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Nov 2007:30 AM PST
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Learn what truly sets the UC Riverside MBA apart and how it helps in your professional growth
01 Apr 2010, 15:53
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Hi guys,
I'm new to this forum. I just had a couple questions...
Anyway, I currently work as a staff accountant at a Big 4 firm and I just finished my CPA. I'm currently living in a city I didn't intend to after ugrad, but due to the economic downturn I was forced to move. I've worked primarily with hedgefunds and financial services clients (and also M&A w/in healthcare industry), but as accounting goes, I've focused a lot on compliance and reporting requirements. I'm debating about future career goals.
I'm contemplating 3 routes…
Continue with public accounting to eventually become a controller/cfo or assistant controller in a financial services firm
Get a MBA in 3-5 years
Pursue a PhD in accounting
My question, however, is what would a MBA provide me? Say, with a consulting background, would a MBA allow me to transition into the banking world? Or am I forever going to be labeled as just an accountant and have to focus more consulting and back-office management? I just do not necessarily see the value in a MBA if I already have a CPA…but I could be completely mistaken. At big 4, most people have blinders on and we just see a very narrow avenue of the business. I was wondering if people had any insight, and any comments would be appreciated.
(Also, is this type of experience something that top b-schools look for? Or are accountants a dime a dozen and you really need something on your resume to stand out?)
Thanks!
I'm new to this forum. I just had a couple questions...
Anyway, I currently work as a staff accountant at a Big 4 firm and I just finished my CPA. I'm currently living in a city I didn't intend to after ugrad, but due to the economic downturn I was forced to move. I've worked primarily with hedgefunds and financial services clients (and also M&A w/in healthcare industry), but as accounting goes, I've focused a lot on compliance and reporting requirements. I'm debating about future career goals.
I'm contemplating 3 routes…
Continue with public accounting to eventually become a controller/cfo or assistant controller in a financial services firm
Get a MBA in 3-5 years
Pursue a PhD in accounting
My question, however, is what would a MBA provide me? Say, with a consulting background, would a MBA allow me to transition into the banking world? Or am I forever going to be labeled as just an accountant and have to focus more consulting and back-office management? I just do not necessarily see the value in a MBA if I already have a CPA…but I could be completely mistaken. At big 4, most people have blinders on and we just see a very narrow avenue of the business. I was wondering if people had any insight, and any comments would be appreciated.
(Also, is this type of experience something that top b-schools look for? Or are accountants a dime a dozen and you really need something on your resume to stand out?)
Thanks!
04 Apr 2010, 08:17
Kudos
Bookmarks
Welcome to the forum. Regarding your questions, the three routes you describe are very different, so first you need to decide what you want out of your career. Staying at a Big 4 firm is great preparation to move into a senior accounting role (controller/asst. controller). CFO it's a little less certain. A few partners I worked for at my Big 4 firm left to become CFOs, but they were pretty big shot partners to begin with. I think a lot of companies want their CFO to have more finance experience as well as being smart about accounting.
A PhD in accounting is really only worthwhile if you want to go into academics and teaching. Nothing wrong with that career path, but it's a very different path than controller or CFO.
An MBA gives you the opportunity to broaden your business expertise and would allow you to go into fields that a CPA would not. I know CPAs who got their MBA and now work in banking, so that's definitely an option. I personally am going from being a CPA into doing marketing. Because an MBA is a very unspecialized degree, there's really few limits on what areas of business you can go into with an MBA, which is not the case for a CPA.
As for whether Big 4 experience is something business schools look for, the answer is not so straightforward. On the one hand, being hired by a Big 4 firm tells the adcom something about your skills and accomplishments, because of the hiring standards that the firms have. However, because there are so many Big 4 accountants, you still need to have something on your resume (preferably multiple somethings) to make you stand out from the crowd.
A PhD in accounting is really only worthwhile if you want to go into academics and teaching. Nothing wrong with that career path, but it's a very different path than controller or CFO.
An MBA gives you the opportunity to broaden your business expertise and would allow you to go into fields that a CPA would not. I know CPAs who got their MBA and now work in banking, so that's definitely an option. I personally am going from being a CPA into doing marketing. Because an MBA is a very unspecialized degree, there's really few limits on what areas of business you can go into with an MBA, which is not the case for a CPA.
As for whether Big 4 experience is something business schools look for, the answer is not so straightforward. On the one hand, being hired by a Big 4 firm tells the adcom something about your skills and accomplishments, because of the hiring standards that the firms have. However, because there are so many Big 4 accountants, you still need to have something on your resume (preferably multiple somethings) to make you stand out from the crowd.
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