Since this is largely anonymous, I’m sharing the name of the university I attend.
I have a Bachelor’s of Accounting from University of Houston-Downtown with a 3.4GPA. I have 10 total years of relevant work experience. Recruiters dismiss my degree, I’ve gotten no call backs. I am facing bankruptcy by 2025 if I’m unable to bring my income up. 2025 is simply a deadline to break out of my current income-debt ratio, if I’m unable to I’ll simply throw in the towel. (89k debt, 55k income, not including the upcoming student loan payments for a balance of 22k. Previously I made 82k and was laid off without warning/priors/or performance issues.)
I have noticed my counterparts with a Master’s in MIS or a few still enrolled with an AA in Computer Technology have had recruiters reach out to them. They have 2/3 years to no work experience.
I have done my classmates work before and understand the concepts. I would be interested in a Bachelor’s in MIS. I no longer have an interest in Accounting, the passion is gone. I can attempt a Master’s in Accounting or get my CPA but I would struggle through it as it is difficult to pay attention to something that has caused so much dissatisfaction.
Would it be worth it to return to school to obtain a Bachelor’s in MIS?
Would my job prospects improve with a MIS degree or is the job market shifting in poor favor?
If you have ten years work experience, why not get an MBA with MIS concentration.
If you can get into a top MIS school like U of Arizona (less competitive MBA), it would help. MIS is not CS - it’s typically housed in the b schools. They’re showing $107K starting salary but you should ask the school - or any school - for specific info but it’s their top major. Minnesota and ASU might be two others - but I think harder to get into.
That said, that will add to your debt, etc. No matter what you go to school for, it will cost you.
Accounting is one of the most employable degrees - so I have a hard time believing you have no prospects. Have you been to the career center? Have you applied on different accounting websites?
You are facing bankruptcy and your solution is to stop working on the off chance that MORE educational debt will save you?
No.
You can get a side hustle working as a tax preparer, get a CFA by self studying, get a certificate in data analytics…heck, even a cheap coding academy will boost your earning potential more than another bachelor’s degree.
You need to network NOW… anyone you ever worked with, to get a better job and get out of the hole. If recruiters are unresponsive find out from a trusted colleague what is wrong with your resume. Go back to U Houston career development and ask them to help you network, improve your resume, enhance your LinkedIn profile, access their alumni job database.
You need to find a job counselor or a head hunter. 100% of the graduates with accounting majors had jobs at the U of Denver this spring. News piece on how places are desperate for accountants as there aren’t as many majoring in it.
Get a job, have your employer send you to grad school/CPA school. Don’t take on more student debt.
I think that you have more of a spending problem than an income problem. I am assuming that non of your $89k of non student loan debt is due to real estate. You were likely deficit spending when you were making the higher income.
A masters/bachelors in IT would help in the long run, but an entry-level job might not be much more than what you’re making already. In fact, it could be the same or a little less. It’ll take several years of work experience to see the kind of salary you’re looking for…plus it’ll add debt as well. That’s not to say it’s not a good solution, but it won’t solve your immediate financial problems. A masters can take 3 years, because you’ll probably have to take a bunch of leveling courses to catch-up to the graduate level. Not all masters programs do that, though. Tarleton State is a masters program designed for people switching careers. I can’t advise any further, since I’m not a financial planner or attorney.
With an MBA with an MIS from a top 50 school, he’d be in six figures. Normally you need to work two years after graduation but OP seems to have 10 years experience.
What evidence is there in the OP’s profile that suggests he’s a candidate for an MBA from a top 50 school? And why would you advise someone who is facing bankruptcy to take on MORE loans to get an MBA?
I write above that I would do an mba b4 another bachelor and I noted the issue of cost and debt occurrence in my first message. I made the MBA comment due to the 3.4 and 10 years work experience. He’s an older student, not traditional.
He’s an accountant. I can’t imagine not being to get a gig.
My nephew went to UNLV. Day traded 4 years. Came back. Had 4 or 5 entry level offers in the 70s. Accounting is the golden major. I noted this too.
This is from my first post.
“That said, that will add to your debt, etc. No matter what you go to school for, it will cost you.
Accounting is one of the most employable degrees - so I have a hard time believing you have no prospects. Have you been to the career center? Have you applied on different accounting websites?’
That depends on the area he lives in. Salary is relative, based on living expenses. And high amounts of student debt can easily offset potential gains, and his DTI ratio can make it very difficult to get private loans, especially if he’s facing potential bankruptcy. Plus MIS and accounting are two different fields, which could require the OP to start a career all over again. Speaking from experience, it’s not that easy.
He hasn’t passed the CPA exam, and he doesn’t really want to do accounting. My guess is, he’s been in banking/finance and got laid-off due to interest rates.
One doesn’t need a cpa. My nephew, out for years and no job, just snagged $75k plus from a retail hq. Entry job.
If you get an mba in MIS from a top50 mba (with summer mis internship), assuming a good economy he’s getting six figures even with no formal MIS experience. That’s what companies have to pay to get MBAs from reputable (not top 20) schools. But again how do you pay??
Ideally he gets a job in accounting now and because a hole has been dug, he fries up donuts at Dunkin on the weekend for $16-18 an hour because of you have a hole, you have to bust tail to get out of it.
But to OPs question - it wasn’t how can I pay ? So while it’s been discussed it wasn’t his question.
It was a second bachelor or Masters and to me, it’s clearly the Masters.
