<p>I am looking for input especially from those with Big Four experience. I guess I really have two questions:</p>
<p>1) I just graduated, and I currently have an internship for this summer at Deloitte in Houston. So I am hopeful that I will get an offer at the end of my internship. This fall, I either will take classes for one semester so I can take the CPA exam, or just go ahead and do the one year MSA. So my first question is, would it be worth it to go ahead and get my masters (concentration in taxation, which is what I will be doing at my internship) even if I am already hopeful of getting an offer at the end of this summer? Is starting pay at the Big Four any higher if i have an MSA in taxation if I'll be in tax at Deloitte? Is it possible that Deloitte will pay for any of MSA tuition if I have a full time offer at the end of the summer? And lastly, if initial compensation from Big 4 will not be any higher, and they will not pay for MSA tuition, is it possible that having an MSA could nevertheless be worth it in the long run as I branch away from public accounting at the Big 4?</p>
<p>2) My second question is this: I have already been accepted to the MSA (in taxation) program at Notre Dame Mendoza, and I am also applying to the MSA program (taxation) at the University of Houston. Of course, notre dame's program is much more reputable and supposedly better (ranked 6th this year), and of course, it is also more expensive. So would it be worth it to get an MSA at Notre Dame rather than University of Houston despite the cost? I guess this question is only necessary if the answer to my first question is "yes an MSA can be worth it"....</p>
<p>Thank you so much for your input, this is a big decision that I need to make in the next week or so, and any extra info is greatly appreciated</p>
<p>A MACC has almost no value. A Masters in Tax is a little more than a standard MACC but no much. Pay difference between people with a Masters and those without can be anywhere from $0-$3000. Basically, a Masters only holds the value is does because most people need it to get to 150 hours. Otherwise, MACC programs would not exist. Period.</p>
<p>Moreover, the prestige of a MACC is irrelevant for the most part. All you need to do is make sure that the B4 (or whatever firms you want to consider working for out of school) recruit the school. Save your money, IMO.</p>
<p>If you like your internship and they give you an offer at the end of the summer, take your one semester of classes to get tod 150. Use the next semester that you will have off to study for the CPA exam. You will be able to have multiple parts done prior to starting work in the summer or fall of the following year. This is literally the best possible scenario that anyone could ever ask for.</p>
<p>It depends on where you want to work when you finish your education. ND is a good option if you want to start your career in Chicago. Also, don’t ever underestimate the power of alumni connections from top schools. It pays dividends throughout your career. I’m not saying money is not an issue, but it shouldn’t be the only thing you take into consideration when deciding where to go.</p>
<p>A MACC is expensive as hell, and yet the difference in salary between those with a masters/those without is so miniscule. So then, how else would you guys suggest getting to the magic 150 credit hour mark? Could you do classes at a community college to save money? Or? It is pretty difficult to get all those credits in 4 years, even with summer classes.</p>
<p>Hi. I am new to the site but see a few questions relating to what I am going to ask and would really appreciate feedback as this site seems very useful.
I will be graduating in Dec 2012 with a BS in accounting. The CPA requirements is 150 hours. Since I am an accounting major, I already meet all of the accouting requirements and all I need extra is 19 hours to make the total credits equal 150(as I will have 131 hours from my undergraduate). They can be in any subject as I meet all of the accounting/business subjects for qualification to CPA. So my questions are:
- my school offers a MSA/BMacc program that I can get into easier if I apply and enroll before getting my BS degree (you cant enroll in the program if you have already graduated or intent to graduate BS). I still have to take the GMAT but I meet the GPA requirments and should get in to the program for Spring 2013. The program is 30 hours of which all are upper division accounting courses. Do I go ahead and get the MSA degree as I need 19 additonal credit hours anyway to qualify for the 150 credits towards the CPA exam? (these 30 credits would need to be in accouting upper level grad courses for the MSA of course and not just in basket weaving(I can take the 19 in anything)! And instead of needing only 19 I would be taking 30, at least 3 more classes. I know the MSA degree would help me even more than my BS accouting degree in preparation for the CPA exam. This is one major plus for doing the MSA route, but besides that is there any benefits for having the MSA degree? Cost is not significant as I should be able to get it done in one year and cost about $8K.<br>
- Or do I forget the idea of getting my MSA Dec 2014 and start interviewing instead and hopefully land a job Dec 2013 with my BS degree? All of the Big 4 come to my school as well as other great companies. But my question here is what then do I do to prepare for the CPA? Do I just go to community college on the side and pick up the other 19 credits I need? Those of you who went to work for Big 4 firms right out of undergraduate school with an accounting degree, do you know how they expect you to get the rest of your 150 credits so you can get your CPA in 1-3 years after school? Do their on the job training classes satisfy CPA credits? Do they expect you to figure it out on your own (take classes on the side) but obviously continue to work? What is the approach from the Big 4 for getting remaining credits towards the 150 CPA exam when you got hired directly out of college with a BS in accounting? The individual should have all their accounting/business CPA requirements met from their BS in accounting but will probably still need from 120-150 (up to 30 more credits) in whatever to get the 150 total credits. Do the Big 4 want the employees to go get an MSA/BMacc so they have the additional credits in a meaningul subject even if not needed, just get credits from a community college in basket weaving or what is the expectation?
- Do you think the benefit of if I could get a job in December with one of the Big 4 or any good accounting job and then work towards my CPA with the goal of getting it done in 1-3 years by taking the 19 credits at a community college while working has more advantages/future prospects/etc… than spending an extra year now getting my MSA, then sitting for the CPA, and then landing a job as I would of course have to work at least a year for a CPA before I could actually get my CPA. You may say it is a money decision as whether to go to work now or not, which I would understand but any other reasons for doing the MSA right after school or not bothering with it at all is appreciated. Unfortunately, I wont know if I have a job offer or not until Oct/December when I graduate and I have to decide on the MSA program by Septemeber.
- My ultimate goal is to get my MBA but I know I have to work at least a few years to 5 years to get into a good MBA program. I could wait and get my extra 19 credits then and take the CPA exam but not sure there is a time limit for when you can sit for the CPA after getting your undergraduate degree? I will find that out. I know working for some firms I would get a bonus and other advantages for having my CPA. So I guess my real question on this one is, much advantage except for a possible bonus of having your cpa 2-3 years after your first job or just wait till after I get my MBA to get my CPA? Or if I plan on getting an MBA, and not go the accounting route, I guess there is no advantage of even getting my CPA is there?
Thank You all.</p>
<p>WOW - its hard to read such a long post. I can’t possibly answer all those questions, but are here a few thoughts from a father/CPA.</p>
<ol>
<li><p>Do you absolutely need a MAcc/MSA - no. But, at the urging of NASBA, state’s are proposing more stringent requirements for the 150 hour rule. I can’t speak for all states, but Illinois has new rules effective 7/1/2013. The number of accounting hours is increased, number of business hours increased, new limitations on the number of hours allowed for internships, additional specific requirements for business ethics, business communication and reseach and analysis in accounting. However, a MAcc/MSA graduate from an AACSB accredited accounting program is automatically deemed eligible to take the CPA. Under the new rules, it will be much harder to qualify with AP credits and basket weaving or wine tasting classes from the community college.</p></li>
<li><p>While your state may not currently have such requirements, reciprocity is something everyone should be aware of. In today’s global economy, many people relocate for business opportunities. For example, today, four states (California, Colorado, New Hampshire and Vermont) are only considered “conditionally substantially equivalent” and two territories (Puerto Rico and U.S. Virgin Islands) are not deemed substantially equivalent by Illinois. This means you must go through additional measures and submit additional documentation to be considered for reciprocal licensure. When you are in your 30’s or 40’s, you don’t want to be trying to track down supervisors from 15 - 20 years ago, to have them document exactly how many hours you spent on various assignments!</p></li>
<li><p>If you can pick up a MAcc for $8,000 - do it!! (Assuming that you and your family are not destitute.) While there is not much of a salary bump for a MAcc, you will have a master’s and that can’t be taken away. Almost every undergrad business major plans to attend the big name MBA program, but guess what - life sometimes gets in the way.</p></li>
</ol>
all gs-9’s working in accounting for the govt. are required to have a master’s degree. the pay difference is much more than $3,000…and most of the positions are at the gs-9 level.