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If you want to spend your days working in the taxation field, get a MS in Taxation or attend law school.
If you want to work in accounting, A CPA can help. You are NOT too old for the accounting firms (who generally cut off at 30) but you need to find out which accounting professors at VCU have contacts with what accounting firms as their are relationships that need to be developed.
If all you are doing is "to get a foot in the door", you are wasting your time getting the CPA.
Do realize that the average person goes through 3-4 careers or professions in a lifetime.
Well when I said "foot-in-door", I think I meant to put that I did not want to be in Accounting forever. I do plan on being in Accounting at least 5 years before seeking other opportunities. At the same time, I may end up loving Accounting as the years go on. Only time will tell....
Lol that sounds a lot like me I never was or planned on being Mr. Harvard, I just want to make a reasonable income in the future..Doing alright to me would to be a VP of a Department in a company and not VP of the company itself. By the way that you describe things, It sounds like your more of a fan of the MBA rather than both of the MS programs.
If you want to be an Accountant, fine, but the exit ops are extremely few and far between, and there is a very high chance that you will be stuck in accounting forever. If you want to be VP of a Department that department will be accounting.
I work in finance and it is extremely rare for accountants to make the jump into the 'business world'. I'd say maybe less than 1% make it, if they don't have a top-10 MBA. Highest rung on the ladder for accountants are CFO / Controller positions, and even many CFO positions are being taken by the likes of Wharton MBA's who work a couple of years in Investment Banking --> PE / VC or McKinsey / Bain / BCG, not accountants.
I am a fan of the MS programs, but only the ones that are heavy quant programs (CS, EE, Comp. Finance, etc)
Additionally, it seems to me that when you say you want to get your "foot in the door for the "business world" ", you have no idea as to what kind of business you really want to do
If you want to be an Accountant, fine, but the exit ops are extremely few and far between, and there is a very high chance that you will be stuck in accounting forever. If you want to be VP of a Department that department will be accounting.
I work in finance and it is extremely rare for accountants to make the jump into the 'business world'. I'd say maybe less than 1% make it, if they don't have a top-10 MBA. Highest rung on the ladder for accountants are CFO / Controller positions, and even many CFO positions are being taken by the likes of Wharton MBA's who work a couple of years in Investment Banking --> PE / VC or McKinsey / Bain / BCG, not accountants.
I am a fan of the MS programs, but only the ones that are heavy quant programs (CS, EE, Comp. Finance, etc)
Additionally, it seems to me that when you say you want to get your "foot in the door for the "business world" ", you have no idea as to what kind of business you really want to do
Its funny somebody once told me an Accountant can do any finance job but a finance guy can't do any accounting jobs. I've also heard some CEOs come from Accounting backgrounds (with a MBA of course).
Yeah true the business world is very broad and I can't really let you know where I would want to end up. Location seems to be the biggest issue as of now. I live in Richmond, VA where there are more opportunities for accountants than bankers. An hour and a half up the highway is Washington D.C. and we all know the government love accountants. I'm thinkinkg about moving up there after graduation. Atlanta, Charlotte and Houston are also on the list.
I don't know what exact business I would like to do, but Accounting gives me more direction compared to my bachelors degree. I'm just looking for opportunity like everybody else, and I go to school to have something to fall back on. I'm only 24 which is a good thing.
I think public accounting can actually be great for smart individuals who aren't 100% sure what area of business they want to start in. Associates at firms often work on a variety of clients, which allows them to see the positives and negatives of many different industries and jobs.
If you want to be an Accountant, fine, but the exit ops are extremely few and far between, and there is a very high chance that you will be stuck in accounting forever. If you want to be VP of a Department that department will be accounting.
That's not true. My start class at PwC had 30 auditors. By year three, only 12 were still doing traditional auditing or accounting. I know at least three of them went into investment banking. Two at a boutique and one at Goldman. A few of us went to law school and became lawyers. Most went into consulting doing a variety of stuff. A couple became entrepenuers. A couple went to start ups in the dot com era. A couple became real estate developers. One went into his family business and is now a politician. One guy became a quant at Ibbotson. One guy went into private banking at a large bank.
When the economy is good, the best accountants had a ton of job opportunities. Part of the job is that you meet a ton of people in all walks of life, so things pop up.
That's not true. My start class at PwC had 30 auditors. By year three, only 12 were still doing traditional auditing or accounting. I know at least three of them went into investment banking. Two at a boutique and one at Goldman. A few of us went to law school and became lawyers. Most went into consulting doing a variety of stuff. A couple became entrepenuers. A couple went to start ups in the dot com era. A couple became real estate developers. One went into his family business and is now a politician. One guy became a quant at Ibbotson. One guy went into private banking at a large bank.
When the economy is good, the best accountants had a ton of job opportunities. Part of the job is that you meet a ton of people in all walks of life, so things pop up.
Its funny somebody once told me an Accountant can do any finance job but a finance guy can't do any accounting jobs. I've also heard some CEOs come from Accounting backgrounds (with a MBA of course).
This is not entirely accurate. There are some jobs that finance people do better than accountants and vice-versa. Eventually it's all about how much of the work each has done. I have seen accountants (by degree) prepare financial models and have seen accountants who can't. I've seen finance people be really good at P&L's but suck at balance sheets. After a while, both will tend to specialize, and within industries are specializations as well. Insurance accounting for example is a whole different animal; so is pension accounting, etc.
When the economy is good, the best accountants had a ton of job opportunities. Part of the job is that you meet a ton of people in all walks of life, so things pop up.
And the good part is that there are still a ton of jobs when the economy is bad.
I'm in mid 40's and do have BA in accounting. I worked only 3 years in accounting field and consider going back into the field. Do you thing age might be an obstacle to find a job? Shell I pursue MS in accounting or take CPA exam instead ? In addition, I might consider MBA degree at least.
It would be appreciated any advice?
Thanks
Al
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I never was or planned on being Mr. Harvard, I just want to make a reasonable income in the future..Doing alright to me would to be a VP of a Department in a company and not VP of the company itself. By the way that you describe things, It sounds like your more of a fan of the MBA rather than both of the MS programs.
