- This topic has 18 replies, 9 voices, and was last updated 4 years, 5 months ago by Anonymous.
August 24, 2016 at 9:04 pm #820083AnonymousInactive
Job-wise, starting pay-wise, mobility-wise, and flexibility-wise?August 24, 2016 at 10:22 pm #820176MaLoTuParticipant
Are you asking from the perspective of an entry-level employee? The answer would be basically no for all of them. However, if you have a CPA license I assume you are speaking about with some experience. It may give you a little advantage for acquiring a job and for pay, I am really not sure about flexibility … I assume that has more to deal with your role in the organization.
Overall, I do not think the small gains received by having a MACC outweigh the investment of time and money. I have an MBA and an MACC, but I only did them because my BA was not in business or accounting and I needed the credit hours for the exam and license. It did not really help me get a job.August 24, 2016 at 10:34 pm #820200DParticipant
TL:DR—– Job-wise? No. Starting pay-wise? Yes(at least in industry for sure) Mobility/Flexibility-wise? IMO, not really, but with an MBA, yes.
If you already have your CPA now, you need to really think about what you want to do with your career. Do you want public or industry? If you want to go into industry (which is the only one I can speak for), my advice would be do an MBA for flexibility. Having an MBA and CPA is golden nowadays.
I have my MAcc and only got it because I knew I needed 150 credits to sit in Texas. Its great to have my Master's degree, however if I could do it again I may have tried for my MBA instead since I don't feel the MAcc is really recognized like an MBA.. and MBA is much more broad focused.
Pay-wise: Are you located in a large or small city? When I graduated 6 years ago and started in industry in a big city, w/ MAcc but no CPA… I entered in at a higher job grade (graduate level) and around $20K more per year than those w/just an undergrad who had their CPA. So, if you are in a big city, going into industry, and you're new in the workforce, it would definitely help.. any business graduate degree really.
However, I've also seen my company hire experienced CPAs, NO graduate degree, at really good salary levels too (because they are considered “experienced/professional hires” and not fresh out of college). Not sure if that's you, but something to consider.
TL:DR—– Job-wise? No. Pay-wise? Yes. Mobility/Flexibility-wise? IMO, not really, but with an MBA, yes.August 25, 2016 at 12:31 am #820299
Englishman471. How did you do on REG? Score?August 25, 2016 at 1:29 am #820311AnonymousInactive
I got a 76 🙁 just like on FAR. Wish i could do better, but at least i passed..August 25, 2016 at 6:49 am #820359AnonymousInactive
I think @TXCPAGAL12‘s experience is not normal, to be paid $20k more to do the exact same job, simply because she had a Master's degree, in industry. Usually additional credentials for the same job are more likely to lead to additional pay in public (if they can bill you at a higher rate, then they'll pay you a higher rate) or government (since government usually has pay rate tiers and you qualify for each by a variety of factors – something like CPA or Master's likely bumps you up a tier, even in the same job). Most industry positions, though, pay based on the work you're doing, not the qualifications you have. So, the way additional qualifications earn you more money in industry is by qualifying you for better jobs. You're more likely to get a job as CFO with the CPA/MBA combo than with just a Bachelor's, and CFO pays a lot more than Staff Accountant, but they don't pay more cause you're a CPA/MBA, they give you the CFO job cause you're CPA/MBA and when you're doing CFO duties, that pays more than Staff Accountant duties. Hopefully that makes sense.
That being said…the biggest advantage I would see to a MAcc/CPA vs CPA only would be simply fulfilling job requirements that require a Masters. However, a Masters more specialized in the area you want a career in would be more useful. MBA would be the “more specialized” option for a career in industry – even though an MBA is more broad than a MAcc, it's the more standard option in industry, so it's the “specializing” choice for industry. A Masters in Tax would be the specialization choice for a career in tax. Etc. If you wanted to teach (at a college) in the future, a MAcc would probably be the way to go. I'm not sure if the CPA/MBA combo would qualify you for teaching accounting at a college or not (though I plan to ask the academic dean at the college I work at one of these days…). But, teaching is about the only place that the generic MAcc seems potentially superior to a different Master's.August 25, 2016 at 8:05 am #820392
@Englishman Congrats on passing REG!. Pass is pass. I remember you saying that MCQS were not very difficult compared to FAR. What do you think about REG sims? Were they difficult or manageable? Any advice since I am also using BECKER. I will be sitting for REG exam next week?August 25, 2016 at 12:12 pm #820707reallytiredParticipant
I got my MAcc to sit for the CPA too and I truly believe that if we didn't need 150 credits in Nevada, I wouldn't have gotten it. It was useful because I had a governmental/nfp class and that was beneficial for FAR and a few other tax classes that have helped me thus far for REG, but other than that, it was kind of a waste for me. I also agree that a MBA is so much more beneficial and sought after than MAcc! If I wanted to dedicate more time to school (which I definitely do not) I would go back and get my MBA!August 25, 2016 at 1:35 pm #820794ultrarunnerParticipant
How about getting MS Taxation after CPA? Will it be helpful for CPA who wants to get into tax?August 25, 2016 at 1:44 pm #820809MissyParticipant
Honestly I don't think the ROI on a masters is worth it (and I happen to have a MACC). Usually the value of one comes from going to a top tiered school which also happens to be very pricey. There are bound to be some employers like TXCPAGIRL's who do feel there is value added and will compensate accordingly but I don't believe that to be the case for most employers. In fact most employers in industry have a compensation range determined before they even start interviewing, and are bound to their budget. Its rare that the deciding factor in who gets the offer comes down to a graduate degree but again it is possible. Having one may put you toward the higher end of their determined range but other factors like specific experience trump all the degrees and credentials in the world.August 25, 2016 at 2:50 pm #820884DParticipant
To emphasize the ROI topic- I didn't attend a “top tier” school and got in-state tuition so my Masters degree cost me about $15K (student loans). So my payback was more than worth it and I consider myself very lucky, because a vast majority of my peers who went into public didn't see the same ROI.
However, as she says many places have a set budget they are willing to spend and will focus on experience and credentials, not how many degrees you have. CPA will be enough to get you any position you want that a Masters degree would, IMO.August 25, 2016 at 3:43 pm #820944AnonymousInactive
All you need is a CPA to help with job flexibility and pay. Most people just get a MACC to get to 150 credits. Where it does help with jobs and slight pay increases is if you do not have a CPA. As far as candidates go, Non-MACC < MACC < CPA…you get my drift. If you can pass and get licensed, it's not worth the money to get your MACC. Even cheap programs now are 15K. Also worth mentioning a MACC from a second rate school is worthless to employers but they're the cheap programs so take it for what it's worth and getting a MACC from a decent school now starts around 20K.August 25, 2016 at 5:48 pm #821127AnonymousInactive
IB553 – thank you! Yes, FAR's MCQ on the real exam were much harder than REG's. The simulations for REG also felt a bit easier than FAR. I honestly didn't know some of the SIMs but got through them using the Authoritative Literature tab. MAKE SURE TO USE IT IF YOU DON'T KNOW SOMETHING. It basically has all the answers in it if you know how to use it and narrow down your search. I had a question about exchanges with commercial substance and it helped a lot.August 25, 2016 at 6:14 pm #821184
Thanks Englishman. The question which you mentioned is from FAR or REG?August 25, 2016 at 7:00 pm #821244AnonymousInactive
That's REG. Questions about exchanges with commercial substances exist in FAR too, but they're more about exchanging “objects.” The ones in REG are about securities passed on and inherited by people. make sure to know those gains and stuff.August 25, 2016 at 7:11 pm #821259August 25, 2016 at 7:15 pm #821262AnonymousInactive
It seems to be R4.1
Please note: just because I got questions on my exam from that chapter does not mean you will. And besides, I only have like 2 or 3 of them on there. 1 was in a SIM.
You may get an exam that doesn't have any of this at all though. That's the difficulty of the CPA 😉 you don't know what you'll get.August 25, 2016 at 7:19 pm #821268
Ok. Thanks!August 25, 2016 at 7:37 pm #821274AnonymousInactive
np! let me know if you have other questions!
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