<p>Technically it's a true statement. What would anyone get out of attending a school that isn't good? If the school catapults your career and you become successful then your school was necessarily a good one. You can make the argument that 1000's of schools are at least good, especially for certain individuals. Whether or not admissions is competitive or how good, in fact, a school is are all different issues from the one at hand, in my opinion.</p>
<p>Then he's really lucky. It's unlikely that everyone will get what he gets though. The majority of the aduti staff in most accounting firms do travel a lot.</p>
<p>My school ranked pretty well in the nation and I do know several people who have degrees in finance but are either unemployed or underemployed. I think the difference is that finance people make more initially and but you must be the top. And if you have the talent, you will get even more later on. For accounting majors, even if you are just average, you can still get a good job once out of school b/c accounting is so labor intensive. </p>
<p>Undergrad degrees are pretty much valued the same among employers, it doesn't matter that much which "good" school you got it from. Only grad degrees matter. That's just my personal observation.</p>
<p>
[quote]
If you really believe that about undergrad school, you are completing f'ing clueless.
[/quote]
</p>
<p>Oh, it sounds like we have a member here who couldn't get into a good school. Whaa, whaa!</p>
<p>That's pretty hilarious for you to say something like that, considering that on a previous thread you said that another poster must have only been around White frat kids at Texas Tech because the poster said he didn't see any black students. Considering that Tech has a low percentage of black students, that's a pretty stupid statement to make. He didn't see any because there's not that many to begin with.</p>
<p>
[quote]
Technically it's a true statement. What would anyone get out of attending a school that isn't good?
[/quote]
</p>
<p>Exactly. I can see the point of this thread as far as accounting being a good degree no matter where you go. But by going to a good school, you get a lot more than just the degree. For one thing, the recruitment and career networks are much, much stronger at good, nationally known universities.</p>
<p>Instead of aiming for the best major, aim for the best school THEN aim for the best major you can get at that school.</p>
<p>
[quote]
My school ranked pretty well in the nation and I do know several people who have degrees in finance but are either unemployed or underemployed.
[/quote]
</p>
<p>Mind telling us what school?</p>
<p>
[quote]
For accounting majors, even if you are just average, you can still get a good job once out of school b/c accounting is so labor intensive.
[/quote]
</p>
<p>This is why I never cared for accounting and never considered it as a major; it feels more like a skill than anything.</p>
<p>
[quote]
Undergrad degrees are pretty much valued the same among employers, it doesn't matter that much which "good" school you got it from.
[/quote]
</p>
<p>Depends, it's easier to get a career from an employer who went to your school. If you went to an almost unknown university, you're out on your own pretty much.</p>
<p>
[quote]
Considering that Tech has a low percentage of black students, that's a pretty stupid statement to make. He didn't see any because there's not that many to begin with.
[/quote]
</p>
<p>That is completely off subject, but he was making a comparison between Tech and UT. I mearly pointed out that the student body at UT did not have a much larger proportionate representation of African Americans than Tech and this is correct but completely off topic here.</p>
<p>
[quote]
Instead of aiming for the best major, aim for the best school THEN aim for the best major you can get at that school.
[/quote]
</p>
<p>Why? Care to quantify why it would be a better decision to go to the "best school" possible? Seeing that you are a fairly new college student, I assume you have plenty of data to back up these assertations including NPVs and break even points of your various school choices.</p>
<p>I'll take the US Department of Labor's word over some guy posting news articles and BS survey's any day...</p>
<p>Accountants</a> and auditors</p>
<p>Employment of accountants and auditors is expected to grow faster than average for all occupations through the year 2014. An increase in the number of businesses, changing financial laws and regulations, and increased scrutiny of company finances will drive growth. In addition to openings resulting from growth, the need to replace accountants and auditors who retire or transfer to other occupations will produce numerous job openings in this large occupation.</p>
<p>Financial</a> analysts and personal financial advisors</p>
<p>Overall employment of financial analysts and personal financial advisors is expected to increase faster than average for all occupations through 2014, resulting from increased investment by businesses and individuals. Personal financial advisors will benefit even more than financial analysts as baby boomers save for retirement and as a generally better educated and wealthier population requires investment advice. In addition, people are living longer and must plan to finance more years of retirement. The globalization of the securities markets also will increase the need for analysts and advisors to help investors make financial choices. Financial analysts and personal financial advisors who have earned a professional designation are expected to have the best opportunities.</p>
<p>Also see:</p>
<p>Financial</a> managers</p>
<p>
[QUOTE]
Prestigious universities represent only a small percentage. for the MAJORITY, accounting is the better major in terms of job prospects. You cannot become a CPA with a finance degree (without extra work)..think about it.
[/QUOTE]
</p>
<p>Why would I want to become a CPA when I can become a CFA?</p>
<p>
[quote]
That is completely off subject, but he was making a comparison between Tech and UT. I mearly pointed out that the student body at UT did not have a much larger proportionate representation of African Americans than Tech and this is correct but completely off topic here.
[/quote]
</p>
<p>No, you accused that guy of only hanging out with "white frats" because he said he didn't see any black students there. Texas Tech is only 3% black, so there's a good chance he could go up there any day of the week, BY HIMSELF, and not see any black students.</p>
<p>It's pretty funny that a guy who's supposedly in a top 20 MBA program can't even do basic math or think logically.</p>
<p>That comment you made was actually pretty close to just outright calling him a racist.</p>
<p>
[quote]
Care to quantify why it would be a better decision to go to the "best school" possible?
[/quote]
</p>
<p>This is coming from someone who's supposedly in a top 20 MBA program? Whoa. You actually want to defend not-so-good schools?</p>
<p>Hahahaha. I think that says enough about you.</p>
<p>Better schools = more marketable</p>
<p>As far as success goes:
Finance Degree from a Great School > Accounting Degree from a not-so-great school</p>
<p>Not considering the different career paths of finance and accounting.</p>
<p>
[quote]
Seeing that you are a fairly new college student
[/quote]
</p>
<p>I've been out of college for years, you dolt.</p>
<p>GoGetta09, I agree. If someone is really serious about getting into business, they pretty much have to get into a good school. With a good school, there's not much difference in success between accounting in finance.</p>
<p>Sure, accounting is probably more marketable from a lower-tier school, but wouldn't going to a better school in the first place be a lot more marketable?</p>
<p>
[quote]
Why would I want to become a CPA when I can become a CFA?
[/quote]
</p>
<p>Isn't that a question you need to ask yourself.</p>
<p>Research what AS5 and think about what it MAY mean for CPA firms. And I note external auditing may slow, internal may increase, it is a new rule saying that external auditors need to rely on internal audit information more due to the extensive costs that have come about from sarbox, etc that smaller publics are having a tough time handling</p>
<p>Financial analysts should not be couple with financial advisors. If you read the specifics of your link, financial advisors will grow faster than average, financial analysts will grow at the average for all occupations. You obviously forgot to note that.</p>
<p>
[quote]
This is coming from someone who's supposedly in a top 20 MBA program? Whoa. You actually want to defend not-so-good schools?
[/quote]
</p>
<p>You are comparing apples to oranges. There are huge average salary differences between graduates of various MBA programs, and that is simply not the case at the undergrad level. </p>
<p>As an example, many top employers in TX recruit from all of the same schools (UT, A&M, Baylor, Texas Tech, Oklahoma, etc). The main value of an undergrad degree is that it gets your foot in the door. However, beyond that, your success if mainly based on perceived performance.</p>
<p>
[quote]
But who cares? Do you know ANYONE with a finance degree from a good school that is having a hard time finding a job? Do you know ANYONE with a finance degree who saying to himself, "oh, geez, I really screwed up my life by majoring in finance instead of accounting. I can't even find a job!"?
[/quote]
</p>
<p>Anecdotal, but true: a good friend of mine's son graduated from Texas A&M with a finance major, econ minor last May (3.4 gpa). He was initially hired by Merril Lynch in a training position, but was laid off along with many others this fall. He is now working at Macy's while he sends out new resumes.</p>
<p>The job market has tightened up a bit. I hope he finds a job soon, he's getting sick of living with mom and dad (and I think they are getting a bit tired of having him underfoot as well ;))</p>
<p>
[quote]
You are comparing apples to oranges. There are huge average salary differences between graduates of various MBA programs, and that is simply not the case at the undergrad level.
[/quote]
</p>
<p>But from the same business school, there is little difference between MBA graduates who majored in different undergrad programs. Otherwise, if BBA students were at an advantage, then we would see a lot more MBA grads with BBAs than we do.</p>
<p>All I'm saying is that you are not at a huge disadvantage if you decide to major in Engineering/Economics/Mathematics instead of a BBA and then get a MBA. In fact, I think it looks better on a resume because you studied more subjects besides business. A good, quality MBA is designed to carry you into the business world well.</p>
<p>
[quote]
As an example, many top employers in TX recruit from all of the same schools (UT, A&M, Baylor, Texas Tech, Oklahoma, etc). The main value of an undergrad degree is that it gets your foot in the door. However, beyond that, your success if mainly based on perceived performance.
[/quote]
</p>
<p>They recruit out of Rice, UT, and A&M more than the rest; the opportunities are greater for graduates from those schools.</p>
<p>I’m curious what a good major to choose if I want to, some day, become an investment banker on wall street.</p>
<p>Formidable is right. UT, Rice and A&M definitely give a leg up for opening business doors in Texas. There are dozens of colleges in Texas, but Bain, McKinsey and BCG don’t exactly look at Baylor and Texas Tech to fill their Houston and Dallas offices, and the energy trading firms aren’t inviting them to Houston to meet the VPs. A college diploma is becoming less valuabal because anyone can go to college if they want to, but if you want a job that demands you are the best, then you’d better believe they’re going to use college admissions standards to help screen job applicants. I once heard a recruiter say he liked top business programs because they’re “a prescreened pool.” If you’re in a program that isn’t going to give you that edge, you might want to go for a major that will give you a skill like accounting. I wouldn’t say you shouldn’t go if you don’t get into a good program for undergrad, because as the degree cheapens, it will become more expected that you have one.</p>
<p>jbreezy3, investment banking is finance. If your university doesn’t offer finance, economics is probably the closest.</p>
<p>Also, I have been doing some research and I have seen a lot saying you can not get to Wall Street with out an Ivy League degree. Now i understxnd that you can still get a job with a degree from other colleges, but how much harder is it if you do not go to an Ivy League school?</p>
<p>Plenty of Finance majors from “good schools” are unemployed/underemployed right now. Many of my friends who graduated from UT-Austin McCombs with stellar GPA’s (3.7+) and internship experience are unemployed or underemployed. The job’s just are not there right now. </p>
<p>There aren’t a lot of CPA’s out there who are unemployed. It does matters in terms of recruiting what school you studied at for Accounting, but as long as you can get your CPA, the advantage shrinks. Granted, top Accounting programs tend to produce more students who can earn the CPA, so that’s why BIG4, etc usually start there. </p>
<p>Accounting recruiting is also predominantly regional.</p>
<p>of course this doesn’t mean everyone should consider being accountants.</p>
<p>-Quote Navyarf, “It does matters in terms of recruiting what school you studied at for Accounting, but as long as you can get your CPA, the advantage shrinks.”</p>
<p>That’s one of the things I like about accounting.</p>
<p>Accounting is becoming a popular option in this economy. At UT-Austin, #1 in accounting, applications increased 30% to the 5 year MPA program (apply after sophomore year), forcing the program to reject more than 100 applicants, while in a normal year less than 30 will be rejected. </p>
<p>I personally know several students who came into B-school with their hearts set on majoring in finance and working in I-banking switch over to accounting as they watched and analyzed the big I-banks tumble in macro class :).</p>
<p>So it is a good major, if you like it, and are fairly good at it (usually one comes with the other). Take financial and managerial accounting and see what you think. I estimate that 80% of students do not like accounting. It is by no means for everyone.</p>
<p>I wanted to be very clear about accounting.</p>
<p>Yes, it can be a very good major for many types of jobs since accounting is the language of business. Yes, working for an accounting firm usually pays fairly well. Yes, if you make partner, you can make a LOT of money. In fact, making CFO or a director of a division, such as tax director, can make you a lot of money. HOWEVER: to make it in accounting, you need to have the following attributes:</p>
<ol>
<li>Be reasonably detailed oriented.</li>
<li>Be able to follow instructions,whether on audit procedures or tax return instructions.</li>
<li>Be willing and able to solidly work 8+ hours. Having a strong work ethic is VERY crucial.</li>
<li>Have a reasonably friendly personality since you are dealing with clients and staff of all levels. Being able to play the “company game” is always important in accounting firms and in corporations. This is also the way to insure that you get a constant amount of work. If you are not having sufficient billable hours, you won’t be retained.</li>
<li>Have a constant commitment to excellence. Thus, you would constantly try to improve your work and keep up on all the tax or accounting changes that occur in the profession.</li>
<li>Being able to learn from your mistakes: Everyone makes mistakes. However, you should be able to learn from them and not repeat them.</li>
<li>Have a great" can-do" attitude. Thus, if you get a call on the weekends or even while on vacation, you may need to spend some time finishing a project. This doesn’t happen often,but it does occur in all accounting firms.</li>
<li>Have reasonable writing skills. You don’t need to have the writing skills of an English major,but you will need to be able to write clearly written reports and letters.If you have atrocious English skills, you will have a big problem long-term.</li>
<li>Eventually, especially at the smaller to mid size firms, you will be required to bring in clients. Having an outgoing personality or one that folks can trust, and being able to market yourself will be crucial if you want to make partner with these firms.</li>
</ol>
<p>One final comment that I noted above: Accounting firms are VERY billable hour oriented. You should be able to meet your monthly budget in billable hours and be able to eventually complete a job within the budgeted hours. This takes not only efficiency but also takes constant updates with management in order to remain busy. Having strong billable hours is essential for law and accounting firms. </p>
<p>As you can see, working for an accounting firm is no easy task. It does take a “special type of cat.” However, if you do have these skills, you will find accounting a very prestigious and rewarding career.</p>
<p>Thus, you will need ALL of these factors. Failing any of them, will mean that you probably won’t succeed long term.</p>
<p>Admittedly, you won’t need to be as skilled in all these factors at a government job or even some corporate when compared to that of an accounting firm. However, to some extent, you will need all of these skills. If you are missing any of these, you might want to reconsider whether accounting is for you.</p>
<p>Thanks for all the info, and taxguy, do strong math skills come into play very often? Also the university I will attend has a top 150 business school in the US. I know that isn’t that great but I was wondering if anyone knew how hard it is to transfer into a top business school.</p>