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2011 Master of Accounting / Taxation applicants UNITE!

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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 28 Sep 2010, 00:03
Programs: USC MAcc (+ Certificate in Financial Analysis), maybe UT MPA
Undergrad: UT-Austin, BA Biology, 3.72 cumulative
GMAT: 670 Kaplan practice (43Q, 42V); have yet to take the real one.
Work Experience: Weak, but working on improving it this year to prepare for recruiting next year.

I compressed my studies into 3 years, so my 2nd year was not hot, but I recovered in my final year. Should I write an addendum or would that seem unnecessary given my GPA as it stands?

I've read that the firms at UT go beyond just the Big 4, including big 3 consulting, and some of the top investment banks. As an undergrad, I know the really lucrative firms only recruited the Business Honors Program students; most of the people that did the 5-year MPA sequence are doing either accounting or some boutique investment banks. Do you think it's worth it to attend Texas MPA for a shot at these competitive opportunities? I also noted that Texas's program is meant to be completed in 1 to 1.5 years so there's a different opportunity cost between USC and UT. However, with that summer in-between, I could intern in something like finance or consulting before starting the following year.
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 28 Sep 2010, 18:26
sailtheworld wrote:
Programs: USC MAcc (+ Certificate in Financial Analysis), maybe UT MPA
Undergrad: UT-Austin, BA Biology, 3.72 cumulative
GMAT: 670 Kaplan practice (43Q, 42V); have yet to take the real one.
Work Experience: Weak, but working on improving it this year to prepare for recruiting next year.

I compressed my studies into 3 years, so my 2nd year was not hot, but I recovered in my final year. Should I write an addendum or would that seem unnecessary given my GPA as it stands?

I've read that the firms at UT go beyond just the Big 4, including big 3 consulting, and some of the top investment banks. As an undergrad, I know the really lucrative firms only recruited the Business Honors Program students; most of the people that did the 5-year MPA sequence are doing either accounting or some boutique investment banks. Do you think it's worth it to attend Texas MPA for a shot at these competitive opportunities? I also noted that Texas's program is meant to be completed in 1 to 1.5 years so there's a different opportunity cost between USC and UT. However, with that summer in-between, I could intern in something like finance or consulting before starting the following year.


Your GPA is great, I don't think it'll hold you back at all. You could definitely mention that you finished your undergrad degree in 3 years though, not so much as an "excuse" for your GPA, but just because that shows dedication and motivation.

I have also "heard" that UT MPA grads have a shot at some of the BB IB's and MBB's of the consulting world...but I really have to wonder how true this is. I'm sure they recruit for accountant/internal audit/back office positions, but analysts? I would honestly be surprised. If you're still at UT though, you could help us all out and ask around :)

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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 29 Sep 2010, 00:10
geauxtigers wrote:
sailtheworld wrote:
Programs: USC MAcc (+ Certificate in Financial Analysis), maybe UT MPA
Undergrad: UT-Austin, BA Biology, 3.72 cumulative
GMAT: 670 Kaplan practice (43Q, 42V); have yet to take the real one.
Work Experience: Weak, but working on improving it this year to prepare for recruiting next year.

I compressed my studies into 3 years, so my 2nd year was not hot, but I recovered in my final year. Should I write an addendum or would that seem unnecessary given my GPA as it stands?

I've read that the firms at UT go beyond just the Big 4, including big 3 consulting, and some of the top investment banks. As an undergrad, I know the really lucrative firms only recruited the Business Honors Program students; most of the people that did the 5-year MPA sequence are doing either accounting or some boutique investment banks. Do you think it's worth it to attend Texas MPA for a shot at these competitive opportunities? I also noted that Texas's program is meant to be completed in 1 to 1.5 years so there's a different opportunity cost between USC and UT. However, with that summer in-between, I could intern in something like finance or consulting before starting the following year.


Your GPA is great, I don't think it'll hold you back at all. You could definitely mention that you finished your undergrad degree in 3 years though, not so much as an "excuse" for your GPA, but just because that shows dedication and motivation.

I have also "heard" that UT MPA grads have a shot at some of the BB IB's and MBB's of the consulting world...but I really have to wonder how true this is. I'm sure they recruit for accountant/internal audit/back office positions, but analysts? I would honestly be surprised. If you're still at UT though, you could help us all out and ask around :)

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I know of two that were 5-year sequence that got into top boutique banks in NY. They definitely showed interest in investment banking (finance/investment club, internships). Another couple are at lesser known banks - middle market type. I don't think I know anyone that entered consulting (a few go from Business Honors Program and Plan II Honors [Liberal Arts]). A glut of them went into Big 4, mostly audit I think, but I would think if you wanted transaction advisory and do well, you could get it. Big 4 is definitely the path of least resistance :). I really don't have a clue about people that didn't do the 5-year sequence since I was in undergrad and associated mostly with fellow undergrads.

I think if you really want to go in the direction of consulting or banking, you have to be aggressive now and start getting any related experience (both work related and organization related) to demonstrate that that's what you want to do. The program is so short relative to undegrad, you don't have a leeway to mess around like in undergrad where you have 2 years prior to junior year recruitment). It's definitely true that the big names give interviews to top MPA students. From that point on its up to you to impress. I think besides the Business Honors Kids (firms are in love with them), everyone that got banking at UT as an undergrad really pursued it from the beginning.

If I were to guess (...don't restate this as fact 'cause I'm not certain), an MPA student would be viewed in the same light as a regular (non-Honors) undergrad. I know of plenty that majored in Finance in undergrad with good GPAs; they got into Bulge Bracket banks in the state of Texas (energy-related) and top boutiques around the country (L.A., San Fran, Chi, TX, NY). But I'm just in the dark as much as you regarding the traditional MPA recruitment :)
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 29 Sep 2010, 08:49
I wouldn't place your bets on getting into a BB Ibank or consulting from the MPA. Any example of it will be an exception, and not the rule.
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 29 Sep 2010, 15:12
Dawgie wrote:
I wouldn't place your bets on getting into a BB Ibank or consulting from the MPA. Any example of it will be an exception, and not the rule.


I agree. I would also say the same about getting into transaction advisory groups. I have also heard (granted, not directly from individuals doing this, so take it for what it's worth) that for the few who do start out in transaction advisory straight from undergrad, that it's not all it's cracked out to be and that you're probably better off starting out in audit or advisory for a few years before you move into transactions. And that's not saying that transaction work itself isn't a good place to be, just that the staff/associate-level work is a far cry from what you would expect/hope for.
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 29 Sep 2010, 15:20
Well as I said, Big 4 is the path of least resistance. The % going into finance from the 5-year sequence weren't many, but it is possible.
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 29 Sep 2010, 15:24
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While we're on the subject of discussing alternatives to the typical external audit/tax route, I'll give a shout out to my current school's (Louisiana State University) Internal Audit program. http://www.bus.lsu.edu/centers/cia/

I'm wrapping up my last semester in the program right now as an undergrad, but you can also take it as part of the graduate program. The program is considered the premiere internal audit program in the world (it was actually started back in the 80's as the pilot school by the IIA). It places very well into Big 4 advisory roles as well as F500 internal audit positions. LSU's tuition costs are also extremely cheap and they're in the process of constructing a brand new business building, so it's got a lot going for it.

If anyone has any questions, send me a message and I'd be happy to answer them.
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 30 Sep 2010, 01:03
I'll post what I have for now, although this may change.

Program: MAcc
Applying to: USC, San Jose State, Cal State-LA, Cal State-Fullerton, UCLA (Ph.D.)
GMAT: Practice test was 710 (Q49 / V38), taking officially in November
GPA: 3.45 (from Top 10 school, non-accounting major)
No internships / Very little relevant work experience. :(
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 30 Sep 2010, 09:01
Dawgie wrote:
I wouldn't place your bets on getting into a BB Ibank or consulting from the MPA. Any example of it will be an exception, and not the rule.


why is that?
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 04 Oct 2010, 22:37
Umm, because when the placement stats show that only 5% get into banking, you shouldn't expect to be one of the 5%. When 88% get into public accounting, then you can probably expect to be in the 88% if you work hard and want to do public accounting...
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 05 Oct 2010, 17:44
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Diogenes wrote:
Umm, because when the placement stats show that only 5% get into banking, you shouldn't expect to be one of the 5%. When 88% get into public accounting, then you can probably expect to be in the 88% if you work hard and want to do public accounting...


True. But you should consider that many of the students don't have any desire to do banking/consulting. I'm not sure what percentage try to get banking jobs, but I imagine most MPA students are solely looking at Big 4. The ones who want to do banking can do it from undergrad; they don't need the MPA.

I have to agree with you though on one thing. He shouldn't attend UT with the idea it will land a banking position. The MPA degree is more flexible than most programs, so there may be that option; but I wouldn't depend on it.

Last edited by kseel on 05 Oct 2010, 17:49, edited 1 time in total.
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 05 Oct 2010, 17:48
Program: MAcc
Applying to UT-Austin, SMU, maybe USC, Villanova, UIUC
GMAT: 7XX, GPA: 3.2 Cumulative (3.5 Acct)

I have not taken the official GMAT yet. I took the GMAT Prep test with no practice and scored a 700. I expect to raise that significantly by my test date (nov20); hopefully I can pull a 750+ to make up for my low GPA.
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 10 Oct 2010, 15:09
Program: MAcc/MPA

Applying to
1. Texas A&M, Alabama, Georgia, Missouri
2. UT-Arlington, Arkansas

Term: Fall/Spring - 2011/2012
Undergrad: Arkansas
Major: Accounting/Finance
GMAT: N/A - Dec 2010, GPA: 3.1 Cumulative (4.0 ACCT)

Work Experience: None, applying for internships next spring.
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 11 Oct 2010, 04:44
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geauxtigers wrote:
I'll go ahead and throw in my stats/schools even though I still have to take final GMAT.

Program: MS Accounting
Schools: UT-Austin, USC, Notre Dame, Michigan, Louisiana State University
Undergrad: Louisiana State University, Accounting Major, Internal Audit specialization
GPA: 3.7 major, 3.6 overall
GMAT: 650 (Q40, V40) on Official GMAT Prep practice test w/ no preparation
Work Experience: Summer internship in Big 4 Advisory practice; internship in internal audit department of Fortune 500 company; two parts of CIA (Certified Internal Auditor) exam passed as of today - taking last two parts over the next month.

Ordered my GMAT prep books yesterday, taking GMAT in early November. Shooting for closer to 700 which I think should be attainable with a little preparation. Will update after taking official GMAT.

Also applying to Villanova's M.S. in Finance, and Duke's Master's of Management Studies program.


I got in to ND last year with pretty much the exact same stats as you. Good Luck!
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 13 Oct 2010, 19:49
When do people normally submit applications (Month and/or date)? I am wondering how far I can delay the GMAT until I'm good and ready.
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 14 Oct 2010, 04:48
sailtheworld wrote:
When do people normally submit applications (Month and/or date)? I am wondering how far I can delay the GMAT until I'm good and ready.


Depends on the school. Some schools accept students in both Spring and Fall. Others, only for Fall admissions.

In addition, some schools have priority dates and rolling admissions date for deadlines.

Especially for competitive programs, earlier you apply, the better. But never apply if you are not ready (GMAT, etc)
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 20 Oct 2010, 05:37
Hi, everyone! I'll throw my hat in the ring.

Program: MAcc
Schools: N.C. State, UNC-Greensboro, UVA, Wake Forest, William and Mary
GPA: 2.9 for B.A., 3.0 major, 4.0 in accounting prerequisites
GMAT: 730 (45Q, 46V)

My situation is a little unusual, because I'm a career changer (aka non-traditional student). I have a B.A. in government from a "public Ivy" over 15 years ago. After many rounds of layoffs and buyouts at work, I decided I needed to find another career path. I've been working my way through the accounting and business prerequisites over the past 18 months. I have lots of (unrelated) work experience, and I don't have any internship experience yet. My extracurriculars in college, community involvement since then, and awards at work make me confident that part of the app will be well received. I'm happy with my GMAT score, although I would have been happier if my quant score was higher than verbal. Obviously, my undergrad GPA is the biggest concern. Any sense of how much that will hurt me, if I've been doing very well in the accounting/business classes I've taken recently?
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 20 Oct 2010, 22:25
peggster wrote:
Hi, everyone! I'll throw my hat in the ring.

Program: MAcc
Schools: N.C. State, UNC-Greensboro, UVA, Wake Forest, William and Mary
GPA: 2.9 for B.A., 3.0 major, 4.0 in accounting prerequisites
GMAT: 730 (45Q, 46V)

My situation is a little unusual, because I'm a career changer (aka non-traditional student). I have a B.A. in government from a "public Ivy" over 15 years ago. After many rounds of layoffs and buyouts at work, I decided I needed to find another career path. I've been working my way through the accounting and business prerequisites over the past 18 months. I have lots of (unrelated) work experience, and I don't have any internship experience yet. My extracurriculars in college, community involvement since then, and awards at work make me confident that part of the app will be well received. I'm happy with my GMAT score, although I would have been happier if my quant score was higher than verbal. Obviously, my undergrad GPA is the biggest concern. Any sense of how much that will hurt me, if I've been doing very well in the accounting/business classes I've taken recently?


Good luck with the applications. We have pretty similar GPA/GMAT scores and some application overlap. I would be surprised if you were not admitted to every program on your list. If anything, I would probably be more worried about how hiring firms will treat you as a non-traditional prospective employee.
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 21 Oct 2010, 16:01
.

Last edited by hehatesmee on 04 Mar 2011, 07:38, edited 2 times in total.
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Re: 2011 Master of Accounting / Taxation applicants UNITE! [#permalink] New post 04 Nov 2010, 06:36
I'll throw mine in, too:

GPA: 3.4
GMAT: 700
Undergrad Major: Poli Sci
Schools: BC, Bentley, Northeastern MSA/MBA

I'm feeling good about my chances at most of those schools. I live in Boston and don't really want to move. All accept non-accounting undergraduate degrees, with some prerequisites. Northeastern is actually a dual MSA/MBA that requires a 3-month paid internship at a firm. According to them, they have 100% placement of graduates because the firms set aside jobs after recruiting season for those who interned with them through the program. I've talked to a lot of people at firms that take Northeastern interns and grads, and apparently it is no joke, they are at 100% placement.

My question for anyone is how to decide on the program? Northeastern seems to have a great program with guaranteed job placement at a large Boston firm, but BC has a great reputation in the Boston area for pretty much every single program they offer. Should a lot of it be based on scholarships/debt-load after I graduate? Any insight would be appreciated.
Re: 2011 Master of Accounting / Taxation applicants UNITE!   [#permalink] 04 Nov 2010, 06:36
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