Considering quitting/going part time to pass exams and masters degree. Thoughts?

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  • #176921
    Troutman85
    Member

    Hey everyone,

    I’m looking for opinions on possibly quitting or going part time to study for the exams and get a graduate degree.

    A little background information, I’m 27 and have been working in public since I graduated from undergrad for about a year now. It’s been a great experience and I’ve learned a lot. I’ve been studying for FAR since September of 2012. I’ve taken it twice now with a 66 and 71. Since the 71,I’ve completely changed my study habits and I feel I will be successful come May when I take it again. Being truthful, I’ve found it very difficult working a lot and being constantly exposed to something new every day and then sitting down and squeezing study time in. Lately I’ve been contemplating taking a year off of work to finish the CPA’s and to get a Masters Degree or MBA. I wouldn’t quit my job just to take the CPA as I feel I could manage to juggle work/studying as I’ve gotten a better feel of how to study and what I’ve done incorrectly. However, I don’t see how I could throw grad school into the mix and be successful. I do enjoy what I do and feel life in public would be MUCH less stressful if I could knock out the CPAs and grad school and be done with it.

    My current thinking is that it will be a good strategic move to take a year off and finish graduate school and the exams while I’m young. I have saved up a considerable amount, and would be able to stay with supportive family. I would definitely be willing to work part time, and I’m going to ask the partners if thats a possibility. If not, I still think it’s worth it as the graduate degree and passing the exams will follow me for life

    So, I’m curious if anyone has ever made a similar move or any feedback at all. Thanks!

Viewing 13 replies - 1 through 13 (of 13 total)
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  • #408109
    J
    Member

    I resigned from my full time public accounting job in the middle of November 2012 for several reasons, but predominantly to concentrate on the CPA. I was also teaching a couple of classes and doing some other work in the meantime, and I just didn't have the time or energy to devote to studying.

    For me, it was a GREAT decision. I actually am teaching a full-time load this semester at a local community college, but have plenty of time (and the ability to organize my time as I wish) to study. I've found that if I get 2-3 quality hours a day of study time, that works very well.

    Of course, your decision might be a little different than mine considering that you like your position… I absolutely despised where I was and dreaded going there each and every day, so it was a fantastic decision to keep my sanity as well!

    #408110
    Anonymous
    Inactive

    My firm lets me cut my hours in the summer to study. I worked only three days a week all last summer. If your firm lets you work part time – and you like your job – I'd try to do it that way if I were you. It's tough to get into a firm and the experience is unbeatable- it's tough to give that up. You're really smart to try and get through your MBA and exam while you're young. Doing this married with kids is so freakin hard… it's now 3:30 in the morning and I'm about to hit REG chapter 5.

    #408111
    mla1169
    Participant

    Just as an FYI, it is possible to work f/t, be in grad school and knock these exams out IF its what you want to do. The nice thing is you're talking about a year (hopefully) of your life that will be crazy, and the rewards of surviving that year are well worth it.

    If taking a year off is financially possible, (and you are comfortable with the fact that re entering the workforce may or may not go smoothly) then sure go for it! I just worry when I see so many “I thought it would be easier to land a job with a CPA” posts.

    FAR- 77
    AUD -49, 71, 84
    REG -56,75!
    BEC -75

    Massachusetts CPA (non reporting) since 3/12.

    #408112
    MustPass1988
    Member

    I dont think there is any way it would be possible to take the CPA Exam, go to grad school and work full time in public accounting. I mean even if you wanted it to work and tried your hardest and was willing to give up a year of your life, there is literally no way it could work. What would you do during busy season? You couldn't just take 3 months off. I don't know if you travel at all, but I traveled a lot for my firm and I could barely find time to study let alone throw grad school on top of that. I wouldn't have even been able to make it to classes 70% of the time! Taking a year off doesn't sound half bad. The CPA and an MBA are definitely worth it.

    AUD: PASSED [81]; Expired, retaking August 23rd
    BEC: PASSED [83]; Expired, retaking July 11th
    REG: PASSED [83]
    FAR: FAILED [64]; Retaking May 23rd

    #408113
    mla1169
    Participant

    Mustpass, I wouldn't say it can be done if I didn't know it for a fact. I did not work in public, but I had a f/t job (50+ hours a week) plus a part time bookkeeping job, plus grad school, plus 2 kids, 2 dogs and a house. If somebody is driven enough it certainly is manageable.

    Trust me it can be done if a person is motivated enough.

    FAR- 77
    AUD -49, 71, 84
    REG -56,75!
    BEC -75

    Massachusetts CPA (non reporting) since 3/12.

    #408114
    MustPass1988
    Member

    @mla1169- not everyone has your situation however. If I were to choose to do the CPA Exam plus grad school plus full time in public accounting, I wouldn't be capable of it because of the travel requirements at my firm. So it really depends on someone's situation not how motivated they are.

    AUD: PASSED [81]; Expired, retaking August 23rd
    BEC: PASSED [83]; Expired, retaking July 11th
    REG: PASSED [83]
    FAR: FAILED [64]; Retaking May 23rd

    #408115
    mla1169
    Participant

    Anything is possible, given the right mindset.

    FAR- 77
    AUD -49, 71, 84
    REG -56,75!
    BEC -75

    Massachusetts CPA (non reporting) since 3/12.

    #408116
    Keely
    Member

    I have to disagree with MLA, it is not always possible for people to do multiple things at once. I cannot imagine working in public, going to graduate school, AND studying for the exam. Congratulations to you for being able to do that, but I don't think that's the norm. Even if it were possible for the OP, I wouldn't think he would want to do that. It sounds horrible, honestly. I would much rather forgo one of the choices and keep my sanity than drive myself into exhaustion. Troutman, I am your age and graduated a year ago as well. I did not take a job until I had taken all the exams (found out I passed my last one after I'd been at work for a few weeks). If you want to quit to concentrate on grad school and the exam, I think that's what you should do. Just be aware of the tradeoffs and decide which is more beneficial for you.

    BEC: (4/2012) 88
    AUD: (5/2012) 91
    REG: (8/2012) 82
    FAR: (1/2013) 78 🙂

    VA CPA #42010

    #408117
    Tncincy
    Participant

    Well sometimes it's how work is defined. If you have a demanding job, it might be difficult. Then there is the rest of your life….I Know grad school was difficult for me with 4 children, husband and running my own business. I did manage to finish strong but it entailed a lot of late nights, early mornings, and very little sleep with a spotty social life. I could barely attend Sunday morning church service and focus on the message without wondering did I get everything done. I tried to add the cpa exam during grad school and my advisor suggested to wait and I am really glad I took the advice because trying to study for the CPA exam and Final exams would have been a disaster. But my advisor said it would be too hard to give 100% to the exam and she was correct. So I am passing on the advice (my story) that it will be hard to give the CPA exam 100% study attention and finish grad school at the same time. It can be done but you might not like the results or the financial consequences.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass

    It begins with a 75
    Been here too long as a cheerleader....ready to pass

    #408118
    mla1169
    Participant

    Please don't misunderstand. Tackling everything at once is not ideal, or fun, or even good for you. But somewhere reading this forum is someone who is tired of being told that something is impossible, and needs one vote of confidence that they can do whatever they set out to do, despite all the naysayers. I always have been and always will be that voice.

    I'm in no way shape or form telling anyone what they should do, only what they're capable of if they choose.

    FAR- 77
    AUD -49, 71, 84
    REG -56,75!
    BEC -75

    Massachusetts CPA (non reporting) since 3/12.

    #408119
    Troutman85
    Member

    Thank you all for the responses, I do appreciate them! Let me say I DO think it's possible that I could work full time, study, and attend grad school (one course a semester). I should say part of the reason for the push for grad school is the firm implemented a 150 credit hour requirement for all staff, so there is a push for staff to get their 150.

    That being said, would I really want to subject myself to that is the question. I think part of the issue is the stress/hours at the office I've been working at. The office recently merged with a large firm about a year ago, and many have left due to the merge. It's been a great learning experience as I've been exposed to much more than first year staff normally would be. However, busy season was 4-5 months long and it's difficult being exposed to so much at work and then trying to study at night.

    I'm starting to also consider asking for a transfer to one of the larger offices. I won't get the experience I have now, but life would be much more structured as they have defined busy seasons and staff responsibilities.

    Thanks for listening to me vent guys, I appreciate it.

    #408120
    MCLKT
    Participant

    If we did all the things we are capable of, we would literally astound ourselves.

    -Thomas A. Edison

    A:[73]97 F:[74]85 R:86 B:[74]82
    *NINJA 10 Pt. COMBO & Yaeger*

    #408121
    Anonymous
    Inactive

    I don't know if this has already been mentioned, but see if you can take an online program to get to your 150 hours. That would give you more flexibility and breathing room while working.

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