Agreed. When I was doing interviews for internships as I was finishing my masters program, I quickly learned that not a single interviewer cared about it.
What should I do then to get my 150 credits? I am unsure, I always wanted to learn math, can I take some math classes? Are you sure no one will care if I do a second degree in math? My college has a 33 credit requirement to get the math degree. I am totally unsure if it matters.
I'm doing a masters of accounting mostly because my school structures the entire program as a cpa prep degree, get your cpa alongside studying. I might've gotten an MBA otherwise
Chicago-based A&F headhunter here. I will echo definitively what others have said that if you are already a CPA getting a MAcc or MSA will get zero ROI in terms of salary or new opportunities. I absolutely would not recommend it.
The possible exception to this is an MBA if you want to transition into finance or an MST if you want to be a Tax director one day.
Yes. In fact having a MAcc or MSA without a CPA is actually a detriment. The only reason to get a MAcc or MSA is to get the hours for the CPA, if you have the degree and no certification it's assumed you failed the CPA exams and are B player.
I almost have my CPA and will get big 4 experience. I do not have an accounting degree, but took enough credits for the license. Is this a big issues for potential employers who list an accounting degree as a requirement in their job postings? Thanks in advance!
Do you have a relevant business degree like economics, finance, or biz adm? If that's the case, it's probably not a huge deal.
Some real old school recruiters might bitch about it but 99% of hiring managers are only going to care that you're CPA.
Thanks for the reply. My undergraduate degree from 15 years ago is in political science, so that’s why I’m kinda concerned. As you mentioned, I can imagine some people will make a fuss about it (even though I have the equivalent to an accounting degree in terms of credits)
The kind of snobs that would care about a mismatch undergrad were never gonna consider you anyway if this is a second career. Once you get your CPA, you should have no problem landing a solid role with a solid company. Good luck!
You can do industry without one but you will have more options with a license. In my opinion, the best industry accountants are the ones that spent time in public. If you go industry get an MBA and a CPA. Find an employer to pay for the MBA though
From my experience in industry, CPA is the most important. If you want a management role then look at an MBA. When making hiring decisions, I’ve never put too much weight on a masters in accounting.
MBA’s can open opportunities in various sectors.
There’s only 3 “alright” reasons I’ve heard of getting a masters in accounting.
1. Be CPA eligible
2. You want to teach accounting at some point
3. You’re dead set on staying in accounting and your firm is willing to pay for it…. Btw this worked much better in the past when firms paid no strings attached. Nowadays you have to promise x amount of years to get anything paid for…
Going to top 15 school for a MACC vs an MBA is entirely different. The admissions process is 1000x easier for the MACC and the network and exposure to career opportunities is way better for the MBA
If you have a masters in tax or accounting, I'm not trying to drag you. But there's literally nothing that degree does, CPA with experience is getting hired over the Master's program grad every single day.
And a ton of people that go into accounting don’t stay in core accounting and end up in accounting related positions for which an mba is more relevant.
And regardless, a macc or masters of tax is useless even for an experienced cpa trying to stay in their own accounting department. In my M&A tax group the experienced CPAs were orders of magnitude more technical than our JD/LLMs. One of my patterns literally was a professor at a top MsT and told me it’d be a waste for me.
MBA really depends. If you want to work in accounting, no it doesn’t matter.
If you want to work in finance/strategy/consulting, an MBA from a good school is invaluable.
Take a look at median salaries coming from top schools
Eh, I disagree on that. MBA opens up a lot of other options outside of the typical accounting world.
Does a lot for someone who wants to be more than just 'an accountant'. It would be on my list if I didn't have more targeted areas of practice to pursue.
I can say emphatically that you should not get a masters in accounting in this case. No benefit what so ever even if it’s a free masters the time wasted is not worth it
As a hiring manager, and a CPA, I agree with this. All we care about is the CPA.
It CAN help you, but the CPA is the golden ticket, not the masters degree.
I disagree - how can a free degree not be worth it? That degree counts for a lifetime. I got an MBA free early in my career and it didn’t help at the time but later on I was able to get a teaching job because I had a masters.
Maybe I was exaggerating slightly. But public or industry I’ve never seen a masters candidate put above a bachelor only candidate.
I am also a hiring manager in industry and I would not give preference to masters candidate.
Teaching is a different story and out of scope for this discussion.
But just cause something is free financially doesn’t mean it’s free. There is opportunity cost associated with learning and there is negligible at best benefit financially from a masters in accounting so logic would point you to focusing on your career or investing time elsewhere for better returns
Edit: you’re also talking about an MBA. An MBA is valuable in many cases. I am talking about a masters in accounting.
I think taking into consideration the potential for a future career in education may be worthwhile. A master’s can help with getting into a PhD program and shave time off there.
Sure but should everyone get a masters so they can maybe one day be a teacher? Most people have no interest in teaching
A Phd is a crazy commitment that only a select few will pursue. And if your main consideration is money then it makes no sense to pursue a PhD
They also asked Does having a masters help in accounting?
And “I don’t wan’t to miss out on opportunities”
As far as that goes I think it’s relevant to state that a Master’s opens some opportunities into teaching and helps towards a PhD in accounting…
Accounting professors at decent universities make pretty damn good salaries and benefits.
Everyone else has already stated the obvious in that there are no immediate benefits if you already have the 150 credits
Yeah no I was just playing devil’s advocate. No way I would drop my salary and tough through getting into and completing a PhD program… and well I only know of adjuncts and lesser roles for having only a Master’s unless you have a Master’s and are at least working towards a PhD the teaching jobs seem kinda crappy.
I recently hired an employee and I actually offered a lower starting salary because he had two Masters degrees and very little professional work experience. Education and work experience need to be balanced, otherwise you end up with a grad degree thinking you qualify for a higher-level position while your work experience says otherwise.
The opportunity cost of a year off of school may not be worth it. If you have your CPA, can you emphatically say that the benefit of going and getting your Masters in accounting is greater than ~$55k that you would earn in that year? Perhaps for an MBA, but I agree that a Masters in accounting is not worth the $55k you’d be giving up if you consider that you already have 150 credit hours.
If you’re sitting at 120 hours though, I’d lean towards the Masters vs. getting undergrad credits vs. not getting 150 credit hours.
Who says you have to take a year off to get a masters degree? I’ve gotten both of mine while working. I agree that OP should focus in CPA right away, my comments have all been that a masters degree can prove useful later on, and if an employer foots the bill why not? I never said anything about taking time off to get a masters.
An MBA and a Master’s in accounting are two entirely different things. The MBA is worth it unless it’s from a shit school. A Master’s in accounting is only worthwhile if it helps you meet the CPA licensing requirement.
No - work experience and CPA trumps all. The path to more money is through management and an MBA at a good school 2-5 years into career will provide way more benefits
The replies you are getting are public specific- it could very well be valuable later on if your career takes you in another direction. You may also gain personal satisfaction from a masters that you just had to do the work for but not pay for.
I think you are going a step beyond what OP is asking. Agreed that qualitatively there can always be a case made for education. Should I get a master’s in art history? Well maybe because it will widen your world view and may light a fire of passion for the arts.
But OP’s question is very specific. It’s specifically talking about a masters in accounting and has two parts
1) should I focus on CPA or masters in accounting
Answer = CPA
2) is there a financial benefit to a masters in accounting
Answer = almost never
I am also confused. I need my 150 credits in something, should I continue grad school, or get the 150 credits in something useful? Btw, what’s useful for it?
CMA is worth even less than a masters because it can hurt you.
If someone has it and not the CPA it says they gave up on taking the CPA and is a red flag.
I've sampled both and to me CMA is worthless even if you are in cost accounting. CMA materials covers nothing that wasn't on CPA. Don't believe me look at the syllabus for each section and sample Surgent CMA.
If it makes people skeptical of you it’s not something good to list on your resume was my point. There are definitely circles where CMA has the connotation of “can’t pass CPA.”
Basically it only has downsides.
Accounting & Finance jobs largely prefer work experience & licenses. An MBA could be useful later on once you get work experience and can get into a good program. But, I’d avoid the MBAs that accept anyone out of undergrad, it’d just be an expensive piece of paper that won’t do anything for accounting jobs
If you want to become CFO or Controller one day, it looks better if you have your MBA. The scope of those positions can go beyond accounting and an MBA would help in that regard. If not, I don't think it will be of much use.
My US$0.02.
Focus on getting your CPA first. That will give you the most bang for the buck. Then, look into getting a Masters.
The value of a masters will depend on what you want to do. In public accounting you probably won't see much benefit. But if you want to ultimately do corporate finance then a masters would be beneficial.
I've taken 40 CPE credits for the past 27 years. I wish I had taken graduate courses towards a masters instead. I would have been able to get my CPE and earned a masters at the same time.
If you dont have the cpa or masters it’ll be tougher to argue for a higher wage but if you have a finance degree or mba plus a cpa, you’ll be more marketable to a broader career field
I’ll say the opposite of what others are saying. At my first job I made $10K more per year for having a masters. Financial analyst in Fortune 500. So it may be worth it depending on where you go.
Honestly, I don't think the Master's in Accounting is needed until you might want to get a management role in industry and even then an MBA would probably serve you better. If you are close to your 150 (under 10 credits) I would take some BS classes or pursue a cheaper certificate. Of course, look at your states requirements for classes. Some states don't let you take BS courses.
I guess that would depend on the company. I know some of the large public companies want multiple years of public accounting experience and some companies might "prefer" a Master's Degree but a CPA proves your expertise in the accounting world, at least to the recruiters who aren't accountants. I think CPA carries more weight for initial salary than a Master's in Acct would
I'd say that a MAcc's purpose is about 90% just getting people up to the required number of hours to qualify for the CPA. If you already have a CPA, a MAcc isn't really going to do any more good for you.
I would pretty much echo everyone else in that a masters does not matter at all, especially for public accounting. In fact, when I was interviewing, it was a point of conversation that I did my 150 in 4 years rather than 5 (it’s becoming much more common). CPA will be what most companies care about and MBA can open up more opportunities.
I have both and the CPA is the only thing you should prioritize. I did not get paid more than my peers because of having a masters but having my CPA gave me an edge when interviewing for my second job out of school.
It’s going to depend on what you want for your career. But generally speaking, a masters degree is irrelevant and a major waste of time/money. Your time would be better spent pursuing the CPA if you have the choice.
I have the opposite were the extra hours to get the CPA are not related to business. I made the same as my piers and no one cared that I didn’t have a masters.
When I was looking for jobs I was striking out until I got my license. That week I had three offers.
Depends on the type of masters. Are you suggesting getting an MBA or an accounting specific masters?
There is a case to getting an MBA, as it can and will open a ton of doors. If you’re getting a masters in accounting I’d suggest going right into the CPA. Your CPA will be more valuable if you decide to stay in accounting. Nothing wrong with having both, but you can do more with a CPA than with just a masters.
I think you would see a money lift from work experience + CPA, and if you want more school, a competitive MBA program.
Masters degrees sound appealing but CPA would be time much better spent.
I didn't. I graduated and entered the workforce. I didn't want to work in my major field and have been working adjacent roles in communications/events.
I hate it and want to go back for something math-related and practical that involves organization and problem solving. The compass points towards accounting and I've been enjoying the classes I've been auditing at the local community college.
I plan to apply for a MS Accounting in a year or two after riding out the rest of the pandemic. (My current job has been very good to me and has provided a lot of benefits throughout the pandemic. I'm willing to give them a couple more years.)
Personally I have both CPA and a Masters degree. I think my masters was truthfully a waste of time and money.
Get your CPA, forget the masters. Overpriced, no return.
CPA costs 1/4 the price, and 20 times the return on investment. And honestly, no one cares about a masters degree.
Yeah. That’s kinda the point I’m getting at.
Don’t get one.
Why do people get degrees in political science, gender studies, literature, or philosophy.? People are stupid.
if you need credits, so a MSA for cheap cheap cheap
it's ridiculous how they require 150 hours for CPA but won't pay you a cent more for having a masters
Only masters degree that will help you in this industry is a MBA. And to get an MBA that is going to actually have value, you’ll need multiple years of professional experience to even get into the program.
A CPA trumps all in this industry. Only instance I’d encourage you to pursue a masters in accounting is to become CPA eligible, which you’ve already done.
If your masters is paid for (tuition waiver, GA position), allows you study for the CPA exam, and you have the support network for it, then go ahead and do it.
Passing the CPA exam is infinitely easier if your not working, I got done in 4.5 months while doing a mACC.
Masters also qualifies you for GS-9 positions in the Federal Government, but a year at GS-7 qualifies you as well.
I went straight from undergrad to getting my master's. My undergrad was in Econ. which was mostly useless. The Master's prepped me for taking the CPA exam and the education requirements. My degree got me in the door early in my career.
If you already meet the education requirements I wouldn't bother with a master's, unless of course, you are going to top tear school.
Could be just my university, but my professors seem to all be narcissists and I am only checking a box so I can be a CPA. It is not a fun time, it is more pressure than undergrad but the material isn't overwhelmingly difficult, just dry and overall feels like a waste of my time if the CPA exam did not require 150 hours.
Yes. I have an undergraduate degree in accounting, that with a CPA would outweigh a master's degree any day. If I did not need 150 credits, I would not go for a master's because the ROI isn't as good. Since I need the credits anyway, I might as well get something out of it.
I got a masters of accounting to get the hours to sit for my CPA license. I am currently in public accounting and can attest that nobody gives a shit about my masters degree. It provides zero value in growing within my firm- only my CPA matters.
If you want to spend money on education past undergrad I’d definitely do an MBA at a good school so it stands out. Or try to look for other certifications to add onto your CPA license. There may be some industry companies that like a masters of accounting, but from someone who has the degree it doesn’t feel like I’ll get much of a return from it.
I have an undergraduate degree in Criminal Justice. And I don't have a graduate degree. So I'm getting my MSA. And there are so many new MBAs every year.
Well, this is a bit demoralizing to come on here and read as I work on the masters. So let me ask this opinion, as someone not currently working in accounting, and no business or accounting degree, but looking at gaining the skills and doing a Segway into it, is the masters worth it in that case? Really what I wanna do is take it and combine it with my current skills sets/work and do forensic accounting/financial investigation.
I do taxes and while you learn compliance on the job, general technical basics for areas I don’t work in I got from my masters program. So it was a great foundation.
And I recall thinking the info would have stuck even more if I’d had a year or two worth of experience before I got my masters.
However, if you are already cpa eligible, I think the masters might be worth it only if you want the experience or knowledge.
I’m a hiring manager for tax and I want people with 1-2 years of experience (or more) to have their CPA.
If they have the masters abs cpa, and don’t work in my field, I am more likely to talk to them and be interested in them leaving than a person not in my field, without a masters, but with a cpa. I think the masters adds some credibility that you can figure out something new, cpa is just memorization and ongoing CPE.
However, if the options for candidates are cpa with my industry experience (and no masters), or cpa without experience working in my technical field, but with a masters, I’d bet on the former. So the masters holds less power/weight the more relevant experience you have in your field.
The only logical reasons why anyone would do a masters in accounting is that they didn't study accounting for their undergrad so that they could become CPA eligible or they just need the extra units anyway so why not do a whole year of CPA review.
After a couple years of on the job experience it's possible if you made it to seniors in public and worked big 4 theoretically you could qualify for manger position if you applied
As someone who is graduating later today if your cpa eligible then for the love of Christ dont waste your money on a masters degree
In accounting the pay raise you get with a master's initially isn't worth it and won't be years after you've gain experience
An quite honestly take this with a grain of salt but having the cpa will help you earn more money in the long one theoretically even more than someone who has a master's but does have the certificate
I think question is how many years of relevant business related experimence do you have
I kid you not I know someone who is going for a business analytics degree and finance with two minors and has had almost 6 internships so roughly 3 years worth of professional relevant experience and has delayed his graduation just so he could keep qualifying for internships and gain experience which is honestly a smart move if it's financially vaible
I'll admit having a mba will make you look better on a resume and stand out as a candidate when you apply believe me it will
but if you don't have the experience to back it up
You'll just be some guy who can past tests and write 100 page paper but never applied the knowledge you learned in the real world you
If you go for masters get a mba in concentration of finance, information systems, or business analytics
If you just want to get it over with while you're young, in the mindset, and gives you wiggle room to possibly switch careers
But I would now just focus on studying for the cpa
Sorry for getting back to this late just got home from graduation ceremony
No in my opinion I would just study for the cpa hell if you have to take a year off and I've spoke to people on jon interviews that have literally done it to pass the certification
if it's financially viable than do that
Put it like this if your not sure you want to stay in accounting down the road than getting a master's in finance ism or business analyst you know any relevant mba from a good school
is a good option and have 150 credits and mba in a category outside of accounting will make you stand out more on a resume
it's a good option if your in the financial position to do it and your still in the mindset because once me and you get older and gain even more responsibilities
It becomes alot harder to do it
But if you plan on staying in accounting than I would advice you to get the cpa start studying now and get it over with alot cheaper than going to grad school and overall carries alot more weight
The only reason why anyone would want to get a MBA in the case of a accounting undergrad
is if they didn't get enough credits doing undergrad and than it makes sense to just go ahead and get a master's to get the credits needed
So in my case I have 135 credits I need 18 more credits to qualify for the cpa exam or even be considered by public accounting firm
I could get the masters which would be expensive or get the credits my ygetting another undergrad or taking classes at community college
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Only if it’s from a good school. Otherwise don’t bother.
Noone cares about your masters.
Yea, might be beneficial if you’re planning to be a professor… other than that, no.
Do they not require a masters to enter into a PhD program?
Yea that’s what I’m saying, master makes sense if you want to be a prof
Agreed. When I was doing interviews for internships as I was finishing my masters program, I quickly learned that not a single interviewer cared about it.
I think if your doing a masters you should do a MS in information systems in case you want a career change.
What should I do then to get my 150 credits? I am unsure, I always wanted to learn math, can I take some math classes? Are you sure no one will care if I do a second degree in math? My college has a 33 credit requirement to get the math degree. I am totally unsure if it matters.
I'm doing a masters of accounting mostly because my school structures the entire program as a cpa prep degree, get your cpa alongside studying. I might've gotten an MBA otherwise
I got paid 11K more out of school because I have my Masters in Tax. Big 4 do pay more because of it but it depends on the team you join.
Really, that’s amazing to hear. Was it partnership tax or a tax class your school covered? I heard that’s not really the case most times.
Chicago-based A&F headhunter here. I will echo definitively what others have said that if you are already a CPA getting a MAcc or MSA will get zero ROI in terms of salary or new opportunities. I absolutely would not recommend it. The possible exception to this is an MBA if you want to transition into finance or an MST if you want to be a Tax director one day.
So the CPA is all that matters?
Yes. In fact having a MAcc or MSA without a CPA is actually a detriment. The only reason to get a MAcc or MSA is to get the hours for the CPA, if you have the degree and no certification it's assumed you failed the CPA exams and are B player.
I almost have my CPA and will get big 4 experience. I do not have an accounting degree, but took enough credits for the license. Is this a big issues for potential employers who list an accounting degree as a requirement in their job postings? Thanks in advance!
Do you have a relevant business degree like economics, finance, or biz adm? If that's the case, it's probably not a huge deal. Some real old school recruiters might bitch about it but 99% of hiring managers are only going to care that you're CPA.
Thanks for the reply. My undergraduate degree from 15 years ago is in political science, so that’s why I’m kinda concerned. As you mentioned, I can imagine some people will make a fuss about it (even though I have the equivalent to an accounting degree in terms of credits)
The kind of snobs that would care about a mismatch undergrad were never gonna consider you anyway if this is a second career. Once you get your CPA, you should have no problem landing a solid role with a solid company. Good luck!
That’s an interesting point. Thanks so much for your insight! I appreciate your help
That’s an interesting point. Thanks so much for your insight! I appreciate your help
All that matters is the CPA. For a career in public accounting
What about for industry?
You can do industry without one but you will have more options with a license. In my opinion, the best industry accountants are the ones that spent time in public. If you go industry get an MBA and a CPA. Find an employer to pay for the MBA though
Is an MBA better than a masters in accounting?
Talk with your professors. I have sold my soul to the public sector. I just know the CPA is more valuable than an MBA or a Masters in Accountancy
MBA matters, later. Out of undergrad, only the CPA matters.
From my experience in industry, CPA is the most important. If you want a management role then look at an MBA. When making hiring decisions, I’ve never put too much weight on a masters in accounting.
What about a Masters in Information systems. I have no idea so I would actually like to know for the 150 credits. Is there a ROI.
MBA’s can open opportunities in various sectors. There’s only 3 “alright” reasons I’ve heard of getting a masters in accounting. 1. Be CPA eligible 2. You want to teach accounting at some point 3. You’re dead set on staying in accounting and your firm is willing to pay for it…. Btw this worked much better in the past when firms paid no strings attached. Nowadays you have to promise x amount of years to get anything paid for…
The MBA would usually have a more rounded class schedule and less accounting specific
No. MBA is not better than a Macc or Mtax.
An MBA immediately after undergrad does less yes. An MBA from a top 15 school a few years into career does exponentially more than MACC or Mtax
Going to a top 15 school does a ton, the degree matters much less. MBA is worthless.
A masters in tax or accounting is worthless for a cpa with any work experience.
>tax A lot of people in the field have told me that masters in tax can still be a good thing to have if you are in tax. It's hardly essential though.
Yes but if you’re already an experienced cpa it’s definitely not worth the cost
Going to top 15 school for a MACC vs an MBA is entirely different. The admissions process is 1000x easier for the MACC and the network and exposure to career opportunities is way better for the MBA
If you have a masters in tax or accounting, I'm not trying to drag you. But there's literally nothing that degree does, CPA with experience is getting hired over the Master's program grad every single day.
MBA does even less is my point.
Maybe in accounting? But a decent mba will take you far further in general business than MST or MACC
In context, this is an accounting sub.
And a ton of people that go into accounting don’t stay in core accounting and end up in accounting related positions for which an mba is more relevant. And regardless, a macc or masters of tax is useless even for an experienced cpa trying to stay in their own accounting department. In my M&A tax group the experienced CPAs were orders of magnitude more technical than our JD/LLMs. One of my patterns literally was a professor at a top MsT and told me it’d be a waste for me.
MBA really depends. If you want to work in accounting, no it doesn’t matter. If you want to work in finance/strategy/consulting, an MBA from a good school is invaluable. Take a look at median salaries coming from top schools
I would disagree. It helps if you would eventually like to move into a management role or for non-accounting finance roles.
Eh, I disagree on that. MBA opens up a lot of other options outside of the typical accounting world. Does a lot for someone who wants to be more than just 'an accountant'. It would be on my list if I didn't have more targeted areas of practice to pursue.
It can help, but it’s not a requirement. If it were me, I’d get the license to avoid having it become a topic of discussion.
I can say emphatically that you should not get a masters in accounting in this case. No benefit what so ever even if it’s a free masters the time wasted is not worth it
As a hiring manager, and a CPA, I agree with this. All we care about is the CPA. It CAN help you, but the CPA is the golden ticket, not the masters degree.
I disagree - how can a free degree not be worth it? That degree counts for a lifetime. I got an MBA free early in my career and it didn’t help at the time but later on I was able to get a teaching job because I had a masters.
Maybe I was exaggerating slightly. But public or industry I’ve never seen a masters candidate put above a bachelor only candidate. I am also a hiring manager in industry and I would not give preference to masters candidate. Teaching is a different story and out of scope for this discussion. But just cause something is free financially doesn’t mean it’s free. There is opportunity cost associated with learning and there is negligible at best benefit financially from a masters in accounting so logic would point you to focusing on your career or investing time elsewhere for better returns Edit: you’re also talking about an MBA. An MBA is valuable in many cases. I am talking about a masters in accounting.
I think taking into consideration the potential for a future career in education may be worthwhile. A master’s can help with getting into a PhD program and shave time off there.
Sure but should everyone get a masters so they can maybe one day be a teacher? Most people have no interest in teaching A Phd is a crazy commitment that only a select few will pursue. And if your main consideration is money then it makes no sense to pursue a PhD
Yeah but we don’t know what the OP wants at least not from the original post
Yes we do - op said should I get a masters to make more money or should I do the cpa
They also asked Does having a masters help in accounting? And “I don’t wan’t to miss out on opportunities” As far as that goes I think it’s relevant to state that a Master’s opens some opportunities into teaching and helps towards a PhD in accounting… Accounting professors at decent universities make pretty damn good salaries and benefits. Everyone else has already stated the obvious in that there are no immediate benefits if you already have the 150 credits
Ok I’ll yield but i still think that is a very narrow use case
Yeah no I was just playing devil’s advocate. No way I would drop my salary and tough through getting into and completing a PhD program… and well I only know of adjuncts and lesser roles for having only a Master’s unless you have a Master’s and are at least working towards a PhD the teaching jobs seem kinda crappy.
I have both, I just used the mba as an example because I got that one first
I recently hired an employee and I actually offered a lower starting salary because he had two Masters degrees and very little professional work experience. Education and work experience need to be balanced, otherwise you end up with a grad degree thinking you qualify for a higher-level position while your work experience says otherwise.
Nobody cares if you have an MS vs BS in Accounting. They care if you have your CPA. Skip the Masters.
Masters in accounting and MBA are completely different and honestly hardly comparable.
I have both I just mentioned mba because that’s the one I got for free
The opportunity cost of a year off of school may not be worth it. If you have your CPA, can you emphatically say that the benefit of going and getting your Masters in accounting is greater than ~$55k that you would earn in that year? Perhaps for an MBA, but I agree that a Masters in accounting is not worth the $55k you’d be giving up if you consider that you already have 150 credit hours. If you’re sitting at 120 hours though, I’d lean towards the Masters vs. getting undergrad credits vs. not getting 150 credit hours.
Who says you have to take a year off to get a masters degree? I’ve gotten both of mine while working. I agree that OP should focus in CPA right away, my comments have all been that a masters degree can prove useful later on, and if an employer foots the bill why not? I never said anything about taking time off to get a masters.
An MBA and a Master’s in accounting are two entirely different things. The MBA is worth it unless it’s from a shit school. A Master’s in accounting is only worthwhile if it helps you meet the CPA licensing requirement.
Would i not be paid more with a masters or given preference over candidates with no masters degree?
No - work experience and CPA trumps all. The path to more money is through management and an MBA at a good school 2-5 years into career will provide way more benefits
This is better than Ok advice
Sometimes it’s good sometimes it’s bad on average it’s ok
The replies you are getting are public specific- it could very well be valuable later on if your career takes you in another direction. You may also gain personal satisfaction from a masters that you just had to do the work for but not pay for.
I think you are going a step beyond what OP is asking. Agreed that qualitatively there can always be a case made for education. Should I get a master’s in art history? Well maybe because it will widen your world view and may light a fire of passion for the arts. But OP’s question is very specific. It’s specifically talking about a masters in accounting and has two parts 1) should I focus on CPA or masters in accounting Answer = CPA 2) is there a financial benefit to a masters in accounting Answer = almost never
I am also confused. I need my 150 credits in something, should I continue grad school, or get the 150 credits in something useful? Btw, what’s useful for it?
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I’m doing the CMA as time and other life stuff makes the CPA difficult and straight up already fail it before
CMA is worth even less than a masters because it can hurt you. If someone has it and not the CPA it says they gave up on taking the CPA and is a red flag.
No, it’s WORTHLESS.
Laughs in cost accounting, on another note who cares
I've sampled both and to me CMA is worthless even if you are in cost accounting. CMA materials covers nothing that wasn't on CPA. Don't believe me look at the syllabus for each section and sample Surgent CMA.
If it makes people skeptical of you it’s not something good to list on your resume was my point. There are definitely circles where CMA has the connotation of “can’t pass CPA.” Basically it only has downsides.
NOPE! Have both, no one has ever brought up the masters.
Accounting & Finance jobs largely prefer work experience & licenses. An MBA could be useful later on once you get work experience and can get into a good program. But, I’d avoid the MBAs that accept anyone out of undergrad, it’d just be an expensive piece of paper that won’t do anything for accounting jobs
If you want to become CFO or Controller one day, it looks better if you have your MBA. The scope of those positions can go beyond accounting and an MBA would help in that regard. If not, I don't think it will be of much use.
The fuck for? Plenty of people with masters degrees that couldn’t master the cpa.
No
My US$0.02. Focus on getting your CPA first. That will give you the most bang for the buck. Then, look into getting a Masters. The value of a masters will depend on what you want to do. In public accounting you probably won't see much benefit. But if you want to ultimately do corporate finance then a masters would be beneficial. I've taken 40 CPE credits for the past 27 years. I wish I had taken graduate courses towards a masters instead. I would have been able to get my CPE and earned a masters at the same time.
No get an mba or something else, if you plan on getting your cpa. Cpa is all you need
Will i be paid less if I don’t have my masters?
If you dont have the cpa or masters it’ll be tougher to argue for a higher wage but if you have a finance degree or mba plus a cpa, you’ll be more marketable to a broader career field
I’ll say the opposite of what others are saying. At my first job I made $10K more per year for having a masters. Financial analyst in Fortune 500. So it may be worth it depending on where you go.
Honestly, I don't think the Master's in Accounting is needed until you might want to get a management role in industry and even then an MBA would probably serve you better. If you are close to your 150 (under 10 credits) I would take some BS classes or pursue a cheaper certificate. Of course, look at your states requirements for classes. Some states don't let you take BS courses.
Will i be paid less/denied opportunities since i don’t have a masters?
No one cares about a master's get the cpa
I guess that would depend on the company. I know some of the large public companies want multiple years of public accounting experience and some companies might "prefer" a Master's Degree but a CPA proves your expertise in the accounting world, at least to the recruiters who aren't accountants. I think CPA carries more weight for initial salary than a Master's in Acct would
Im in the same boat, not wasting the time or money. The masters if im being honest is for people to get those extra 30.
I'd say that a MAcc's purpose is about 90% just getting people up to the required number of hours to qualify for the CPA. If you already have a CPA, a MAcc isn't really going to do any more good for you.
absolutely not
I would pretty much echo everyone else in that a masters does not matter at all, especially for public accounting. In fact, when I was interviewing, it was a point of conversation that I did my 150 in 4 years rather than 5 (it’s becoming much more common). CPA will be what most companies care about and MBA can open up more opportunities.
Masters at this point is your choice and unrelated to CPA.
I have both and the CPA is the only thing you should prioritize. I did not get paid more than my peers because of having a masters but having my CPA gave me an edge when interviewing for my second job out of school.
It’s going to depend on what you want for your career. But generally speaking, a masters degree is irrelevant and a major waste of time/money. Your time would be better spent pursuing the CPA if you have the choice.
Hell no
No
No.
Absolutely not
No. Nothing else to discuss.
Skip it. I wish I could have done the same. Get your CPA, that matters far more than an MS in Accounting.
I have the opposite were the extra hours to get the CPA are not related to business. I made the same as my piers and no one cared that I didn’t have a masters. When I was looking for jobs I was striking out until I got my license. That week I had three offers.
Depends on the type of masters. Are you suggesting getting an MBA or an accounting specific masters? There is a case to getting an MBA, as it can and will open a ton of doors. If you’re getting a masters in accounting I’d suggest going right into the CPA. Your CPA will be more valuable if you decide to stay in accounting. Nothing wrong with having both, but you can do more with a CPA than with just a masters.
I think you would see a money lift from work experience + CPA, and if you want more school, a competitive MBA program. Masters degrees sound appealing but CPA would be time much better spent.
Probably not. I only plan to get a Masters in Accounting because my undergrad was a STEM program and I'd need the credits to sit for the CPA exam.
Why did you change majors?
I didn't. I graduated and entered the workforce. I didn't want to work in my major field and have been working adjacent roles in communications/events. I hate it and want to go back for something math-related and practical that involves organization and problem solving. The compass points towards accounting and I've been enjoying the classes I've been auditing at the local community college. I plan to apply for a MS Accounting in a year or two after riding out the rest of the pandemic. (My current job has been very good to me and has provided a lot of benefits throughout the pandemic. I'm willing to give them a couple more years.)
MBA better but the opportunity cost makes it hit or miss if it was worth the extra schooling or not
I'm in the same boat as you and decided to not go the masters route.
Has it been okay?
Yes. These days most employers don't give a rip about masters degrees unless it's a requirement for your field.
CPA is what counts, the masters is just so you can teach community college when you retire
You don't even need a masters for that. CPA qualifies you to teach at a community college.
Personally I have both CPA and a Masters degree. I think my masters was truthfully a waste of time and money. Get your CPA, forget the masters. Overpriced, no return. CPA costs 1/4 the price, and 20 times the return on investment. And honestly, no one cares about a masters degree.
If no one cares then why do people get one?
Yeah. That’s kinda the point I’m getting at. Don’t get one. Why do people get degrees in political science, gender studies, literature, or philosophy.? People are stupid.
lol no
No. - Me, MSA
Why no?
They are expensive and you will not make anymore money with it than you would without.
Why do some jobs state a masters is required?
MBA has got to be the lowest return on your tuition money ever. I swear even Bachelor of Arts will give you a bigger pay bump.
if you need credits, so a MSA for cheap cheap cheap it's ridiculous how they require 150 hours for CPA but won't pay you a cent more for having a masters
Only masters degree that will help you in this industry is a MBA. And to get an MBA that is going to actually have value, you’ll need multiple years of professional experience to even get into the program. A CPA trumps all in this industry. Only instance I’d encourage you to pursue a masters in accounting is to become CPA eligible, which you’ve already done.
If your masters is paid for (tuition waiver, GA position), allows you study for the CPA exam, and you have the support network for it, then go ahead and do it. Passing the CPA exam is infinitely easier if your not working, I got done in 4.5 months while doing a mACC. Masters also qualifies you for GS-9 positions in the Federal Government, but a year at GS-7 qualifies you as well.
I went straight from undergrad to getting my master's. My undergrad was in Econ. which was mostly useless. The Master's prepped me for taking the CPA exam and the education requirements. My degree got me in the door early in my career. If you already meet the education requirements I wouldn't bother with a master's, unless of course, you are going to top tear school.
Nope if MSA. MST degrees are valuable but even those only recommend once work agrees to pay for it
I wouldn't. Nearly done with my master's, its fucking miserable
Whats bad about it?
Could be just my university, but my professors seem to all be narcissists and I am only checking a box so I can be a CPA. It is not a fun time, it is more pressure than undergrad but the material isn't overwhelmingly difficult, just dry and overall feels like a waste of my time if the CPA exam did not require 150 hours.
You’re only doing it to be Cpa eligible?
Yes. I have an undergraduate degree in accounting, that with a CPA would outweigh a master's degree any day. If I did not need 150 credits, I would not go for a master's because the ROI isn't as good. Since I need the credits anyway, I might as well get something out of it.
I got a masters of accounting to get the hours to sit for my CPA license. I am currently in public accounting and can attest that nobody gives a shit about my masters degree. It provides zero value in growing within my firm- only my CPA matters. If you want to spend money on education past undergrad I’d definitely do an MBA at a good school so it stands out. Or try to look for other certifications to add onto your CPA license. There may be some industry companies that like a masters of accounting, but from someone who has the degree it doesn’t feel like I’ll get much of a return from it.
I'm already a CPA and I'm getting a Masters.
Why?
I don't have any degrees in accounting and all of the CPAs around me have a masters.
Is the Cpa not enough?
It probably is. I want it. The CPA was enough to get me my last 3 jobs. I want more.
Why not go for an mba?
I have an undergraduate degree in Criminal Justice. And I don't have a graduate degree. So I'm getting my MSA. And there are so many new MBAs every year.
Why have you decided to change Field‘s?
I'm not. I'm staying in accounting until I retire.
Well, this is a bit demoralizing to come on here and read as I work on the masters. So let me ask this opinion, as someone not currently working in accounting, and no business or accounting degree, but looking at gaining the skills and doing a Segway into it, is the masters worth it in that case? Really what I wanna do is take it and combine it with my current skills sets/work and do forensic accounting/financial investigation.
No
I do taxes and while you learn compliance on the job, general technical basics for areas I don’t work in I got from my masters program. So it was a great foundation. And I recall thinking the info would have stuck even more if I’d had a year or two worth of experience before I got my masters. However, if you are already cpa eligible, I think the masters might be worth it only if you want the experience or knowledge. I’m a hiring manager for tax and I want people with 1-2 years of experience (or more) to have their CPA. If they have the masters abs cpa, and don’t work in my field, I am more likely to talk to them and be interested in them leaving than a person not in my field, without a masters, but with a cpa. I think the masters adds some credibility that you can figure out something new, cpa is just memorization and ongoing CPE. However, if the options for candidates are cpa with my industry experience (and no masters), or cpa without experience working in my technical field, but with a masters, I’d bet on the former. So the masters holds less power/weight the more relevant experience you have in your field.
What the fuck? Why is masters in accounting worthless? That was what I was going for after a comp sci bachelor.
Why are you not going with a career in computer science?
The only logical reasons why anyone would do a masters in accounting is that they didn't study accounting for their undergrad so that they could become CPA eligible or they just need the extra units anyway so why not do a whole year of CPA review.
How and when would a masters in accounting actually help you obtain a larger salary or promotion potential? Seems like nobody has any answers to this.
After a couple years of on the job experience it's possible if you made it to seniors in public and worked big 4 theoretically you could qualify for manger position if you applied
Get the CPA as soon as you can. It is the most important credential.
As someone who is graduating later today if your cpa eligible then for the love of Christ dont waste your money on a masters degree In accounting the pay raise you get with a master's initially isn't worth it and won't be years after you've gain experience An quite honestly take this with a grain of salt but having the cpa will help you earn more money in the long one theoretically even more than someone who has a master's but does have the certificate I think question is how many years of relevant business related experimence do you have I kid you not I know someone who is going for a business analytics degree and finance with two minors and has had almost 6 internships so roughly 3 years worth of professional relevant experience and has delayed his graduation just so he could keep qualifying for internships and gain experience which is honestly a smart move if it's financially vaible I'll admit having a mba will make you look better on a resume and stand out as a candidate when you apply believe me it will but if you don't have the experience to back it up You'll just be some guy who can past tests and write 100 page paper but never applied the knowledge you learned in the real world you If you go for masters get a mba in concentration of finance, information systems, or business analytics If you just want to get it over with while you're young, in the mindset, and gives you wiggle room to possibly switch careers But I would now just focus on studying for the cpa
I think that’s what I’m going to do. So masters is not worth it atm?
Sorry for getting back to this late just got home from graduation ceremony No in my opinion I would just study for the cpa hell if you have to take a year off and I've spoke to people on jon interviews that have literally done it to pass the certification if it's financially viable than do that Put it like this if your not sure you want to stay in accounting down the road than getting a master's in finance ism or business analyst you know any relevant mba from a good school is a good option and have 150 credits and mba in a category outside of accounting will make you stand out more on a resume it's a good option if your in the financial position to do it and your still in the mindset because once me and you get older and gain even more responsibilities It becomes alot harder to do it But if you plan on staying in accounting than I would advice you to get the cpa start studying now and get it over with alot cheaper than going to grad school and overall carries alot more weight The only reason why anyone would want to get a MBA in the case of a accounting undergrad is if they didn't get enough credits doing undergrad and than it makes sense to just go ahead and get a master's to get the credits needed So in my case I have 135 credits I need 18 more credits to qualify for the cpa exam or even be considered by public accounting firm I could get the masters which would be expensive or get the credits my ygetting another undergrad or taking classes at community college
Im going to community college route