I'm an Accountant - do I pursue a MSF, MBA, both, or neither?
Hey all, accountant here (yes, feel free to make all the jokes you want). I'm looking for some advice regarding B-school and figured this would be a good place to ask.
For a little more context: I just graduated from a state school, am a freshly licensed CPA, and work as an Audit Associate for a Big4 firm. I like the field I'm in and the job I do, where I am constantly learning and being challenged - not unlike high finance (although for half the hours and half the pay). You get to see the intricacies of how massive, well-recognized companies operate (albeit mostly from a financial reporting view).
I say all of this to show my affinity for my current role, but also recognize the uncertainty that the future holds. I could see myself aiming for Partner, transitioning to industry to reach the C-suite, or leave for more finance-oriented roles (with my preference for the former 2 options). Less than 2% of those who start in PA make partner, and of the 98% who leave, 93% leave voluntarily and the other 5% simply don't make the cut. While I am still very early in my career, I want to proactively set myself up for success by developing a large toolset with which I can utilize as I advance, develop expertise, and as life happens (a large driver for many who end up leaving PA). With all of this said, I now get to my question...
I love school, as my choice of profession might suggest, and I've known now for a while that I want to get my Master's (preferably from a more well-known school, though likely not M7), if not for my professional development then for my personal development/achievement. The MBA is the most popular and obvious choice, however, in school I was very interested in finance and became heavily involved in my school's student-run investment fund/finance club, which lead me to look into a Masters in Finance (MSF). My undergrad was solely in Accounting and Stats, so I'd love to deepen my knowledge of this complementary field. Unlike my Big4 counterparts in consulting, we in Audit don't get full sponsorships for MBAs so I'm interested in a part-time program - largely funded by myself, any available scholarships (if anyone can speak to this I'd love to hear your experience), and the measly (relative to the total cost) non-taxable employer education benefit of $5,250. However, the part-time lock-step programs don't allow for specialization, and I would love to deepen my finance knowledge beyond the basics provided in these types of programs. At the same time, the MBA provides the broadest range of opportunities as I advance in my career, so I am at a loss. Another option might be to pursue both degrees part-time, one after the other, if it was feasible financially. Or perhaps I should pursue neither, and supplemental or non-traditional education suits my needs best and my CPA license and PA experience will carry the rest.
All of this is a very long-winded way of asking your thoughts on whether I should consider pursuing an MBA, Master's in Finance, both, or neither, and any other suggestions you may have.
Thanks for your time everyone.
- A Very Nerdy Accountant
Tl;dr Big4 Accountant with an interest in finance not sure what grad degree, if any, to pursue - MBA, MSF, both, or neither
FT MBA T20 or M7 - whatever top school you can get into.
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