[ParanoidAndroid]

I’m already a CPA, but I’ve been thinking a lot about going for my Macc so I can get a real job. It seems like that’s my last resort. I already have 12 Master level credits, but those credits would not transfer because I plan to attend a different university due to its prestige and networking opportunities. The program costs $28,000 and runs for 10 months on Saturdays only from 8am-6pm…2 hrs away from where I live…

Does this seem a reasonable idea or am I losing it? =P

CPA for life...

[jeff]

I've worked for 2 publicly traded companies. No one in the accounting side (including controllers and CFOs) had masters degrees. Others may work in orgs where they do … I suppose personal experience does shape perspective on the issue.

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Allergic2CPA]

@Jeff…it’s true that many in current management positions may not have a Master’s but of course they have tons of experience.

From my personal experience, many in management positions with my current employer do not have Master degrees as you say. However, let’s keep in mind that these professionals got their bachelors in the ‘80s and ‘90s, which at the time was all you needed. Nowadays professionals from my generation (I’m in my late 20s) pretty much need a Masters for just about anything really. It seems that the bachelors degree became saturated so now the bar is set higher. So it’s possible for current management to not have a Masters while younger accountants need a Masters even for lesser positions.

FAR 46*, 77
AUD 70, 79
BEC 67, 82
REG 75

Texas License July 2013

Used Yaeger lectures based on Wiley textbooks

*Studied less than two weeks, forgot I had purchased NTS.

[laserglare]

^ very true allergic. that's why im considering getting a masters -_- i dont know anymore lol

[scestone]

I honestly think a Macc in a total waste of time as well if you are already a CPA.

The main reason that most of us get it is to meet the 150 credit requirement to become a CPA.

I will however agree with you that it will affect your salary but I'm not sure by how much.

When I received the offer for my position, before telling me my salary HR asked me if I am “definitely” getting a master's degree. I'm not sure what the difference in pay would have been otherwise but I doubt it would have been that significant. If you're going to get more schooling an MBA is probably more valuable or just go for another designation. CFE, CFA, CMA, etc. depending on the kind of work you are doing.

REG - 95
FAR - 96
BEC - 92
AUD - 99

[Anonymous]

Why not apply to law school and get your J.D.? J.D. goes really well with a CPA. Especially if you're looking for a position as a CFO.

[ParanoidAndroid]

@BHDave10…I'm cool..All I've ever wanted to do since my childhood is public accounting (audit) for the rest of my days…

CPA for life...

[wizards8507]

I completely agree with Jeff. I'm in the controllership of a major media conglomerate and nobody gives a hoot about Masters in Accounting degrees. The only people with MAccs or MSAs are people who needed them on the way to their CPA. An MBA is much more highly regarded, MBA programs focus on leadership. MAcc programs focus on technical skills. You've already proven your technical skills with the CPA designation.

To the OP… I'm curious why you don't think you can get a “real” job considering you already have your CPA. If you're bombing interviews or have weak networking skills, a MAcc won't help you.

NY CPA

[jeff]

How many Fortune 500 CFOs out there have CPA/JDs?

“Less than 1%” would be my guess.

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[ParanoidAndroid]

@wizards8507….I think people just dislike me cuz I'm tall and handsome..and they're not 😉

CPA for life...

[Anonymous]

Have someone in public accounting or that does hiring in another industry give a face to face critique of your resume. My Dad has assisted engineers with the same with good results! It is your 15 second elevator speech.

A resume doesn't mean much in public accounting, it is more of “do you meet requirements”, and what your strengths are (clean it up, take out irrelevant information and cliche skills and personality traits.)

I agree that a MAcc for auditing is definitely a waste of $ and time if you already have your license. More valuable if in tax.

[ParanoidAndroid]

I'm gonna forget about accounting for a couple of days then… =]…I think I just need to be patient….

CPA for life...

[Anonymous]

@Jeff not many people will get the opportunity to become a CFO of a Fortune 500 Company. However, there are many mid size companies out there.

For example, the company I work for has revenue of about 300 million per year. The CFO here is a CPA/JD and he is drowning in money.

I was just giving the guy a different option. You could also become a tax attorney with those letters.

[jeff]

You're forgoing 3 years of CPA income + benefits + Law School costs … just offering the other side.

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[ncuser]

My situation is backwards from this one, I got my Masters in Accounting late last year. I didn't have an undergraduate in accounting and needed the accounting hours so getting that wasn't alot more classes than just getting my Masters. My job isn't accounting related so I need all of the info I can get as I start the exam process. Me and my wife were taking graduate classes at the same time so our house was more than a bit stressful. I think it was worth it for the long run, and I had already paid off one student loan so I figured why not another 🙂 I also think that has motivate me because I wasn't sure if I could do it and I did, kind of my first feelings looking at the cpa exams.

Started exam prep
July 2013 Far (had to reschedule)
August 2013 Aud
October 2013 Reg
November 2013 Bec
Jan-Feb 2014 Far

[Author]

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