USC MACC interview coming up--pretty scared

No, I'm starting in the Fall. I haven't received an acceptance email from them yet, but my decision status is still on the website. I'm not sure how long I should wait before I contact them.

So I just applied for 2009-2010 as of Oct 31st 2008.
Here are my stats
GMAT 710
GPA 3.2 Accountancy from Villanova University
AWA 5

Curious what you guys think I should expect for turnaround time on my application. It's been two weeks, and I'm sitting on pins and needles! Curious how many people have submitted an application for next year... and what people think are my chances of getting in. I know there has been a wide range of gmat scores and gpa's being accepted and declined.

Let's get this board started for next year!

Those are solid numbers, Sniper. I think you will get in.

But, I advise you to look at other schools and weigh your options. I went to USC and I cannot say it was worth the $50,000 price tag. My best advice to those looking into a MAcc degree is to seriously reconsider your options. Getting a CPA is what will help you the most, not a MAcc degree. Your pay with a MAcc degree is only marginally better than the pay for undergrad accounting majors. My friend who is currently in the program received an offer for 52k. A masters degree earning 52k is ridiculous. In the long term your MAcc degree does not matter. It is worth repeating: You do not need a MAcc degree, just get your CPA.

Here is some solid advice for students:

For those who majored in accounting as an undergrad: Get your CPA and apply to the Big 4. You do not need a MAcc degree.
For those who did not major in accounting as an undergrad: Take classes elsewhere to get your units, then take the CPA. Apply to the Big 4.
For those who feel a MAcc is absolutely necessary: Minimize your poor decision making by going to grad school at a cost effective institution.

You do not need to spend $50,000 to take a couple accounting classes. I learned the hard way... and I'm still paying. Best of luck.

*edit: my total bill at USC was not $40,000 but $50,000, just wanted to clarify.

I did my Macc right after ndergrad at mich, and was able to get scholarship in addtion work as a Gradutate Student Instructor (GSI) so in essence my Macc degree was free. I would look into both options.

BTW most states if not all now require 150 credit hours in order to sit for CPA exam so you really do need a Macc (or MBA with llot of accounting) in order to be eligble to sit for the exam

Smokedpotatoes I am aware of the units requirement (and I briefly mentioned it in my post).

A MAcc is not the only option to get your units. One of the best ways for students who didn't major in accounting is to go through a CPA certification program. My friend went through UCLA's certification program and was eligible to take the exam (and passed).

Another option is to make a special request to a calstate, asking to take accounting courses at the school.

And then if you must get a MAcc: Enter a cost effective MAcc program

It's important to research what kind of accounting firms recruit at your school.

The idea that - "Go to any school, just get your CPA and then work for an accounting firm" - is kinda flawed.

Sure, it helps if you already have a CPA. However, CPA certification is a long process.

If you have a job offer from an accounting firm, you can have resources available to you - such as free CPA prep materials and reimbursement related to CPA exam cost etc.

^ I respect your opinion. But let me address your post.

The underlying theme behind my arguments is cost effectiveness. I just want to bluntly mention this, although I sprinkled that word several times in my posts.

My tuition at USC was close to $50,000 if you look at my total tab. $50,000 for a one year program. Cost effective? For a school like Yale or Stanford, sure. USC? Not at all. You mentioned CPA reimbursement by the firms. Their reimbursement is typically $5,000 (for Big 4, even less for mid to local firms) if one passes the test in the first year. The CPA reimbursement cannot even be compared to the ridiculous tuition costs at USC. $50,000 >> $5,000. Again, I'm looking at the big picture from a cost-benefit point of view.

Again, a CPA is far more important than a MAcc degree. There's evidence in the Big 4's pay structure: Look at masters students' salaries vs non masters students' salaries. The Big 4 pay differential signals how much more valuable they believe a MAcc degree is over a standard accounting B.S. degree. Do you know how small the difference is? Take a look at USC graduates' starting salaries.

Furthermore, look at the long run: the pay difference (as small as it is) converges as experience and leadership roles greatly eclipse the importance of a MAcc. Most graduate degrees greatly advance an individual's mobility--a MAcc is not one of them. At a Big 4, your MAcc degree bows down to experience and leadership history. This is undeniable.

I did not say to just simply go to any school. If you read my posts you'll notice that I recommended attending cost-effective schools.

While I was recruiting there were UCLA undergrads, CSUN undergrads, and even UCR undergrads alongside me and other USC MAcc students at Big 4 in-house interviews (all applying for the same entry-level position). Students from cost-effective schools can expect to do just as well as USC MAcc students (and avoid $50,000 in debt) as evidenced by Big 4 recruiting history.

BeenThereDoneThat,
For the most part I would agree with you. In fact I believe that in the long run a Macc degree is not worth much without a CPA (or intention to get your CPA if you just graduated). That being said I would disagree without about which school one chooses to get his/her Macc degree. In my opinion the better the program’s reputation the better the quality of firms that recruit at that a given school. A smaller less known school/program will most likely only get recruiters from regional firms or some big 4 firms that are hiring locally. In terms of cost many schools are generous with scholarships to offset the costs of the program. As I previously stated I attended the University of Michigan for undergrad, and then did the UM Macc program as well. Through a combination of scholarships and working as a graduate student instructor (GSI) where I taught an undergrad intro to accounting course, my tuition was free. The scholarships and GSI options are something to look into. As with MBA programs the better quality school you attend the more exposure you will get to interview and land a job at a top firm in the city of your choice.
SP

One thing that nobody has taken into consideration on the cost of USC is the benefit of how short the program is. All of the other programs in LA that I looked at were 1 1/2 - 2 years full time. (cal states, pepperdine) Graduating that much earlier is definitely worth money don't you think? If nothing else, the opportunity cost of continuing school while you could have been working at a Big 4 and earning even a meager "entry level" salary should offset the higher tuition cost.

I don't think there is right or wrong way to do this.

However, after Aug 2009 - all states are required to have 150 hours of college credits in order to sit for a CPA exam - therefore, undergrad vs grad salary no longer matters.

Secondly, many people care about the quality of reputation of schools they attend. Many choose USC for its stellar program, reputation and ability to place students in Big 4 accounting firms year after year. Also, Big 4 accounting firms recruit at specific schools only when it comes to hiring certain positions/programs. Not all recruiting effort is the same.

There is nothing wrong with choosing the cost-effective path. However, this probably means choosing schools with less stellar reputation or less name recognition. USC's competitive admission for their MS program (year after year) is a proof that many DO care about where they study. If USC does not offer much benefits than lesser schools, then they simply can not draw top students to their program every year with current tuition rate. (simply in demand vs supply view)

Big name schools often have better facilities, faculties, and resources compared to other schools (w. less name recognition). I am sure one can attend smaller programs and successfully land at Big 4 (which is very true since I see resumes from small schools I've never heard of all the time when interviewing).

But just like MBA applicants in this forum ask themselves questions such as "UNC + Scholarship vs Cornell w zero scholarship" or something similar, it is up to the individual to decide how he/she wants to do this.

Does it mean anything if you're called for an interview for USC's MAcc program or is that just standard procedure for all applicants?

USC does interview all the applicants as long as they meet the admission requirements.

ya I thought so. Got an interview coming up this Friday so I'm kinda nervous but I'm ready to accept what's coming my way either way. My stats aren't crazy: 3.84 gpa 610 GMAT. I only took one practice test for he GMAT in attempts to prepare n I guess my score reflects accordingly.
Anyone else have an interview coming up? Or is this forum completly dead?

This forum is usually quiet...mainly because only competitive MS students register at GMATClub.

usually, one can get into most MS programs with 600 GMAT. (especially easier if you did undergrad at the same school)

However, selective programs like USC have demand of highly qualified students. Just prep a lot and relax before the interview.

congrats, Vonska!

I've applied on 1-12-09, but, I haven't heard anything from the school yet.
I dropped off all the official documents to the admission office two weeks ago. but, my status is still
"incomplete." (well- but, I found out that they are still missing one recommendation letter.)
does this mean they didn't even start reviewing my application?
does any one know?
the wait is killing me. I am in the DARK.

You are correct. Admission committee won't review any part of your application until it's "complete"....

ya i failed to mention that i finished my application in like october.
in any case, im projecting a 50% likelihood of acceptance for myself.
any way around im ready. i dont think id die if i dont get in though.

Intern, what are your stats, if you dont mind us asking?
and what about you Majorshareholder?