Why get a Masters Degree in Accounting?

By Susan - Sunday 11 Jan 10:00 am

A degree in accounting is one thing, but obtaining a masters degree in accounting can open up and entire new world of opportunity that is separate to obtaining just an accounting degree.

The results for obtaining your masters degree in accounting might not present themselves immediately, as masters degree holders and accounting degree holders will initially be applying for similar jobs straight after completing their studies. The difference, however, comes in at a later stage. Masters degree in accounting graduates will have a more promising chance of being promoted into more lucrative and sought after positions as opposed to their regular accounting degree counterparts. When opportunities arise within the company that you work for, masters degree in accounting graduates will be at the front of the queue for receiving.

There are some employers who will insist on only interviewing candidates who have their masters degree in accounting. This is entirely dependant on the employer in question, and graduates with accounting degrees instead of masters degrees in accounting should not feel like they will be getting the short end of the stick. It merely states that having your masters can prove to be an advantage for you.

Another reason to obtain your masters degree in accounting is that most people studying accounting want to evolve through towards getting their CPA or Chartered Professional Accountant qualification. You need a certain amount of hours and units before you can reach the stage where you are able to qualify as a CPA, so you might as well use those hours and units by getting your masters degree in accounting. After obtaining your bachelors in accounting, you will need to obtain 30 units of credit to be able to apply for your CPA. Alternatively you will need to work for two years, whichever comes first. By working these years and obtaining these units of credit, you are actually venturing halfway towards getting your masters degree in accounting. It makes sense to continue and get your full masters degree in accounting instead of throwing in the towel halfway and moving towards getting your CPA. That way, time is not wasted and you will be more than qualified in your industry which always counts for a lot when approaching employers for work.

Some students feel that this is unnecessary, as the CPA degree is what you want to get according to them, and a masters degree in accounting is just wasting time along the way. To each his own.

Graduates with masters degrees in accounting will not receive that much more in salary initially when compared to accounting degree holders, although there can definitely be a difference. Again, it is determined by your employer.

In short, it seems like an intelligent and wise decision to move towards obtaining your masters degree in accounting while working towards getting your CPA. With an increase in benefits and job opportunity when compared against a regular accounting degree, a masters degree in accounting will definitely not be wasted and will pay for itself in the long run.

Posted in: College Degrees

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Should I get a 2 year College Degree, or go straight for a 4 year College Degree Program

By Susan - Monday 29 Dec 2:00 pm

You have graduated from high school and are looking towards your future college degree, but what are your options and where do you head from here? You are presented with two main options right off the bat: electing to enrol in a two year college degree or a 4 year college degree. Although 4 year college degrees receive a lot of hype and attention, they are not always the most suited for your personal requirements. There are pros and cons to each college degree and you will need to equip yourself with the background information on each one to decide for yourself which college degree is made for you.

Four year college degrees usually entail that students complete very general background subjects for the first two years, and then concentrate on their majoring subjects for the final two years. Those opting for two year college degrees go straight into their majoring subjects and complete their degrees in less time, although with a slightly lower level of recognition.

Pros of Two Year College Degrees:

• They are the cheaper alternative, resulting in you having less debt to pay on your college loan or perhaps no debt at all due to the overall reduction in fees 
• They are quicker than 4 year college degrees allowing you to start working much sooner upon completion 

Pros of Four Year College Degrees:

• These college degrees are highly recognized and rewarded worldwide in terms of employment opportunities 
• Highly commendable on and off campus learning opportunities in the form of lectures, cultural events, honor societies etc on campus, and study internships, field trips and education programs off campus 

Cons of Two Year College Degrees:

•  Not as highly revered as four year college degrees 
• Not as well rounded as four year college degrees resulting in a smaller scale of availability on the job front 

Cons of Four Year College Degrees: 

• The four year college degree option is extremely expensive, and will more often than not require that students take out a large college loan to pay for it. This could result in a substantial amount of debt needing to be covered after graduation 
• You can only start working two years after your counterparts who opted for the two year program 

Some students might not have the option of being able to study a four year college degree due to financial reasons, but they shouldn’t worry about it or feel that they have started out with a disadvantage. There are many jobs available to two year college degree holders, and many equal opportunities too. On the flip side of that coin are the advantages of studying a four year college degree if it is a viable choice for you. Some may choose to upgrade from a two year to a four year along the way once more funds have become available. Just because you have committed to one, it does not mean that you are stuck with your decision until completion. There is a lot of flexibility within both choices to change your college degree to suit your personal growth.

Posted in: College Degrees

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