I may be getting a little ahead of myself (I’m a second semester junior), but I can’t help but think about where I want to attend graduate school. As an accounting major who is determined to sit for the CPA exam, I would need an additional 30 credits after obtaining my bachelors degree; something a Masters in Accounting degree would fulfill.
For my undergrad, I decided to attend a SUNY school so that I would pay in-state tuition. Part of this decision was so that I have more breathing room when it comes to grad school. However, now I’m wondering if I should continue my education at my current SUNY or perhaps another SUNY, or sign the loans for an out of state school.
Here is some background info:
I will have 0 debt after my undergrad
I go to SUNY Albany which is said to have a great accounting program (I agree)
My parents are offering $5,000 a year for school, including grad school (I commute to SUNY Albany, so we only pay for tuition/books and the 5,000 covers everything)
I volunteer on my own time and actively participate with a club on campus; hopefully I will get a bid from the accounting frat this semester, which I’m hoping grad schools will consider
I also work part-time
I would like to know what parents think… The universities that I would like to apply to cost over 40,000 a year. If all goes according to plan, I will be able to get my masters degree in a year and take the CPA exam shortly after. So approximately, I would have 40,000 in debt, but I’d hopefully be a CPA at this point. I believe other state schools will give me an advantage in the working world compared to SUNYs… I listed my volunteer/work experience too because I thought maybe OOS schools would see this - combined with a good GPA - and they would cut the cost a little?
I do not believe it will be worth it monetarily. To have to borrow the money it’s especially not worth it If you or your parents have the money to buy you the OOS experience, and you so want it, it could be worth it.
Well my plan as of right now is to take a semester off after getting a bachelors degree and to study for the GMAT while working in a local accounting firm around Albany as to gain more work experience. Hopefully I can be enrolled in grad school by spring 2017.
The frat is actually a nationally recognized frat (Beta Alpha Psi), so I thought it might be somewhat useful on a resume, no?
I guess what I’m trying to ask is if a person went to say University of Illinois, would they have more job offers/better starting salary/better alumni connections, etc. than someone who went to a less known school? Would that justify OOS tuition?
Yeah, the ‘frat’ is a well-known national accounting honor fraternity - Beta Alpha Psi - with GPA and course requirements to be met prior to pledging. Public accounting firms hiring accounting graduates look for Beta Alpha Psi membership on the resume.
Does the Big 4 recruit at your SUNY school for internships and full-time employment after graduation?
My advice - since you are are a future CPA I think you may agree - live at home, take the $5k/year from your parents, commute to grad school and avoid $40k in debt!!
What GMAT score range is recommended for the commutable SUNY business grad school program? Can’t you take the GMAT without taking off from school for a semester, so that you can go straight to grad school?
Also, what are the CPA license requirements in your state? You may not necessarily need a graduate degree, just 150 credits. How many will you have when you finish undergrad? Are you including any AP credit from high school that your current college allowed? Maybe you could get the 150 credit undergrad in 4.5 years and not go to grad school - save more money and time.
Have you posted this question in the Business Majors forum? There are several CPAs who routinely answer questions there, and you might get more reliable advice.
My daughter is a CPA and works for a Big 4 firm. From her experience and those of her coworkers, the school at which one gets his/her BS or MS has no impact on starting salary; at her firm, every new staff accountant starts at the same salary. There does appear to be some value in the alumni relations and the strength of the alumni network, but much of that is regional - where do you want to live after graduation? What firms recruit at your SUNY school?
When my D was looking for internships, her GPA was by far the most important part of her resume (she had very few ECs or leadership experiences, but her GPA was awesome.) She had 3 or 4 internship offers, all from companies you’d recognize, but her university name is not exactly a household word… especially on either coast.
Thanks for the responses!
@Madison85 : It seems as though there is always a representative from each big 4 firm on campus. There are constantly emails sent to my inbox that notifies us when these reps are on campus.
I can’t find the GMAT desired score unfortunately, so that is something to look into. I wasn’t sure about the level of difficulty of the GMAT and if it would be a challenge to prep for it on top of studying for my courses.
I believe for my state (NY), I am required to obtain a masters degree in accounting/mba or have many years experience to sit for the CPA.
@scout59 : I will post a similar thread there to see what sort of responses I get, thanks!
I have thought about moving from my current state (NY) after college. I also thought about how the grad school I attend can play a role in my future environment. Something draws me to Arizona; if I wanted to live there, would ASU help land me a job there than a SUNY you think?
Please check your info on your state requiring a masters, that doesn’t sound right (but I don’t know NY), I believe it is just the 150 credits. Going on with education in an OOS school doesn’t only cost you more money to attend, there is also the money you will lose by not working that year. Are you looking at internships? I know most firms (even those outside of Big 4, and some really small firms) will cover cost of CPA prep if you are hired. Personally and fwiw, I think it is better to get to work and then work on masters through night school if possible. It is good to bring true business experience into your education, not just show up in business after education. Good luck, my S is also acct major, and will work for one of the Big 4 after graduation.
OP is in state and commuting to SUNY Albany. Full cost at most 4-year SUNY’s is ~$20k/year for residents, but only ~$6k of that is tuition. The rest is room and board.
OP, if you can graduate with no debt, I’d go that route. You can’t take more than $7500/year in loans for undergrad, so the OOS school is too expensive even with the $5k from your parents.
