[jeff]

“For Newly Minted M.B.A.s, a Smaller Paycheck Awaits”

Link: Wall Street Journal article

[magatha12]

I think it depends on the hiring manager. I am classmates with someone who is a controller at a company who does a lot of hiring and he refuses to look at resumes with online degrees. Not to be discouraging, but it may just depend on who the hiring manager (aka your future boss) is looking for

FAR: 79
AUD: 81
REG:5/29/15
BEC:85

Using CPA Excel, NINJA notes and audio, NINJA MCQs

[Noct]

@nbad311

I completed my undergrad at University of Phoenix (on ground, not online). In my experience the education was pretty weak, and I got the impression that anyone could graduate if they were simply patient enough to sit through all the classes. If I'm ever an employer, I will consider such degrees as one notch above liberal arts. The only reason I chose to attend UOP is that it wouldn't interfere with my work schedule (60+ hours/week at the time) and it would allow me to sit for the CPA exam. I'm essentially banking on my certification and work experience to prove my competency as I know my degree will not.

In my opinion, with today's job market where graduates from traditional universities are having difficulty finding work, these online universities are grossly overpriced for the value they provide.

FAR - 79 - 07/2012
AUD - 65, 78 - 11/2012
BEC - 76 - 11/2012
REG - 78 - 01/2013
ETH - 98 - 01/2013

Material: Wiley books

[romo86]

I definitely agree that getting your MBA only pays off if you go to a top school, but that is mostly from the networking advantages and prestige that open doors for future career opportunities. There are a lot of great lessons to be taught about management, seeing the big picture, etc., in these programs too, but for the most part they are lacking when it comes to the technical financial and accounting skills – not that technical skills are necessarily important to everyone, of course.

From what I have gathered by talking with older professionals who worked in the 80s and early 90s, getting your MBA was basically a “rite of passage” in some fields. You would work out of an undergraduate program, receive a few promotions, and then to continue climbing the ladder you went for an MBA. This was especially true in Investment Banking, but these trends have been slowly starting to die out….people can continue advancing without it nowadays and in many cases the opportunity costs of leaving for a few years now outweigh the respective benefits.

I just graduated from the Masters in Security Analysis and Portfolio Management (MSAPM) program, which is basically a Masters in Finance, at Creighton University and think that it was absolutely worth it. I worked a full time professional job and took classes at night, so didn't miss out on the work experience. I think a Masters in Accounting would be just as useful. I was an Accounting and Finance dual major for my undergraduate degree and it amazes me how much more I know today than back then.

The other week I was offered a position at a Big 4, so I think it definitely paid off and will continue to do so.

*Apologies for the long post, but I was trying to avoid studying

BEC - 85
REG - 75
AUD - TBD
FAR - 82

CFA Level III Candidate (June 2013)

[Gerg, CPA]

i got my MBA in 2009, nearly 2 years before i took my 1st section of the CPA exam. I agree that it doesn't mean as much as it once did, but vs a candidate with similar experience (& mutual lack of CPA), having an MBA gives you a slight edge.

Definitely think that a masters of financial services or masters of tax is much more valuable in the accounting field. MBA not as much…

FAR - 1/26/2012 - PASSED (78, but Lost credit), re-do 11/27/2013 - PASSED (87)!
AUD - EPIC FAIL, 71, 69; 68; 5/25/2013 - PASSED (85)!
REG - 10/1/2012 - 72; 7/1/2013 - 73 UGH, 10/1/2013 - PASSED (85)!
BEC - 2/28/2013 - PASSED (82)!
Licensed CPA!

Used Becker self-study materials (just this for FAR original & REG #1), WileyTestBank, NINJA notes/audio, and Roger cram course for AUD #5, REG #3 & FAR reboot. CPA!

[univegabw]

I am luckily going to avoid the MBA route for now as I will be graduating and attempting to pass the CPA exam Dec2013/Jan2014 and therefore avoiding the 150 hour requirement if I can pass within the 2014 year. If I fail I actually have 131 credits at graduation and may just go for a bachelor's in another field since I am 7 classes away from a Computer Science degree also.

The cost right now just doesn't justify it to me right away. I have fought to stay out of debt through the 4 year experience and to just fall into $20-30,000 in debt for the MBA I think would be unwise immediately. Now this may all prove to be moot if I can't pass the CPA exam in 2014. Definitely going to be a NINJA ahead of time! Hope to supplement with CPAEXCEL or Roger's.

A- 53, 55
B- Passed!
F- Not Yet Taken
R- 1/17/2015

[univegabw]

How about an online Master's of Taxation? What kind of pull does that have? The University of Denver (DU) offers it and it would be the same price as an MBA with an emphasis in Accounting from my current school…without taking similar classes I have already taken.

A- 53, 55
B- Passed!
F- Not Yet Taken
R- 1/17/2015

[Anonymous]

MBA does help me alot…. It broadens my perspective especially leadership side… no complaint….:)

[Anonymous]

@Noct

Not only MBA's but I think Master Degrees in general are dragging the value of advanced degree's down. My sister completed a Masters program (University of Phoenix) in Traning of all things. Didn't help and she is still a receptionist making too little to pay back her Student Loans.

The interesting reason is why she went back to school, she had her student loans from Bachelors degree to pay and realized she would have a deferment if she were in school. She returned to school and was able to delay the payments while in school and the little bit after. Now because she has more debt and the same income she pays a reduced loan repayment (but more over the long run). So her Masters Degree saves her about $250 per month. Pretty sad.

[Noct]

@efcornell

Welcome to the next “economic bubble”. It's essentially the same thing we saw with housing.

The government subsidizes loans and grants for education allowing more people to attend college than normally would. Demand for education goes up, so costs go up. Eventually, the market responds by adding more programs and hiring teachers who previously wouldn't “make the cut” to accommodate the increased volume, and the “quality” of education decreases. Finally, the labor market becomes flooded with college graduates. As supply rises, compensation and job availability drops. Now we're at the tipping point where the cost of education outweighs its benefit such that the aforementioned subsidized loans cannot be repaid.

Amazing how everything comes down to economics. Even more amazing is that the government thinks they can control the economy. Try as they might, the free market prevails like a force of nature.

FAR - 79 - 07/2012
AUD - 65, 78 - 11/2012
BEC - 76 - 11/2012
REG - 78 - 01/2013
ETH - 98 - 01/2013

Material: Wiley books

[Author]

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