Which school for accounting?

I want to go into banking. I've come to a point where I'm thinking of going back to school for a masters in accounting next fall, to get a shot at recruiting. I'm a class of 09 grad, so I'll have 1 yr work experience going into school(economics related, but not finance).

I've shortlisted a few schools, I want to know what you guys think about the overall reputation, recruitment prospects, prestige, opportunities etc:

  1. UNC Kenan Flagler
  2. USC Marshall
  3. Vanderbilt
  4. GWU
  5. Boston College
  6. UT Austin
  7. UVA McIntire
  8. UMich Ann Arbor
  9. URochester Simon
    10.Wash U St Louis

I'm looking to apply to about 6. GMAT is 740, GPA 3.6, undergrad from a fairly reputed liberal arts college in the NE.
Thanks a lot.

 

08 07 Ranking Public Accounting Report (Accounting Graduate Programs)

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Best Response

Since you want to go into banking, the school with the most banking alumni is the obvious choice (whether they are from the undergrad or MBA). Michigan and UVA seem to be the two best options. UNC, USC, and Texas probably follow but I'm just guessing. Now if you wanted to become a CPA, your choice wouldn't matter because they all offer a standardized curriculum. (Then I would just say go to the cheapest program located closest to where you want to work, since Big 4 recruiting is mostly regional.)

I know that Michigan's MAcc is a good program, and while most still like to go into the traditional disciplines (audit/tax), a handful every year do go into banking or strategy consulting. You can also take MBA or even law school courses as a MAcc student, so you have the chance to demonstrate interest in finance.

If you came from an LAC, you might also be interested in a masters in finance. Have you thought about that?

 

Yes, I have thought about masters in finance. The MAIN reason why its not high on my list is because it seems to me that a masters in accounting would open more doors i.e if banking doesnt work out, I can get a CPA and go for big-4 audit or transactions services. Please let me know if my thinking is flawed.

Another reason why I would think masters in finance is less suited - even though I went to a LAC, my school offered a whole bunch of business classes. I took corporate finance, investments, financial accounting, financial theory. There is a fair degree of overlap with most masters finance curriculums.

Also - I only have 1 yr work experience, in a research setting. I neither have the money nor the experience to get into a top MBA program. If I thought I had a chance, I wouldn't waste my time on getting a masters. Correct me if I'm wrong. The whole point of getting a masters is to get a foot in the door on Wall St.

 

No, your thinking isn't flawed. A MAcc will give you the 150 credits to sit for the CPA in case things don't work out. (Good thing you're willing to take a Big 4 because that's where MAcc recruiting focuses most on.) And yes, a masters in finance is basically like an undergrad degree in finance, which might not be worth the time if you know most of the topics. Again, I think Michigan and UVA are your best bet. The other options might be try to break into the investment industry by taking the CFA exams, or continue with research-related work for a few years before trying to get an MBA.

 
jaclee317:
No, your thinking isn't flawed. A MAcc will give you the 150 credits to sit for the CPA in case things don't work out. (Good thing you're willing to take a Big 4 because that's where MAcc recruiting focuses most on.) And yes, a masters in finance is basically like an undergrad degree in finance, which might not be worth the time if you know most of the topics. Again, I think Michigan and UVA are your best bet. The other options might be try to break into the investment industry by taking the CFA exams, or continue with research-related work for a few years before trying to get an MBA.

depends on how quantitative the Msc Finance is

There are several European Msc finance programs that go substantially more in -depth than does any finance undergrad or MBA (basically, only a PhD delves deeper)

to wit:

Oxford, Bocconi, LSE, Cambridge, HEC

I mean we are talking econometrics and in-depth fixed income security/derivatives analysis

note: I didn't mention Princeton, CMU or those other programs b/c they are more akin to financial engineering and require C++ and are intended for engineers/physics/comp sci majors.

 

Don't forget about UT either. I am currently at UT doing the masters of accounting program. From my experience (been here since fall began) the program is great and the opportunities that you have are plentiful. I think the main reason for this is that Texas is such a large state with two huge cities dallas and Houston, and because of the reputation of the program, the majority of businesses in these two major cities come to UT to recruit. . As far as getting a job in banking, all of the major banks and top consulting firms recruit here and the only caveat is that the program is a fall spring and summer and the majority of banks like to hire analysts that will graduate in spring. This is mostly the case with the top banks but 2nd tier are a little more lax on start date. However, they all (GS, MS, Bofa, Bain, and all the others) offer summer internships and if you got one then you would com back in the next fall to graduate and start full time (assuming you got a full time offer) after december. Also as far as the accounting route there are plenty of jobs too if the banking does not work out.

So like I said earlier the majority of jobs are from Houston or Dallas, and you should know primarily focused on oil/gas/energy but that being said the GS internship that is being offered is for NY and there are a few other top banks offering IBD internships for NY and during full time recruiting a few other reputable banks were offering full time positions in NY and Chicago.

Also as far as costs go, I have similar stats to you GMAT: 730 and undergrad GPA:3.8 and was able to get almost a full scholarship coming straight from undergrad. Plus Austin is just generally an awesome city and if you are looking to eventually move back to NE, living in Austin for a year would be a pretty cool experience.

 

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