industry experience. Some require one year of experience, some two, some more. Some waive the experience requirement with advanced degrees. </p>
<p>The AICPA use to have a grid with the various requirements, but it became too cumbersome and the rules were always changing - so they now just refer you to the appropriate state board of accountancy.</p>
<p>I see. Well, he looked at the tuition rates for an extra year to get the 30 additional credits and it’s not a pretty site… if he were to stay at his currrent institution tuition for that year would be about $22k</p>
<p>You will be more marketable for the rest of your life if you become a CPA. Even if you don’t keep your license current, the value of having passed the test will remain with you. There will be some jobs that require it and some that prefer it. It just gives you an edge over the competition. It is easier to get it done now.</p>
<p>Well I was thinking, do you even need to do an expensive Master’s program? Like, in Pennsylvania, the state he’s in, I believe you only need 120 credits to SIT for the exam, though you need the whole 150 to officially become licensed. </p>
<p>So, couldn’t he just load up on credits, maybe take some summer classes, then as for any remaining credits, take classes at a community college to get the 150? I mean, 22k (and it will surely rise) for that one year seems like a LOT…</p>