Are accounting grads a dime a dozen?

While I am thinking about getting one I am starting to wonder.. are they a dime a dozen degree? Is it an overflooded market? Will I find work?

 

It has to be more marketable (and valuable) than a BA in flute performance. probably not as fun though...

 

I'm an accounting student.

There are a lot of jobs and money in the CPA track - and it seems supply isn't matching demand. The number of people sitting for the CPA exam has actually fallen since the mid 90s.

Starting salaries at the Big 4 accounting firms approach 50k in large markets. 40k for smaller firms and less expensive areas. Most people start off in audit. The firms like to see a 3.3GPA or above, and 150 credit hours to make yourself eligible for the CPA. They want the exam passed within a year or two, and a Masters is required for most advancement. They can require up to 70 hour weeks during busy season. The people who stick with it can make partner in 10-15 years, and make $$$,$$$. But a lot of people leave after they make manager in 3-5 years for lucrative jobs in the private sector. With this background a lot of controller or even CFO opportunities open up.

Other than the CPA track - well, why bother. Just look at some of the salary ranges on Craigs List for plain accountants. 30ish - might as well be a librarian.

Everything I've said is based on these forums, where I've read almost every career/education thread going back as far as their archives do.

http://www.accounting.com/forum2/default.asp
http://www.vault.com/hubs/501/channelhome_501.jsp?ch_id=253
(Check out the main Accounting board, as well as the specific ones for each Big 4 firm)
http://www.cpanet.com/cpa_forum/default.asp

 

Well going accounting and not getting your CPA doesn't makes too much sense to me. However, I really have no desire to work for the Big 4 or put in 70 hours a week. I was looking more for a comfy 40-50 hour a week monday-friday city type job.

 

Well, because a degree in forensic accounting sounds like it could a lot of fun, and I hear it can pay ok as well. Forensic accounting is how you get the bad guys these days. Heck, that's how they got Al Capone

 

My best friend is a fresh accounting grad (graduated Dec. '05 with a 3.3 GPA) and he was offered and accepted a position with a large energy firm and is making 32 grand and stands to receive a significant pay increase when/if he obtains his CPA credentials.

 

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My wife is an accountant; I oversee online Business Administration programs at a college. Her experience confirm's Vincey37's description, above.

An AA in Accounting is only just this side of useless. A BA in Accounting is good, but you need to complete a fifth year, in order to qualify for a CPA in most states. I have heard that Delaware is the easiest state to qualify for, they have no residency requirement. If your employer wants you to be a CPA, simply as a way to filter out the riff-raff, then Delaware might be the ticket.

If you expect to rise in the organization, then you'll need a Masters degree.

On the other hand, a CPA and a bit of entrepreneurial spirit could lead you in the direction of setting up your own CPA firm and hiring your classmates.

Florida Atlantic University's Online Masters in Forensic Accounting Degree is marketed very heavily, but it is an Executive Masters program that runs about $36,000. We have heard that recruiters will not take a forensic accountant seriously without at least a few years of experience.

An alternative would be to earn a Master of Accounting degree at your local Big State U., and then pick up the four or five Forensic Accounting courses that were not covered in your program.

Your mileage may vary.

 

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I hit the Submit button too soon.

If you combine a BA in Accounting with the MIS core, chances are that you will not have to look for work upon graduation. Work will come looking for you.

Since you have to complete a fifth year, in order to qualify as a CPA in most states, you might as well spend your time well.

 

Re: debits on the left - credits on the right

Beware DE, they specifically disallow DL in their requirements. The best state to apply to if you're a DL student wanting to take the CPA exam with minimal education is, in my opinion, VT. Only 60 credits required, no residency.

 

Re: debits on the left - credits on the right

The FAU program is also not very flexible. As you go through as a group, you must spend two full years to complete the program.

 

Well I was going to get a degree in Business Economics from my local university by way of DL with all my electives going to get me a concentration in accounting.

However, are you guys saying I can't sit for the CPA if I have a DL degree?

 

Nope. As far as I know, Delaware is the only state which does not allow DL to qualify.

 

Re: Re: debits on the left - credits on the right

Thank you for the tip! This is very valuable and worth investigating.

If what you say here is accurate, I wonder how Delaware knows if you did all of your coursework at Big State U. online or in the classroom.

The FAU Forensic Accounting program consists of ten courses, about half of which are part of the regular Master of Accounting (MACC) program. In-state tuition for the MACC program is less than $8,000. The tuition for the Executive Masters in Forensic Accounting is around $36,000. In one program, you pay less than $4,000 for those courses; in the other, you pay around $18,000.

While I am not willing to call this unethical, per se, it is irksome to see taxpayer-funded organizations engaging in this kind of price discrimination. (Note to non-economists: 'price discrimination' is the charging of different prices for the same good or service; it is not a pejorative.)

 

Depends on the experience and skill level. Beginning accountants do start in the thirties for the first several years. If the worker advances into managerial, cost, controller or other accounting specialty, then salaries in the fifties and sixties are the median.

This can vary widely according to your state's accountancy board requirements for certification. In Ohio, any (regionally accredited?) Associate's degree qualifies you to sit for the exam...once you've obtained 30 s.h. of accounting courses, 24 s.h. of business courses and scored 1200 or better on the GRE general exam. As a matter of practicality, you might as well get the baccalaureate degree so your coworkers don't snicker so much behind your back.
Private accounting is still alive, well and lucrative; particularly for those who deepen and widen their education or seek industry certification (e.g., auditor or managerial).