[Jobless2CPA]

I realized that during this time of the economy, I would not guarantee a job even upon passing the CPA. So, I am actually thinking about going back to school to acquire either an MST or MS Accounting degree, but I have no one to consult with regarding making the decision. Does any of you fellow members know anything about these programs? Which program is better for the job market these days? Is school ranking important?

I thank you in advance.

[kts1010]

I personally would do the MS in Accounting unless you are really set on Tax. I think having the MS in accounting opens up more doors since now it gives you the option of both Audit/Tax. About school ranking I would say the better the school the easier to get a job because more of the big firms are going to be recruiting there. I personally was fortunate enough to get a job in Tax without having to get my masters, but I am currently studying for the CPA and working full time with maybe the plan to get an MBA one day. Just my two cents worth though, not sure what everyone else thinks

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[Jobless2CPA]

I have recently acquired an Accounting Certificate from UCLA extension. Unfortunately, employers don't seem to see the certificate as equivalent to a Bachelor degree, and having a bachelor degree in Structural Engineering which is totally unrelated to Business doesn't help either….

Despite having taken 2 Auditing classes and excelled in both of them, I however don't really think I have the character to be successful Auditor, nor I am particularly interested in being an Auditor. I have more like a tax accountant personality. (problem solving and less human interaction)

[Anonymous]

totally agree with kts1010 – accounting will keep more days open for you – unless you definitely want to work in tax then I'd go for that. A school that is AACSB may get you into a BIG 4 more easily but this is not a hard and fast rule – I know a couple of people who graduated from non AACSB schools that still got into BIG 4. I do see a lot of job postings that ask for this accrediation though – if you can afford it!

[Jobless2CPA]

Thank you for both of your help. I personally would like to be a master in both accounting and taxation, but I don't know if there is a program which curriculum encompass both of them. Based on my research, taxation classes are only offered as electives in most MS accounting programs. So, I assume there are not that many tax accountant positions available out there. Am I right?

Also, I think I am too old to get into any Big 4 firms…I am over 30 already, and I know Big 4 don't hire people over the age of 25 unless you have a law degree of some sort. I suppose getting a degree in MST which covers some legal aspects of the business would get me an interview with them at least. Maybe this is just wishful thinking. haha

[Anonymous]

I know several people that have done a Master in Taxation and have landed auditing jobs, even with the big4. I don't think earning a Master in Taxation limits you to only tax positions. There are also schools that offer Macc programs with a concentration in tax. That is what I am currently doing and even though I am interested in tax, many of my classmates have worked, are currently working, or will soon be working as auditors. So in my opinion, either a Macc or an MST can help you land either a tax or auditing position. Landing the job is more a matter of networking than the degree you are aiming for so my recommendation is choosing the right school instead of choosing the right Master's program (as long as it's related to accounting).

[Jobless2CPA]

Thank you.

[Jobless2CPA]

Any other suggestions and recommendation? I appreciate all of your help!

I am currently living in California and am thinking of applying to a school out of state, possibly a school in New York due to its better job market and availability of entry-level accounting positions. I think I will have to take out a private to finance the education. (a big one)

[Anonymous]

I went the MST route and once I started the program I realized I wanted to work in Audit. When going through the recruiting process many firms saw the tax knowledge as an advantage when working in audit and I was offered positions auditor positions. I don't think either route will really limit your options.

Also, I wouldn't say school ranking holds much weight either, but I would research which firms recruit at the university because it will make all the difference when looking for a job.

Good luck!

[Anonymous]

I graduated this year with an MSA and found it funny that the MST students couldn't understand why I would want to come back to school if I wasn't going into tax. With over 20 years in financial accounting, I have no desire to do tax.

Just being accepted into the MSA program opened up doors for me. I increased my salary 20% the first year I was in school. Now that I've graduated, I am making 33% more money than I was before. While I did love the MSA program, I think either the MSA or MST would open doors for you.

I concentrated on financial accounting courses, taking every one I could get and took finance courses as electives.

I guess it depends what you want from your career. If you want to do tax, get an MST. If you want to go into audit or financial accounting, I'd do an MSA. There are a ton of audit classes, so while I focused on financial accounting, you could do the same with audit.

[musicamor]

I do not believe the MS or MST is beneficial to those who wish to remain diversified in their career. For example, if one desires to be a CFO of a large, publicly-held corporation in their future, the MSA and MST would be looked down upon because of how specific the degree plan is. That said, an MS in accounting is probably the better route; however, an MBA would probably be most beneficial. Just my two cents.

Texas CPA - licensed in 2012!!!

[Author]

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