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Started By
Message
Accounting, Grad school vs. 150 hours in undergrad
Posted on 11/21/18 at 9:47 am
Posted on 11/21/18 at 9:47 am
I'm an accounting major scheduled to graduate from LSU in May. What would be better for me to do, go to grad school and get Master's to reach 150 hours or graduate in December 2019 and do the Internal Audit program at LSU. After this semester I will only be 19 hours short of the 150 hour requirement to be eligible for CPA due to changing major multiple times. Would like to stay in Louisiana or go to Texas after graduation. What would be better for career? TIA
9
Posted on 11/21/18 at 10:45 am to Wes225
I think it mostly depends on what you want to do with your degree. As I'm sure you know it's a big field. And a good one to be in, too.
I'll note that merely having a Master's probably won't matter nearly as much as just getting the 150 hours so you'll be CPA-eligible.
I suggest that if you haven't already done it, you might look into some data analytics classes instead of more accounting. I do data analysis work for big federal agencies and have found it pays much better than pure accounting does. If you know how to do software development *and* know accounting nuts and bolts you'll do very well.
I'll note that merely having a Master's probably won't matter nearly as much as just getting the 150 hours so you'll be CPA-eligible.
I suggest that if you haven't already done it, you might look into some data analytics classes instead of more accounting. I do data analysis work for big federal agencies and have found it pays much better than pure accounting does. If you know how to do software development *and* know accounting nuts and bolts you'll do very well.
Posted on 11/21/18 at 11:01 am to Wes225
Agree with other poster that the CPA itself is more important than how you got it. I would look at classes that interest you the most. If those are grad level, go that route.
Posted on 11/21/18 at 11:33 am to Wes225
150 hours in undergrad without a doubt. The Masters in Accounting will not open doors and be a waste of time and money if you are trying to get the CPA designation.
CPA will mean everything; MACC is an afterthought.
CPA will mean everything; MACC is an afterthought.
Posted on 11/21/18 at 11:46 am to lynxcat
quote:
150 hours in undergrad without a doubt. The Masters in Accounting will not open doors and be a waste of time and money if you are trying to get the CPA designation.
CPA will mean everything; MACC is an afterthought
Agreed. I did the masters because I graduated riggt at 120 hours and it was a 30 hour program. The biggest benefit I thought was the teachers teach for the exam for the most part.
Posted on 11/21/18 at 11:55 am to Wes225
Look into programs that have a crash course for the CPA. My dad did it at Alabama, couple friends at OU, and Texas. Essentially a 3-month summer course post-grad. The courses count to your 150 and you take the CPA at the end of the program. You've already lined up Big 4 (PwC > other 3), get your $10k bonus for CPA from Big 4, and you're set.
I did not go this route...it was much harder to study and work at the same time for the CPA while in Big 4.
I did not go this route...it was much harder to study and work at the same time for the CPA while in Big 4.
Posted on 11/21/18 at 11:58 am to Rendevoustavern
quote:
You've already lined up Big 4 (PwC > other 3),
This is highly dependent on region and service line. I don't think that blanket statement is very accurate.
quote:
get your $10k bonus for CPA from Big 4,
I know people that work for each of the Big 4 and the bonus is not 10k.
quote:
I did not go this route...it was much harder to study and work at the same time for the CPA while in Big 4.
I took three while working Big 4, it's certainly possible.
This post was edited on 11/21/18 at 11:59 am
Posted on 11/21/18 at 12:02 pm to Rendevoustavern
PwC takes an extra year to get promoted to Senior. It’s crazy why someone would turn down the other three to sign up for that. PwC requires three years to get to senior while the others promote at 2. Given this is when most leave public accounting, it’s a strange phenomenon.
You can’t make blanket statements about which is better or worse and it’s highly local market dependent. Generally, PwC and Deloitte are considered tier 1 and KPMG and EY are tier 2 of the B4 but that’s driven by size more than anything. At the end of the day, the firms do the same stuff and each is a strong brand in the resume. Work for the firm that you click the most with the local employees and has clients in industries that interest you.
You can’t make blanket statements about which is better or worse and it’s highly local market dependent. Generally, PwC and Deloitte are considered tier 1 and KPMG and EY are tier 2 of the B4 but that’s driven by size more than anything. At the end of the day, the firms do the same stuff and each is a strong brand in the resume. Work for the firm that you click the most with the local employees and has clients in industries that interest you.
This post was edited on 11/21/18 at 12:03 pm
Posted on 11/21/18 at 12:05 pm to lynxcat
quote:
You can’t make blanket statements about which is better or worse and it’s highly local market dependent. Generally, PwC and Deloitte are considered tier 1 and KPMG and EY are tier 2 of the B4 but that’s driven by size more than anything
Correct. My direct service line we have double the professionals and revenue than the other three in our market. We bring in the most revenue for our group nationally within the firm.
Like you said, it's pretty dependent locally.
quote:
Work for the firm that you click the most with the local employees and has clients in industries that interest you.
With the amount you are going to work, this is very important.
Posted on 11/21/18 at 1:12 pm to Mingo Was His NameO
quote:
You've already lined up Big 4 (PwC > other 3),
This is very true. Once summer came around, our HR director would push us to get out to the schools to start luring talent that were in these programs. While I am being partially sarcastic about PwC, they are the largest public accounting firm in the world. These programs are aligned with Big 4, the majority of the professors either worked Big 4 and/or are connected in some way with one of the firms.
The CPA bonus was either 5 or 10k. Might be different now but in 2013, I am almost positive it was 10k and tiered down after every year.
It is certainly possible to finish your CPA while working, my point was the kids I started with that fell out of these programs didn't have to go through it and recommended to the OP that if this option was available, check it out.
Posted on 11/21/18 at 2:04 pm to Wes225
I took as many high level finance and CIS related courses as possible.
The accounting ties in with all the Finance and CIS that I took to get to 150 paid dividends for me.
Everyone I spoke to could care less about MBA - it was an afterthought.
If you have any thoughts about the audit world, I would look into LSU’s audit program. It is rapidly becoming world class.
The accounting ties in with all the Finance and CIS that I took to get to 150 paid dividends for me.
Everyone I spoke to could care less about MBA - it was an afterthought.
If you have any thoughts about the audit world, I would look into LSU’s audit program. It is rapidly becoming world class.
Posted on 11/21/18 at 2:17 pm to Rendevoustavern
quote:
While I am being partially sarcastic about PwC, they are the largest public accounting firm in the world.
Again, that doesn't really mean much.
quote:
Might be different now but in 2013, I am almost positive it was 10k and tiered down after every year.
Like I said, I know people that work at all 4 firms, including myself, and it is not, nor was it in 2013, 10k.
Posted on 11/21/18 at 9:13 pm to Wes225
Do the MS curriculum, you will actually learn something and it's nice to have a post graduate degree on your resume once you're deeper in your career. Plus if you're going into a big market like Texas youll be competing with 5 year master's degree grads from all the TX schools. Don't do the IA program unless you need the internship. There are big 4 internships available without going through that circus. Goes without saying there is more opportunity in TX.
This post was edited on 11/21/18 at 9:16 pm
Posted on 11/22/18 at 1:23 am to Rendevoustavern
Outside of the Big 4 bubble, all 4 are viewed virtually the same. All 4 recruit the same kids from college, recruit for the same type of skills, and all 4 are made up of former employees of the other 4. Where differences can arise are by region, market, and service line; however, even then those differences are probably viewed as more distinct by those within the Big 4 than those outside of it.
The real differences are between the Big 4 and the rest of the professional services companies (e.g., GT, Crowe, etc).
The real differences are between the Big 4 and the rest of the professional services companies (e.g., GT, Crowe, etc).
Posted on 11/22/18 at 1:29 am to Wes225
As others have said, if you’re CPA bound, then it honestly doesn’t matter whether you have the MAcc or not as the CPA is all that matters.
I would not use the LSUCIA program as the means to help meet your 150 hours. That’s a lot of pain if you’re ultimately not interested in IA or advisory. The LSUCIA program is good, but it’s unclear to me how high of a demand there still is for internal auditors (especially compared to 10-15 years ago during the SOX boom).
I would not use the LSUCIA program as the means to help meet your 150 hours. That’s a lot of pain if you’re ultimately not interested in IA or advisory. The LSUCIA program is good, but it’s unclear to me how high of a demand there still is for internal auditors (especially compared to 10-15 years ago during the SOX boom).
Posted on 11/22/18 at 7:27 am to Wes225
quote:
After this semester I will only be 19 hours short of the 150 hour requirement to be eligible for CPA
Correction. You need 150 to get your license. You’ll be eligible to sit for the exam once you graduate.
Another option would be to take out the exam first and then wrap up those 19 hours after.
Posted on 11/22/18 at 1:45 pm to Murray
Rules vary by state.
Posted on 11/22/18 at 6:59 pm to foshizzle
quote:
I think it mostly depends on what you want to do with your degree. As I'm sure you know it's a big field. And a good one to be in, too. I'll note that merely having a Master's probably won't matter nearly as much as just getting the 150 hours so you'll be CPA-eligible. I suggest that if you haven't already done it, you might look into some data analytics classes instead of more accounting. I do data analysis work for big federal agencies and have found it pays much better than pure accounting does. If you know how to do software development *and* know accounting nuts and bolts you'll do very well.
Considering a return to school for a second bachelors in Accounting, but without real specific plans for that degree. What would a data analytics path look like? Coursework outside of the major focusing on stuff like SAS or R?
Posted on 11/23/18 at 9:56 am to Dead Mike
Why would you go back for a bachelors if you already have one? Work towards a masters.
Posted on 11/23/18 at 10:07 am to MStant1
quote:
Why would you go back for a bachelors if you already have one? Work towards a masters.
My bachelors degree is in an unrelated field and any of the nearby MAcc programs I’ve looked at require accounting coursework that I don’t have.
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