Current Job Not Challenging, Master in accounting worth it to supplement?

Monkeys - looking at getting some feedback on pursuing additional designations due to lack of stimulation at work.

Background: nearly 4 years in corporate & commercial banking, undergraduate business degree from top20 private with top10 undergrad business school, 3.9 GPA.

I've currently hit a point in my career where things have slowed down for me and I am not learning much if anything at all in my current job. Previously worked at a top corporate banking industry vertical at a BB (great experience) but needed to relocate for family reasons. Took a job at a super regional but there was a big disconnect between my role as advertised and my actual role so I ended up moving to another super regional bank.

Issue here is the team is very flat and lacks junior support that is typical in bulge brackets. In my last role, I was an associate responsible for 3 analysts who would handle the analysis while I would run the overall execution process, due diligence, help with difficult aspects of analysis (modeling guidance, etc.) In this role there are no analysts and I am doing analyst work all the way through VP work. Unfortunately, where we are in most deals, there tends to be much more analyst type work (credit memo writing) than VP work (structuring - you only do this as Left Lead bank). From having done the analyst role at a top BB, there isn't much more I can learn from primarily writing credit approval memos and it was done at a higher level at my Bb.

So I've been here nearly a year and am looking for additional ways to stay engaged as some of my analytical skills are getting a bit rusty given caliber of work is not as high as I am used to in previous roles. At this point, I do not want to pursue an MBA as it won't help me in my current career and I'd rather save it as a career reset if I am not where I want to be 3-5 years from now. I am very pleased with my undergrad background and have a stronger grasp of accounting / finance concepts applicable to banking than most of my peers. However, one of my future goals is to work in strategic finance on the client side - either in an internal M&A role, capital markets / financing role - interacting with banks, raising debt, etc., or potential strategic FP&A. The issue with this currently is I would need to take a pay cut as such roles would pay CPA designation as it would be relatively easy to get given my existing accounting coursework & potential masters. Full disclosure the degree and CPA designation would not really help me in my current job but I am considering given it is relatively easy to obtain and my hours are not too long (9-6 most days) and would be another feather in the cap but feel this would be something useful for strategic finance roles and help set me apart from competition. The only downside is that the UNC degree would cost ~40K (some merit aid is available but competitive).

What do you monkeys think? I've considered the CFA as well but the time horizon is too long given I would like to be at another job sooner rather than later and there is uncertainty regarding time commitments of potential new role vs. CFA. Additionally, CFA is less relevant for my target roles.

 
Best Response
PiratesSayARRR:

I don't think the MAcc and the CPA will help you land a role in strategic finance. I think you would be better off going the MBA route. I work for a tech company in strategic finance. I'm also seeing more and more predilection towards the CFA charter within corp dev and strategic finance roles.

I'm a CFA charterholder and MBA.

Thanks for the feedback. I agree, did not think CPA would be super relevant for my current job or strategic finance, more along the lines of picking low hanging fruit for incremental designations to augment my existing credentials. I'm not sure how long it'll take to transition out of this role but don't really want to be here for longer than another year which would have been enough time to take masters/pass CPA. I could also go through Level 1 of the CFA during that time but only worry is I potentially transfer out of this into IBD / Syndicated Finance and would not have the luxury of time to continue with the CFA. I've been doing some networking for strategic finance roles but am worried that comp may not be high enough yet for someone with my years of work experience relative to banking.

 

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