[testsz]

Hello everyone.

First time user and viewer of this website and I am truly amazed at the amount of discussion that goes on around here. The level of help that posters receive is outstanding!

I am in a dilemma and need your help. I am currently 22 years old and will be graduating from UCR (University of California Riverside) with a BS degree and a concentration in Accounting in one month. Throughout university I did not attain any accounting experience whatsoever because I decided to travel during the summer and work a part-time job and take classes. I regret not attaining any internships right now because it seems 95% of entry-level jobs require relevant experience (and internships usually lead to job offers). In addition, I networked a little bit….but due to personal and financial issues decided to scoff job-hunting until post-graduation (which I regret again). Fortunately I kept my grades up (3.75 GPA) and attained volunteer experience at a religious temple and hospital.

The next step is to look for an accounting-related job whilst studying to pass the CPA exam. Unfortunately, I still need 2 more accounting courses to sit for the exam (and 41 more units to become licensed) and need to figure out how to get thees units. My university just devised a new masters in accounting program (MPAC or Masters of professional accountancy) which starts this fall. If I decide to go this route I need to fill out the application and still take the GMAT (I have not prepared for the test whatsoever…not sure how well I would do by winging it). The other route is to take on a piece-meal approach which is taking extra courses via extension and CC. From a cost-benefit analysis, a year for the MPAC is about 35k with an additional year of networking opportunity; however, I don’t think the program would really improve my “educational accounting” skills much because the program is VERY new and it seems like it was particularly devised just to help fulfill the new CPA California requirements. The main selling point for the program is the networking opportunities and the “masters” over bachelors (From what I have read on the forums…most employers don’t care if you have a masters in accounting as long as you have your CPA).

The other choice is to take classes while studying to pass the CPA exam and looking for a job.

Which choice do you think is best to pursue?

It seems like the MPAC program would be the best route…but I don’t know if I want to dish out 38k for a program that doesn’t really feel like a true masters program.

Any help would be much obliged.

P.S. How to get your foot in the door for an accounting job (public preferred…but in this market I will take any Accounting job).

I did not develop any networking abilities….so any help with that would be much appreciated.

Thanks!

[Tux]

It's always a tough call deciding if a masters degree is worth the time and money. It's definitely a valued credential in the workplace, and sometimes even required. (I regret not getting a masters). But, like you mentioned, the CPA counts for a hell of a lot, too. So, considering that, and your obvious doubts about this particular master program, I would say to get the CPA first.

Take your remaining 2 courses via community college or online or whatever it takes to get them out of the way, then take the CPA exam. You can always get your masters after the CPA. If you get the masters, make sure that it's a program you have confidence in, and that will make a difference in your career. Your doubts about this program make it clear that you should NOT commit to it at this time. Shop around at different schools for something that you believe in and KNOW will be worth your money.

For work experience, since you're already volunteering, ask if you can get experience there, even if it's for free. Or, at least start your networking there. Ask anyone that you've volunteered with if they know of a CPA that you can work with for experience.

Since you say that you don't have networking abilities, I'll mention this – Anyone and anywhere is a potential for networking. Just talk to anyone and everyone that you know. Let them know your position – you're looking for work experience to become a CPA. So, ask your dentist, doctor, volunteer coordinator, trainer at the gym, rabbi/priest, friends, friends' parents, etc, etc, etc. Ask who is their CPA. Get the CPA's contact info. Call or email them and say that so-and-so referred you. You're a student and interested in getting work experience. DON'T directly ask them for a job. Just ask if they have any advice for you on how you can get experience and/or if they know of anyone that might hire someone right out of school.

The more you talk to people about it, the better you'll get at explaining your situation, asking the right questions, etc. Just keep seeking information, and you will be guided to the right opportunities. Knowledge is power.

FAR - 86 - 2/27/14
AUD - 75 - 5/29/14
BEC - 80 - 8/31/14
REG - 89 - 2/27/15
Praise Jesus! I'm done!!

Study resources:
Becker
Wiley test bank

[testsz]

Wow, thank you for the detailed response Tux!

[Whatdidyou]

I ended up with a great public accounting job offer while attending my Masters program. I didn't have any real relevant experience either (asides from a a/r a/p positon).

You don't have to go to the same school that you did your undergrad at. In fact, from what you say it sounds like you shouldn't. 35K seems like alot for just tuition – I'm know there are some excellent out-of-state programs that are cheaper than that.

Also you can always apply for scholarships. I was late in applying to my Masters program, so missed many different scholarships (such as the State Board of Accounting scholarships). I upgraded, from an okay accounting school in undergrad to a very good one for my Masters, tuition was around 21K, after scholarships/stipends 9K. As I was late in applying (but not as late as you), I only filled out the generic accounting banquet scholarship app and an application to be a TA and still came out pretty good – a high GPA, scholarships reserved for Masters students, and decent writing skills can do that.

If I were you I would consider, taking a gap year. Trying to get an accounting or any business-related job soon, work, save money, research Masters programs, study & take the GMAT, reseach and apply for scholarships in the state of your future masters program (some deadlines are alot earlier than expected), and prepare for recruiting season.

With your high undergrad GPA, hopefully interesting resume enhancing experiences during the year, working towards CPA eligibility, and being in a good Masters program, I think your chances are pretty decent. Heck, you can even try to get an internship the summer before your program starts.

REG - Passed!!
BEC - Passed
FAR - Passed
AUD - Passed

Study Materials: Becker basic course

[testsz]

Thanks for the reply Whatdidyou.

Do you think it is a good idea to get any job (even non business related) while looking for real job? My parents allowing me to stay with them and don't have to pay any of the expenses…but I don't want to sit on my hands while I am looking for a job.

Any ideas of what type of volunteer work I can acquire? I know there is a VITA (volunteer tax assistance) program that occurs every winter/spring season and I will apply for that.

Does H&R block have any opportunities to volunteer (and are they worth it)?

Thanks for the help

[Tux]

Testsz –

A business related volunteer job is better than a paying non-related job, if you can afford it.

YES – do VITA. In fact, my local VITA organization is open year-round with reduced hours. So, you may be able to work with them NOW. Don't need to wait for tax season.

YES, H&R Block is good experience. I don't believe they have volunteer jobs, but NOW is the time to sign up for their fall tax classes which are required to get a job with them. They're pretty easy to get a job with, so if nothing else comes up, definitely try to get a job there, even if temporary. They have reduced hours year-round too, so it's not just for tax season.

Other accounting related volunteer jobs are available in more places that you'd think. You're right that you shouldn't do nothing while not working. Find a way to get experience any way you can.

Talk to someone at your church/temple. Maybe they could use your help with accounting or bookkeeping. Look up any organization that you're interested in and they have a need for accounting help – orphans, animal rescue, your local CPA organization would have various volunteer opportunities. Ask any CPA that your parents know, or your parents' friends know, or your friends' parents know – ask if you can do a free internship with them until you find a job elsewhere.

Who knows? A volunteer job can turn into a paying job.

FAR - 86 - 2/27/14
AUD - 75 - 5/29/14
BEC - 80 - 8/31/14
REG - 89 - 2/27/15
Praise Jesus! I'm done!!

Study resources:
Becker
Wiley test bank

[testsz]

Thanks for the help guys.

Bumping this thread in hopes of more input!

[foreseeableCPA]

I feel your pain on graduating and not having a secured job. I graduated this past June from a UC. I'm currently taking CC classes and Becker live classes. I've been applying and am hoping that employers will see that I am goal oriented when I start passing exams. Im waiting on my FAR score which should be coming in soon. CC isn't a bad choice, but sometimes I feel that I am wasting precious time that I could be using in getting a masters. I don't have the money to pay for a masters program, nor do I personally think its worth it at this time. Good luck..

CPA - Class of 2013
CIA - Class of 2016

[testsz]

foreseeableCPA,

Are you only applying online, or also trying to use your network to find a job?

It seems like applying online is a waste of time and now its all about who you know.

Unfortunately I didn't establish much of a network at university and deeply regret it now.

It sucks but you always have to be positive I guess.

[foreseeableCPA]

@testsz

I'm doing both, applying through my schools site and talking to friends/family. Many of my friends got jobs upon graduation, but they also had internships. I didnt have any internships in the accounting field, as I came home in the summer to take care of my grandma. Stay positive, it'll be rough at first, especially if you have to move back home haha. I suggest that you start working towards the 150 anyway you can and start studying for the exams. Since youll be graduating, try to use any free time wisely. It'll be harder to pass the exams when you have a full time accounting job so try to knock some of them out right away. Where do you live? Im from socal..

CPA - Class of 2013
CIA - Class of 2016

[testsz]

@foreseeableCPA

Really? I am also from Southern California hahaha. Where did you go to school? I went to UCR.

Yeah man, the plan is to knock out some of the exams and take courses via CC while I am looking for an Accounting job. Did your friends get internships/jobs via OCI (On Campus Recruiting)? Unfortunately I didn't really partake in this system. I worked menial jobs and spent summers either taking extra classes/traveling/and this last summer taking care of my sick grandparents as well.

Are you a part of any organizations? I was thinking about joining ALPFA, BAP, and the local accounting chapter. Do you think it is worth networking with these groups? Most of my friends networked with ALPFA and got their foot in the door through the organization.

Any help would be much obliged.

[testsz]

Bump

[Author]

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