[Kls238]

I was really struggling to find a job and I needed classes to get 150 credits, so I enrolled in a local college’s MBA program. People advised me against getting another degree because I couldn’t find a job, but I was planning on getting a masters eventually anyway and I almost instantly got a job after putting the “almost CPA/MBA student” combo on my resume. Now, I’m torn about my schooling situation. The school I go to is not a top 15 or even 30 school nor is it AACSB accredited (although it is ACBSP so it does have some accreditation). I chose it because it offered me flexibility, which I need right now, and it offered a concentration that other schools didn’t. I am wondering if sometime down the line I’m going to regret going to this school over a more prestigious school, though.

Career-wise, I do not want to be in accounting in the long haul. I actually prefer corporate finance. But as I sit here today, I’m not sure what to do. Since I’m not striving to be an investment banker or CEO of a fortune 500 company, will not going to a better school even matter and should I just continue with this school? Or should I try to go to a different school just incase it may matter somewhere down the line? I still need 9 credits to be certified by the way.

Passed all sections.

[Anonymous]

I think it depends. I won't go if not T25 because I want to transition into banking. Depends on career goals.

[jbisdamon]

Really the cost/commitment of a T15 or so school is astronomical. If you don't want to be in public accounting forever, I would try and find at least one that is AACSB accredited. However sometimes just having an MBA can help you qualify for better jobs in corporate as well.

BEC - 76 7/22/14
AUD - 84 8/30/14
REG - 75 10/16/14
FAR - 87 11/24/14

[Kls238]

I'm actually in a corporate tax position right now. I've never been in public accounting. Ideally, I want to move to finance position and try to move up within the company.

Passed all sections.

[mla1169]

Your goal is within your current company? Then it's an easy question to answer. Find out where the people who hold the positions you aspire to went to school. If T10, you've got your answer, if local college there ya go!

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Anonymous]

You're better off going to a better school.

I'd consider AACSB accredation to be the bare minimum.

[fuzyfro89]

Before I get to school rank, I'll comment about the degree without experience. Having an MBA is used to substantiate your academic credentials, but most jobs which require/ask for MBA grads also want people with experience. The 80/90/100k+ jobs that MBA grads receive are largely obtained by experienced candidates. Getting a MBA before you have some decent work experience will devalue it… and also places you in a pickle.

You will be too INexperienced for (some) entry level jobs, but too educated for others as well. This isn't to say you shouldn't get a MBA, but consider the positive and negative aspects while you decide.

As far as rank, I'll just add that if you really want to be seen as a MBA grad, and command the respect/salary/career prospects that you might associate with it, then yes you probably want to go to at least a top 50 program. Of course, this depends on your career goals as well.

For what it's worth, I did know several colleagues at my former Big 4 that got MBAs instead of Masters in Accounting, but they ended up in the same place… AND they could not go back to get an MBA to switch careers (if later desired) nor were they really competing with MBA grads for the same type of jobs.

If you'd like to keep the option of going back, I'd suggest getting a Masters in Accounting for now, or just take enough extra credits to hit 150 to be license eligible.

[Anonymous]

I think it depends on the area. The school I got my MBA from is not AACSB accredited (I believe that they may acutally be in the process of obtaining this now…), but they have a lot of “prestige” in my local area. (even more than the larger, accredited programs believe it or not) I was able to find a job almost instantly because of the vast network of alumni in my area.

[Anonymous]

I would be concerned about the school not being AACSB more than it not being a top 15 or 30 school. The accreditation is more important than the ranking, in my opinion.

[EverybodyswaitingfortheCPA]

All great points. To recap it seems people need to consider a plethora of items such as geographical area, career goals/ company valuation, accreditation.

I don’t think anyone has mentioned cost/ benefit.

What’s the point to going to a top 10 or 15 accounting school and coming out with an MBA and let’s say, $50k in student loan debt (unless you have mommy & daddy footing your bills)? I understand some school are more prevalent than others, but if anything, I’d think an MBA from an accredited school that is not as well-known shows the ability to learn and that one has achieved the MBA already. Is someone really going to hire because of the school? Maybe, but I’d be more concerned about gaining experience instead of just trying to be a book worm. Also, if a person is making 10k more per year, that’s not 10k after taxes, deductions, so it’s not as easy as just throwing that toward the debt. Of course long-term it can’t hurt, but there are too many items to consider to make it simply a “yes” or “no” answer.

BEC - ✔ REG - ✔ AUD - ✔ FAR - ✔

Becker + NINJA MQCs for FAR

Licensed January 2015

[Anonymous]

Debt is a serious consideration and shouldn't be taken lightly.

I personally would have no problem taking on a ton of debt to go to a top- TOP MBA program (Harvard, Wharton, MIT, etc.). After that, I'd probably go to a state school. I just don't see the ROI really panning out for anything in the middle.

[Anonymous]

I'm a T25 MBA graduate and IMO it matters a great deal what instituion you attend. With that being said, do not overlook ROI, geographical area and job placement post-grad when making a decision which grad school to attend. In terms of the ROI, look at the post-grad average salaries earned and that will give you very accurate idea of your earning potential post MBA.

Here's my $.02 based on your initial post -> get CPA out of the way and put in ~3yrs in public, aim for 700+ on GMAT, attend T25 MBA (T25 at minimun; higher the better keeping in mind my comments above re: ROI, geographical area..etc.) and pursue corporate finance gigs. You'll have all the boxes checked provided that you can market yourself reasonably well.

[Anonymous]

I work in consulting, and have interviewed a number of MBA candidates, as well as directly worked with people who went on to get their MBA. I have to say, my attitude might be a little pretentious, but there's a LOT of misinformation in this thread. I have a tendency to state my opinions as though they're facts, but if nothing else I hope this helps give perspective from someone who can say he's worked with a lot of people that are/were smarter than him.

1. The name matters. A ton. I think an argument could be made that name and prestige will actually matter more in the future for MBA graduates. Think about the number of MOOCs coming out. Think about the amount of content that can be learned online – for free (or minimal cost). The point is that these days anyone can say they know something, and probably actually know it. Then consider how many MBA programs are out there today, especially online – Devry, Phoenix, etc.. Add it all together, and you can see how top MBA programs function as a screening tool for ultra-competitive business fields. If someone is good enough to get into Wharton, they're probably deemed good enough for an interview within PE/HF/IB/Corp-dev/etc.. If there's all this noise within the MBA arena, I'm willing to bet that school rank will be the way employers cut through it. You can also substitute “investors” for employers in the prior sentence if we're talking about entrepreneurial graduates.

2. Accreditation doesn't matter, because if you have to ask whether a program is accredited, you probably shouldn't select it. Again, my opinion here – but I think there's a lot of truth to that.

3. Cost – The cost of a top 10 MBA is not significantly higher than many programs in the 20-100 rankings. I say this because if you're going to take on $50k/debt for a program ranked in the 50's, you're better served dropping $75-100k on a program ranked in the top 10.

4. Network – Outside of prestige, this is easily one of the largest reasons to go big with your MBA. You get to work on projects with people who will also go on to work for big names – or start their own companies – and you get in to alumni networks.

At the end of the day, I'm sure we've all met dumb people with Ivy League MBA's – I know several that are remarkably uninspiring. Is the knowledge gained from an MBA at the University of Illinois that much different that Booth? Probably not. However, the fact that Booth is a top 10 (usually top 5), and U of I is in the mid/high 30's makes a world of difference perception wise. If you're going to do an MBA, I'm of the opinion that you should go top 10 or bust, if you're paying for it. If you've got an employer paying for it, and there's historical precedence of where an MBA can take you within your organization, then a top 50 is probably okay. Anything less in either scenario would be a waste of money (if it's my money), or time (even if someone else is paying for it).

[Author]

Replies