Any MBAs out there? Feedback needed...

[juligrl]

OK, fellow DISers, here's the scenario DH has serious concerns about the longevity of his job. While he loves it, he feels he should be taking the steps now to make sure that he is more marketable and always gainfully employed. Direct from his posting on another board, if you have any MBA experience out there, please give feedback.

Journalism undergrad, worked in the newspaper business for 8 years, concerned about the weak future of the biz, need to plan for change. Seeking to make a shift into the accounting field if need arises or even part-time concurrently with current career (and am doing some basic coursework now -- and love it.)

I have spoken with some academics on a recommended path for a career changer, but what do you all think? Here's the choices:

1. Local college, known for its accounting program, offers a certificate in accounting (27 credits), which, combined with undergrad degree, meets state requirement to sit for CPA exam. Also, school has good recruiting connections. Cost: $12,000. Time frame: 12 months.

2. Combine certificate in accounting with a 14-month, 36-credit MBA program from an area AACSB-accredited mid-size state university.
Cost: $23,000.
Time frame: 14 months.

3. Forget the certificate altogether and pursue an MBA part-time from the city's big public university, which consistently ranks in the world's top 50 (top 15 public).
Cost: $45-50,000.
Time frame: 3 years.

Other details: 660 GMAT, 3.96 undergrad GPA.

Here's the big question (and, understanding there are a ton of variables involved): Will the Big 4 look at someone without a degree in business or accounting, but has the accounting coursework (accounting certificate) and is CPA eligible or has passed the CPA exam on his own? Or, with little undergrad business coursework, is it imperative to have an MBA, too?

Go ahead, fire away.

 

[Bob Slydell]

Here's the big question (and, understanding there are a ton of variables involved): Will the Big 4 look at someone without a degree in business or accounting, but has the accounting coursework (accounting certificate) and is CPA eligible or has passed the CPA exam on his own? Or, with little undergrad business coursework, is it imperative to have an MBA, too?

For the most part, no, a Big 4 firm likely won't even look at a resume of a candidate without a business degree of any type -- even with an accounting certificate and CPA license. An MBA might help, but it's really difficult to break into the Big 4 firms through a non-traditional route. The vast majority of their new hires come through on-campus recruiting.

 

[DisneyWacker]

Aside from generally improving my business skills and knowledge, my MBA has NOT helped me get a job at all. In my opinion, for an MBA to really help land a job in a NEW career field, you'd need to attend a full-time program in a top-10 business school. Those are the schools that MBAs get recruited from. Otherwise, it may look nice on your resume, but won't really help you break into a new field.

 

[caitycaity]

Aside from generally improving my business skills and knowledge, my MBA has NOT helped me get a job at all. In my opinion, for an MBA to really help land a job in a NEW career field, you'd need to attend a full-time program in a top-10 business school. Those are the schools that MBAs get recruited from. Otherwise, it may look nice on your resume, but won't really help you break into a new field.

my dh has a MBA. while he probably would not have been able to get his current job without it (and without all the experience and other certifications he has), i don't think the degree alone will help launch a new career, especially into one of the big 4.

 

[Bob Slydell]

Aside from generally improving my business skills and knowledge, my MBA has NOT helped me get a job at all. In my opinion, for an MBA to really help land a job in a NEW career field, you'd need to attend a full-time program in a top-10 business school. Those are the schools that MBAs get recruited from. Otherwise, it may look nice on your resume, but won't really help you break into a new field.

An MBA in Accounting (from most schools) would possibly get you a job with one of the Big 4 firms, but it would be entry level, so I don't know if the OP's DH is willing to go back to the bottom and start working his way back up (not that staff level at the Big 4 pays bad). I know of one guy that did quit his job and go to MBA school to go into accounting. He got a job at a senior accountant level (one level up from staff), but only because he had prior experience with the firm (on the consulting side).

 

[puffkin]

The MBA might not help him as much at the Big 4, but he might be able to come into a regional accounting firm at a decent level. However, in the public accounting world, generally the CPA will get you further than the MBA.

However, in PA, if you have an MBA, you only need half the hour requirements to get licensed as a CPA, so it might be worth looking into.

 

[juligrl]

I don't know if the OP's DH is willing to go back to the bottom and start working his way back up (not that staff level at the Big 4 pays bad).

That's the thing, he kind of has the golden handcuffs. He's well compensated for what he does, but isn't sure how long it can last. To make the larger investment in the education would mean taking a significant pay cut by starting at the bottom.

I see his dilemna.

 

[arminnie]

In my opinion, for an MBA to really help land a job in a NEW career field, you'd need to attend a full-time program in a top-10 business school. Those are the schools that MBAs get recruited from.

An MBA from one of the top schools can be extremely lucrative. New grads can start at $100,000 plus easily and have a pick of industries, etc. But given that he already knows that he wants accounting, he may not need all of that. The accounting firms offered the lowest salaries for the new MBAs.

Stanford MBA here.

 

[Bob Slydell]

The accounting firms offered the lowest salaries for the new MBAs.

That's because MBA school doesn't teach accountants anything additional from what a bachelor's in accounting provides. Audit and tax firms need people with real world experience in accounting, not an MBA education.

 

[arminnie]

That's because MBA school doesn't teach accountants anything additional from what a bachelor's in accounting provides. Audit and tax firms need people with real world experience in accounting, not an MBA education.

Absolutely true. I think virtually all of my classmates who went into public accounting has previous major firm experience. One of my classmates did end up head of KPMG, and I'm sure his MBA helped him reach the top.

 

[Bob Slydell]

Absolutely true. I think virtually all of my classmates who went into public accounting has previous major firm experience. One of my classmates did end up head of KPMG, and I'm sure his MBA helped him reach the top.

You went to school with Gene O'Kelly?

 

[arminnie]

You went to school with Gene O'Kelly?

Yes, we were both class of '77. He was truly a great, great guy. Such a tragic loss. When I worked for Visa, and he was head of the financial side still based in S.F. I used to run into him in the cafeteria fairly often in addition to dinner parties at the home of mutual friends.

I was not able to go to the memorial services for him, but I can tell you this hit our class very, very hard. I guess the last time I saw him was at our 25 year reunion.

 

[FlyingBelle]

I was working as an accountant (low level management) at a large company with a BS in Education. I knew to go further I had to either go take some accounting classes and maybe attempt the CPA exam - or go for an MBA. I was recently divorced at the time - so I decided to get an MBA at an "ok" school. What I found out is that I HATED what my future would hold in accounting and finance - but I really excelled in marketing.

About 3 months before I finished my MBA I applied and was accepted to a higher level job in the marketing division. Once I finished I was promoted again.

An MBA in general business helped me gain a broader knowledge of business, which helped me identify some of my strengths.

Education is never a bad choice - given you budget accordingly (if your company doesn't provide tuition reimbursement).

No job is a guarantee anymore - especially at the big companies. The more experience and education you have can help you get the edge. Of course... we all know it's all who you know! And grad school can help you make the contacts...