Yes. I mean no. I mean it depends.
Why do all of these accounting answers end up being it depends? ISN’T ACCOUNTING SUPPOSED TO BE STRAIGHTFORWARD?
Well, like most things in life, you are the determining factor when it comes to what you want to do. We all come from different circumstances, and what definitely works for one person is disastrous for another.
If you’ve asked yourself “should I go to grad school for accounting” at least 50 times in the last week, use this friendly roadmap to help you decide whether the MACC path is right for you.
Yay Grad School!
Reason #1: You Need The 150 – This is probably the #1 reason people go to grad school (that’s why I cleverly put it as reason #1). You graduated with 120 hours. You need 150. You may as well use the MACC to get the extra 30.
Reason #2: You Don’t Have A Great Job Lined Up – Keep in mind that this should be a job you feel great about. If you aren’t excited about your job prospects, put off working and go for the degree. It may make you more marketable in the future and will give you time to sniff out jobs that align with your career trajectory.
Reason #3: You Want Time To Pass the CPA Exam – Some MACC programs are great because they’re specifically geared toward passing the CPA exam. They’ll have 4 “blocks” of classes and each of those blocks corresponds with a certain exam. It will give you a chance to pass without the pressure and unpredictability of working full-time.
Reason #4: You Want To Teach Someday – If teaching at the college level is your dream, you need to have your Master’s degree. You may not need it right now, but you will someday.
Nope, Not Trying To Spend More Money
Reason #1: You’re At 150 Or You’re Really Close – True story: I graduated undergrad with 146.5 hours. Was I about to spend thousands of dollars on a MACC degree when I needed 4 more hours? No. I took Introduction to Norwegian (woohoo 4 hours language courses!) over the summer while studying for the CPA exam.
Reason #2: You’re Going To Pass the CPA Exam By The End of The Year – And you know it. If you already have your 150 and are completely prepared to put in the time for the exam, why wait another year before you can start earning money?
Reason #3: You’re Ready To Get Started – Some of us love school. Some of us despise it. If you’re ready to be done with the classroom and start real-life, and you have your 150 or are really close, just do what you have to do to pass the exam.
The One Question To Keep In Mind
Remember that C, P, and A are the most important letters you can put behind your name as an accountant. So consider all the reasons above and ask yourself this question when debating grad school: will it help you become a CPA? If the answer is yes, then grad school it is. If the answer is no, save some money and jump right into your job.