Any accountants in the house?

[ladycollector]

I am trying to decide between continuing my education and getting my masters, or going straight for my CPA license.

I will graduate in August (with my bachelors in accounting) with over 150 hours so from what I understand, once I sit for and pass all 4 parts, I will be able to get licensed without my masters degree. Florida seems to have a requirement of one year of work experience under a CPA but I'd have to do that with either option.

There are pros and cons with either choice, but at this point I will only be graduating with about 2-5k worth of student loans, and if I go to grad school, I will have to finance it entirely through loans and go into major debt.

My question is, would I be making a huge mistake if I just try to get my CPA license after graduation rather than keep going to school? Is it going to hurt me in a big way when applying for jobs? I was thinking that since I'm young they would understand?

I am not against going to grad school but I would rather work on it slowly once I get a job and can afford it, rather than going into tens of thousands of dollars in debt..

I just need some guidance. Thank you!

 

[lovepurple]

I think I would go ahead and take the exam if you meet your states requirements and think you can pass. It seems to me that might be more beneficial to you in finding a job than waiting until you get your masters. Then work on your masters slowly as you can afford it and fit it into your schedule.

 

[puffkin]

I am a CPA and have worked in private and public.

Without a doubt, the CPA is the way to go. A masters means absolutely nothing, especially with no work experience to back it up. My CPA license has continually opened up doors for me over friends who have a masters. It is much easier to get a MBA later in your career if you need it then to get the CPA later.

 

[Cheshire Figment]

I am a retired CPA and I never got (or even tried for) a master's degree.

 

[Allison]

I agree-it's the CPA designation employers are interested in.

 

[barkley]

what are you planning/hoping to go into? does it require a masters?

i think as some have said it's the cpa designation that makes the difference with most accounting paths.

maybe some of the cpa's can explain-what kind of accounting career benefits from a masters in in this area? i only ask because my current cpa is also working part time at the university local to us, and unlike most of the instructors she does'nt have a masters degree. when i asked her how that worked out she explained that with the accounting classes (in the program that leads to the cpa path) the universities preferred using seasoned working professionals in the field that could integrate/speak to the practical application of the subject matter being taught.

 

[ladycollector]

Thank you thank you! This is a huge weight off my shoulders.

As far as what I want to do? I'd like to start out in public to learn the ropes and maybe transfer to private later on in life when I'm ready to "settle down."

 

[Kit'smommy]

I have a masters degree and am a CPA in Florida. I have worked for Andersen and PricewaterHouse Coopers and am now am in industry.

I would recommend getting the CPA and working on an MBA later, if you find that you need it.

I would not have had the required 150 hours to sit for the exam without completing my Masters program, so it made sense for me to just go ahead and do that coursework and have the additional degree.

The CPA designation is the important thing...

Good luck!