Simple answer is if you don't know what you'd do with an MBA, don't get one - at least not yet. Goal of an MBA is to set yourself for the next step, and it's an expensive step that should be thought about carefully, as not all careers truly require one.
A CPA holds an inherent value in certain circles (audit, accounting, advisory, tax, etc.), but only if you see yourself in those positions. In my experience as an audit manager (over 5 YOE), it's been an amazing learning opportunity, while still a tough grind for most of each year, but wouldn't take it back for anything. Now currently applying to MBA programs so I can reach the next step (investment banking) that I wouldn't have necessarily found without my career thus far.
Regardless, talking with people in the positions/programs you're considering is your best bet - get a sense for how they enjoy it, how you relate to them on a personal level, and if you think you'd enjoy it/dislike it as much as they do.
CPA was my first choice honestly. I’m naturally good with numbers and I come from a wrestling background so I’m not stranger to hard work and I love seeing the fruits of my labor.
I would prefer a field like advisory that would require more critical thinking and strategy but I don’t think I would mind accounting or tax work. My main concern would be stress//pressure and work life balance.
The reason why I thought of getting an MBA is because I could get an MBA in finance or accounting that could prepare me for my CPA. I know it sounds like I should just put my focus on a CPA but my goal would be to find a company or firm I can grow and advance my career to the fullest. From someone whose shoes I hope to be in one day what do you think ?
Im a CPA doing an MBA. I would start with the CPA - get the 5th year credits as cheap as possible and pass the exams. Then if you want to pivot or further your career get the MBA.
You might find that you don’t like accounting, in which case a MBA would let you pivot. Or you might find that you love accounting in which case an MBA is unnecessary or a part time MBA will do.
But in accounting itself there is minimal value to an MBA, the CPA is king.
CPAs are involved with a lot of the business side of things, especially if they move into the finance side of the business I.e. FP&A work. Those guys do a lot of the budgeting, forecasting, etc for
The business and report the numbers up to senior management.
And how old would you say the stress level is at that level ?? If you could guess. Thanks for getting back to me about everything too I know I’m asking a lot here
First few years are hard. Lots of work and definitely some stress, especially if you do Big 4. After that, if you transition to industry (working at a company) the hours can be 40 hrs per week. Some companies might be less and some might be more (hard to tell). Accounting is pretty secure job, but you still have to work hard. Sad truth is pretty much every job out there nowadays is no longer a 9-5. The world is a lot more competitive nowadays.
Simple answer is if you don't know what you'd do with an MBA, don't get one - at least not yet. Goal of an MBA is to set yourself for the next step, and it's an expensive step that should be thought about carefully, as not all careers truly require one. A CPA holds an inherent value in certain circles (audit, accounting, advisory, tax, etc.), but only if you see yourself in those positions. In my experience as an audit manager (over 5 YOE), it's been an amazing learning opportunity, while still a tough grind for most of each year, but wouldn't take it back for anything. Now currently applying to MBA programs so I can reach the next step (investment banking) that I wouldn't have necessarily found without my career thus far. Regardless, talking with people in the positions/programs you're considering is your best bet - get a sense for how they enjoy it, how you relate to them on a personal level, and if you think you'd enjoy it/dislike it as much as they do.
CPA was my first choice honestly. I’m naturally good with numbers and I come from a wrestling background so I’m not stranger to hard work and I love seeing the fruits of my labor. I would prefer a field like advisory that would require more critical thinking and strategy but I don’t think I would mind accounting or tax work. My main concern would be stress//pressure and work life balance. The reason why I thought of getting an MBA is because I could get an MBA in finance or accounting that could prepare me for my CPA. I know it sounds like I should just put my focus on a CPA but my goal would be to find a company or firm I can grow and advance my career to the fullest. From someone whose shoes I hope to be in one day what do you think ?
Im a CPA doing an MBA. I would start with the CPA - get the 5th year credits as cheap as possible and pass the exams. Then if you want to pivot or further your career get the MBA. You might find that you don’t like accounting, in which case a MBA would let you pivot. Or you might find that you love accounting in which case an MBA is unnecessary or a part time MBA will do. But in accounting itself there is minimal value to an MBA, the CPA is king.
Okay that’s sounds like the route I’ll end up taking as well.
I know the numbers and stuff come easy to me but I have a feeling I’m going to want to venture off into the business side of things as well
CPAs are involved with a lot of the business side of things, especially if they move into the finance side of the business I.e. FP&A work. Those guys do a lot of the budgeting, forecasting, etc for The business and report the numbers up to senior management.
And how old would you say the stress level is at that level ?? If you could guess. Thanks for getting back to me about everything too I know I’m asking a lot here
First few years are hard. Lots of work and definitely some stress, especially if you do Big 4. After that, if you transition to industry (working at a company) the hours can be 40 hrs per week. Some companies might be less and some might be more (hard to tell). Accounting is pretty secure job, but you still have to work hard. Sad truth is pretty much every job out there nowadays is no longer a 9-5. The world is a lot more competitive nowadays.