I’m asking because I’m going to graduate in the Spring with 124 credit hours which means I’d need at least 26 more to meet the 150 credit hour requirement. Which means I can;
Postpone my undergrad until next Fall; essentially be able to start my career a semester early, have a minor in Business Law, and only pay around $10,000.
Do the MAcc program; have that achievement on my resume, get a paid trip to Washington DC, probably be better prepared for the CPA exam, and probably better educated in general of the accounting field but it costs around $24,500.
So let’s break this down. You need 150 hours to get a CPA license, so the issue at hand is whether an MAcc is worth spending $15K and an extra semester. Starting your career a semester earlier is a moot point unless you already have a job lined up and waiting.
I vote for a MAcc. With the 150 hour rule, most of the people you come up against for jobs will have a masters. I think the question is whether to get your MAcc from your current school or go elsewhere (having seen some complaints about your school in your previous posts). Crush the GMAT and get into the best school that you can. Best school = that which places the most people into good the jobs in the city in which you want to work.
It depends on the details. I’m not sure exactly how things would work in either scenario. In general a Masters degree is nice, it is more and more common among CPAs due to the 150 credit rule, but it is not necessary.
Here are a few questions — Do you have a job lined up for next fall yet (or prospects)? Can you come up with the extra money (including deferring full time employment)? Were you planning to stay at the same school for the Master’s degree or go to another (bigger name) school? Do you have what is needed to apply for Master’s programs either at your school or other ones (ex. GMAT, application, letters of recommendation etc.)? And why do you feel a Master’s program would prepare your for the CPA exam more than the extra semester (the best preparation is a good CPA review course such as Becker which is expensive unless you get a job with a company that will pay for it).
Bottom line is I have more questions than answers for you.
@arc918 I already took the GMAT and plan to switch schools (choosing between two) if I did choose to pursue the MAcc. Yea, I guess I am getting quite a bit ahead of myself. I think the whole “be done with school earlier” notion got to my head too much.
No job lined up. I guess I got way ahead of myself in thinking that with a degree and CPA exam eligibility, it wouldn’t be too difficult to find a job given such long notice.
I will have access to the funds (via loans) which is in no way ideal.
Definitely switching schools! Already have my two choices if I do pursue a MAcc…
The priority deadline for both schools is in January and I have everything except for the letters of recommendation. I know who I would ask if I do end up needing them, but I’d rather not waste their time if I do plan to submit them (not pursue a MAcc).
I figure the MAcc program would better prepare me than the extra classes of upper level undergraduate classes because the descriptions of their programs all essentially say that the program is designed around making sure you pass the CPA exam whereas the undergraduate classes that I would be taking would most likely just build the foundation of additional categories in accounting such as forensics, data analytics, etc. Though I do agree that with the money saved with undergraduate degrees, I could use some of it to pay for a Becker or similar course.
You have to decide if the extra money is worth the possible better job opportunities and better courses available at grad school. This is a decision only you can make. Best of luck moving forward.
For what it is worth, my department had an intern majoring in accounting from a small East Coast college, which I never heard. The person subsequently graduated with a BA in accounting and took my suggestion to get a CPA license and completed a Masters in Accounting in the West Coast from a school that is not very well known, especially in the East Coast. The person was able to get an entry level job (assurance) with a West Coast office of EY.