MACC cost reaching new insane level!

CPA Exam Review CPA Exam Forum Accounting Careers & Designations MBA & MAcc MACC cost reaching new insane level!

This topic contains 14 replies, has 13 voices, and was last updated by Roll Forward Specialist Roll Forward Specialist 1 week, 5 days ago.

Viewing 15 posts - 1 through 15 (of 15 total)
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  • #2262432

    cpa1982
    Participant

    Vanberbily University Macc program cost $56000.
    Univ. of Syracuse online Macc program for who have bachelors in accounting cost $1559 per credit X 30 = 46,770
    Florida atlantic university – master in accounting – Forensic and Business Valuation track online or campus (total 14 classes), $3200 per class. Total $44880.
    University of North Carolina at Chapel Hill – MACC – $1446.36 X 36 = $52068.96

    Why our government keep handing out loans like candies? Student loan bomb has reached $1.5 trillion and there is no end to it. Why they have to keep raising tuition when they have pre-recorded lectures and you can access anytime? This way professors don't have to come to class every week so what's change?

    Those who have done MACC program, did your job prospect improved? Did you had a chance for internship? What advice do you guys have for someone who hasn't worked in corporate or accounting firm for 12 years and looking to get back into field but hasn't passed any CPA section? Let's face it , CPA exam is tough and can take months or years to pass the 4 sections. I spoke to few college recruiters and they said the same thing that online MACC programs don't offer any internship but you can take advantage of career advisors.

    #2262444

    Skynet
    Participant

    The cost is the reasons why don't plan on pursuing it for a while.

    I had considered getting an MST at Golden Gate Univ. but it is about $50,000.

    A majority of CPA's have told me that it is much better to pursue the CPA instead because of it's earning value compared to the MACC.

    I would say try to stick it out with the CPA exams.

    AUD - 90
    BEC - 78
    FAR - 84
    REG - 87
    World Domination Plan

    Phase I : Pass CPA Exams - Complete
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    Phase V : TBD

    #2262456

    cpa1982
    Participant

    I have hold off doing MACC for long time because of cost. It doesn't make sense to blow out so much money and still no internship, no networking opportunity at campus. Running family business has almost killed me. Took BEC year and half ago and failed. I have a hard time keeping myself motivated and stick to the routine. Sometimes I feel wish I had done full time MBA and went into finance or real estate.

    #2262594

    RoseMarie
    Participant

    It all depends on the program and your own situation. My entire college education cost me less than $40k which was an AA, Bachelors in Accounting, and then my MAcc program. And that's total loans including what I lived off of, used to pay my rent/car payment/health insurance (mandatory for my college and couldn't be on parents) etc.. I worked hard in undergrad to graduate with a 3.99 and got scholarships along the way plus an offer to be a teaching assistant throughout grad school which has led to tuition waivers for a lot of my actual class costs. I think I paid less than $5k in actual tuition/fees/books for my MAcc. I also got great internship opportunities and did a busy season tax internship and already have a job for when I graduate with my MAcc in May. It may not be Vanderbilt or a school like that but it gave me everything I needed and more so I am very happy with my decision to get my MAcc.

    FAR - 11/05/18 - 92

    BEC - 12/04/18 - 95

    AUD - 2/27/19 - 96

    REG - 4/17/19

     

    #2262864

    My MAcc cost around 17 thousand. However, my employer reimbursed 5 thousand per year, and the university gave me an extra 15% off my tuition because so many of my co-workers went there. In total, I paid around 4 thousand total for the degree. I think I paid about $330 in interest (should have been zero but I guess it accrued for no reason)

    With that being said, Vanderbilt is insanely expensive but you are pretty much guaranteed to become a CPA and find a really good position in one of the B4. Deloitte is the main recruiter for that campus I think.

    AUD - 75
    BEC - 77
    FAR - NINJA in Training
    REG - 76
    Currently studying for FAR
    #2263050

    OspreyNate
    Participant

    I didn't realize the MACC at some schools were so much. I got my MACC from Auburn University (online) and it was <$25k. Looks like right now the total program cost is $26,250. I really enjoyed the program because I was just able to watch the class lectures from home according to my schedule.

    http://harbert.auburn.edu/academics/online-programs/master-of-accountancy-online/program-costs.php

    I work in the private industry, so I wasn't concerned about getting an internship out of the program. However, I have gotten quite a bit of recognition from my previous employers and during interviews for getting a degree from Auburn. In the end I think my current employer was more concerned that I had my CPA, but my classes at Auburn did help me prepare for that journey as well.

    AUD - 86
    BEC - 86
    FAR - 89
    REG - 85
    Cool

    Calm

    Kill it

    #2263104

    GoCart
    Participant

    My personal recommendation is this: if the MACC is necessary for you to meet the education/hours requirements of the CPA for licensing in your state, then do it. If not, I wouldn't. With you having so much experience, I would say to just pursue the CPA. From my experience, most employers do not care about the MACC. They'd rather you have the CPA.
    I didn't get a MACC because I only needed two classes to complete the 150 hours education requirement for Texas for the CPA. I am so happy I didn't because of the additional cost.

    FAR - 90  2/2019

    REG - 83  12/2018

    AUD - 84  12/2018

    BEC - 92  2/2019

    #2263203

    cpa1234
    Participant

    The MACC program at my school was just an additional year and I do not recall it being too much more than a year of undergrad. Probably about $26K-$28K? The MACC program prepped me so well for the CPA exam: it went beyond what I was doing in undergrad plus I concentrated more since it was grad school. If you go to an in-state school and can just do an extra year to get the MACC I recommend it. I also spent basically no time or money applying to the program because I was already enrolled in the undergraduate program (no GRE/GMAT, waived app fee, apply online, recommendations came from professors working in same building as admissions).

    AUD - 83
    BEC - 78
    FAR - 76
    REG - 79
    Licensed in PA

     

    #2263614
    Recked
    Recked
    Participant

    I looked into a Masters at the local state university. I think it was going to be about $36,000 in tuition alone.
    That was for an MBA with an accounting concentration. They did not offer MACC or MST programs, but the MBA was designed to get the 150 credit hours for CPA.
    I think if you are going to drop $50k plus, why not shoot for an MBA that might be useful in all lines of professional work, and not get pigeon holed into accounting.
    I think my SUNY school had a 4+1 program, but I chose not to do it as it was not needed for license at that point.

    Memento Mori - Kingston NY CPA & EA (SUNY Albany 2002)

    FAR-93 11/9/17 (10wks, 250 hrs, Roger 1800+ MCQs, Gleim TB 600+MCQs, SIMs)
    AUD-88 12/7/17 (3 wks, 85 hrs, Roger 1000 MCQs no SIMs hail mary)
    REG-96 1/18/18 (6 wks, 110 hrs, 1400 MCQs, no SIMs)
    BEC-91 2/16/18 (4wks, 90 hrs, 1240 MCQs)

    #2263800

    Nate
    Participant

    I got my MAcc a few years ago at a local state university, a big one too, and it was around $25,000. Honestly, it wasn't worth it, some of the classes were great, but most of them were electives that nobody will ever actually apply in their lives. But it didn't get me an internship or job or anything, those were mostly predetermined by those that already did internships during their undergrad and for the few remaining spots, those were for the students who had parents in the CPA field and somebody owed their parents a favor. I just did it because I needed two extra terms to have enough credits to qualify so I figured I'd go for a 3rd term and get my MAcc. It was such a waste of money, I wish I was a double major in something useful like a foreign language or something and got my credits that way.

    AUD: 54 (10/31/15); 83 (12/02/17)
    BEC: 70 (01/31/16); 90 (07/02/17)
    FAR: 73 (10/03/15); 88 (02/17/18)
    REG: 83 (06/09/18)
    AICPA Ethics: 91 (06/28/18)
    Licensed: 08/16/18

    Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.
    -Galatians 6:9

    #2263938

    jeff
    Keymaster

    What's the payback period on the average MAcc/MBA investment?

    #2264088

    cpa1982
    Participant

    Thanks for reply guys. It seems most of students either do double major in undergrad or get MACC right after undergrad or do part time while working full time because their employers help with tuition expense. Main concern is what if someone coming from totally different field and do MACC, then how that individual will get internship and job offers at the end of the program? At undergrad, public and private companies put a lot emphasis on internship experiences but what options MACC grad have?

    Recked,

    Im kicking myself not going for MBA earlier. If i have to spend $50K plus then i just go for full time MBA and do specialization in either finance or real estate and leave accounting industry. Let' face it i have yet to heard from anyone saying they truly enjoying accounting work.

    Gocart,

    I'm in VA and Accountancy Board told me i don't need MACC. I have enough accounting classes from undergrad so i can go to community college to satisfy 150 hours requirements. I was hoping MACC program would offer internship opportunities so I can start working in accounting field again while pass exams on side but seems like that's not the case.

    #2264250
    ultrarunner
    ultrarunner
    Participant

    It all depends on schools and what you are looking for. In my case, having a CPA didn't help me land a job in public accounting, but my master program did. I went to a state school (highly recruited by big4), spent less than 20K and ended up getting a job in a big public accounting firm. My firm actually offers school loan reimbursement program (although I didn't have any loan). FYI, I was much older than most of job candidates. As long as you are in school, no one cares about your age or lack of experience. Also, last recruiting season, I helped out my firm's recruiting team, and they had a target list, and most of them are Master students. If you are pursuing a better opportunity, I think you should go for a Master. But please make sure your school is highly recruited or targeted. Otherwise, like some said, it is a waste of money. All of my classmates ended up receiving a job offer from big firms before graduating. Now I have a great network as well. Going for a Master has been one of the best investments that I have ever made. Good luck!

    CPA/ MST/ Roger CPA Review
    #2264436

    Jimmy Dugan
    Participant

    I said the same thing when I went back and got my masters, opting for a lesser known program online that cost around $20,000. The content was very poor and there was no interaction with the professors. You get what you pay for and if I had it to do over again, I would have spent $50K-60K to have a worthwhile educational experience.

    Something I would look into now is the Accounting masters at Illinois (Urbana-Champaign). They offer the degree online through Coursera and it costs around $25K.

    AUD - 95
    BEC - 87
    FAR - 84
    REG - 90
    You're killing me Smalls

     

    #2264925

    Take the additional classes needed at a community college – MACC is not worth the cost.

    “You absolutely need a MACC to pass the CPA exams” – said no one ever.

    AUD: 78

    BEC: TBD

    FAR: TBD

    REG: TBD

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