<p>One of the AACSB Acct. accredited schools I've been looking into offers a concentration in Forensic Accounting, but I'm wary about the value of that major...</p>
<p>(At the moment) I hope to get an internship and subsequently land a job at one of the Big 4s in NYC. But IF I could get a job in forensic accounting, I think I may take that over public accounting, even if the salary is substantially less.</p>
<p>So, even after Sarbanes-Oxley, is there much of a demand for forensic accountants in comparison to public accountants? And would a concentration in forensic accounting put you below a student who specialized in public accounting at the Big 4?</p>
<p>Thanks</p>
<p>**Also, the school I'm looking at with the forensic specialization is Rider University near Trenton NJ. Besides the fact that I'm in state and could probably get a substantial scholarship, do any of you know the opportunities that Rider provides? I know its AACSB accounting accredited (unlike Rutgers NB), but I feel like a degree from Rutgers is still more valuable just because of the name.</p>
<p>Personally, I wouldn’t recommend majoring in forensic accounting.</p>
<p>Forensic accounting is too specialized. I mean, how often do companies like Enron and Worldcom collapse due to fraud? I worked in forensic accounting for awhile re-stating a few companies’ books, and it was a nightmare. 75 hour work weeks and grueling competition among the various forensic accounting firms competing for the work. Luckily, I was getting a nice bonus package from my employer for working OT, but I ended up meeting a few guys from a larger firm that weren’t so fortunate.</p>
<p>If I were you, I would try and get into a Big Four firm’s transaction services group. At those firms, that is the group doing the most prestigious work (advising on acquisitions and divestitures). Also, if you can do that for 3 to 5 years, that is a good way to be able to enter an MBA program and eventually work in finance or investment banking.</p>
<p>I’m from New York and i’m majoring in For. Acc. My accounting adviser told me i’m getting into a great field. It’s one of the fastest growing fields in accounting.</p>
<p>Forensic Accounting is not only about companies collapsing from fraud, it’s about preventing/protection as well. There’s many specialties within Forensic Accounting. You can also work for the IRS-CI[Criminal Investigations], FBI. For. accountants also do things like divorce cases, settling disputes before they get to the courtroom, and many other things. I’m sure you knew all of this but, i’m just saying, it’s an exciting field. And after a few years of experience, you could be making really good money, especially here in New York.</p>
<p>Personally, i’m just learning about the field right now, i’m definitely sticking to it. It sounds much more exciting than being a public accountant. Anyways to be an FA, you still need to take the CPA exam I think, from what i’ve read, and you should get your CFE after that. So I don’t see how if you don’t like FA, you just can’t make a jump to be a normal accountant. As of now, I would say, you have nothing to lose if you major in FA.</p>
<p>Every Big Four firm has a transaction services group. The work is similar to audit, but the profit margins are a lot greater because of the quick turn-around time associated with the deliverables.</p>
<p>“I didn’t think people who left Big 4 acct firms had much of a shot in IB.”</p>
<p>I know quite a few people that went to work in audit for a few years, were accepted to really good MBA programs, and then went to work as associates at investment banks.</p>
<p>“I know quite a few people that went to work in audit for a few years, were accepted to really good MBA programs, and then went to work as associates at investment banks.”</p>
<p>Is it basically a requirement to have your MBA to get into banking? I plan on going to school for 5 years and getting my Masters so I can sit for the CPA after 3 years of work at the Big 4. But that wouldn’t count I’m guessing?</p>
<p>Yeah I’ve done some research and it seems much more interesting and exciting in every way. Just curious, where are you going to school right now?</p>
<p>"Is it basically a requirement to have your MBA to get into banking? I plan on going to school for 5 years and getting my Masters so I can sit for the CPA after 3 years of work at the Big 4. But that wouldn’t count I’m guessing? "</p>
<p>I know a few people that went directly into banking from undergrad, but I know a lot more people that went the Big Four/MBA at a good school avenue. A Masters in Accounting isn’t a credential that will help you land an investment banking job.</p>
<p>Right now i’m in a 2 year college, BMCC, to get my terrible GPA up. I have had a few setbacks[surgeries], which lead me to drop out of college in the first semester when I was 19, this was about 4 years ago. I’m 23 now, starting as a freshman.</p>
<p>I want to go John Jay college for my bachelor’s. I know that it is not a AACSB accredited school, but i’m just learning about these things right now, i’ll keep researching. What do you think about John Jay for this field? At John Jay it’s actually Forensic Financial Analysis.</p>
<p>“What do you think about John Jay for this field?”</p>
<p>I had never heard of the school before you mentioned it. </p>
<p>Email their career placement office and ask the following questions:</p>
<p>1) What % of graduates of the program are employed 9 months after graduation?
2) What is the average and median starting salary for those people?
3) Which firms recruit at the school?</p>
<p>That’s strange that you never heard of it. It’s ranked #125 in US News regional[North] universities, #41 in top public schools, ranked #10 in Criminology, and #59 in public affairs.</p>
<p>The other school i’d like to go to, UAlbany, is ranked #2 in Criminology.</p>
<p>I said in “in this field” meaning the law enforcement, criminology, criminal justice field. Which that’s the field i’d like to enter when I graduate. #10 for John Jay college is not bad at all[in criminology].</p>
<p>But like I said, i’m still searching. I’ve also looked in to Baruch College, which is a great school. Ranked #21 in US News, and I like their accounting programs.</p>
<p>“I said in “in this field” meaning the law enforcement, criminology, criminal justice field. Which that’s the field i’d like to enter when I graduate”</p>
<p>Well, a lot of the work related to forensic accounting is handled by the Big Four accounting firms. As a result, having a degree from a well-known accounting school is usually a good way to get your foot in the door at many of those places.</p>
<p>I worked for 3 years doing forensic accounting, and I would estimate that 95% of the people I worked with had previously worked in auditing at a Big Four firm.</p>
<p>Hey Bill, that’s cool that you actually worked as a Forensic Accountant. I’m only a freshman now, you know. I’m just starting, but FA is definitely what I want to do. I was going to ask you for some pointers on FA, but I see you don’t think too highly of it? I was also going to ask you what you think is the best school to go to for Forensic Accounting in New York. Based on my research, it’s supposedly John Jay College and UAlbany, but you say you didn’t even know about JJ College.</p>
<p>Here’s the thing, i’m interested in Accounting and Criminal Justice, and wanted to mix both of them up, so I found Forensic Accounting. And the only school in NYC that offers undergraduate degrees in FA specifically, is John Jay College. It’s actually called Economics, and you can choose to specialize in 1 of 3 specializations. One of them being Forensic Financial Analysis. </p>
<p>I’m torn between going to a good school for Accounting, or just going to John Jay College for the aforementioned degree. I really want to study For. Acc. as an undergraduate. But if i’m advised by multiple people, including the accounting counselors, to stay in accounting all the way, then I would do that.</p>
<p>BTW, what if I don’t want to work for any of the “big 4”, what if let’s say I want to work for the IRS-CI, or the FBI, or some agency along those lines?</p>
<p>I’m not an expert, but I’d have to suppose that getting into Forensic Accounting is more reliant on your accounting background that criminology. So I would say Baruch. I’m pretty much split between Baruch and Rutgers at the moment, considering they will both cost about the same and both have about the same prestige.</p>
<p>Yeah, i’m looking in to Baruch. But honestly, if i’m just gonna get a normal accounting degree, I prefer going to University of Albany. But Baruch is really good, and i’m not too excited about leaving the city and going upstate.</p>
<p>Actually, I worked as an auditor at a Big Four firm before going into forensic accounting.</p>
<p>After working at the Big Four firm, I worked in finance at a corporation, and then I went back into professional services/management consulting. At the consulting company I worked for, management received a lead for a large forensic accounting project, and since many of us were ex Big Four auditors and could do the work, our firm landed the engagement.</p>
<p>Kel - It’s not that I didn’t like forensic accounting. It’s just that I liked finance more. Plus, in forensic accounting, nobody at the client is willing to help you find information. Since fraud has often happened, a lot of the people that performed the work that is under investigation have left the organization, or they are reluctant to provide you with many details about why they booked certain journal entries.</p>