[NumberCruncher4lyfe]

Current Dilemma: I am 25 years old and recently graduated from university in Virginia with a BS in Accounting this year. I am interested in going into public accounting and test the waters with auditing. However, it has been months on my job search and have had maybe 3 or 4 accounting firms contact me and after the interviews no offers. I just decided to enroll in the MS in Accounting program from Liberty University in Lynchburg, VA to enhance my chances of getting a job. In the meanwhile, I was just offered a job as an accounting clerk for a manufacturing company back home and the controller assures me that this position will help me get some kind of experience as some of the job duties include some operation audits (very light). Should I take the clerk position and use it for experience while I work on my MS in Accounting and then when i’m done with that move to public after having the masters degree? The reason that I am so eager to get the masters now is because a lot of jobs that I see even entry level staff accountant positions prefer someone who has completed the CPA or someone with a masters degree. Also, does the prestige of your school really matter? I’m afraid that since Liberty is not a well-known or even a less respected school that I won’t get hired by any of the big 4’s or any good larger company. Thoughts please!

[Iron_Victory]

OP don't listen to these people.

There is no significant ROI on a masters in accountancy.

You will pay for a masters degree and make the same amount of money as people with BS/BA degrees.

You will not solve your issue of being looked over for public accounting positions.

You have no evidence that this school is one that Big 4 recruit from or in fact it is a school carries any weight with any potential future employer.

Being positive is one thing, making uninformed/bad decisions is quite another.

AUD - (74),78
BEC - 85
FAR - 86
REG - 84

[tough_kitty]

I agree, getting a MS degree in the same field as your B.S. degree seems redundant. If anything, you should consider a MS in Taxation.

As far as jobs, if you need to pay your bills, you should accept the first offer you get and then keep looking for something better.

FAR: 81 (May 2013)
BEC: 81 (July 2013)
REG: 83 (August 2013)
AUD: 82 (November 2013)
California CPA since 1/30/14

[tough_kitty]

I agree, getting a MS degree in the same field as your B.S. degree seems redundant. If anything, you should consider a MS in Taxation.

As far as jobs, if you need to pay your bills, you should accept the first offer you get and then keep looking for something better.

FAR: 81 (May 2013)
BEC: 81 (July 2013)
REG: 83 (August 2013)
AUD: 82 (November 2013)
California CPA since 1/30/14

[MarathonRunner1]

Op,

Here's the thing, I've seen a lot of talented people accept an accounting clerk type position right after college that leads them into an abyss of private industry type jobs at small companies. Granted, this is okay for a lot of people and their circumstances. Also there are exceptions in which people start in private and then go into public. However, to address your goals, your best shot at getting into a top international public accounting firm is while you are in school (or shortly thereafter). In fact, I was recruited to a top 5 public accounting firm 15 months before I graduated with my B.S, spent 3 years in public, then I was recruited into a Fortune 20 Financial Services company with a 70% salary increase. My point is simple, public accounting right out of college (either B.S. or M.S.) is a fast track into your career. There are many paths to this destination, but landing a job at a top public accounting firm early on is going to be a huge asset to your career.

AUD: 94 (Nov. 2013)
FAR: 76 (Oct. 2013)
BEC: 79 (Nov. 2012)
REG: 84 (Dec. 2013) It's Mile 26.2, and we finished. Blood, sweat and tears, passion, perseverance, and never giving up, we did it!

California Candidate

[MarathonRunner1]

Op,

Here's the thing, I've seen a lot of talented people accept an accounting clerk type position right after college that leads them into an abyss of private industry type jobs at small companies. Granted, this is okay for a lot of people and their circumstances. Also there are exceptions in which people start in private and then go into public. However, to address your goals, your best shot at getting into a top international public accounting firm is while you are in school (or shortly thereafter). In fact, I was recruited to a top 5 public accounting firm 15 months before I graduated with my B.S, spent 3 years in public, then I was recruited into a Fortune 20 Financial Services company with a 70% salary increase. My point is simple, public accounting right out of college (either B.S. or M.S.) is a fast track into your career. There are many paths to this destination, but landing a job at a top public accounting firm early on is going to be a huge asset to your career.

AUD: 94 (Nov. 2013)
FAR: 76 (Oct. 2013)
BEC: 79 (Nov. 2012)
REG: 84 (Dec. 2013) It's Mile 26.2, and we finished. Blood, sweat and tears, passion, perseverance, and never giving up, we did it!

California Candidate

[NumberCruncher4lyfe]

@MarathonRunner1 Thank you for your feedback and you make some very valid points. I am very indecisive on this whole masters thing. I know that people even with a MS in Accounting still can't get a job. However, I do know that my chances are better and I will kill a lot of competition for some entry level jobs. I just really don't know if it is worth it for me to take on that much debt. But as it looks I'd prefer to take on 16,000 in student loans and have a total of $54k in student loan debt just to avoid these lame jobs like accounts payable. Liberty does have a career fair every semester but there are only two local firms that are there Tate & Tryon in DC and Brown Edwards in VA. So I don't know if its worth it. But thank you for your feedback

[NumberCruncher4lyfe]

@MarathonRunner1 Thank you for your feedback and you make some very valid points. I am very indecisive on this whole masters thing. I know that people even with a MS in Accounting still can't get a job. However, I do know that my chances are better and I will kill a lot of competition for some entry level jobs. I just really don't know if it is worth it for me to take on that much debt. But as it looks I'd prefer to take on 16,000 in student loans and have a total of $54k in student loan debt just to avoid these lame jobs like accounts payable. Liberty does have a career fair every semester but there are only two local firms that are there Tate & Tryon in DC and Brown Edwards in VA. So I don't know if its worth it. But thank you for your feedback

[NumberCruncher4lyfe]

@iron_victory…..your points are valid and I am in agreement with the MSA not having a proven ROI. However, a lot of people that are applying for these entry level jobs hold masters and it is essentially killing the competition for people with only a bachelors. So that's what i'm looking at is improving my chances

[NumberCruncher4lyfe]

@iron_victory…..your points are valid and I am in agreement with the MSA not having a proven ROI. However, a lot of people that are applying for these entry level jobs hold masters and it is essentially killing the competition for people with only a bachelors. So that's what i'm looking at is improving my chances

[lalap]

Hi OP! Have you looked at other MS program? Why do you only pick Liberty?

I got my MS in Accounting for the same reason- a job in public accounting. I graduated with my Bachelor degree back in 2010, worked for one year as a office manager/accounting clerk (I was bored after 4 months) then went back for Master. I picked my school solely based on recruiting stats (hiring firm, hiring rate, etc). There is a school that only 25 minutes away from my old place but they only have small selections when it comes to recruiting. So I actually moved 4 hours away, meaning leaving my comfort zone and doing LDR with my boyfriend so I can get a job in public. I did exactly what MarathonRunner1 wrote in grad school. I joined multiple clubs and always attended recruiting events (kiss ass? yes. but I want a job!!). In the end I got an offer from one of the Big 4 and… still doing LDR with bf. not sure what's gonna happen. lol.

Oh and I had graduate assistanship too (tuition waiver) so grad school was affordable.

Passed

[lalap]

Hi OP! Have you looked at other MS program? Why do you only pick Liberty?

I got my MS in Accounting for the same reason- a job in public accounting. I graduated with my Bachelor degree back in 2010, worked for one year as a office manager/accounting clerk (I was bored after 4 months) then went back for Master. I picked my school solely based on recruiting stats (hiring firm, hiring rate, etc). There is a school that only 25 minutes away from my old place but they only have small selections when it comes to recruiting. So I actually moved 4 hours away, meaning leaving my comfort zone and doing LDR with my boyfriend so I can get a job in public. I did exactly what MarathonRunner1 wrote in grad school. I joined multiple clubs and always attended recruiting events (kiss ass? yes. but I want a job!!). In the end I got an offer from one of the Big 4 and… still doing LDR with bf. not sure what's gonna happen. lol.

Oh and I had graduate assistanship too (tuition waiver) so grad school was affordable.

Passed

[NumberCruncher4lyfe]

@lalap I chose Liberty because it is affordable and it actually has a campus. The program is solely online though. It gives me convenience to work full time and do grad school at the same time. My only other option is to complete the program at Virginia Tech but I doubt that I would get in with my undergrad gpa. The gpa is also apart of my problem because I had a 2.7 gpa which is low. I also worked a lot and was heavily involved with my fraternity so it dampered my time to focus on academics but nonetheless I graduated.

[NumberCruncher4lyfe]

@lalap I chose Liberty because it is affordable and it actually has a campus. The program is solely online though. It gives me convenience to work full time and do grad school at the same time. My only other option is to complete the program at Virginia Tech but I doubt that I would get in with my undergrad gpa. The gpa is also apart of my problem because I had a 2.7 gpa which is low. I also worked a lot and was heavily involved with my fraternity so it dampered my time to focus on academics but nonetheless I graduated.

[MarathonRunner1]

OP,

To readdress the caveat I mentioned earlier, nobody knows your circumstances better than you do. However, all we can to is try to give advice that may seem beneficial from our limited perspective. However, from reading your posts, I think that your two biggest challenges to landing an entry level job at a top public accounting firm are: 1) GPA and 2) Exposure. The good is is that you can overcome these challenges. Here are some options that may be helpful to you.

1) Undergraduate GPA: Hitting the books hard in a master's program will cover your undergraduate GPA. Another option is adding an additional concentration to your undergrad business degree (i.e. finance, economics, etc) to possibly boost your GPA as it relates specifically to your “Major GPA.” Even with an overall lower GPA you can always feature your “Major GPA” as your selling point if it is more attractive than your overall GPA. Granted, if you are asked for your overall GPA, then disclose it.

2) Exposure: I would research which schools in your area have strong Accounting Club memberships that have solid campus recruiting events with the companies you are interested in working at. Interestingly, you can sometimes find State schools that may not seem to have an overall high reputation that does have a solid Accounting program reputation. It might not be a bad idea to start a thread on this forum asking others if they know of any solid Accounting programs in your area that you qualify for. Even if you take a few courses to add an extra concentration to your undergrad, it would at least keep you in the game.

3) A third option: Would the accounting clerk position be reporting to a CPA? If so, maybe you can take the position, pass the exams, and be a CPA a year from now. From there, you will be attractive to any entry level public accounting job if your are already licensed.

Again, only you know your circumstance, but these are just a few points that I hope are in some way beneficial to you. Getting started in this profession can be a tough process. The fact that you have an offer is a blessing. However, we all know the benefits of riding the fast tracts of Financial Audit. Let me know if you have anymore questions. I was in your shoes 6 years ago and I know it can be tough.

AUD: 94 (Nov. 2013)
FAR: 76 (Oct. 2013)
BEC: 79 (Nov. 2012)
REG: 84 (Dec. 2013) It's Mile 26.2, and we finished. Blood, sweat and tears, passion, perseverance, and never giving up, we did it!

California Candidate

[MarathonRunner1]

OP,

To readdress the caveat I mentioned earlier, nobody knows your circumstances better than you do. However, all we can to is try to give advice that may seem beneficial from our limited perspective. However, from reading your posts, I think that your two biggest challenges to landing an entry level job at a top public accounting firm are: 1) GPA and 2) Exposure. The good is is that you can overcome these challenges. Here are some options that may be helpful to you.

1) Undergraduate GPA: Hitting the books hard in a master's program will cover your undergraduate GPA. Another option is adding an additional concentration to your undergrad business degree (i.e. finance, economics, etc) to possibly boost your GPA as it relates specifically to your “Major GPA.” Even with an overall lower GPA you can always feature your “Major GPA” as your selling point if it is more attractive than your overall GPA. Granted, if you are asked for your overall GPA, then disclose it.

2) Exposure: I would research which schools in your area have strong Accounting Club memberships that have solid campus recruiting events with the companies you are interested in working at. Interestingly, you can sometimes find State schools that may not seem to have an overall high reputation that does have a solid Accounting program reputation. It might not be a bad idea to start a thread on this forum asking others if they know of any solid Accounting programs in your area that you qualify for. Even if you take a few courses to add an extra concentration to your undergrad, it would at least keep you in the game.

3) A third option: Would the accounting clerk position be reporting to a CPA? If so, maybe you can take the position, pass the exams, and be a CPA a year from now. From there, you will be attractive to any entry level public accounting job if your are already licensed.

Again, only you know your circumstance, but these are just a few points that I hope are in some way beneficial to you. Getting started in this profession can be a tough process. The fact that you have an offer is a blessing. However, we all know the benefits of riding the fast tracts of Financial Audit. Let me know if you have anymore questions. I was in your shoes 6 years ago and I know it can be tough.

AUD: 94 (Nov. 2013)
FAR: 76 (Oct. 2013)
BEC: 79 (Nov. 2012)
REG: 84 (Dec. 2013) It's Mile 26.2, and we finished. Blood, sweat and tears, passion, perseverance, and never giving up, we did it!

California Candidate

[Author]

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