[ParanoidAndroid]

I’m already a CPA, but I’ve been thinking a lot about going for my Macc so I can get a real job. It seems like that’s my last resort. I already have 12 Master level credits, but those credits would not transfer because I plan to attend a different university due to its prestige and networking opportunities. The program costs $28,000 and runs for 10 months on Saturdays only from 8am-6pm…2 hrs away from where I live…

Does this seem a reasonable idea or am I losing it? =P

CPA for life...

[ParanoidAndroid]

@mla1169…I'm only searching for public accounting positions…May be I have a childish or stupid mentality, but it has never crossed my mind to work for something other than public accounting..

CPA for life...

[mla1169]

Neither childish nor stupid…but still you should be able to find job listings, talk to recruiters, do some research and see what % of CPA's in practice have their graduate level degree. Honestly if you're already a CPA, at the very least look for something with tuition reimbursement and do the Masters for your own sense of accomplishment on someone else's dime.

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

Massachusetts CPA (non reporting) since 3/12.

[Anonymous]

Going to UF's Macc program on a Saturday I'm not sure how well that will help you. Most the networking goes on during weekdays at like 4-5 through BAP. The MaCc alone won't help and Saturday classes won't help with networking I don't think. Florida is a terrible market all around terrible including the accounting market. I'd either go for a degree that can combine with accounting like IT to do IT auditing or figure out how to leave the state.

[ParanoidAndroid]

@UF can suck it then….but I was not talking about UF…You're the second person who tells me Florida sucks balls for accounting..

CPA for life...

[Anonymous]

You are in Florida and said “prestige of university” but no university in Florida is prestigious only UF gets close.. Anyway my description of university networking applied to all university. You should know that. Unless you just want to go to the career fair. But events like meet the firms and other networking events are weekdays. I say that about Florida because I'm in Florida and from my own experiences and those of my friends I know it's an awful place. I'm trying to get to Texas or California

[Anonymous]

I don't post often on here, but I felt compelled to address this topic. The truth is that you can be successful whether or not you get this degree. Everyone's life comes with unique circumstances. For some people it will be the right decision, for others it would be the wrong decision.

I beg you not to take the advice of strangers on the internet, specifically the ones who don't know what they are talking about. Information based on PERSONAL EXPERIENCE, like what Jaimcpa posted is useful. I would advise you to speak with people in real life who have already gone down the path you are considering (successfully). I would find out the job placement statistics from the program you are considering. Do they have 100% placement? Are the students placed into big 4 firms?

I see ROI being discussed in this thread and the lack of numbers accompanying it. Here is a completely reasonable example. Suppose you complete the program and get a job with a 55k salary. You will have made back your original investment in less than 2 years. Even if you remain at 55k for the next 40 years, you will have earned a 2100% return on your investment. Numbers are usually not necessary because the ROI is so obvious.

The honest truth is that both your 40k salary and 28k tuition bill are SMALL numbers. For someone to say that you shouldn't do it because the tuition constitutes such a large portion of your salary is simpleminded. This is a “little league” mentality. With a mentality like that you are destined to remain mediocre. If you want to play in the big kids sand box, you have to make sacrifices.

I do not know whether or not this is the right decision for you. Perhaps it isn't. Perhaps you should consider a different degree as someone stated. All I am saying is that so many of the responses on here should be disregarded. Please seek advice from SUCCESSFUL people you know and respect in real life.

[Jaimcpa]

^ Jeff check out that post. Those.

FAR- 73, 10/07/2013
REG- 8/31/2013
AUD- TBD
BEC- TBD

MAcc
Main: Becker Self-Study 2013. Supplements: Ninja / Wiley TB / CPAExcel (Bought before I received an offer).

[mla1169]

“Numbers are usually not necessary because the ROI is so obvious.”

LOL. Perhaps the most ironic thing I've ever read here.

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

Massachusetts CPA (non reporting) since 3/12.

[nashville79]

Jeff – great response.

[Jaimcpa]

Mla I think he is referring to the qualitative factors out weighing the quantitative.

FAR- 73, 10/07/2013
REG- 8/31/2013
AUD- TBD
BEC- TBD

MAcc
Main: Becker Self-Study 2013. Supplements: Ninja / Wiley TB / CPAExcel (Bought before I received an offer).

[MintsRGood]

Yikes…perhaps now wouldn't be the best time to mention that I received my alumni news letter from my MAC program which had a lovely article about the new tax course offerings in the MST department and I started thinking that maybe it would be fun to get an MST after CPA! I really do love tax!!!!

Then I could be MintsRGood: CPA, MAC, MST…..my husband told me that the CPA exam has severely altered my concept of fun and that I am nuts! 😉

REG: 75 DONE 🙂
AUD: 61, 71, 68, 92 DONE 🙂
BEC: 76 DONE 🙂
FAR: 72, 74, 79 DONE 🙂
Licensed Michigan CPA 🙂
-Some people dream of success...others wake up and work hard for it!!!
-The cowards never start and the weak die along the way!
-You better work, b***h!
-Only those who dare to fail greatly can ever achieve greatly.-JFK

[mla1169]

So, what exactly are the qualitative factors, out of curiosity? I've got my M.S. in Accounting FWIW, and I'm genuinely curious what those are?

The original poster presented as if he felt the M.S. would give him an edge in a job search. I'm not convinced that's true. I've never seen any statistics indicating CPA's with a Masters are more marketable than CPA's. As for networking, its highly unlikely that a masters program is more effective than any other means of networking such as joining Toastmasters or attending meetings of your state board. And as for making friends, there are infinite other avenues to achieve the same.

So those aside, which quantitative factors outweigh the qualitative?

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

Massachusetts CPA (non reporting) since 3/12.

[Allergic2CPA]

@ParanoidAndroid

Since you mentioned you know people at CPA firms, then why not ask them if getting a Master’s in Accountancy helps any given that you have your CPA already? Try to figure out why specifically they don’t respond to you. Is it because you don’t have a Master’s or lack of experience?

You need to do a few things.

1) Find out if not having a Master’s is what is holding you back. Someone mentioned that the Florida market is horrible. Maybe you’re in the wrong place because no opportunities exist there. Figure out if you’re willing to move to find yourself the right opportunity.

2) Find out if once you have your Master’s, what a reasonable increase to your salary is and which Master’s is more beneficial: the MACC or MBA.

3) Make sure that the increase in salary is directly tied to having a Master’s and not just because you happened to be using the networking resources of a prestigious school. Reason being is because you can use different networking tools that won’t cost $28K.

4) Figure out if the increase in salary over X number of years is worth the $28K like the example of earning an extra $15K for the rest of your career, which sort of makes sense. This assumes that there is a position you qualify for offering such salary and you get hired for the position.

5) And as CPAExamlsTooEasy said…talk to those that have been successful going down the same path you would like to go through to help you figure out the above items.

Here is something else to keep in mind. Do you want to be in PA forever? If not, it’s been my experience that you need a Master’s outside of PA for management positions. I know that’s the case with me. If I hadn’t received my MBA, then I would be stuck in my $38K job. I decided that the MBA was best for me since I figured that the CPA is all that mattered for Accounting positions but a Master's is required for management positions even within the Accounting field outside of PA.

FAR 46*, 77
AUD 70, 79
BEC 67, 82
REG 75

Texas License July 2013

Used Yaeger lectures based on Wiley textbooks

*Studied less than two weeks, forgot I had purchased NTS.

[Anonymous]

My post was actually not referencing qualitative factors. I was discussing the ROI exclusively in regards to quantitative factors. The reason I say it is obvious, but numbers are not required is because it is easy to see the positive impact it has had on the careers (and earnings) of people I know in real life, without measuring it out to the penny or hundredth of a percent.

There are qualitative factors involved, but everybody values them differently, so it is pointless for me to discuss them with strangers on the internet.

[Jaimcpa]

Mla if you have to ask that, that's sad. Most likely you didn't take advantage of your time during your program. Social events with your cohort, recruiting events (exclusive to master student, where recruiters from all major public accounting firms pull from), job placement tools, you name it. I wont even mention the friend thing.

If you want a detailed list ill make one later, though I shouldn't have too. I don't need to justify my reasoning because I gave my own experience. I felt like this program has been its worth its weight in gold and if I had my cpa and I was considering an advanced degree, I would weight both qualitative and quantitative factors. And yea, I'd care more about the qualitative regardless of my financial position. Doing that has worked extremely well for me.

FAR- 73, 10/07/2013
REG- 8/31/2013
AUD- TBD
BEC- TBD

MAcc
Main: Becker Self-Study 2013. Supplements: Ninja / Wiley TB / CPAExcel (Bought before I received an offer).

[Author]

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