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Post by bnj123 on Jan 26, 2011 21:26:54 GMT -5
I'm contemplating getting a second undergraduate degree. I currently have a B.S. in Finance. I'm thinking of getting a B.S. in Accounting. It will cost roughly $7000 (that doesn't include books). Have any of you gotten a 2nd bachelors? If so, did it pay off? What are the potential drawbacks to having 2 undergrad instead of say a Masters?
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Deleted
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Post by Deleted on Jan 26, 2011 21:28:08 GMT -5
I'm contemplating getting a second undergraduate degree. I currently have a B.S. in Finance. I'm thinking of getting a B.S. in Accounting. It will cost roughly $7000 (that doesn't include books). Have any of you gotten a 2nd bachelors? If so, did it pay off? What are the potential drawbacks to having 2 undergrad instead of say a Masters? Why don't you go for a masters in Accounting instead?
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Post by bnj123 on Jan 26, 2011 21:37:18 GMT -5
To qualify for the Masters in Accounting I need to have 7 classes in accounting (I only have 2) which completes the undergrad degree in accounting. I have the requirements (besides taking the GMAT) to apply to the MBA program, but not to specialize in accounting.
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Post by Deleted on Jan 26, 2011 21:53:35 GMT -5
To qualify for the Masters in Accounting I need to have 7 classes in accounting (I only have 2) which completes the undergrad degree in accounting. I have the requirements (besides taking the GMAT) to apply to the MBA program, but not to specialize in accounting. Any reason why you want a bachelor in accounting? I have a bachelor in accounting but I am in management now and haven't use my accounting degree since 2008 (before was a AP clerk, then AR clerk during college and then part of the accounting department after graduation). I am thinking about going for a masters in the fall, and instead of a Masters in Accounting I am going for an MBA but still plan to take the CPA exam afterwards.
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dancinmama
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Post by dancinmama on Jan 26, 2011 22:02:49 GMT -5
To qualify for the Masters in Accounting I need to have 7 classes in accounting (I only have 2) which completes the undergrad degree in accounting. I have the requirements (besides taking the GMAT) to apply to the MBA program, but not to specialize in accounting. So why don't you just get your MBA? What do you want to do when you grow up?
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Post by kinetickid on Jan 27, 2011 2:21:43 GMT -5
Finance and Accounting are so closely related that getting a second bachelor's in accounting just doesn't seem worth it to me. As was said above, a Master's in Accounting or an MBA might be a better bet.
I do have two bachelor degrees myself, but in two totally unrelated fields. In my case, it was well worth the investment to get a second degree, but that's because the second degree was in an altogether different area and it opened up new job opportunities that my first degree couldn't do.
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Post by marjar on Jan 27, 2011 11:21:45 GMT -5
Daughter's bf has his bachelor's in finance. He works for one of the big accounting firms as a financial risk analyst. He just applied to various B schools and is waiting on his acceptance letters, or not. He feels the MBA will give him a broader scope and skill sets that are more adaptable.
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Post by BeenThere...DoneThat... on Jan 27, 2011 11:30:25 GMT -5
...I would get a 2nd undergrad for a different line of work... it can "pay off" in that way from an earnings standpoint... my sister did that to teach two subjects, which begets job security... ...but if you consider school a rewarding hobby, it could also pay off in that way... I know plenty of friends who spend $5K/yr on entertainments but then bemoan the fact that they have nothing to show for it... such is life...
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wodehouse
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Post by wodehouse on Jan 27, 2011 11:31:01 GMT -5
I'd definitely consider a Masters degree of some sort instead of a second Bachelors.
I have a BS and MS in Engineering. One of my teaching assistants in university was a lady who had been a PE teacher (so she had some kind of degree in education) but was going into engineering. It was better for her to get the MS in engineering rather than a second BS. And these two fields are not similar at all, unlike the fields the OP mentions.
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souldoubt
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Post by souldoubt on Jan 27, 2011 11:32:28 GMT -5
Unless you are going to pursue your CPA license I wouldn't recommend getting a degree in accounting. That's something every professor I had in college told me and I think it was good advice. If I were to do school over again I'd still major in accounting but minor in finance. At this point if I were to go back to school it would be to get my MBA.
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Regis
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Post by Regis on Jan 27, 2011 11:39:28 GMT -5
I have two Bachelor's Degrees, in civil engineering and land surveying, that I worked on concurrently. It allows me to be professionally licensed in both in any state.
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mmkad4
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Post by mmkad4 on Jan 27, 2011 12:04:39 GMT -5
I'm a senior Accounting student who will be starting an MBA with a concentration in Accounting in the Fall. I agree with the advice others have given you to just look into getting a Masters in Accounting. I will be getting my MBA from the same university I attend now just because, during my research, this will be the most efficient and cost-effective option. However, I did research other universities in my area before making my decision and many of them offer an MS in Accounting to 1) Accounting majors; 2) Business majors; 3) non-Business majors. As you might guess, those with a Business major would have to take more classes to obtain the Master's degree than would an Accounting major (e.g., take Intermediate Accounting I & II, which is usually only taken by Accounting majors). Likewise, non-Business majors would have to fulfill even more requirements (e.g., take Principles of Accounting I & II, which is something that most Business majors take and, obviously, is a requirement for Accounting majors, and then also take Intermed. Acctg I & II). This is one university I looked at, just to give you an idea of what I'm talking about: 1) www.jcu.edu/boler/resources/graduate/programinfo/mssacc.aspx2) www.jcu.edu/boler/assets/documents/coursescheduling/MSAccflowchart.pdfYou should look into programs from different universities. Also, if you are planning to take the CPA, you would need 150 college credits (in most states) as well as meet certain other course criteria (you will need to take very specific Accounting classes). Consult the Accountancy Board's Website for your state. If you went back for an undergrad in Accounting, you'd have to meet residency requirements imposed by the college in order to graduate and would probably have to take more classes than you would to obtain a Masters. I think that's a big mistake. I talked to my advisor a year ago about getting a degree in Finance after I'm done with Accounting and her answer was, "don't ever do that!" Anyway, I hope this helps!
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sil
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Post by sil on Jan 27, 2011 18:17:47 GMT -5
"To qualify for the Masters in Accounting I need to have 7 classes in accounting (I only have 2) which completes the undergrad degree in accounting. I have the requirements (besides taking the GMAT) to apply to the MBA program, but not to specialize in accounting. "
Does the masters program require high level accounting courses, or just any 7 accounting classes? And can they come from any accredited university? I shaved a semester off of my grad school bill by taking courses at my community college. I asked a lot of questions of the MBA admissions program and all of my community college credits transfered.
Maybe you can take additional accounting courses from a community college before going for your Masters in Accounting?
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Post by Savoir Faire-Demogague in NJ on Jan 27, 2011 18:32:01 GMT -5
There are many reasons to go undergrad, vs grad in Accounting. The poster indicates they will need numerous undergrad accounting credits to qualify. They can also transfer most of the credits from their existing degree to the accounting program, and with the required accounting credits they need to take anyway, just a bunch more credits will give them a BS in Accounting.. Also, a grad degree will be many fold more expensive, and the program would likely require taking 9 to 12 credits a semester and has a completion deadline. You are worked to death. A BS program you can take at your leisure. The cost of a grad program is insane also. JMO
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Post by Deleted on Jan 27, 2011 20:02:47 GMT -5
If you want to go for your CPA, I can see doing the second degree. My school requires 30 credits to get a second bachelor's and most states require 150 credits to sit for the CPA. You would have to look closely at the required classes for the CPA. You might need things in addition to the accounting classes to sit for the exam.
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Post by alphayankee on Jan 28, 2011 10:48:05 GMT -5
Will a Bachelors in Accounting get you different jobs than a Finance degree? In my area, they are interchangeable. At that level, the jobs require an undergrad degree in Business, Accounting, or Finance. Any of the three will get you looked at, then your job experience will get you the interview.
However, I understand where you are coming from. I was most of the way through an MBA program, concentrating in accounting, when I realized I really wanted extra breadth in accounting, so I switched to the Masters in Accounting. I was so far along in the MBA program that I was able to get both degrees. It looks kind of silly, but the extra effort only involved 4-5 extra classes and was paid for by my employer.
For me, when looking at your situation, I wouldn't recommend the extra undergrad degree. It probably won't give you much of a return for the money spent. But, if you have the cash and want to do it, go ahead. It won't hurt, it just won't help much.
As far as the cost of a grad program, they are not all outrageous. I went to a state school, and would have paid around $15,000 if my employer hadn't picked up the tab.
One other piece of advice I got, take it for what it's worth - a finance degree or an MBA will get you more interviews for finance-type jobs, while an accounting degree or a Masters of Acct or CPA will get you more interviews for public accounting or traditional accounting jobs. So look at what type of work you want and pursue the degree from there.
BTW - I am an accounting major all the way and I work in finance. Go figure.
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Post by Savoir Faire-Demogague in NJ on Jan 28, 2011 12:17:13 GMT -5
As far as the cost of a grad program, they are not all outrageous. I went to a state school, and would have paid around $15,000 if my employer hadn't picked up the tab.
Vs, a small percentage of that for an undergrad degree, of which the poster has most of the credits already.
To be honest, I was looking at a grad program about 15 months ago at a small college in nyc. Based on the info on their web site it was in the vicinity of $40,000, not including books and other fees. It was a two year program requiring 9 to 12 credits per semester. This is the only grad program I really looked at, so this is what I was going with here.
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