Question by nicesinging1: CPA vs. MBA?
Hi, I am a recent college graduate and am in the process of deciding which track would be the best for me to take. I would like to work in the accounting field, either for government agency or for Big 4 accounting firms in the future.
I am inclined to work toward obtaining CPA but many people around me think MBA in accounting is also beneficial, if not more.
Which track should I choose to work toward? Does it take a lot of money and time to work toward both? I am 25 yr old already.
Thanks in advance for any insights.
Best answer:
Answer by Herschel K
Get the CPA, it gives you the most credibility in the accounting field. You can always go back to get the MBA.
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If you want to do accounting, a CPA is a necessary credential.
If you want to work in business but not as an accountant, an MBA is a good credential.
If you are already a college graduate, go back to your college career placement office and have them help you sort out your career goals and interests.
My husband is studying for the 3rd part of the CPA exam. He takes the test on Tuesday. It is so involved. He has been working on it for years. Has to pass all 4 parts of the computerized test, have some crazy amount of credit hours that is more than just a BA degree, and work under a CPA for 2 years. When it is all done we will be set. I will be able to have a baby and be a stay at home mom and we can live off his $. With plenty to spare. But it has been a long road to get there. I suggest it over a MBA for accounting work. Just make sure you know what you are getting into and you are up for it. And for the record he is 27 and I am 25.
lol my bro is 22 and he is a CPA. he is already making big bucks
Speaking as a MBA’er with a BS in accounting – GET YOUR CPA as soon as possible. Passing that test will increase your salary potential by at least 10,000 USD/year. The longer you wait to sit for the exam, the harder it will be for you to get in the study mode and then you’ll end up not getting it. As for the MBA, I found that working while going to school in the evenings/weekends was much easier because you can relate what you are learning to your actual work. Plus – most employers will pay for the MBA via tuition reimbursement – not so for the CPA exam. (usually a company will pay for a study class once and the exam fees once – if you don’t pass it the first time, they don’t pay for it anymore) An MBA in accounting is useless unless you plan to go on and teach it. IF you go for the MBA eventually, choose another complimentary area. Do you have your undergrad in accounting? That is all you will need for working in the accounting area. GOOD LUCK IN WHATEVER YOU DECIDE!
Both are good to have, but DEFINITELY, CPA first. Having that certification allows you to branch out into many more paths than just an MBA.
I recently passed the exam and I submitted my application for licensure last month. I’ve worked in public accounting for about 3 years and the rewards are paying off.
If you are thinking CPA, invest in a good review course, study your butt off till your brain hurts(that’s how it felt like for me, but it’s only short-term pain, think about long run rewards – BIG $$$$), get your audit hours experience (know what pathway you want) and success is at your doorstep. To become certified it takes about 3-4 years, but TRULY worth it!!!!!!!!!!
Good-luck in deciding!!!!!!!
CPA wins by a mile. If you want to get both, do so. but trying to get both at the same time, and work, just might be a little too much.
Good luck.
PS:90% of CEO’s come from accounting.
cpa is better for u
Now that most states require 150 credit hours, if you are interested in doing both you should take MBA classes to get you to your 150 credit hours. But since a MBA can be expensive, if you have to choose, I would choose a CPA since once you have this you can go anywhere.
25 is not old. I’m 26. I have a degree in Accounting too. If you’re asking about being a CPA, I assume it’s because you already have all of the undergrad credit. In order to be a CPA it’s required that you have at least 2 years of accounting experience. I think that during these 2 years you can get an accounting job and work on your MBA. With the accounting job you can save money for CPA review courses after you graduate.Then take the exam. Grad school costs money, but there are soooooo many scholarship opportunities out there, plus loans. And of course you can talk to your campus’ financial aid advisor about financing opportunities. Good luck to you!
As a recent college graduate, u could apply for a job in Big 4 now and work towards the CPA. All of the Big 4 sponsor the CPA program as long as ur with the firm for 2/3 yrs. Plus your work experience of 2 or 3 yrs will be essential in obtaining the qualification.
A CPA is more relevant if you want to be in accounting field – its more geared towards auditing/accounting.
I’m currently working for Big 4 and am pursuing my CPA certification at the sametime in Singapore. I just have to work for another year, and sit for the exams. I dont have to worry abt cost as its sponsored. The firm doesnt sponsor MBA programs as its not as relevant to the profession.
If you want to advance and do well in Accounting, I suggest you go for the CPA license. Without the CPA designation, you will quickly hit that “glass ceiling,” no matter how good of an Accountant you are.
It IS possible to go for a Master’s degree as well without too much additional trouble. Most states require a fifth year of education to sit for the CPA exam (the 150 hour requirement). That fifth year is just a few classes shy of a Masters degree anyway, so getting the Master’s degree is not a lot to add on to the quest for the CPA license IF you’re in a state with the 5th year requirement. But even if your state does not require the 5th year of education, a Masters with a concentration in Accounting will better prepare you for the exam anyway, so it’s not a waste of time or money.
I went back to school when I was 25 faced with the same dillemma you are. I researched the requirements of each and I opted to go for the Master’s degree b/c it required only 3 more classes on top of the classes I would need to fulfill the 150 hour requirement to sit for the exam. The Master’s program (at FSU) is very good and boasts a FIRST time pass rate on the CPA exam of greater than 80% for it’s graduates (much higher than the 10-15% national average!).
And I am proud to say that it paid off
It took 5 years b/c I could not give up my full time job thanks to the 2 kids (now 3, I had another while in school) and a stay at home husband, but I passed all 4 sections of the exam – on the first try – within 6 months of graduating. If I had not done it, I would easily be making $15,000 less than I do now. It was well worth it!
And for the record…the information on the CPA exam is not hard. There’s just a LOT of it…which makes it hard to study. When you get there, stay focused. With the ability to take each section separately, there is no excuse for taking more than 18 months to pass all sections other than laziness. Just stay focused!
I think you should pursue both. However – if only one choice at this time – CPA.
A CPA is a license and can be very useful throughout your life. It is highly respected and in some industries may count for more than an MBA.
If you get the CPA then go for the MBA afterwards as you gain work experience.