MSF or MACC
so I'm confused as hell on what to do. my initial plan in life was to get my BBA-Accounting, get a Macc, and get the CPA. Who ever I've spoken to suggests that is the best way to go, including my banking friends. They say things along the lines of accountancy being a skill and providing a stable and solid career. They also add to get a good MBA and move on from accounting later. The emphasis is on accounting being the base and the MBA pushing you in banking/consulting/PE.
I got my BBA as an accounting major and didn't do so well. why? I never enjoyed accounting. A masters degree is my only chance to do well and have a shot at top recruiting. having said that I currently work at a top F500 as an FA. I like it but corporate accounting is'nt my thing. I have too much of an interest in investments, ideally i would want to work in PE
My question is with the CPA would I better of, or should i just go for the MSF and hope to lateral from big 4 advisory somehow. MSF also means ill go for the CFA.
i might not be making sense..but with my accounting background what options would i have with an MSF for a decent opportunity in the investment world.
also, what obvious advantages would either of the graduate degrees provide. i.e advantage of doing a Macc and CPA and advantages of MSF and CFA?
all help is appreciated
Accounting is a nice, stable, career. The Big Four will give you a fairly easy life with time for a family and a six figure income. You would turn that in for research or trading in an imploding industry?
If you want to work in trading at a hedge fund, bank, or decent prop shop these days, you need to do an MSF, really an MFE, at the level of the following schools:
-University of Chicago -Cornell -Columbia -NYU -CUNY Baruch (no, I am not an alumn before anyone yells at me. They just have a great MFE program) -Princeton -Carnegie Mellon -Stanford -Berkeley -MIT
Even then, there's no guarantee on a nice, happy career like there is if you get your CPA. If somebody filed taxes last year, they will probably need to file taxes again next year. If someone needed to prove to investors that they had the books they claimed last year, they will probably need to do it again this year. But investors are leaving the stock market in droves. Credit Suisse noted that trading volumes have continued to decline from their 2006 peaks:
http://www.bloomberg.com/news/2012-05-31/broker-fees-for-u-s-stock-trading-fell-to-lowest-since-2006.html
Getting into this industry today is like signing up to work on the assembly line at GM in 1983 as folks are getting laid off and knowing that some of the worst layoffs are still coming. So are you sure you want to do this? Why not get your CPA, grab an MBA a few years later, and pursue a role in corporate finance and eventually land a job as a CFO?
Back this up with stats.
I can't speak for what the MSF will do for your chances in finance, but you can take classes in just about anything and still qualify to take CPA, you just need 150 hours and, if you have a BBA in Acct, you'll already have enough acct courses.
GPA might not hurt as much as you think, get the CPA and go for it. Big Four isn't a lock, but the industry does need bodies right now.
Hi there - I'm new to this forum though I've been following/reading posts for a while.
An accounting degree is very useful, but to break into strictly finance-related field (IB/PE/AM) with only an accounting degree, a relatively high GPA is important (3.5+), especially if you are looking to go BB or in the northeast among all the targets - just think of the caliber of your competition.
If banking/PE is what you want to do your best bet is to get the MSF degree in addition to your accounting degree and lateral over. Depending on school, the MSF is what will open the doors to banks and investment firms that recruit at each school. Attractiveness of different MSFs obviously vary depending where you want to work, but the top 10-15 MSF programs in the US (you can do a search for it - I know I've seen several posts in the past and they all tend to agree on the same ones) all have solid networks in terms of job placement, either nationally or strong regionally. Do your research based on your preferences and choose the one that aligns with your goals and expectations.
Can't speak much about the CPA, but I wouldn't worry about the CFA for now (unless you just happen to have lots of free time on your hands). The CFA isn't that important at the entry-level. Break in first before heavily investing time in studying for the CFA because it isn't a guarantee into the field despite what people think.
I was a non-finance major, took a great interest in finance following undergraduate studies, and am starting MSF this upcoming fall. There are actually quite a few accounting majors in my MSF program and most of them have 3.7+ GPA and 700+ GMAT.
MSF vs MACC (in need of guidance) (Originally Posted: 10/02/2013)
I just wanted to start off by saying this site is a great resource and everyone seems to be extremely helpful.
Background:
I graduated this year from a complete non target with a finance degree. My GPA was a 3.1 with a big upward trend. The last year my average was a 3.95.
I am currently working in a sales position for a major company where I have been since 2009. I am looking to reset my GPA and get another shot at OCR.(which was pretty much non existent for my major at my school)
My goal is an analyst position at an Investment Bank but I also would not mind a f500 gig.
What kind of GMAT would I need to get to be competitive at a school like Villanova for their MSF program? (Do I have a shot?)
I was also looking at Seton Hall because they offer a MACC for non accounting majors. It seems like they have decent recruiting for f500 and the big 4. (I would prefer to stay in the NYC area)
Like I said, I am looking to reset my GPA and get a real shot at OCR. If anybody has some suggestions and could point me in the right direction I would be greatly appreciative.
around 650 and you should be good
If you want to go the IB analyst route, or enjoy sales/non-cost center work - a MACC will not be your friend. Would a MACC feed into a f500 or big 4 gig? Absolutely; however, you should take inventory of the specific roles it lines you up for and whether that's a path you want to pursue.
I was thinking I would need a 700+ GMAT to be competitive to compensate for my GPA.
Yes, a MACC definitely would not help me get into an IB analyst position but that is back up in case I can't get into a decent MSF program.
As others have said....MSF for pure finance roles, Macc for corp fin or accounting focused roles.
With a 650 you'd be very competitive. Maybe even lower. You have a 3.0 overall with a high major GPA. Work experience. You should be fine.
I'd go with Nova over Seton Hall simply for the OCR and network.
Shoot me a PM if you want more info on Nova. I know admissions well.
@TNA
Sorry for the confusion. I have an overall GPA of 3.1 and my major GPA is 3.3. I was saying that there is an upward trend in my GPA and the last year my average was a 3.95.
Oh, ok. Either way not an issue.
If I can nail a 650+ GMAT by round 3 admissions, should I apply or am I better off waiting for round 1 admissions next November?
A 650 will be fine.
Breaking into IB with MS in Finance vs MS in Accounting? (Originally Posted: 09/16/2016)
I am a currently a senior in a non-target school, with a double major in Accounting and Finance, and a GPA that is above average (>3.7). Post-graduation, I am considering to pursue a Master's in Finance or Accounting. Which major is found to be more attractive by investment banks? Especially if the college is a non-target? If majoring in Finance is a good option, would general Finance make the cut? Or would concentrations, such as Financial Engineering be considered more marketable?
Any tips/advice/personal experiences would be great!
What matters most is previous experience, so if you have not had any investment banking internships, neither degree is going to do you much good in terms of IB recruiting. I would first and foremost try to get some internships under your belt.
As far as an MS in Accounting vs an MS in Finance is concerned, the MS in Finance will probably be seen more favorably as the work is more directly relevant and because the MS Accounting sends a very strong "I wanted to work for the Big Four, but then discovered that IB pays more, so now I want to do IB" signal, whether that's true or not. Remember, the MS in Accounting was created primarily to help students reach the 150 credit hour requirement for the CPA.
I realized a bit later that junior year of undergrad seems to be a big year to get those type of internships. Are there opportunities out there for IB internships after graduation?
MAcc vs MFin for Investment Banking (Originally Posted: 04/15/2013)
Coming from a non-target with a 3.8 GPA and 710 GMAT and degree in finance. If I am interested in doing IB but have no IB internship experience, what is my best route? Thanks.
I'm currently a junior so I still have some time.
MFin. The MACC only exists for students to meet the 150-hour requirement to pass the CPA exam. You should get some relevant internships, though.
Focus on getting an internship at this point. You have a ways to go before you need to think about this. Are you married to the idea of banking?
I have seen that some MAcc people at the top tier programs (UT, UM, USC, UVA) manage to land IB jobs but only through extensive networking. USC allows MAcc students to use OCR, which gives students access to some BBs and MMs in the area. Placement into IB is not prolific, most likely due to the fact that most MAcc students do a MAcc to get a Big 4 gig, as opposed to IB.
How is the Master's In Management compared to MFin & MACC ? Which do you think has the most versatility for financial roles ?
2009 Grad: Need advice - MSc Acc or Finance for IB? (Originally Posted: 10/16/2009)
Newbie monkey here, desperately need some advice from the veterans on the board, so I'm providing as much info as I think is relevant.
I graduated in May 2009 from a top 20 liberal arts school (north-east), majoring in economics and mathematics.
Cum GPA was 3.6. Coursework includes: Business/Finance: Corporate finance (B) Investments (B+) Financial accounting (A) Financial theory & analysis (A) International Business (A) Marketing Science (B+)
Math: Calc 3 (A) Vector Spaces (A-) Intermediate Probability (B+) Intermediate Stat (B) Math Modeling Case Studies (A)
Plus the usual economics/math electives and other liberal arts stuff. I'm definitely good at math, but I'm not the theoretical guy who can devise elaborate proofs in abstract algebra or real analysis. I think that puts me out of the picture for the quant focused programs.
I'm employed as an researcher at an economics thinktank. Not my cup of tea. IBD is more of my flavor. I managed to secure a few BB interviews, through well placed alumni, but didn't make it past the final round given the way things were for 2009 grads last year.
So now, I'm looking into masters programs for 2010 entry. I don't have a lot of money (nor do I make a lot), so funding is certainly an issue. I'm looking into programs in accounting as well as finance but I can't decide which is a better option. My goal is to land a gig in IB, but I wouldn't mind a Big-4 stint or consulting stint prior to that.
Question 1: Can you guys recommend what course of action should I take? Should I go for a MS in accounting, try my luck at some BB firms, as well as the Big 4? If BB doesn't work out, perhaps I can pursue my second choice - get a CPA and land something at the Big 4.
Or should I directly target IB by pursuing a masters in finance?
Question 2: I'm also thinking that the North-East is the best place to be applying for schools, because IBD or no IBD, I definitely wanna be in a big city - NYC, Boston, Chicago, DC, SF - all work. However, I'm thinking of USC, UNC and Vanderbilt as well. Any suggestions on schools?
How'd you get so many business classes at a liberal arts college? Study abroad?
Indiana is a semi target that has an online program. Could be right up your alley.
But, working during a masters in finance or accounting would be very difficult, with coursework and recruiting, i would not imagine that you would have the time to work
@Vermont_Pride; My school offered quite a few business classes. Its an exception among the liberal arts schools.
@TheFullMonte I'm not looking for an online program, and I'm not looking for part-time either. I'll quit my job (not much of a future here for me anyway) and enroll full-time in fall 2010.
At least for IB, whether you have a MSc in Finance/Accounting matters much less than whether the school you go to has good recruiting or not. Whether the Masters is at Wharton, UT-Austin, or a non-target is much more important than whether it is in finance or accounting.
This is mainly due to the fact that the value of getting a masters for trying to get into IB is heavily dependent on the recruiting capabilities yours school offers.
-Advisor
Academic & Corporate Interview Prep elitecollegeandinterviewprep.blogspot.com
msf vs ms acg for ibd (Originally Posted: 04/28/2014)
Hello fellow masters of the universe, long time follower, no time poster till now. I'm currently sitting in an airport writing on my phone, a year out of college, working in emr tech consulting. I finally realized im so far off the initial dream path, that I need to find a way to make a course correction. I don't have enough experience yet to get into a top 10 mba, but I am working on GMAT along with had a 3.3 double major in acg and finance from florida state university. Im debating on taking a masters in finance vs masters in accounting right now on what will have the best odds in getting into a bb ibd division. Im looking to apply to a series of good schools soon in both usa and London. Any advice on a. Which programs are best, acg vs finance and b. What programs would you recommend on both east and west coast (I live in kc so both directions are easy to move to).
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