[TexasGrad]

Hi I’m 22 years old and am about to graduate college with an undergrad in accounting. I am putting alot of pressure on myself to get my CPA license as early as I can since I already know people younger than me who are in the process of taking it. Unfortunately I only have 124 hours and in Minnesota (where I want to move) I only need 120 hours to sit for the exam but 150 hours to actually receive my certification. I am very torn between how I should approach taking the exam and getting the extra hours I need. I have changed my mind many times and am at the point past the phase of exhaustion and panic. Could anyone offer any advice if you have had a similar scenario and what was your approach to enter graduate school either before sitting for the exam or after. You all have so many inspiring stories I hope to have any bit of help from any of you!

[TexasGrad]

what discourages me the most is I have been reading other threads and people have been commenting on the cost of their education. I already have $20K in undergrad student loans and from what I thought that seemed like an okay amount to have. What I failed to think about was the cost of attending grad school and then paying for the CPA exam. Since most of you guys are already CPA's is having $40K in student loans worth it? Sometimes I think I should just take some time off to make some money to pay some of grad school out of pocket but then I'd be worried that I wouldn't go back for a long time.

[TexasGrad]

I really don't mean to be nosy but did anyone else have student loan debt…it'd be nice to kind of compare the debt incurred (if any) by CPAs.

[Minimorty]

As a general rule you are ok incurring student debt up to the amount of the annual salary you'll be receiving in your first year of employment. That being said, do you really want to incur that type of debt to pay off?

Have you convinced yourself that a MAcc will further your career? How will you feel if you get your MAcc and your job prospects are no better than they were prior to getting your MAcc?

I was fortunate in that I got a full scholarship, my level of debt (none) wont give you a good comparison.

[Witchkizzle]

I think everyone's debt situation is different. I graduated with no debt, but that came from a combination of generous parents who paid half my tuition and a generous job opportunity here in Houston that provided full tuition reimbursement for the last half of my university experience.

I know that's not the norm. I went to a relatively cheap school though.

As someone who goes to the Universities in the area (University of Houston, Stephen F Austin, Sam Houston State, etc) as a recruiter for my firm, I can tell you that we do not care if you have a Masters degree. Our question is “when will you have enough hours to sit for the exams”. We don't care how you get it.

What I look for in a prospect:

1a) GPA – close to 4.0 if you arent working and around 3.4 and up if you were working.

1b) when will you be able to sit for the exam?

3) Well groomed (one person came to a suit and tie event in workout shorts and tank top with no resume, it was incredible).

4) confident.

5) easy to talk to.

6) would I want to work with this person until all hours of the night during busy season?

Masters degree doesnt even come up.

Texas CPA
Licensed 03/12

[TexasGrad]

I do not want to pursue my masters to further my career I am doing what I can to avoid that. The only reason I am considering a masters degree is because I do not have enough credit hours to sit for the CPA exam in Texas and if I do sit in Minnesota I will eventually need to get 150 hours before I become certified. I know that recruiters could careless if I have my masters but I followed my degree plan and graduated with 120 credit hours.

[Minimorty]

@Texas – If you dont necessary want to get a MAcc and everyone is telling you that you dont need a MAcc, that should give you a pretty good indication of whether or not you should get a MAcc. You need the units. Get them as cheaply as you can. I took more than half of my accounting units online. I was an Econ grad and too ZERO accounting classes in college. I needed 24 units to sit in California, so I took them through community colleges. As I mentioned, more than half of them were online and took minimal effort and were dirt cheap.

[Witchkizzle]

I second Mini, again. A co-worker of mine graduated with her Bachelors and 120 hours and just went and took whatever classes she needed to get her 150 hours for certification. She is currently in process of studying/sitting for the exams and still lacks hours for her Masters but not to be certified.

Texas CPA
Licensed 03/12

[TexasGrad]

Texas:

150 hours to sit for exam

Baccalaureate with 150 semester hours

Additional Educational Requirements

•minimum of 30 upper division semester hours in accounting above the principles level and

•24 upper division hours of related business courses plus 3 hours ethics course

Minnesota:

•24 semester hours of accounting and 24 hours in business related courses

•Baccalaureate (accounting concentration)

•May sit for exam with lessor or no degree if qualifying experience requirements are satisfied

•1 year experience plus 150 hours is required to be granted certificate

•Need 150 hours to be granted certificate but do not need 150 to sit for exam

•Candidates may apply for the exam 180 days prior to completing educational requirements.

•Candidates will receive “provisional” approval to take the CPA exam 90 days prior to completing educational requirements.

•Educational requirements must be completed no later than 120 days after the actual date the candidate took the first exam section.

I'm meeting with an AICPA board member on Wednesday so we can go over the requirements needed to take the exam in either state just incase so I do not choose the wrong option.

Thanks guys for all of your help! 🙂

[Elaine]

I hope everything works out well for you, TexasGrad!!! 🙂

[TexasGrad]

Thanks @Elaine me too! Good luck on your exemption classes keep me updated! 🙂

[Author]

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