@chb088 Again, that’s 5 years. Most schools still have bachelors in accounting. You don’t need a masters in accounting to get a CPA. You need 150 credits and the courses required by the state. For students with AP credits, they can be CPA eligible in 4 years by just majoring in accounting. An extra year for a degree that does not increase starting salary Is not a wise investment, imo. When my D (an accounting major) was planning on practicing, her 4 year plan, which includes a masters in business analytics, would have made her CPA eligible at the end of 4 years. She’s since dropped a couple of accounting electives since she’s decided to go in a different direction post-graduation and won’t be sitting for the CPA.
@itsgettingreal17 I can only really speak for NC. At UNC, they no longer offer a bachelor’s of accounting. I believe at Appalachian they offer both. At NCSU, their accounting website states “Students interested in becoming a Certified Public Accountant (CPA) should plan on pursuing a Master of Accounting degree.” So even if you don’t have to have a Master’s to sit for the exam, the schools are encouraging kids to get the master’s if they plan on it. I think perhaps because they are not as competitive without it. That is my observation after working in the field for over 20 years. But certainly if one isn’t looking to get a CPA, then the 5th year is not necessary.
@chb088 The Big 4 and other major accounting firms don’t care about the masters. They care that a student graduates CPA-eligible. Having a MAcc doesn’t make one more competitive and it doesn’t come with a higher salary. It’s a wasted year and cash cow for business schools.
@itsgettingreal17 actually big 4 and accounting firms generally prefer masters for a few reasons. Mainly they have more classes that provide a more detailed skillset. Many of these classes are in essence CPA exam prep which takes the risk away from the firms. Back when I got my CPA and got a masters in accounting, you did get paid more for a masters. Not sure today though. It can be done either way though. Most undergrad accounting majors don’t go to CPA firms and never sit for the CPA. They are accountants for industry and that is fine.
@jdogNC I disagree based on my D’s and my own research, including a big 4 sponsored summer program and informational interviews with many big 4 partners and recruiters. We researched this extensively. They don’t care and there is no pay boost.
@itsgettingreal17 disagree based on 30 years in the industry, many in big 4, hiring hundreds of accountants and being friends and business acquaintances with dozens of big 4 partners and MD’s. Can be done with just undergraduate with more risk for the firms, but they generally prefer graduate degrees.
I’m honestly a tad bit confused by this question. I am a stem major so correct me if i’m wrong, but UNC has one of the best business schools in the country with a master of accounting program? Literally all of the programs at UNC are strong so I don’t know how you could go wrong by coming here.
Wow, spirited debate about accounting! How cool is that? BTW, I am a CPA and the Controller of multiple manufacturing locations of a Fortune 200 global company. As mentioned, professional certification requires 150 hours rather than a graduate degree. Having a five year Masters of Accounting degree is a good option and UNC-CH has an outstanding program. So do the other schools mentioned. I am an App State Bachelors degree graduate, worked for Deloitte and have had plenty of opportunities and a great career. UNC-CH definitely has a wider footprint than more regionally focused schools but success is much more about ambition and drive than credentials. My ASU classmates have had tremendous success on national and international levels.
I currently have a staff accountant with a four year degree who is pursuing her MBA through an online program to reach the 150 hour requirement. She will sit for the exam and will be positioned to accomplish great things.
Thanks to everyone for your thoughtful comments and passionate debate.
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