From the mailbag:
Hi Andrew,
I was curious to get your thoughts about acquiring an MBA for accountants? Is it something that is necessary for upper management, or general upward mobility? Or does it have substantive bearing on your potential promotions, etc…? For a technical skill set job such as Accounting, would it even be worth the tuition + opportunity cost?
I’ve heard mixed things on this topic, and would be delighted to get your take.
Thank you,
Bean Counter fan!
A few weeks ago I shared a post about how I paid off $55,000 in student loans in 14 months. While that was an incredible accomplishment for me and something I am proud of, I would not approach my decision about which degree I picked and how much I paid for them the same if I could do it over again.
If I could avoid the $50,000 and go to community college, work another part-time job, and get my 5th year instead of a Masters Degree, I would.
The truth is, as an accountant, the bread and butter certification or degree is the CPA license!
If you become an accountant and don’t get the CPA license, it is like getting you JD but never passing the bar exam, MADNESS! While there are certain situations you should get an MBA, I want you on a plan to get your CPA and start your career as a first priority! If and when an MBA fit into that plan, go for it! But it is by no means a requirements to be a successful accountant!
Listen to my full thoughts on when it is appropriate for an accountant to get an MBA in this new video as part of #AskTBC.
#AskTBC is a new video blog series where YOU ask questions, and I’ll answer them! Ask me a question on twitter or email me at andrew@thebeancounter.com.
