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MBA after public accounting
Posted on 2/8/15 at 9:03 am
Posted on 2/8/15 at 9:03 am
Has anyone taken the route of public accounting/CPA -> MBA School -> Profession outside public accounting? or have an opinion on this route?
With FS, ICFR and integrated audits, it seems one would be in a gray area of having real world applicable experience and having no experience. You see and learn how businesses operate, evolve, succeed and fail, but you are never tasked with applying knowledge and experience to make the business decisions.
Just curious
With FS, ICFR and integrated audits, it seems one would be in a gray area of having real world applicable experience and having no experience. You see and learn how businesses operate, evolve, succeed and fail, but you are never tasked with applying knowledge and experience to make the business decisions.
Just curious
Posted on 2/8/15 at 9:09 am to Drive4show
It is smart to get a couple of years experience before pursuing MBA. Unless you're going to a name school I would only do it if you want to change career direction. The majority of people I see in the workforce having an MBA doesn't really do anything for you. (I don't have exposure to investment banking, business consulting). It's about what you do while on the job. MBA may be more beneficial for the English, communication majors however.
Posted on 2/8/15 at 9:18 am to Drive4show
What's the upside after spending the money on a MBA? From my experience, once you have a CPA then no one really cares what else you have because the CPA trumps them all. I just don't see a MBA really adding much to your earning potential if you are already a CPA
Posted on 2/8/15 at 9:24 am to Drive4show
I think as long as you get in a school that is very strong in the geographical area you would like to work or a top 20 program you should be good.
Posted on 2/8/15 at 9:29 am to iAmBatman
Learning new skill sets and opening the door to careers that aren't 1. financial analyst 2. internal accounting/audit work 3.public accounting. I don't really have my own opinion on the matter yet.
Posted on 2/8/15 at 9:30 am to iAmBatman
quote:
What's the upside after spending the money on a MBA? From my experience, once you have a CPA then no one really cares what else you have because the CPA trumps them all. I just don't see a MBA really adding much to your earning potential if you are already a CPA
Upside would be a career switch and a pay bump. A 3-4 years into public accounting you are making $60-70k. Go to a great business school and you come out making $90k-$130k(before signing bonus, add $5k- $25k if you count that) depending on the industry and the job when you would be making $75k-$80k if you had stayed in public accounting.
Posted on 2/8/15 at 9:31 am to Beerinthepocket
quote:
I think as long as you get in a school that is very strong in the geographical area you would like to work or a top 20 program you should be good.
This would be a must. I would not consider putting in the time for a mid-level program given my current situation.
Posted on 2/8/15 at 9:44 am to Beerinthepocket
You can do the same thing without going to MBA school. Put your time in at a decent firm for 7-8 years, get a CPA, and write your ticket.
I know plenty of people that switched from public accounting to industry management and they didn't have to drop $$$ and time going back to school.
I know plenty of people that switched from public accounting to industry management and they didn't have to drop $$$ and time going back to school.
Posted on 2/8/15 at 9:53 am to iAmBatman
7-8 years in Big 4 public accounting puts you at the senior manager level. Making you over qualified for many positions, pigeon holeing you into an external reporting or tax manager director/manager role at a public company, and under qualified for anything outside of accounting. I would only recommend doing that if you live for accounting.
Posted on 2/8/15 at 10:35 am to Drive4show
I think it's a great way to facilitate a career change. Your only other option really is to continually network your arse off in other fields, which can be difficult when handling a full time job. Going back to school will provide you the time and resources to make the career change your primary focus.
If you're with a big firm, another option is seeking internal transfer opportunities. Once you build a strong reputation at the firm (2-4 years), it will be much easier to move into one of the Advisory service lines if you wanted to do that.
If you're with a big firm, another option is seeking internal transfer opportunities. Once you build a strong reputation at the firm (2-4 years), it will be much easier to move into one of the Advisory service lines if you wanted to do that.
Posted on 2/8/15 at 10:52 am to Drive4show
You shouldn't need an mba to jump from public to industry
Posted on 2/8/15 at 10:58 am to yellowfin
quote:
You shouldn't need an mba to jump from public to industry
Is the OP talking about jumping from public accounting to corporate accounting? If so then you're right. No need for a MBA.
Posted on 2/8/15 at 11:40 am to Beerinthepocket
To move into something in industry that is not financial related, the op could definitely get value from a MBA.
So far, I agree with everything beerinthepocket has said. He has clearly worked at a big 4 or done significant research on the topic.
So far, I agree with everything beerinthepocket has said. He has clearly worked at a big 4 or done significant research on the topic.
This post was edited on 2/8/15 at 11:42 am
Posted on 2/8/15 at 11:59 am to Beerinthepocket
quote:
s the OP talking about jumping from public accounting to corporate accounting? If so then you're right. No need for a MBA
Absolutely not. No interest in corporate accounting roles.
Posted on 2/8/15 at 12:50 pm to Drive4show
What are you looking at then?
Posted on 2/8/15 at 2:23 pm to Drive4show
I've seen a handful of peers leave public after 3-4 years in, get their MBA, and land associate level roles in IB, usually sell side. Granted they got their MBA from solid programs, UT and Vandy for example, and they are 3-4 years older than the rest of their IB peer group. It can be done if you're looking for a switch.
This post was edited on 2/8/15 at 2:25 pm
Posted on 2/8/15 at 2:38 pm to Drive4show
I did audit for 2.5 years, now in our consulting practice. One guy in our group just accepted job with Shell Trading as a Sr. Credit Analyst. He was in similar boat, did 2.5 years in audit. That could be your 3rd option.
Posted on 2/8/15 at 4:28 pm to Beerinthepocket
I'm not sure where you're getting these numbers from but they are awfully large for an individual in their late 20s with an MBA. I know several people with an MBA from LSU that aren't sniffing salaries in the 90s much less 100s. I honestly don't see much value in the MBA without being in a role with a company that is investing in you (paying for it) and that you can see having a long term career at.
Posted on 2/8/15 at 4:49 pm to Jabstep
quote:The numbers being thrown around are more applicable to those from a target program or achieved by exceptional graduates from a lower-tier program. These aren't LSU/Louisiana figures.
I'm not sure where you're getting these numbers from but they are awfully large for an individual in their late 20s with an MBA. I know several people with an MBA from LSU that aren't sniffing salaries in the 90s much less 100s.
This post was edited on 2/8/15 at 4:50 pm
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