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 Topic: Pursue PHD or find a job at age of 40? ( Topic Closed)
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crabbing
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Joined: 10 Aug 2011
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Posts: 18
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| Posted: 05 Nov 2011 at 14:10 | IP Logged
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MBA with 3 years working experience as accountant at U.S., passed 4/4 cpa exams in August this year (2011). Now consider what to do next......
Unemployment for almost a year (focus on the cpa exams), what should I do next? should I start to look for a full time job ( but the salary for an accounting position as medium level is not very well now the days.) Or pursue Ph.d degree,spend one month to prepare GMAT test? I have more than 150 credit with years of education background. But thinking of spending another 4 years to get a degree in order to be professor, it seems too long to me. but the professor's salary should be much better than as an accountant...
Age of 40 years old is a big dilemma for me. what should I do next?? any recommendation?
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cpafg
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Joined: 27 Dec 2010
Location: United States
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| Posted: 08 Nov 2011 at 17:53 | IP Logged
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If you like school and has no pressure to work, then PHD might not be a bad idea.
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NewguyCPA
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| Posted: 10 Nov 2011 at 18:41 | IP Logged
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Hi,
I am in the same boat as crabbing. I will be 35yo next
year. I migrated to US in 2008. Got my CPA license Oct
2011 from CA state [p/s: Thank goodness, CA state
recognize my foreign public accounting experience.]
It's kinda ironic - I have 6 years working experience
with oversea big 4 in Malaysia and China before I move to
US in 2008.Since then, i have applied to all the regional
firms and small CPA firms in CA. So far, I only have had
phone conversation with PwC and that too was rejected
after a week.
I thought by getting a CPA license would make a
difference. I was dead wrong. Even with my current CPA
licensing, I still cant find any jobs with public
accounting firms.
I wonder- should I get a Master in Accounting from USC?
I only have foreign degree in accounting-not from US. Is
lacking of US education the main reason for not
considering my application?
__________________
BEC-11/8/2008 91
AUD-5/4/2009 67,4/27/2010 87
REG-4/4/2009 67,4/24/2010 87
FAR-4/13/2009 74,8/30/2009 80
NOT US UNDERGRAD. NEVER STUDIED US LAWS, TAX,REGULATIONS PLUS US GAAP and US GAAS.
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TaxProfMom
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Joined: 19 Mar 2010
Location: United States
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Posts: 112
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| Posted: 07 Mar 2012 at 22:36 | IP Logged
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I have a MAcc and MBA, and have been teaching 4 years at a top-tier
university as an adjunct. Tenure track is REALLY hard to get on. You
must have a PhD from a top research univ. to even be considered. I have
great student ratings, play the politics well, and I can't get a non-TT
contract position. My dept. head says I'm fantastic, one of their best, but
another non-TT position is at least a year away.
I work 30 hrs a week, teach 6 classes a year year-round, and make -
ready for it? Between 4400 (undergrad) and 5000 (MBA) per class. I'd
more as a manager at Target.
When I was a big 4 project manager 9 years ago, I made 119k plus bonus.
Yes, my job teaching is fantastic and incredibly rewarding - but the pay
bites and no benefits.
Newly crowned CPA even with experience - line up behind everyone else
who wants to teach. Community college is even worse - about 2200 per
course. Most of the instructors I know cobble together accounting,
consulting, corporate ed, adjunct work at multiple universities - and are
lucky to pull in 60k per year.
If you're serious, check out the Chronicle of Higher Ed and other
education forums. I love what I do, but it pays horribly.
As an aside, I have a cousin with a PhD in Electrical Engineering, is a
department chair, tenured at a medium sized university - where he's been
for 25 years. He makes $62k per year.
__________________
FAR - (Becker) 4/11 83!
AUD - (Roger) 8/11 86!
BEC - (Roger) 11/11 87!
REG - (Roger) 2/17/12 84!
BA Econ '93, MBA '00, Kid1 '04, Kid2 '06, MSAT '09
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TaxProfMom
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Joined: 19 Mar 2010
Location: United States
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Posts: 112
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| Posted: 07 Mar 2012 at 22:38 | IP Logged
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Oh, and GMAT is easy like the SATs - no prep needed beyond a few
Saturdays running practice tests. I'd get a job first, then think about if there
is even a qualified research PhD program near you.
Also it's rare that universities hire their own PhDs - the expectation is you
will relocate after graduation.
__________________
FAR - (Becker) 4/11 83!
AUD - (Roger) 8/11 86!
BEC - (Roger) 11/11 87!
REG - (Roger) 2/17/12 84!
BA Econ '93, MBA '00, Kid1 '04, Kid2 '06, MSAT '09
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