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18 Dec 2014, 22:06
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Hello,
I just wanted to provide a quick review on an accounting program that started approximately two years ago, and give prospective candidates who are interested in applying to the program a chance to have their questions answered. I will provide a general review of the program for people who are only interested in a quick read, and I will also include a few questions that prospective candidates usually ask me.
General Review:
While there is plenty of competition for new audit and tax associate positions in Orange County and Los Angeles, I believe that UC Irvine's MPAc program will help you become a competitive candidate (if you are a domestic student). The program has generated a lot of interest from CPA firms, including the Big 4, and I believe that the program will continue to grow in prestige in the coming years. Recruiting and placement opportunities is the biggest concern that students have, and enrolling in UCI's program will give you plenty of chances to network with recruiters, associates, managers, and even partners from the Big 4 and other regional firms (Grant Thornton, BDO, McGladrey, etc.). However, I must note that while the program provides these opportunities for its students, you must be able to take advantage of them, so having good-to-great communication skills and being memorable will make your life easier during the recruitment process (and having a good G.P.A will certainly help you as well).
If you are looking to enroll in a master of accounting program, I believe that UCI will help you achieve your professional goals, especially if you are a non-major who is interested in working in public accounting. The program provides great recruiting opportunities and an interesting diversity of classes to sink your teeth into, including the opportunity to take a few MBA courses. I will conclude the general review by saying this: there is a relatively older post about UCI’s MPAc program that I believe is slightly disingenuous in its interpretation of the program. While I am not knowledgeable about the writer’s experience with the MPAc program, I disagree that one should look elsewhere in order to find a successful accounting program. If you are a good communicator and have a respectable GPA, this program will help you become successful in your goal of finding a position as an audit associate or a tax associate. Even if you are somewhat lacking in your communication skills or if you do not have the best GPA, please don’t be discouraged because you will still generate interest from recruiters. Just be aware of your advantages and know how to utilize them to your benefit.
Now, here are a few good questions that I have received from students interested in applying to the program.
What differentiates UCI's accounting program from other schools?
Giving non-majors the opportunity to take a summer course is the first advantage that comes to mind. The pre-requisites that must be completed before you are eligible to enroll in the summer session are minimal (introduction to financial accounting and introduction to managerial accounting). USC, for example, requires a few more classes, making it slightly more difficult to enroll in their program as a non-major, especially if you are working full-time. Also, depending on how diligent you are, you will have the opportunity to take a few MBA courses. I list this as an advantage as you can pursue other interests that may not be related to accounting, which sounds great to me because, after taking intermediate accounting and cost accounting, you will be begging to take other business classes. Also, from my limited research on other accounting programs, you will be limited to either accounting-related coursework or only have the opportunity to take one (maybe two) MBA courses.
What are the program's main strengths?
The associate directors will help sharpen some of soft skills before recruiting starts, which I think is a good advantage to have compared to some of the other programs that are competing in the same market. I cannot stress this enough so I will repeat myself: if you are lacking in your ability to communicate effectively, you will find the recruiting process more difficult. In my opinion, the people who were most successful during the recruitment process did not have the highest GPAs, but have relatively unique personalities and are great communicators. In other words, they set themselves apart by being memorable and by showing enthusiasm for the career that they hope to begin after graduating.
Also, the program requires its students to attend pro-seminars, which are great opportunities to network with professionals and learn about their careers. I found them to be very interesting, and speaking with some of them has given me a greater perspective on the field of accounting and my desired industry. I found their professional experiences and words of wisdom to be very helpful.
Lastly, the program will help you to ensure that you are eligible to obtain your CPA after graduating. If I am not mistaken, other schools seem less interested in ensuring that you are taking the right classes before you graduate.
What is your opinion on the summer session for non-majors?
Ok, so this question has the potential to generate a lot of controversy among non-majors who are currently in the program. While the summer session makes an accounting program much more appealing to non-majors, there is a major drawback that remains unmentioned until it is experienced. In other words, while taking four accounting courses in ten weeks is great opportunity to accelerate an accounting program for non-majors, if you decide to take the summer session at UCI, you will be competing with international students who majored in accounting while they were undergraduates.
So let me clearly explain the problem that has left some people somewhat frustrated: you will be competing against international students who have the advantage of already experiencing very similar classes (intermediate accounting and auditing, specifically), so while you will be learning most of the material for the first time, they will already be aware of the content and will usually have less trouble with the coursework. Why is this a problem? Because obtaining an A or an A- in the class is that much more difficult; for example, while undergraduate students are usually assisted by at least a minor upward curve for intermediate accounting, you will most likely not be saved by one because the international students will most likely inflate the class average to a B+/A-. Why isn’t this fair? Well, it stems from the fact that it is no longer a fair playing field on which to compete (when compared to an undergraduate program). Why doesn’t the program separate us into two different classes? Good question.
I don’t mention this to discourage you from taking the summer session should you need it. I am only warning you of the impending difficulties that you face should you decide to take this route. Moreover, I will add that the domestic students who share in this frustration were successful in obtaining offers from both the Big 4 and regional firms. So is it a deciding factor that will hurt you? No, but we all want as many advantages as we can get before recruiting starts.
What is the program’s most apparent weakness?
Ah, yes, the most controversial question that everyone likes to ask. Well, I would like to provide an honest answer to an honest question. I feel that the program’s greatest weakness is its decision to enroll a significant number of international students (approximately 40% of the current cohort are international students). I say this for the sake of international students who wish to enroll in UCI’s program.
Allow me to be brutally honest with you: at the time of this post, most of the international students didn’t receive offers during the recruitment process. Why? Well, most of the firms, including the Big 4, are hesitant to provide sponsorship. In fact, from what I understand, only the Big 4 are willing to pay for sponsorship, but the opportunity is somewhat rare. However, finding placement for international students is difficult. USC has one of the best accounting programs in the nation, but it only placed approximately 59% of its international students (i'm referring to the class of 2014 profile).
So why do I consider this a weakness? Part of having a great professional network is contingent upon forming friendships with people whose careers are continually advancing. In my opinion, this is why people step over themselves to go to Stanford, Yale, Harvard, etc. Could you also say that it is the education, the professors, or the prestige that leads to great professional opportunities? Of course, but what is the seed that we hope keeps growing throughout our careers? It’s our network. So, if a large segment of your cohort is unable to find placement, then a similar portion of your potential network withers with it.
I hope this post has helped a few people. While I am critical of certain aspects of the program, I still believe that it is a great program that provides its students with many advantages. The administrators of the program give you enough freedom to define your experience, so if you are diligent and hardworking, you will feel more than satisfied with what the program offers its students.
I will be more than happy to answer questions that you may have about the program. Please do not hesitate to ask.
Thank you for reading!
I just wanted to provide a quick review on an accounting program that started approximately two years ago, and give prospective candidates who are interested in applying to the program a chance to have their questions answered. I will provide a general review of the program for people who are only interested in a quick read, and I will also include a few questions that prospective candidates usually ask me.
General Review:
While there is plenty of competition for new audit and tax associate positions in Orange County and Los Angeles, I believe that UC Irvine's MPAc program will help you become a competitive candidate (if you are a domestic student). The program has generated a lot of interest from CPA firms, including the Big 4, and I believe that the program will continue to grow in prestige in the coming years. Recruiting and placement opportunities is the biggest concern that students have, and enrolling in UCI's program will give you plenty of chances to network with recruiters, associates, managers, and even partners from the Big 4 and other regional firms (Grant Thornton, BDO, McGladrey, etc.). However, I must note that while the program provides these opportunities for its students, you must be able to take advantage of them, so having good-to-great communication skills and being memorable will make your life easier during the recruitment process (and having a good G.P.A will certainly help you as well).
If you are looking to enroll in a master of accounting program, I believe that UCI will help you achieve your professional goals, especially if you are a non-major who is interested in working in public accounting. The program provides great recruiting opportunities and an interesting diversity of classes to sink your teeth into, including the opportunity to take a few MBA courses. I will conclude the general review by saying this: there is a relatively older post about UCI’s MPAc program that I believe is slightly disingenuous in its interpretation of the program. While I am not knowledgeable about the writer’s experience with the MPAc program, I disagree that one should look elsewhere in order to find a successful accounting program. If you are a good communicator and have a respectable GPA, this program will help you become successful in your goal of finding a position as an audit associate or a tax associate. Even if you are somewhat lacking in your communication skills or if you do not have the best GPA, please don’t be discouraged because you will still generate interest from recruiters. Just be aware of your advantages and know how to utilize them to your benefit.
Now, here are a few good questions that I have received from students interested in applying to the program.
What differentiates UCI's accounting program from other schools?
Giving non-majors the opportunity to take a summer course is the first advantage that comes to mind. The pre-requisites that must be completed before you are eligible to enroll in the summer session are minimal (introduction to financial accounting and introduction to managerial accounting). USC, for example, requires a few more classes, making it slightly more difficult to enroll in their program as a non-major, especially if you are working full-time. Also, depending on how diligent you are, you will have the opportunity to take a few MBA courses. I list this as an advantage as you can pursue other interests that may not be related to accounting, which sounds great to me because, after taking intermediate accounting and cost accounting, you will be begging to take other business classes. Also, from my limited research on other accounting programs, you will be limited to either accounting-related coursework or only have the opportunity to take one (maybe two) MBA courses.
What are the program's main strengths?
The associate directors will help sharpen some of soft skills before recruiting starts, which I think is a good advantage to have compared to some of the other programs that are competing in the same market. I cannot stress this enough so I will repeat myself: if you are lacking in your ability to communicate effectively, you will find the recruiting process more difficult. In my opinion, the people who were most successful during the recruitment process did not have the highest GPAs, but have relatively unique personalities and are great communicators. In other words, they set themselves apart by being memorable and by showing enthusiasm for the career that they hope to begin after graduating.
Also, the program requires its students to attend pro-seminars, which are great opportunities to network with professionals and learn about their careers. I found them to be very interesting, and speaking with some of them has given me a greater perspective on the field of accounting and my desired industry. I found their professional experiences and words of wisdom to be very helpful.
Lastly, the program will help you to ensure that you are eligible to obtain your CPA after graduating. If I am not mistaken, other schools seem less interested in ensuring that you are taking the right classes before you graduate.
What is your opinion on the summer session for non-majors?
Ok, so this question has the potential to generate a lot of controversy among non-majors who are currently in the program. While the summer session makes an accounting program much more appealing to non-majors, there is a major drawback that remains unmentioned until it is experienced. In other words, while taking four accounting courses in ten weeks is great opportunity to accelerate an accounting program for non-majors, if you decide to take the summer session at UCI, you will be competing with international students who majored in accounting while they were undergraduates.
So let me clearly explain the problem that has left some people somewhat frustrated: you will be competing against international students who have the advantage of already experiencing very similar classes (intermediate accounting and auditing, specifically), so while you will be learning most of the material for the first time, they will already be aware of the content and will usually have less trouble with the coursework. Why is this a problem? Because obtaining an A or an A- in the class is that much more difficult; for example, while undergraduate students are usually assisted by at least a minor upward curve for intermediate accounting, you will most likely not be saved by one because the international students will most likely inflate the class average to a B+/A-. Why isn’t this fair? Well, it stems from the fact that it is no longer a fair playing field on which to compete (when compared to an undergraduate program). Why doesn’t the program separate us into two different classes? Good question.
I don’t mention this to discourage you from taking the summer session should you need it. I am only warning you of the impending difficulties that you face should you decide to take this route. Moreover, I will add that the domestic students who share in this frustration were successful in obtaining offers from both the Big 4 and regional firms. So is it a deciding factor that will hurt you? No, but we all want as many advantages as we can get before recruiting starts.
What is the program’s most apparent weakness?
Ah, yes, the most controversial question that everyone likes to ask. Well, I would like to provide an honest answer to an honest question. I feel that the program’s greatest weakness is its decision to enroll a significant number of international students (approximately 40% of the current cohort are international students). I say this for the sake of international students who wish to enroll in UCI’s program.
Allow me to be brutally honest with you: at the time of this post, most of the international students didn’t receive offers during the recruitment process. Why? Well, most of the firms, including the Big 4, are hesitant to provide sponsorship. In fact, from what I understand, only the Big 4 are willing to pay for sponsorship, but the opportunity is somewhat rare. However, finding placement for international students is difficult. USC has one of the best accounting programs in the nation, but it only placed approximately 59% of its international students (i'm referring to the class of 2014 profile).
So why do I consider this a weakness? Part of having a great professional network is contingent upon forming friendships with people whose careers are continually advancing. In my opinion, this is why people step over themselves to go to Stanford, Yale, Harvard, etc. Could you also say that it is the education, the professors, or the prestige that leads to great professional opportunities? Of course, but what is the seed that we hope keeps growing throughout our careers? It’s our network. So, if a large segment of your cohort is unable to find placement, then a similar portion of your potential network withers with it.
I hope this post has helped a few people. While I am critical of certain aspects of the program, I still believe that it is a great program that provides its students with many advantages. The administrators of the program give you enough freedom to define your experience, so if you are diligent and hardworking, you will feel more than satisfied with what the program offers its students.
I will be more than happy to answer questions that you may have about the program. Please do not hesitate to ask.
Thank you for reading!
09 Feb 2015, 23:09
Kudos
Bookmarks
Hi, thanks for the thorough review! But I'm not sure if the program "guarantees" minimal prerequisites because according to the website, "The pre-session will be required of those who possess an excellent undergraduate record of achievement, strong letters of recommendation, and a clear focus relative to a career in accounting; and, who need specific prerequisite coursework in accounting and business." Does that mean only the people with outstanding grades and work experience are going to be given the opportunity to take the summer classes?? I'm worried because my undergraduate degree was COMPLETELY irrelevant to accounting and my GPA isn't stellar. 
10 Feb 2015, 11:18
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csn4207
Hello!
So I would say that as long as you can prepare a competitive application, you should be able to take the summer session. I don't think you need to prepare a more competitive application. In other words, just focus on the averages that are posted on the MPAc website (but only to serve as a general guideline) and don't think you are behind the curve because you need to be significantly better than the average in order to gain access to the program's summer session.
Regarding your first concern, the fact that you didn't major in accounting isn't an issue. In my opinion, accounting programs like to see diversity in the cohort so being a non-major is a good start. Regarding your GPA, I would argue that you really not in a position to be able to "make it better," so I would focus on the other elements of your application. You can obviously do well on the GMAT, but you can also acquire strong letters of recommendation (I would get one from a supervisor, if possible, and the other from a professor) and prepare great answers to the essays that you will have to write.
If you have any other questions, feel free to DM me.
