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The OP has an undergrad degree in finance and an MBA, even if the undergrad is from Phoenix and the MBA is from fourth rate mail order mill there is no way they are getting squeezed out for jobs by folks in the country illegally...
I suspect that the OP was one of the many people that assumed a degree was "enough". It ain't. Even if some one is fortunate enough to earn a degree from a true top tier university with great grades in demanding coursework if they don't have any aptitude for the day-in-day-out tasks that a career in finance requires they will fail. That, along with the range of skills that come from a good internship, are key reasons that successful new graduates more often than not say internships are the best first step to success.
Layering a less than excellent MBA on top of a mediocre undergrad degree is similar to making a "sundae" with bargain "ice cream", generic "chocolate flavored syrup" and some imitation "whipped topping" instead of premium ingredients -- they both might look the same from a distance but one is going to leave a bad aftertaste instead being a memorable and worthwhile expense...
The problem, quite simply, is too many people and not enough jobs. When you have too many people competing for too few jobs, it, in effect, brings down the wages for everyone. As a result, as there are ENOUGH people with certain qualification already to tip the scales, more people are forced to take on the debt referenced in another post to try and remain competitive for a shrinking pool a jobs, and since not everyone will fit into the pool, these folks are stuck with debt they'll never be able to pay off.
Last edited by 313Weather; 08-07-2012 at 09:26 PM..
(you can choose between becoming a tax accountant or an investment banker, for example, without a problem).
That is assuming that the OP earned his finance degree from an Ivy League university. Investment banks recruit almost exclusively at Harvard, Yale, Princeton, Stanford, etc.
You may as well forget i-banking if you went to a state school or some podunk college, regardless of what your GPA was.
That is assuming that the OP earned his finance degree from an Ivy League university. Investment banks recruit almost exclusively at Harvard, Yale, Princeton, Stanford, etc.
You may as well forget i-banking if you went to a state school or some podunk college, regardless of what your GPA was.
This is absolute fact. If I had to do it all over again, I wouldnt have bothered to pursue finance at the school I went to, because its absolutely worthless, and I ended up mostly in the accounting field anyway, but getting the degree in finance kneecapped me in pursuing things like a CPA.
From my own limited view, it seems like that is the lot for many people graduating in finance from lower tiered schools. If you arent studying Finance at a top 50, you might as well just go in to accounting and save the time.
As for the OP's original question - no, don't go back for a BS in Accounting. The market for accountants is saturated and jobs are hard to come by and don't pay like they used to. You already have two money-business related degrees. If you can't find a job with those then another similar degree won't help.
Since you have a degree in a related field, I would just go for the Masters in Accounting. That works pretty well and would be more of a vertical than lateral move. It sounds like a good idea though.
I have many years in both school and work and school is a much better measuring stick of intelligence and hard work than the working world, not to mention initiative.
Yes, hard work is valued in the workplace, but it's more of a kind of work hard when somebody is watching and talk to the right people kind of thing. Initiative at work means being willing to raise your voice when others are listening and to take on tasks that may be easy and stupid just to show the boss that you're willing to do anything he says.
School on the other hand (particularly in Engineering and the Sciences) is truly about how hard you work and understand the material. No amount of brown-nosing is going to get you an A in Thermodynamics. Since school involves studying on your own time, it is pure initiative. Work ... you have to be there.
All in all, school I believe is a much purer merit based system than work (and I come from 'consulting') and people who have PERFORMED WELL in school should be rewarded better than they currently are.
School is not a hardstick for intelligence. There are many intelligent and successful people who didn't do well in school. Also, most of the time taking tests is about regurgitating back the info that was spoon fed to you. Bad teachers, easy teachers, grading curves, memorizing vs. learning are all reasons why school shouldn't be used a measuring stick for anything other than how you performed in that particular school at that particular time. Period.
If you go back for a 2nd Bachelor's in accounting you won't have to take gen ed courses again. Since you have a Finance degree it will probably only take you a year or 2 semesters to complete the degree. You will have to take the required Accounting classes that you didn't get when you got your Finance degree.
However, considering your credentials, an Accounting degree isn't necessary. Finance and accounting are very closely related, so, you will probably be able to qualify for accounting jobs with the MBA and Finance degree.
I ran into the same problem as I have the same two degrees you have. The job postings always want a CPA and our education group seems to be left out. I considers going back to school for accounting as well but decided against it because I don't think education is always the answer like so many people think it is. I don't know if it is the right decision but the economy is crap right now and I just put all my financial analyst career goals on the backburner and took a job in lower level finance. Maybe I'll move up maybe I won't. I'm just glad to have a job. My dreams were gone when I started seeing how the real working world works nowadays. Blah
No sense in getting a bachelors in accounting with a bachelors in finance. I would recommend a Graduate Certificate in Accounting if you want to get some classes under your belt and show employers you are interested in working in the accounting field. My bachelors is in general business. I did 3 undergrad accounting classes after that to see if I liked the materials so now I'm doing the certificate. Later on, I can always apply those same courses to the Masters program. This is one route you can do.
I also agree with a previous poster about the CFA exam. Best of luck to you!
I have a bachelors in finance and an MBA but have been having a really hard time finding any kind of employment. I have been part of two companies that have had to lay off a large amount of their workforces so I guess just bad luck also plays a part. I have noticed that a lot of jobs that are open require a bachelors in accounting and sometimes a CPA. I am wondering if going back to get my bachelors in accounting would be beneficial. I am already CPA eligible having completed the necessary accounting courses for the exam while in undergrad but really have no interest in actually becoming a CPA. Not sure if going back to school would be worth it or if I should consider going back to school in another field.
I did a Masters in Accounting with a Bachelors in Finance. Honestly it wasn't that bad and it's only one year. Just go for the 1 yr masters to get your required accounting course work.
that is like going back to the crap table for one more roll after they cleaned u out and u maxed out the credit cards.
a trade, dont leave home w/o it.
everybody thinks they need an advanced degree, most just need a trade. y generation needs to get out of the credential biz and get into the work biz.
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