[HoosierDaddy]

I have been considering a masters in accounting but I i’m not sure if it’s worth it. Most of the masters in accounting programs are geared towards preparing students for the CPA exam. If you went through a rigorous undergraduate accounting program, i’m not sure how much there is to gain from taking a masters in accounting unless you found a specialty masters in forensics, fraud, or anti-money laundering.

I’m thinking an MBA might be better if you already have your CPA. Even a masters in Entrepreneurship, Information Systems, or Management might be better than a masters in Accounting.

Thanks for any advice.

-Passed all four sections of CPA exam in 2010 using Becker.
-Former Seasonal Audit Senior with Big Four accounting firm.
-Plan to sit for Certified Fraud Examiner (CFE) and Certified Anti-Money Laundering Specialist (CAMS)

[EuroAddict]

I would feel the masters would be a waste of your time. I have a buddy who got his CPA last year (has masters) and his firm ( a national one) suggested he go get another masters specialized in tax. To me that would be a another waste of time. You learn more hands on, not from being lectured to.

-----------------------------
BEC - 77, 03/2015 (first try)
FAR - 79, 05/2015 (second try)
REG - 83, 12/2015 (first try)
AUD - 84, 03/2015 (first try)

I got 99 problems but the CPA ain't one.

[AccountantPinkHair]

I think either would be okay, maybe more towards MBA. A lot of other CPAs in the job market are going to have either a MS or MBA. I got my MS Accounting degree and sometimes I wish I had gone for the MBA with an emphasis in accounting instead just so I would have a more rounded business degree instead of one focused solely on accounting. Either way I DO NOT regret getting my Masters.

AUD - 72, 81
FAR - 71, 78
REG - 60, 78
BEC - 60, 71, 71

IF I FALL, I WILL GET BACK UP. IF I AM BEATEN, I WILL RETURN.

[JohnWayneIsGod]

You don't need a Master in Accounting.

Before picking a graduate degree, you should ask ‘what goal will this help me achieve?' If you are doing it just to fill out a line on your resume, then you are doing it for the wrong reasons. As for an MBA, I don't think much of the degree. Most MBAs I have met don't really use it. The only way I'd recommend someone get an MBA is if they are accepted to a top school and have mapped out a goal that requires an MBA.

FAR - 80

Courage is being scared to death, but saddling up anyway.

-John Wayne

[Nessie]

I am about to graduate with an MBA geared at meeting the CPA licensure requirements, I also attend school with people who are getting an MBA and MS in Tax. Ummmm…Depends what you want to do. With an MBA you have to take classes in statistics, IT, business policy, management, economics, finance law, etc. Getting the MS in Tax would mean another 10 courses in things like estate taxes etc. Am I more educated than someone with just an MS in Tax, yes, but not sure if that will make a difference in the work world.

If you want to start a business one day, I think having a broad education is helpful. Also, most C-suite types have an MBA. It all depends what you want to do. It can’t hurt, but will take about 2 years to complete. I think a great combo is an MBA with a finance focus and a CPA. You can challenge all the finance types because you will know the numbers *and* what goes on behind them.

REG Aug 20/15: 88
AUD: Feb 29/16: 80
FAR: Jun 10/16: 80
BEC?

Becker self-study, Becker Final Review & NINJA MCQS

[Stilgoin]

I have an MBA and will have the CPA around June if it works out. Business consulting is a large part of my career, and will be bigger as soon as I start my own practice. I guess it really depends on your personal goals. My target market will be sole-proprietors and small businesses because I live in a rural area. If you intend to branch out at some point, an MBA is beneficial. If you want to be an accounting expert, then get a Macc, or tax- then an MS in tax. Look at where you want to be in 10, 15, 20 years, and obtain the credentials to get there. MBA is more of a ‘big picture’ type business degree and suited me better because I already own a business.

Whatever you do, good luck! All education is useful at some point.

B | 62, 78
A | 73, 67, 79
R | 82
F | 59, 59, Waiting

Ethics | 93

"Success is not final, failure is not fatal: it is the courage to continue that counts."
~Winston Churchill

“In a world full of critics, be an encourager."

[Andyred04]

After graduating with my undergrad in accounting in December 2014 I definitely knew I wanted to get a master's degree because I still needed about 15 credits for the 150 and I didn't just want to take joke classes, I wanted something to show for the credits. I debated heavily on whether I wanted to pursue an MBA or MAcc. Decided on the MBA and definitely feel like I made the right choice. In my opinion an accountant with a good understanding of all fields of business is far more marketable than an accountant with only an understanding for the financials. I'm only 22 now so I haven't felt the benefits of my MBA yet, but I'm confident that down the road it will pay huge dividends. I highly recommend pursuing your MBA.

FAR: 80 (Gleim, Ninja Notes, Ninja MCQs)
REG: 87 (Gleim, Ninja Notes, Ninja MCQs)
BEC: 87 (Gleim, Ninja Notes, Ninja MCQs)
AUD: 8/27/16

PA Candidate

[MaLoTu]

Most partners I have met that have post-bachelor degrees have MBAs. The MST makes sense for a firm to want a tax person to get because it is becoming almost a standard in public accounting.

[Gronk-a-donk]

If you have your CPA, a MACC or MTAX would be a colossal waste of money in my opinion. The networking opportunities, marketable skills and opportunities would be much broader in an MBA. From what I've seen, those who got a MACC/MTAX don't have a significant edge in accounting skills over those who didn't get an advanced accounting degree. The work is where you can separate yourself. The other side of that is the MTAX and MACC in my state (AZ) are only M-F on campus during business hours. So you may have to factor in lost income if you are comparing the MACC/MTAX vs part time MBA.

The one advantage to that program over the MBA is that the career fairs for accountants feature all the Big 4 and most large national firms recrutiing on top program campuses. I'm not sure how many of them attend the MBA career nights. So if you are looking to break in to public, that might be something to consider as well.

That's just my 2 cents, I've only been in public for a year, so take it for what it's worth. Best of luck in your decision!

FAR - Passed!
BEC - Passed!
AUD - Passed!
REG - August 2016

"Be the type of person that when your feet touch the floor in the morning, the devil says 'aww s***, they're up'" - Dwayne Johnson

[HoosierDaddy]

Thanks for the advice. I would love to enroll in the West Virginia University masters in Forensic Accounting and Fraud, but I can't justify spending over 30k on an online degree that might not be worth much for my career.

My undergraduate education was fairly rigorous, and unless I attended a competitive on-campus MBA program, i'm not sure how much I would gain from an MBA. I don't think I could spend two years studying topics that I already have a fundamental understanding of from undergrad.

I really enjoyed the academic environment and would like to eventually pursue a doctorate degree. Maybe a masters in Public Policy or entrepreneurship would be interesting.

-Passed all four sections of CPA exam in 2010 using Becker.
-Former Seasonal Audit Senior with Big Four accounting firm.
-Plan to sit for Certified Fraud Examiner (CFE) and Certified Anti-Money Laundering Specialist (CAMS)

[Stilgoin]

Just to clarify- I graduated Magna cum laude in accounting, and my MBA was nothing like my undergrad classes. I do agree you need to find a good program.

B | 62, 78
A | 73, 67, 79
R | 82
F | 59, 59, Waiting

Ethics | 93

"Success is not final, failure is not fatal: it is the courage to continue that counts."
~Winston Churchill

“In a world full of critics, be an encourager."

[Anonymous]

If you ever decide to go into Government they place much more emphasis on a Masters degree than the CPA license. For Federal Government work you want both but the Masters will help you early in your career while the CPA will help for later advancement.

Basically if you have your Masters you can come in as a GS 9 (about 51K a year) with an almost guaranteed promotion to a GS 11 after 1 year (62K a year). Without a Masters it's very hard to get above a GS 7 (41K a year).

Now the CPA license helps you get beyond a GS 11 to a GS 12 (starts around 74K a year and caps out around 96K with enough years of service). Going above a GS 12 requires a big commitment and is usually high level management and lower level director positions.

Final caveat: This is true for my Agency. I can't speak for others. But there are a very large number of CPAs in my Agency. I can think of about 10 to 12 at my site just off the top of my head and that's just the ones I know of.

[Anonymous]

Sad to see so many people who are suppose to be financially saavy fall victim to the higher education scam…a MS or an MBA mean really very little in the real world..especially if you have your CPA..

By all means bury yourself deeper into debt in order to get another worthless piece of paper..FWIW my friend doing a MBA is asking me for help with financial accounting and managerial..

Was watching shark tank earlier and Mark Cuban whose very vocal about what a waste they are made the comment to someone how his city college degree from nyc to him was worth more then most of the “prestigious =: Ivy Leaguers..

Take the several hundred thousand youre about to piss away on a worthless piece of paper for a couple letters and put it to start up your own firm or business later in life..come one I expect liberal arts kids to fall for the ivory tower scam but accountants and soon to be CPAS should know better.

[Stilgoin]

@amohr23cubs – my entire education was free on scholarships, including my MBA. The prior reply just told you a graduate degree was worth 20k more in government, so I would argue that a person with so little perception might not make it in graduate school. Also, how would you know the value of a graduate degree if you do not have one? I've heard people say they are not worth it, but it happens to ALWAYS be the people who don't have one. There are many employers who pay for graduate school. It is sad to be so negative. Improving oneself through learning is a great accomplishment, no matter how the goal is achieved. Have a good day.

B | 62, 78
A | 73, 67, 79
R | 82
F | 59, 59, Waiting

Ethics | 93

"Success is not final, failure is not fatal: it is the courage to continue that counts."
~Winston Churchill

“In a world full of critics, be an encourager."

[MaLoTu]

Some employers pay for MBAs or MSTs … that is definitely an argument for the degree having, at least, some value. Additionally, many CPA candidates need the additional units provided by the MBA or MSAC, which also argues on behalf of some value.

[Anonymous]

Personally, I decided to get a BSBA and after being introduced to accounting while going through that program, I decided to pursue and obtain my Masters in Accounting. It's been 3 1/2 years and I believe it was definitely worth it. To add, now that I'm on a journey to become a CPA, I do not feel like I've missed anything by not getting a MBA. Honestly, I believe previous posters said it best, it depends on your desired end goal. During the time I was going to school, working in government was my first choice. However, I've since realized that the possibilities are endless when you set yourself up properly. Going one step further, graduating with my masters degree was a personal accomplishment and money had no bearing on that decision. Ultimately, you have to do what is best for you.

I'm tired of operating in fear and mediocrity. It's time to try. It's time to do. It's time to go.

[Author]

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