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I already have a Finance degree and I only need my upper advanced Accounting classes to double major. I've been out of school for 6 years. Do you guys think I should go ahead and get the second degree or am I wasting my time and money?
I am trying to make myself more marketable in this economy.
The only thing that matters in the accounting world is your CPA. Check your state's regulations on what you need to have under your belt before you can sit for it.
If you already have a Bachelors in Finance, I would recommend getting a Masters in Accounting instead of a double major.
This will also give you the education and enough credits to sit for the CPA exam.
I agree with this.
I got my Masters in Accounting. A master's in accounting is only one year's worth of school (about 10 courses).
It is true that having a CPA license is the holy grail, but it's not necessary to be successful and get into higher paying roles at all, unless you want a career in public accounting. I am not a CPA and my income has gone from $52K when I was 22 years old to $94K now at the age of 30, and I'm just a staff! I have continually seen MANY managers, seniors, etc. who are not CPA's who are happy and successful, earning well over six figures. However, becoming a CPA does give you the upper hand when it comes to searching for a job or earning a little more money. But not that much.
I may go for my CPA at some point down the road, but just don't have an incentive to do so. I mean, about 80% of accounting/tax jobs don't even require a CPA. I've never had a problem getting interviews or salary increases. It's for the simple fact that accounting jobs are in high demand, so employers can't get THAT picky.
The CPA exam is a BEAST (harder than the BAR exam) and requires at least $5,000 and 400 hours of studying for at least a year or more. To me, that's a turn off. But I will do it someday when I'm more settled. I ain't doing it while living in very noisy apartments next to a busy road and hearing people through the ceilings and walls. I'm not risking my $5,000 and 400 hours of study time in those living conditions!
I got my Masters in Accounting. A master's in accounting is only one year's worth of school (about 10 courses).
It is true that having a CPA license is the holy grail, but it's not necessary to be successful and get into higher paying roles at all, unless you want a career in public accounting. I am not a CPA and my income has gone from $52K when I was 22 years old to $94K now at the age of 30, and I'm just a staff! I have continually seen MANY managers, seniors, etc. who are not CPA's who are happy and successful, earning well over six figures. However, becoming a CPA does give you the upper hand when it comes to searching for a job or earning a little more money. But not that much.
I may go for my CPA at some point down the road, but just don't have an incentive to do so. I mean, about 80% of accounting/tax jobs don't even require a CPA. I've never had a problem getting interviews or salary increases. It's for the simple fact that accounting jobs are in high demand, so employers can't get THAT picky.
The CPA exam is a BEAST (harder than the BAR exam) and requires at least $5,000 and 400 hours of studying for at least a year or more. To me, that's a turn off. But I will do it someday when I'm more settled. I ain't doing it while living in very noisy apartments next to a busy road and hearing people through the ceilings and walls. I'm not risking my $5,000 and 400 hours of study time in those living conditions!
In addition, I know many people with ONLY a bachelor's degree in accounting who are very successful and making six figures.
Heck, if you look at most job postings (other than public accounting), about 80% of them don't even require a masters degree, let alone a CPA certification.
I'm not trying to discourage anyone from getting the master's degree or CPA certification, but just telling it like it is. Typically, companies have a predefined salary range for a job, say $70,000 - $80,000. If you have your master's and CPA, you simply cannot get anymore than $80,000, except on rare occasion. But a person with just a bachelor's degree and some quality experience on their resume can STILL bargain for the $80,000 end of the salary range. Trust me. Experience quality means more than educational attainment or certification.
Personally I would get the 2nd bachelors..I'm doing it. However, Nep 321 does make some good points. I just didn't want the masters in accounting.....BUT I'd check your states requirements for the CPA.
I know many people with a bachelor's degree in accounting who are very successful. On the contrary, I l know people who couldn't really out yet what they want. I know someone who had accounting as a major but additionally pursued courses in finance from online courses & got certified as well. He landed a good job & is earning pretty well. The certificate was from Bluebook Academy.
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