Transferthrowaway wrote:Haven't read most of this thread, so I apologize if this has been covered already. I was an accounting UG who decided to go to law school.
1) MAcc Programs can be very expensive. I know Michigan's is something in the realm of $70k. Granted, this is less than 3 years of law school, but $70k for an outside shot at a job that pays $55k/year isn't so appealing.
2) Most entry level Big4 auditors, even if they've done a MAcc, have secured their full-time employment during UG.
3) Auditing sucks. Seriously. The hours are terrible and you do the most menial shit sometimes. One of my good friends does audit at a big 4 in NYC. He is literally working until 1-2 in the morning every night to be taking home $65k/year in NYC.
1. Its not an outside shot for jobs that pay 55k. Firms outside the big 4 pay close to 50k.
It costs 200k for most law schools. The avg law school graduate prob will not make 50-60k.
2. My significant other is in a MACC program. Her MACC program is at a good but not great school ( Not mich, usc or texas). They take about 40-50 students each year for the 1 year program and about half the students in the program are foreign. Almost all of the us citizens in her program have good accounting jobs lined up. Some big 4 some with firms right outside the big 4. The people who have problems are the foreign students. Outside the big 4, there are very few firms that hire individuals without a greencard.
She just got a job with a big4 firm with slightly above median grades + no work experience. Starting salary is around 55-60k in the east coast (not nyc) She told me that many contacts that she has networked with told her that the big4 is hiring back at pre recession levels. Unlike law, accounting has rebounded nicely.
The top schools (umich, usc, texas) have recruiters from ibanks, f500 companies for corp fin and also more accounting firms outside the big 4.