<p>My D is a liberal arts major with a late-blooming interest in accounting. She wants to take the CPA exam (we live in New Jersey). She can’t switch to accounting now without transferring to a different school and taking a fifth year of undergrad, so she is looking into post-grad MBA in Accounting programs. We are trying to figure out the most cost-effective way of doing this. Here are some of her options: 1) She could complete most of the coursework for the MBA in accounting program at an AASCB- accredited regional private near where we live without paying tuition because she is eligible for tuition remission there until she is 25 (my spouse works there). 2) She could live at home and commute to Rutgers, which also has an MBA in Professional Accounting program. It’s a higher ranked program and has better recruiting, but it’s not free and would require her to take out some loans. 3) She could attend an MBA program at a very expensive private university such as Fordham or Northeastern. We’d have to pay her living expenses because it would be too far to commute. I really don’t want to do this unless there is some major advantage to doing so. All of these programs are full-time so she wouldn’t be able to work enough to make a real dent in living expenses. How important are rankings, etc. in this decision? Free would be nice but not if the degree would be seriously less valuable. She’s only a junior so we have some time to think about this. Any insight/advice would be appreciated.</p>
<p>I’m living this situation right now. S was a political science major at a LAC, decided his senior year he didn’t want to go to law school and landed on Acctg. LAC had no business school so, not only did he need the extra credits to sit for the CPA, he needed all the undergrad accounting coursework. He is finishing his first of 2 years at Rider- going for MAcc, not MBA. Not sure why, but a relative who is a prof of acctg advised that a MAcc is preferred over an MBA.
He got his own internship at a regional acctg firm so the prestige of institution didn’t matter so much - wasn’t looking for placement help. If she can fight for her own internship/job, I’d chose option 1.</p>
<p>“She could complete most of the coursework for the MBA in accounting program at an AASCB- accredited regional private near where we live without paying tuition because she is eligible for tuition remission there until she is 25 (my spouse works there)”</p>
<p>Looking at the list of school fitting that profile, any of them would be perfectly acceptable. So I would choose this option. And pardullet makes a good point, go for the MAcc.</p>
<p>Thanks @pardullet and @geo1113. Why is the MAcc preferred? Is is better preparation for the CPA? I have no knowledge of the accounting field.</p>
<p>If I recall, there are only two AACSB accredited schools in NJ specifically for acctg (Rider and Seton Hall). Schools that may be AACSB accredited generally, not acctg specific, tend to offer MBA instead of MAcc - Monmouth, Rutgers. I’m not sure it makes much difference but it seems MAcc is more seriously viewed by acctg professionals.
Frankly, by the time you’re finished, the courses will probably look quite similar with either degree.</p>
<p>The basic idea of the MAcc is to assure that the requirements for earning the CPA designation are met.</p>
<p>Thanks. The free program would be an MBA in Accounting as the school in question does not offer the MAcc. And its AACSB accreditation is most likely just general, not specific to accounting. So I’d guess she’d have to weigh a free degree against its lesser value in her goal of becoming a CPA. </p>
<p>The Rutgers program she is interested in the MBA in Professional Accounting on the Newark campus (<a href=“MBA in Professional Accounting Curriculum | Rutgers Business School”>http://business.rutgers.edu/pamba/curriculum</a>). From my brief searches, there are Masters in Accounting programs in South Jersey/Philly area but we live in North Jersey and the commute is a concern. If she were to end up paying for this degree, living at home would really be preferred. </p>
<p>If it’s free, it’s for me! Good luck.</p>
<p>Definitely free is the way to go.</p>
<p>I would go for the private regional university or Rutgers – the other choice don’t seem worth the money/loans. And IMO (I’m a CPA) there is no real difference between getting a MAcc and a MBA or a MS in accounting – you just need the required classes to sit for the CPA exam. </p>
<p>I’d look at the following factors. First the cost clearly points you to the regional private university. for free But before making a final decision I’d take some time and have your D check with both the Rutgers and your regional university office of career placement to see if the big firms recruit there and try to get a handle on their placement statistics. Also check with the accounting department in your regional university to see how long it will take your D to complete the program. Lastly, see when classes are offered and if that matters to your D (some schools have masters classes primarily at night as a lot of working part time students attend).</p>
<p>As far as I know, the Rutgers MBA in Public Accounting is a pretty unique program in that can be done in around 15 months – two summers, fall and spring semester so your D will go through a program that has daytime classes with peers and in one calendar year she could be working. Without this program it could take 2 years to get the accounting degree which is fine and she could do a summer internship as well (just depends if time is an important factor in the equation). </p>