Masters v. CAP2 Exams

bhur

Which is viewed upon more favourably by employers? Any difference in pay?

collegeme

Not too sure but a friend of mine during the boom got 1k more for having a masters over those who were to sit CAP2 that year.

So I reckon there would be little or no difference comparing someone with Masters to someone who has sat and passed CAP2. Just my opinion.

Username2011

Masters do get paid more in their first year.

They sit their FAEs in second year.
So they only have 1 years set of exams to do - always a plus considering the pass rate in cap2s Summer 2010 was approximately 3 out of 10 people.
That pass rate in CAP2s makes it sound like the masters route is easier. Although it does mean another year in college. Personal choice I suppose.

CAP2s have 2 sets of tough exams. You earn less money in first year than masters people but this evens up in year 2 if you get both your CAP2s and FAEs. In addition, most of the big firms offer a tax free bonus of a couple of hundred as an incentive to pass CAP2s first time.

The reason Masters get more money presumably is that they are more educated, but also they work longer than other students (as have less study leave).

Hope this helps

verywell

Don't be fooled into thinking the masters way is easy though! it is a lot of work with A LOT of subjects per semester.

Best of luck either way!

bhur

Many thanks for all you replies, i figured the masters was the more structured of the two. Out of all of the Masters which is the most desirable, NUIG, DCU, UCD, AIT?

EveT

hi Bhur,

was talking to one of the cap 2/fae lecturers a few weeks ago who works in PWC, he'd be high enough up in institute I think and he said in his opinion people coming from masters are at a disadvantage for FAE, it is their first set of professional exams and also said that people coming from CAP 2 are more current than masters (his words not mine!) and that he'd always advise someone to do cap 2, that fae wont be a big step up after CAP 2. On the other hand they have a high fail rate though.

collegeme

EveT wrote: »

hi Bhur,

was talking to one of the cap 2/fae lecturers a few weeks ago who works in PWC, he'd be high enough up in institute I think and he said in his opinion people coming from masters are at a disadvantage for FAE, it is their first set of professional exams and also said that people coming from CAP 2 are more current than masters (his words not mine!) and that he'd always advise someone to do cap 2, that fae wont be a big step up after CAP 2. On the other hand they have a high fail rate though.

That makes sense.
Also in college the lecturer sets & marks the exams...big advantage but won't properly prepare you for FAE.
I was exempt from CAP1 and doing CAP2 now..i feel will be a huge advantage to me for FAE (next year ..finger crossed)

bhur

Whats the FAE fail rate like anyway? I suppose if you came out with a masters and worked hard enough you'd be fine?

BESman

Not to be scare mongering but I've known two people that started with masters and went into doing FAE's first time and failed. The step up to professional exams, even from a masters, is often too big for some people. Its similar to those coming in to do CAP 2's first time having exemptions from CAP 1. In my opinion, people that come from CAP 1 tend to perform better at CAP 2 (I don't have statistics, just from observation) as they have experience of the work involved for professional exams and do not under estimate the work required for CAP 2.

Obviously this will vary from person to person and if you work hard there is no reason why you can't pass FAE first time! Best of luck with whatever you decide to do.

Rickyroma

Pass rate for FAE Core last year was 75% (from recollection).

Empirical evidence in my department last year would suggest Masters students are disadvantaged in comparison those who sat CAP2s.

The step up from Masters to FAE is significant and should not be overlooked. Nor should the amount of work involved in a Masters be underestimated.

However, given the choice, I would still favour doing a Masters over sitting CAP 2s. CAP 2s are very, very challanging and many students find them extremely stressful.

One key point will be how hard you work during the Masters. If treated as a additional year of college, just scraping through the exams, you will find FAEs a huge undertaking.

Either way, the FAEs are passable if the process is taken seriously for the year. I think the FAE delivery and support offered by the CAI has vastly improved and is continuing to do so.

KingEnda

I would agree based on people here at work that going into the FAEs having completed the Masters is a massive help but CAP 2 seems to be a better avenue to go
Although with the new FAE it may not be as obvious. From what I hear no one has a clue what is going on there. I am at CAP 2 and finding it a challange (to say the least)

skmck

I did my masters & Im glad I did it - it was great experience doing a thesis & I was exempt from CAP 2's which was an added bonus which meant I only had the FAE's to do.
People had told me that I shudnt do masters & then others said do the masters as some people believe the CAP2's are actually harder than the FAE's.
I did the FAE's last year ie. the new structure & I didnt feel lik I was at a disadvantage to those who done the CAP2's. If you concentrate on the material that you receive at revision days & the books you receive - you'll be fine!
Im glad I done my masters as it is always a good talking point in interviews - interviewers do be interested in my thesis & view the masters as an added bonus as a qualification!
Good luck whatever you decide to do!

Vivagora

Up to you yourself really and your preferences.
If you do Masters it often involves a thesis unless you go Smurfit route which do a two week summer course instead of thesis.
I did Masters and really wouldnt go back there but at the same time its another year in college which requires motivation and is easier to pass exams plus you will get experience of extra subjects which is useful when you start working.
I would not recomment UCD/Smurfit it is seen as paying for your course as it is the highest fees (just under 12,000!). NUIG is seen as a tougher masters than other colleges but the smallest class size at 29/30 compares to 200 people in other colleges. Maynooth is meant to be pretty good. I wouldnt go near AIT or LIT

Vivagora

Plus Masters students get sponsored around 3,000/4,000 to do the masters which if you are wise enough can be used to have a great holiday after thesis like I did! And Masters do get paid an extra 1,000/1,500 if you are with Big 4 so it really is a no brainer!