Is a degree from an undergrad business school worth it in this economy?

<p>Many of the posted viewpoints are from personal experiences and I think there are many many ways to achieve one’s goals. The OP wants to know if a degree from an undergrad business school is worth it in this economy. It is entirely dependent on what type of job the OP wants and more importantly what he brings to the table personally.</p>

<p>I have two kids. Both are in the business world. One majored in economics and minored in English in a top liberal arts college, worked 4 years and went back to get her MBA. She graduated last May in a miserable job market but had 3 offers of employment by Christmas before her graduation. She is now happily employed in her “dream job” and exaggerated a little by saying “Mom, people will kill to get my job.” However, there are quite a few other classmates still in their job search. Same school, same degree, different outcome.</p>

<p>My S went straight to an undergrad business school with a concentration in finance. He had several job offers by graduation despite the fact that 2004 was also a poor job market. He was lucky enough to land that IB position that interests so many young people. He progressed quickly, received several promotions and doesn’t feel that an MBA will enhance his career. To him, his undergraduate business school degree will be his terminal degree. </p>

<p>However, I do like to add that despite my son’s lack of interest in reading before college and his lack of an English major or minor, he is an excellent writer and public speaker. He also has had many opportunities to analyze and present his ideas by speaking and hosting conferences to CEOs of major companies, heads of investment banks and investment firms. In the last weeks, he has received calls from rival firms interested in his service, and this is happening when a lot of people say WS is dead.</p>

<p>Both are happy in their career choices and their paths taken are different. Therefore I think that one’s degree doesn’t make much difference and there are many variables involved including the personal skill sets that would land a job successfully.</p>

<p>Morandi,</p>

<p>Thank you for your post (#30). I never knew you could take the CPA exam without an Accounting degree, and the rest of your post is so life affirming it’s a pleasure to consider. Here’s to many paths to success. “There are as many paths to a rich life as their are people.” Words to live by.</p>

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<p>Please. Popsicle, your sarcasm may have been wasted on Starbright and some others, but not on me!<br>
And really Starbright, how would you expect someone not yet in the job market to debate the success of her degree? Debating this issue doesn’t make it true or false. Since you are involved in post-secondary ed, perhaps you could lead us all to some research published on this? I have one of those poor business majors in my family and I would like to see some of the research done in this area.</p>

<p>bills: did that family member go to a top or solid school? I agree that you can’t expect a whole lot from a business degree from a third or fourth tier university (below top 100ish on US News).</p>

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<p>Um, yes, things have changed. You practically need a Master’s Degree now to be a CPA in almost every state. You need a minimum of a UG degree (120 credit hours) with 24 hours in Accounting. With that you could sit for the CPA exam in some states but in order to get licensed you need a 150 college credit hours - which is equivalent to a Master’s Degree, so most people go on to get their Masters in taxation or some other business grad degree. In most states, you need 1-2 years of direct supervision under a CPA with a minimum number of auditing hours. There is some variation among the states but not much. The 150 hour rule was added in the late 80’s. To be clear, technically, the 150 hour rule doesn’t require a Masters but in practicality, most people go on to get it since they need 150 hours anyway.</p>

<p>You didn’t use to need a UG degree to be a CPA. My father is a CPA who only attended 2 years of business school. But that was back in the 60’s. I bet those partners are all close to retirement, aren’t they? :)</p>

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<p>[The</a> 150 Hour Requirement](<a href=“http://www.aicpa.org/Becoming+a+CPA/CPA+Candidates+and+Students/150+Hour+Requirement.htm]The”>http://www.aicpa.org/Becoming+a+CPA/CPA+Candidates+and+Students/150+Hour+Requirement.htm)</p>

<p>^Sorry, I changed that to ‘practically need’ at the same time you were posting your link, bluebayou, because I realized that it wasn’t a requirement. Although, again, most of the kids coming out today go on to get a Masters because it is highly desirable in the larger accounting firms and since you need 150 hours, anyway. I know the ‘big 4’ won’t even consider someone coming right out of school for their tax department without a Masters of Taxation. Not sure about auditing.</p>

<p>With the ouput of accting majors from colleges I doubt many non majors are getting hired into the accting group. They might go into consulting and such but not hardcore accting.
Looking at the UW data 20 accting under-grads went to non audit jobs with major accting firms while the MACC group had most go into audit and other areas (tax) etc most with Big 4 firms. Intersting thing was BS accting grads had a just slightly lower average salary.</p>

<p>My niece pointed my daughter to a lot of colleges offering the 150 hours undergrad, it saves you a lot of money if you can do it, but it’s not easy. On an accounting page:
“Colleges and universities with quality accounting degree programs will offer both a bachelor’s degree in accounting as well as the more ambitious 150-credit degree, the latter one meeting the state’s requirements for sitting for the CPA Exam. If you want to become a CPA, you will choose the 150-credit program. Within those 150 credits you will most likely earn the bachelor’s degree in accounting.
You should know from the outset that college accounting courses are difficult—they demand an ability to understand and manipulate complex financial concepts. You will be expected to attain above average grades in an environment known for high grading standards.Less than half of the students who enroll in a bachelor’s degree program in accounting will succeed. The same is true for those who intend to earn the 150-credit degree. Of those students who succeed in qualifying to sit for the CPA Exam, less than half of them will successfully pass this difficult exam.”</p>

<p>What she found at her undergrad school, was that the students who found they didn’t quite make the grade, GPA too low to be considered by many firms, they would scramble to go into a new business area, which may not have been their original focus.For some this was harder than for others. Most of the business majors she knew, (especially in accounting) did well in the job market, but they were open to going to going to different areas of the country and they had strong networking.
The “Everything you always wanted to know about accounting” thread on CC is very helpful for anyone interested in accounting, especially taxguys earlier posts.</p>

<p>I have one of those awful undergraduate degrees in Business and a Philosophy minor. People have always hired me for my Business degree and smiled at me for my Philosophy degree. If you want 4 and out, with the ability to get a job, Business is a perfectly fine degree. I did not pursue finance or accounting, but rather, Human Resources. I have an excellent career making a good living, doing work I like. I also went to a State school and did not incur any debt. I went back to get my Master’s in my late 40’s and my career took another jump. So, OP, you can do perfectly well with a Business degree. Personally, I think if you want to do only 4 years, Business and Engineering, or a health area are the best degrees to land you a job…and this is from a hiring Manager.</p>

<p>popsicle,
You need to learn to make decisions based on your own goals and stop listenning to others. Yep, we have some entertainment here, but it is not meant to be elevated to the level of influence in life changing decision making. You must be joking, I guess. Keep it cool and use your own head. Nobody in a world can evaluate your own circumstances but you. I would be nowhere in my life if I listen to advice of others (including people who were very close and who I respected very much, forget complete strangers). I have it very nice and had fun all the way thru, would not change anything and never ever had listened to anybody.</p>