Masters Sponsorship

comm

I am a final year Commerce student and accepted an offer from one of the Big 4 firms to start work this October. However, I have since decided that I want to do a Masters in Accounting before starting work. I contacted the firm to see if they would sponsor my masters but to my shock and disappointment they said no.

I think I impressed another of the Big 4 firms more at my interview than the one I ultimately chose and perhaps due to this they would agree to sponsor my masters if I asked.

So what I am wondering is am I tied in a contract with the firm I chose or could I go to the other firm if they agree to sponsor my masters?

Mr. Incognito

They would all have their alloted sponsorships allocated by now, you'd be lucky. I'd still ask though.

As for contracts- as they say a verbal contract's not worth the paper it's written on. if you've nothing signed- off you go.

t_ucd

Apparantly though it's quite common for people to initially put themselves down for a Masters and then to later want to switch to direct entry. I know at least ten people going into the Big 4 and four of them aren't planning to do the Masters, even though they're still down as applying for it with their companies. When's the closing date? If the admin fee isn't that high and you really want to do it, it might be worth taking a chance and applying for it anyway - chances are that a spot might become available, especially when it comes to actually signing the contracts.

Running Bing

t_ucd wrote: »

Apparantly though it's quite common for people to initially put themselves down for a Masters and then to later want to switch to direct entry. I know at least ten people going into the Big 4 and four of them aren't planning to do the Masters, even though they're still down as applying for it with their companies. When's the closing date? If the admin fee isn't that high and you really want to do it, it might be worth taking a chance and applying for it anyway - chances are that a spot might become available, especially when it comes to actually signing the contracts.

Im down to do a masters but I am far from certain that I want to do it.


I know a few people in the same boat so I wouldnt be surprised if a few places come up.

Also what happens if someone doesnt get onto the masters, surely that would open up a place? Personally Id get back to them and say you understand places have been allotted but should one become free would they keep you in mind.

Fruiti

I work in a Big 4 and I'm shocked that they won't let you change your mind. I know several people who changed in both directions - i.e. some to do the Macc and others to start direct entry. Yes, definitely ask the firm to put you on a waiting list in case more places come up, also as another poster mentioned, some people may not get a place on the macc programme as I know demand is a lot higher than supply so if you have a 1st or v high 2.1 you would have a good chance.

I wouldn't just apply for the masters though without asking them as you're required to pay a deposit on application which you would forfeit if they refused to sponsor you.:(

Leon11

I've been offered sponsorship to do the Masters although I've now changed my mind due to other circumstances. I'm not sure yet if I'm allowed to go directly into the firm but I would be surprised if I was told otherwise. If it's the same firm as mine they even say on the conditional contract that they will do their best to help you if you change your mind either way.

For me my personal circumstances changed and that's why I'd be hopeful of going the direct route, maybe you just didn't give a satisfactory reason for wanting to do the masters?

For anyone who's done the masters how many places are typically available in UCD? I know that in DCU it's quite a small class (35-40 people) although they only deal with Cap 2/ Prof 3, afaik UCD involves parts of Cap1/Prof 2 and Cap2/Prof3. If you've already got your Cap1/Prof 2 exemptions DCU may be a better option for some.

Fruiti

I did it in UCD and it has approx 120 places. yep there are people on the course who don't have cap1/prof II exemptions - I was one of them! they run an intensive 2 week course at the start which aims to bring everyone up to speed on prof II.

If you've already decided not to do the macc you should let your firm know asap. they'll always try to accommodate everyone but most of them run extra interview dates during the summer for direct entry places so you should tell them before these are held. otherwise you may find you have a wait a year before joining as I know happened to a friend of mine in another firm.

Leon11

Ye so I guess I was too late in trying to change my mind as I was told they've met their requirements for this year. Strange that. Anyway not too bothered as there's definitely an advantage to doing it, guess other stuff will just have to be cut back next year so:(

Fruiti, how long did the average dissertation/thesis take on the macc program if you don't mind me asking?

Fruiti

Well you'll have a module called Dissertation Prep or something like that during the 2nd semester which is when you're supposed to be researching it etc and you do a presentation on your initial thoughts etc. Everyone will have their topic by feb/march or so but realistically anyone I know didn't begin actually writing anything until the summer. It's due on 15 August and your exams will finish around mid may so you have 3 months which is LOADS of time! Some supervisors are more demanding/hands on than others - i.e. some ppl meet theirs twice in total others meet twice a week for the whole summer! You'll find out more about them once you're on the course and can decide which approach you'd prefer. I really enjoyed the dissertation-its a break from financial accounting and auditing - argh!! Good luck!:)

aintnosunshine

Would 3.3 be high enough for a masters in Smurfit i'm doing Commerce with Accounting in UCD... think the masters is out of my reach unless an absolute miracle happend in these summer exams!

t_ucd

I'm on the old system so haven't much of a clue about GPAs, but that's about 62 - 63% right? You might just get in with that - the guy at the open evening told me the cutoff was 62 - 63% last year. That said, the competition seems to increase every year.

aintnosunshine

Thanks yeah it is about that. just gonna have to hope.. you don't happen to know what are my chances of getting into DCU as i am UCD student... If it is anything like Galway they basically only take in their own...

t_ucd

Really? I didn't know that. I don't know about DCU to be honest but since Smurfit seems like the hardest to get into, you might have a better shot there. I do know their MAcc classes are supposed to be a lot harder, but on the other hand you don't have to do a thesis with them.

Edit - forgot to say, I think the grades are by far the most important thing so I wouldn't worry too much about not being a DCU student. The UCD BComm is well-respected anyway so I can't see it being a disadvantage..

aintnosunshine

I'm nearly sure you've to do a thesis with DCU aswell.. i don't know if it's dcu or smurfit that u're allowed do a thesis with a partner... well if all comes to all i hear there is a masters of accounting in Letterkenny IT i'll probably end up with less exemptions there than i already have... (no offence to anyone in Letterkenny IT but they don't even say what exemptions they gave and there is a box to tick if you are going through FETAC so don't know how recognised it is):p

Leon11

Having weighed up my options I've elected to go with Maynooth purely for the fact it's pretty near my rugby club, gives all the exemptions etc and the big plus is that you only do a minor thesis during your 2nd semester! Summer time is free! I'm lucky in that Maynooth, DCU and UCD are all pretty much an equal distance from my house:D

DCU would be ranked higher academically because it's an MBS(which means you could lecture immediately in theory once you finish your contract!), AFAIK the academic standings go:

DCU (MBS)
UCD (M.ACC)
Maynooth/DIT (M.SC)

At the end of the day you'll get your exemptions from whichever institution you go to and that's all that matters. The talk of making contacts at such a young age is a load of bs to me personally, UCD seem to place a huge emphasis on this but if your in a class of 35-40* will you really be at any advantage compared to a class of the same size in DCU/DIT etc?

*I'm assuming ucd split their classes up into 3 or 4 groups

The_Hustler

t_ucd wrote: »

but on the other hand you don't have to do a thesis with them.

I wish!
We have to do a 15,000 word thesis on our own. I think UCD allow partners, but I'm not sure of the word count.

t_ucd

Wow, I heard wrong then! Definitely don't think Smurfit is 15,000 words each, though I suppose it doesn't affect me anyway since I'm not doing planning to do the MAcc anymore.

TelePaul

t_ucd wrote: »

I do know their MAcc classes are supposed to be a lot harder, but on the other hand you don't have to do a thesis with them.

40% failure rate if memory serves.

TelePaul

aintnosunshine wrote: »

Thanks yeah it is about that. just gonna have to hope.. you don't happen to know what are my chances of getting into DCU as i am UCD student... If it is anything like Galway they basically only take in their own...

I'd say your chances of getting in with 3.3 are probably higher than you'd think.

aintnosunshine

"Applicants will normally be expected to have achieved a 2.I result or better in the BA Finance and Accounting programme at NUI Maynooth or an equivalent degree programme" seems to favour the Maynooth student strongly.. it doesn't say anywhere the exemptions that it grants or any exemptions you should have already achieved.

The_Hustler

TelePaul wrote: »

40% failure rate if memory serves.

In DCU? I would not expect 40% of us this year to fail, but I suppose it could happen.

TelePaul

The_Hustler wrote: »

In DCU? I would not expect 40% of us this year to fail, but I suppose it could happen.

No, in Smurfit's MACC

Fruiti

Whaaat??!! I did the macc in ucd and every single person in the class of 120 graduated (the majority with at least 2.1s). I went into the macc having done 1 module of accounting during my degree (economics and finance) and got a first (barely - 70.2%!!). I also know at least 5 or 6 people in my class who had similar backgrounds and got similar results. Don't panic - it's not that hard!! And they totally spoil you - i.e. never had to print a set of notes - everything is handed out in colour coded binders - its fantastic! PS the thesis is 15,000 words and if you wish, you do it with a partner. it sounds a lot scarier than it is.:)

TelePaul

Fruiti wrote: »

Whaaat??!! I did the macc in ucd and every single person in the class of 120 graduated (the majority with at least 2.1s). I went into the macc having done 1 module of accounting during my degree (economics and finance) and got a first (barely - 70.2%!!). I also know at least 5 or 6 people in my class who had similar backgrounds and got similar results. Don't panic - it's not that hard!! And they totally spoil you - i.e. never had to print a set of notes - everything is handed out in colour coded binders - its fantastic! PS the thesis is 15,000 words and if you wish, you do it with a partner. it sounds a lot scarier than it is.:)

I'm going by what John MCallig said in an open day presentation. He's the course co-ordinator.

The_Hustler

TelePaul wrote: »

No, in Smurfit's MACC

Well you quoted somebody talking about the DCU course being harder, although I can understand because it was referred to as a Macc rather than an MBS.



Fruiti, would everyone not wish to do it with a partner? I know some people like to work on their own, I do myself, but if the wordcount isn't increased by working with a partner I would definitely do it.


In DCU you don't get spoilt. The odd lecturer hands you the notes but we don't have any colour coded binders! Though we always had 3 day weekends and by the end it became 4 day weekends.

Fruiti

well we didn't actually have the option of working with a partner - it was introduced the year after I did the macc. I suppose it sounds good but lots of people who are not from dublin went home for the summer to write it(as I did) so even logistically it could be difficult not to mention different writing styles etc. it totally depends on the person. honestly, 15,000 words is nothing; you'll be trying to cut down the word count by the end!

telepaul - the only thing i can say is that either the year i did the macc we were all geniuses or it was the easiest year ever!! perhaps 40% failure rate was an extreme year...? All of my intake from the macc (incl dcu and galway maccs) passed our faes first time so there's a lot to be said for it - even if you do find it tough!

Running Bing

How do the Big4 view it if you dont get accepted?


Im hoping to do the MAcc in Smurfit and I know its pretty competitive and things dont always go according to plan.


How does it work out if you dont get onto the course?