Not meaning to be offensive but I did say it was just my opinion. Congrats for taking on that challenge, you will find many more doors open for you. I just feel that passing the test doesn't prove much. People put too much emphasis on it.
Well at my firm once you obtain your CPA you automatically become a junior manager and your salary then becomes 130K. I don't know what the hell you are talking about. If you take the accounting route, why would you not want a CPA? If you don't have your CPA you still make anywhere from 85-95K for the year. Starting is 65K.
Wow, 65k is pretty high for starting out. I will graduate from UHD (not main campus) this spring and if i make anywhere near 50k im happy.
This is my exact point. You "automatically" become a junior manager just because you pass an exam. This is why I say the industry puts too much emphasis on it. If this week I do not have a CPA and next week I pass the exam have I suddenly increased my knowledge and skills enough to warrant an increase in salary from 95k to 130k? I've worked with CPAs and non CPAs. With equal experience and education no difference in skillset or abilities. IMO I would value an MBA, 2 years of well rounded education over passing an exam.
Well I put good money into my education and am getting a nice return on my [parent's] investment. I actually know a few people at UHD that graduated earlier this month and they seems to be doing pretty well (starting 50-55K) with accounting degrees. A few others are starting off with Deloitte and KPMG. You won't make nearly as much, but I recommend that route to begin with. A Big 4 is probably the best place anyone can start off at. If I could do it again, I would start off as an intern with Deloitte and work my way up. I'd recommend doing a year and a half of tax and then a year or two in audit and see which I like more. They also encourage you to try both sides. I know a partner at Deloitte and I respectfully turned down an offer just last week (I didn't want to take a 50% pay cut and have to work more hours with less vacation time ~ it was just a lose-lose situation for me), but if you need help I can probably get you a lunch meeting with him. He'll tell you what exactly they're looking for and ask you what your career goals are. If it works out he'll be able to set up a formal interview with some other partners and managers.
But what you're not understanding is you don't just obtain your CPA license overnight. You need 150 hours first (if you graduated with 130 and are working full time it will take you two and a half years just to meet that requirement), then you need a year to prepare for the exam, and then two years to take and pass the exam (4 parts). That's 5 years from now, and you would have gained so much more knowledge just working full time every day. It all comes down to experience. Then when you do get your CPA you can actually sign off and take full responsibility for all of the work you do, which entails more responsibility and a higher salary (and yes, it's definitely warranted) I guess it's the thing with residents and doctors. I don't want to go into full detail, but most residents are capable of doing what doctors in their same field of study do. Yet, it's only after they finish up their residency in four years that their salary goes up by about 677%. Now we can ask the same questions as before. Why are they making so little to begin with? Did they not study the same material? Are these interns not as smart or knowledgeable as their doctor counterparts? It just sounds stupid to say that a recent college graduate who has no accounting experience is just as knowledgeable as a CPA who has 10 years experience in public accounting. Naturally, CPAs have a greater skillset too. Like you, I value an MBA, but I just think it's better to have both the CPA and MBA. The possibilities will then be endless.
Does that necessarily hold true in all cases though? I'm in a five year MBA program and I, along with a lot of the other fifth years, plan on sitting within a year of graduating. Pretty much everyone from recruiters to professors have advised that that's the best way to go. I guess my question is, even with having the MBA, CPA, and a couple summers interning with a Big 4, aren't I still gonna be the new guy who just got out of school and really doesn't know what the hell he's doing yet? I figured that I was just doing it for the competitive edge/faster promotions.
A finance degree and 5 years experience will net you $60K+ in the energy industry. Straight out of school you can still pull down $45K.
Everything he says is true. I run the natgas phys book for a bank, but I started as a scheduler for a Houston-based trading company. I worked in Houston for 5 years while getting my MBA at UH and going to a crapload of happy hours and Rockets/Astros games (there are a lot of season tickets out there in the energy trading sector.) Then I found a gig up here in Manhattan. If you want to talk about this more in-depth, PM me. (Sturm's book is solid although no one says Fixed-for-Float anymore, its Swing Swap. Don't read it and start spewing late 90s gas trading terms.)
Thats great to hear that UHD students are good after they graduate. And i appreciate any help on getting an internship or job And i know a few friends that work for Deloitte, and they do have to bust their asses. I guess it'll pay off in the end.
most of the finance guys in our school, especially those working in bigger banks, see atleast 60k before bonuses even, but in a field even like ibanking, ive seen a friend who studied english, got hired by goldamn for ibanking... so there are other routes in too, but this is for the NYC, i dont know how much salaries differ down south
You trade Natty? That is the toughest market to trade in my opinion. Crude in comparison is a bit easier. I myself am on a Precious Metals desk trading Gold Comex, but I have alot of respect for the Natty guys. As for degree and getting into Wall Street, do your networking properly. Half the guys I work with just went to some city college with a basic undergrad degree. Everything they learned about the game they did on their own, by reading books in their free time while in their youths. We have a disdain for the Ivy League guys hired by the big IB banks. These guys show up with alot of theoretical knowledge, but no common sense in the real world.
You can drive a 18 wheeler and make kind of money, so whats ur point?I think what phillyrocket was trying to say is do something you like and dont worry about the little stuff. I didnt mean to sound harsh if i did.
That's why for every Yale kid with a knack for options, you import some Gas Trash like me from H-town, OKC, SLC, or Denver to handle the fundies.
Tool, because this thread is titled degree programs and the OP was wondering which route to take regarding finance or accounting. But yeah, truck drivers make good money. So do doctors and lawyers. Professional sports players make the most out of any of the 4 aforementioned professions. I'm sorry, what exactly is your point now? My point is real simple if you know first grade math and are able to put two and two together. If you get your CPA, you automatically make 40K more a year. So it's worth it any way you look at it.
No. What he said isn't exactly true. Look, I've already done this stuff, and I'm in public accounting right now (Gosh...busy season is about to start...). You need 1 year of experience before you can be a CPA. What normally happens is you graduate and began taking the exam. You can be done anywhere from 2 months to "only God knows". It depends on how you study and do on tests. Does your skill set increase after you are certified? Yes. You have to study finance, economics, business law, accounting, financial reporting, auditing, tax, etc. just to get through the test. Its not easy. Ultimately, what I'm realizing is that the value in accounting does not really come from your CPA license, but (at least for me), it comes from experience in public accounting. I could leave now and make an additional 10-15K, but if I left 3 years for now, I could make 30-40K more. I have no clue where yall are getting these figures of doubling salaries, getting and extra 40K right away, etc. E-mail me those companies, because I'd like to apply. (takar100@live.com). I'm serious too, only one person has left my office at my level and make 100K. And I'm not at a small firm either. I'm not big 4, I'm in a "global 6" firm. Basically the 5th largest.
I did the global energy program at UH, fantastic program that is only getting better. My best advice is to double major with the Energy program + accounting. If you actually take interest in the energy classes and LEARN not just pass exams then I am confident you will find a company excited to have you.
I earned my BBA in Finance and Marketing this past May from UH. I am now working as a middle school teacher while pursuing my Masters in Education at UST. I know of many Finance majors who graduated and now work as personal bankers, something you do not even need a degree for.
Good tips all around Any tips on how to get certified for teaching jobs FAST? My friend has no teaching experience to speak of, but would like to have the option of teaching middle school math or something similar, heck even social studies (he was history major). So if you have a bachelor's degree in a non-math or non-science major, how many hours do you need in, say, math to be able to teach middle school mathematics in Houston? What is the quickest route to getting a teaching job somewhere?
Well I am teaching at a Catholic school as a part of this Masters program at UST. To teach at a Catholic school you only need 12 hours of education courses but the pay as not as high as public schools. As far as I know to become certified to teach in Public schools you have to go through the alternative certification program.
