Hey so I am on track to graduating with just a BBA in Finance but I was thinking of doing a program where I can get my BBA stay an extra year and graduate with an MS in Accountancy and take the CPA.... I also want to (eventually) take my MBA... HAs anyone done this before... what are the pros and cons?
Thanks
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It has been done before.
Being a CPA is nice, but it is mainly useful if you are on public accounting or you want to be the Controller of a company.
All of it depends on what you want from your MBA. If it is to advance in the accounting world, I think you are wasting a ton of money there. If it is to get into a IBB or MBB (or similar path), I am not sure if these accreditations, MS Accounting +- CPA help.
All that being said, you will not get into a top MBA program without work experience (about 3 years).
Let me clarify--- I would graduate with an MS in accountancy... I want to go into IB or st in Finance... but I also dream of one day being an exec of a company and feel the accounting degree would help a lot...
I would definitely work before getting the MBA...
Only get the MS accountancy if you can't find an acceptable job now. That way, you will have an extra year of recruiting. If you manage to get a good job now, forget it.
Y is that?? will it not be helpful to havbe in the future... The reason I ask is becuase I already kind of had an extra year because I went abroad in between high school and college.. As a contingency plan it sounds great... but what about as a primary plan would the benefits be there?
Do you have 150 credit hours? Having a CPA is always a good backup- and you can make a lot of friends with coworkers around tax time, but you can meet the requirements part time at most community colleges.
If you have a solid job offer from a non-CPA firm, I say take it and worry about getting your CPA later. If you have an undergraduate business/finance/accy degree, the best thing you can do for your career right now is spend some time in industry- assuming you have equal oppurtunities in academia and the business world.
My Dad has a national reputation for derivatives taxation, has worked with most of the traders on the CBOE, CBOT, and CME at some point over the past 35 years, and generally gets to pick his clients today; he got his Accy MS at DePaul while he was working full-time in Chicago. If you really want to do accounting, getting an MS part-time at a moderate college isn't going to be a hit to your "prestigiousness" or business reputation, especially when the two best schools in the country for Accy are state schools. (Us state schoolers were never that concerned with prestige in the first place.)
bump
Do you want to be an accountant? If not then why bother? It's an extra year, extra debt. Assuming you get a halfway decent offer you would garner 70K salary, 10K sign on bonus and end of year bonus. The opportunity cost is staggering even if the degree is free. Don't do it.
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