Happy hump day,
I'm planning on applying to full-time MBA program this fall and need some advice about getting my CPA license. Post MBA I'm hoping to go into corporate strategy/corporate development, but it's possible later down the road I'll end up back in corporate finance given my prior experience.
Right now I have all the requirements met to become a licensed CPA in my state. The question is, should I? I don't by any means want to work in accounting in the future and I don't want to brand myself as an accountant. Any advice is appreciated.
So.....ultimately your call. I wouldn't pass on a certification like that lightly, but understand your dilemma.
I work in CF and don't have my CPA. In talking about career development, my CFO says there's no real need to have that (I've talked about developing into a CFO-level candidate, she says I don't need it assuming the organization has a strong controller)
I've looked at a number of high-level finance roles that say MBA or CPA. That said, some smaller groups will run everything through HR and will instantly recognize a CPA as a "finance person."
In my healthcare organization, we have a few CPAs that sit outside of the finance function (risk management, internal audit, compliance). We actually don't have anyone in the finance function who are currently CPAs (controller included).
I personally would get the CPA to have it as a "badge," but look to your MBA (since you are doing this anyway) to hone your focus outside of accounting.
Just my $0.02
Appreciate your thoughts! It's definitely a plus.
In my experience, a CPA will never hurt you, as it can be used as a complementary signal depending on the type of resume you've put together. But it isn't necessary either, particularly if you'll have your MBA. In your shoes, it would come down to how badly you want it vs. how much you can live without it. At my F50, I'd say more of the Finance Leadership have MBAs than CPAs, and the ones with both aren't really treated much differently than those with one or the other.
Yeah I have definitely seem more MBAs versus CPAs in my experience and as the previous poster noted, jobs often look for someone with a CPA or MBA, not necessarily both. That being said, it does provide a leg up on most and provides some credibility.
If studying is going to get in the way of your studies, absolutely not. The CPA isn't really relevant to either your goals or your backup plan and takes a significant time commitment to prepare for.
I think you misread what I posted. I have everything done in terms of requirements for the CPA. All I need to do is file the paperwork, pay the fee, and wait for the license. I passed all of the exams in 2015.
I think I misunderstood this as well...I thought you were wondering if you should take the exams etc. as I read requirements to mean you had 150+ hours.
Pay the fee and be done with it. It may not help you much depending on where you land post-MBA, but it absolutely won't hurt. I wouldn't pass on that simply for the registration fee. In the long run, that fee will be incredibly short money.
and again...look to your MBA to refine your focus outside of accounting.
In this case, why wouldn't you? Let's say most jobs you're interested in require one or the other (MBA vs CPA), but there is a select few jobs that specifically require the CPA, why not eliminate the chance that you aren't a candidate?
If you've made it to the finish line may as well cross the damn thing. A CPA isn't some window dressing credential it will make you stand out, and so long as your resume isn't Accounting focused moving ahead it won't hinder your chances at other finance gigs.
This is what I'm thinking. Thanks for the common sense haha.
Chiming in here - recently hired for a corporate development position. Multiple people with CPAs were considered - we never dinged someone for having a CPA, as long as their resume positioned them appropriately for the job.
If you do get the CPA go work for the Big 4. My experience is the Big 4 experience is more valuable than the CPA. When I look at the companies in my industry, Oil and Gas, CFO's are mostly deal guys and the accounting team is stacked with CPA's. I would assume that is the case with most publicly traded companies.
Pay the fees once and be done with it forever - it's a respected credential that can only help.
I guess I read the post as he hasn't taken the CPA exams and would still need to complete those. Certainly if he has passed the exams then why not.
So you did all the work to study and pass the exams and weren't gonna get licensed? Just pay the fee and move on. You know it can't hurt you to have it. If you really don't want it after a bit, just don't keep up the CPE. Or you can get licensed and not list it. And why not stand out amongst your peers?
I have my CPA and don't do accounting. I went through an internal debate about dropping it last time around because of the CPE requirement but decided it was a nice addition to resume. While it will never (hopefully) be directly related or required by any job I hold, I think its just something else that gives you a little bit of credibility, especially when applying cold to a job.
Sounds like we are in very similar situations. Yes the only deterrent to getting licensed are the CPE requirements, but after reading some of the advice on here I think I will go ahead and get licensed since I made it this far and I can always let it expire further down the road if the CPE becomes too big of a hassle. Appreciate the advice everyone.
I love guys here from econ/finance backgrounds who think the CPA is just a walk in the park. FAR and AUD have pass rates of like 40 percent. Both of the exams test an extraordinary amount of material- and good luck understanding/passing audit if you have never seen a working paper irl before.
EDIT: just checked the CFA pass rates and they are approximately the same as the CPA rates, but then again there are 4 sections in the CPA and only 3 in the CFA. My point is, it's easy to talk about passing the CPA, but the test isn't just something you are going to blow through. 12-18 months of your life are going to be consumed by the exam.
Cool your jets bro. I passed all 4 exams within 6 months of each other...
As someone who is a CPA and just sat for the L2 of the CFA, I can tell you there is absolutely NO comparison between the two exams. The CPA was a joke in comparison... the CFA L2 tests everything on the CPA (minus tax law) + all the finance topics.
Eskimo Brothers, get your license. There is no reason not to. I am in an unrelated field but have pulled in business simply because of the credential. Renewal costs are neglible, and you don't need to join AICPA. If you play it right, you can write off the expense of your CPEs on your taxes... couple it with a decent trip (find a course the weekend of a friend's wedding) and your hotel / travel can be tax deductible as well.
Appreciate the advice. I'm planning on submitting my application this week. Thanks!
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