Age and career

[Ava]

This is based on the thread "I am really delusional?" I just read.
Like the OP, I'm forty years old and I got an accounting degree. I graduated last year.
This question is hypothetical because I'm at a crossroads in my personal life right now.
If I decided to pursue an MBA, and then go for CPA certification, do you think it would be worth it for someone my age?
It was mentioned in the other thread that you never see a 40 something person working an entry level auditor job.
I wonder if it wouldn't be a waste of money, time and effort to pursue the CPA certification at my age. I am working an entry level job right now, as a financial analyst. I get to use my accounting education, but I am not really working in the accounting field. I got this job right away after school. I finished classes May 2012, looked for three weeks, and got this. 
I enrolled in a MS in Accounting program, but didn't go through with that. I felt overwhelmed for many reasons; mostly personal but also thinking about the financial burden I would put upon myself and whether I would ever recoup that.
I don't think the Big 4 would be interested in someone like me. I just don't see it.
Of course I could try a smaller firm, but I think there's a lot of competition for jobs in CPA firms right now.
The pros are that I could do the MBA for really cheap at the same local state U I got my undergraduate. My manager is encouraging me to continue my education, and he has a reputation for being extremely flexible with people who study. The school is not too far away from my current job. So it seems like the right circumstances to do it.
But could I get a job that pays enough to justify an MBA? I want to move out of state (or maybe even out of the country) and enrolling in that program would mean staying here for now. To be honest, I'm afraid to move to another state alone with only an undergraduate and then be unable to find a job. Emotionally I am not up to it for the time being anyway.
I took some loans for my undergraduate, and so far I've had no problem paying back monthly. I am afraid of adding more debt (although it wouldn't be that much; around 12K because of in state public U tuition and work tuition reimbursement). 
I like studying, makes me feel driven, like I have a purpose, lifts my spirits, but I wonder if enough is enough. Do you think graduate education is worth it in my situation?


 

[zibazinski]

I think the Big 4 would be interested in you if you had your CPA.

[Ava]

Despite the fact that I would be 42 or 43by the time I get my MBA and sit for the CPA exam?

[zibazinski]

Perfect. My impression is that those places want your whole life. You have a life to devote to them.

[Tennesseer]

Ava-if you are going to pursue your MBA and CPA cert, make sure you do it AFTER you have relocated to an area where you will be happy.

Moving to a place where you will be happy should be your top priority right now.

[mcsangel2]

I am 41 and have worked in accounting for 17 years, although not in management as I never finished college. I am back in school now and will get my degree when I am 46 (blehhhh...).

In accounting, getting both an MBA and CPA is redundant. The CPA is worth way more. After I get my degree, I am planning on going ahead with the CPA as well. Yes, it will be worth it.

ETA: I should clarify...I realize that in order to qualify to sit for the CPA, you need an additional...what is it, 60 credits? Which is equivalent to a Master's. I just wanted to point out, it's the credits you need, not the master's degree. Most people finish their bachelors with some credits as well.

[souldoubt]

I'm the one who said I don't see green 40 something auditors but that doesn't mean those individuals aren't getting hired by those firms.  There's always a need for accountants, the demand is expected to grow and the big 4 aren't the only firms out there.  You ask questions about major life decisions that ultimately only you can answer.  If you don't like living where you do, working where you do or if you want to further your education then do something about it.  

[flutterby]

    Ava, I've been following your posts and also agree it might be better to move where you'll be happy first and then worry about schooling. As for the CPA, I've been thinking the same thing. I'd be about 45 by the time I could get mine, is it worth it at that point? OTOH, that's still 20+ years of working life left, so maybe it is.

[zibazinski]

I think it is big time. Those are prime working years for an employee and an employer. Win-win.

[swamp]

Despite the fact that I would be 42 or 43by the time I get my MBA and sit for the CPA exam?

You will be 42 or 43 in a few years whether or not you have your MBA and CPA.  If you want it, go for it.

Honestly, Ava, sometimes I want to smack you.  You are so bright and so ambitious, but you let your self doubts hold you back. 

Go for it!!!

[sheilaincali]

DH is going back to school this fall.  He is 40 now and it will likely take him at least 2 more years to graduate.  He plans on staying in the same industry he is in now.  In fact with the tuition assistance that his employer will give him they will be basically paying for his entire degree.  Only catch is he has to commit to staying with them for 2 years after he graduates.  Otherwise he has to pay back the tuition assistance.  But they are a great company to work for and he has no desire to leave them.  They promote heavily from within and this will set him up nicely for future promotions.

FWIW- I didn't graduate until I was 30. 

The fire under DH is the fact that DS will be going to college in three years.  DH wants to graduate college before the Boy graduates from high school. 

[thyme4change]

From what I have heard, which may have changed in the last few years, it is unlikely you will be picked up by the Big 4.  They like to get them young and burn them out.  They used to stay away from non-traditional students, including those who were in their late 20's.  Maybe they have changed.

However, there are a million small firms and there is no reason to believe you couldn't be picked up by one of them if you are persistent.  You could also go straight into corporate accounting without being an auditor first.  The MBA and CPA will help you out there.  

[justme]

Make sure you talk to your adviser if you go for the MBA about sitting for your CPA. I know for my MBA those that wanted to become a CPA had to take different courses than those who were just aiming for MBA. I'm not sure whether it was a take this instead of that or a you also have to take this class to sit.

[violagirl]

I think the MBA and CPA are redundant. You could also do a Masters in Tax. Tax specialists are in high demand. I was hired at almost 30 by the largest accounting firm in my part of the country. I didn't do auditing, so i can't speak to that experience. I went right into entry level  tax. Now people will try to scare you about the "crazy" hours. While I am busier during tax season, I've never worked more than 60 hours in a week. And I may only do a couple of weeks like that during April. During tax season I might go in an hour early, leave at five - have supper, walk dogs etc, and then work from home from 7-9. 

Recently I was hired by Big4..I was told horror stories about the long hours etc etc. Turns out they are very family friendly, flexible - you can take summers off, or shift hours during the week, can work from home. I'm working less here than I did at the smaller firm. My schedule is now more spread out over the year which makes it easier. 

I disagree with posters that say a 40 something can't get a job. Maybe this only works if you look young, but since I just graduated, people assume i'm only 24 or 25.  

[thyme4change]

How old are you?  I don't think anyone would be so foolish to think I was 20 years younger than I am - no matter what my resume said.  

[Bob Ross]

No point in working for the Big 4.  All they do is consolidate or get caught in illegal activities and go out of business.

Pretty soon, it'll be the Big 1, which will own your soul.

Then the zombies will come and it'll be the Big 0.

[violagirl]

I'm mid 30s. Accounting is my second career. I might just throw in another before I'm done. 

I just don't get it when people who are 40 talk as if they don't have another 20+ years of work left. That's enough to start a whole different career and take it in another direction. It doesn't generally take that long before a person makes it to a proficiency and earnings point that is the top of their range. 

40 isn't exactly ready for the rocking chair yet. Yes younger workers are willing to work on Saturday for the pizza(?!), older workers tend to be better self-managers. Younger workers may be naive enough to work crazy hours, older workers are not going to be taking a year off to have a baby, then finding another job just before they need to go back to work. 

I am happy that the office I currently work in, is staffed in general by people 40+ along with come retired consultants. Nobody expects/wants the after-hours work parties because everyone just wants to be home with their families. Everyone is fairly autonomous, it is almost like being self employed, but sharing office space with other self employed individuals. We know why we are there - to work, not to make buddies. 

[Sum Dum Gai]

I'm not a CPA, but my sister is.  I think you should focus on the CPA first and worry about a master's, if you even need one, later.  Jobs that require a CPA require a CPA.  You can't substitute years of experience or a higher degree for one.  Jobs that "require" a masters usually let you sub years of experience or the CPA certification for the degree.  Now, if you need a ton of credits to qualify to sit for the CPA so the difference between taking those and getting the masters is only a handful of classes you might as well get the degree.  If you already have most of the credits you need for the CPA, just finish that first, and start marketing yourself. 

[Ava]

Dark, I need the 30 extra credits to qualify for a CPA license. I can sit for the exam, but not get licensed without the credits. I figure it's better to get all my education out of the way before sitting for the exam. You have 3 years after you pass all 4 parts of the exam to get licensed, if not, you have to start from zero again.