Masters in Accounting

Gael23

I'm considering applying for the Accounting masters in DCU for nest year. I'm just trying to find out the benefits of doing it versus going straight into a training contract. Is the only benefit that you get exempt from CAP2 exams? If that's tht case I don't think I could justify paying €8k only so as I don't have to sit exams.

TG860

ryanf1 wrote: »

I'm considering applying for the Accounting masters in DCU for nest year. I'm just trying to find out the benefits of doing it versus going straight into a training contract. Is the only benefit that you get exempt from CAP2 exams? If that's tht case I don't think I could justify paying €8k only so as I don't have to sit exams.

Pretty much yes.
Most people would hope to get an accounting firm to sponsor you to do the masters, which would cover most/all of the cost of doing it.

If you're looking at going into tax, I believe it gives some additional exemptions which you won't get elsewhere.

I would recommend giving Marann Byrne a call about it. She's a straight talker who will explain best the pros and cons of doing it.

Gael23

TG860 wrote: »

I would recommend giving Marann Byrne a call about it. She's a straight talker who will explain best the pros and cons of doing it.

Who is she?
I have already contacted Martin Quinn but only to find out about entry requirements

AtticusFinch86

Why not do it somewhere else? That way you may be able to get the SUSI grant to cover it. I know they have an excellent Masters in Accounting programme in Letterkenny and if you're eligible for the grant it should cover the total cost of it. You get CAP 1 and CAP 2 exemptions if I remember rightly, as well as full ACCA exemptions up to the final professional exams

TG860

ryanf1 wrote: »

Who is she?
I have already contacted Martin Quinn but only to find out about entry requirements

She would usually be the person to talk to about it at careers fairs.
We were directed towards her for questions about it too at DCU (I'm an undergrad).

Gael23

AtticusFinch86 wrote: »

Why not do it somewhere else? That way you may be able to get the SUSI grant to cover it. I know they have an excellent Masters in Accounting programme in Letterkenny and if you're eligible for the grant it should cover the total cost of it. You get CAP 1 and CAP 2 exemptions if I remember rightly, as well as full ACCA exemptions up to the final professional exams

I don't qualify for the SUSI grant for my undergrad so I doubt I would get that. Some places that offer it are too far away from home for me. I know AIT do a good one but it would be a 5 hour journey for me and Letterkenny would be even more than that.

jonnybravo

Another advantage is that it shortens your training contract by 6 months.

TG860

jonnybravo wrote: »

Another advantage is that it shortens your training contract by 6 months.

No, it actually extends it by 6 months as you need to have 3 years work experience in addition to getting all the exams done to become chartered.
So it's 3.5 years rather than 3 by direct entry.
Obviously, the benefit is it's not as stressful.

Gael23

TG860 wrote: »

No, it actually extends it by 6 months as you need to have 3 years work experience in addition to getting all the exams done to become chartered.
So it's 3.5 years rather than 3 by direct entry.
Obviously, the benefit is it's not as stressful.

I thought that if you went in direct your contract was 3.5 years and 3 if you did the masters, I could be wrong on that.
I'll most likely end up with a 2:2 in my undergrad so my thinking is if i do this it might help me secure a contract.

April O Neill

ryanf1 wrote: »

I thought that if you went in direct your contract was 3.5 years and 3 if you did the masters, I could be wrong on that.
I'll most likely end up with a 2:2 in my undergrad so my thinking is if i do this it might help me secure a contract.

The problem is when you're applying next year, you'll have no results to report for your Masters at that stage, so will still just have the 2.2 degree result on your CV. It's a lot of money for such a gamble.

Have you got any interviews in this milkround? A girl from my class with a 2.2 has got one with Mazars.

Gael23

April O Neill wrote: »

The problem is when you're applying next year, you'll have no results to report for your Masters at that stage, so will still just have the 2.2 degree result on your CV. It's a lot of money for such a gamble.

Have you got any interviews in this milkround? A girl from my class with a 2.2 has got one with Mazars.

I didn't apply to many of the big firms because of my grades buthaven't heard from any of the ones I did apply to yet.
It is alot of money so before I do it I would need to know that it will be of benefit to me. Could you say in an application that your expected grade is whatever? After all, I would assume having CAP2 exemptions would make you more attractive

Freddo123

It's worth mentioning the entry requirements for the Masters in DCU. I believe (but could be wrong) that you need a 2.1 with full Cap 1 exemptions. The one in DIT is a 2.2 degree requirement though.

Also, having a 2.2 isn't the end of the world! A lot of the smaller accounting firms will begin recruitment after Christmas. There are many that accept a 2.2 degree. Keep an eye on the Chartered website for the 2014 intake. I know many who had a 2.2 (some with a pass) at the time of their interviews and got a contact in smaller firms.

April O Neill

ryanf1 wrote: »

Could you say in an application that your expected grade is whatever?

You could but the milkround deadlines come only a few weeks into the course. On what would you be basing the expected grade?

Gael23

Freddo123 wrote: »

It's worth mentioning the entry requirements for the Masters in DCU. I believe (but could be wrong) that you need a 2.1 with full Cap 1 exemptions. The one in DIT is a 2.2 degree requirement though.

Also, having a 2.2 isn't the end of the world! A lot of the smaller accounting firms will begin recruitment after Christmas. There are many that accept a 2.2 degree. Keep an eye on the Chartered website for the 2014 intake. I know many who had a 2.2 (some with a pass) at the time of their interviews and got a contact in smaller firms.

I have already contacted the course director about that. You do need CAP 1 exemptions but in relation to the 2:2 he told me that if I get a 2:1 average in 4th year, I could be considered despite the fact I wont graduate with a 2:1 degree.
I know your right about smaller firms and that is definately something I need to consider but I don't know if I would enjoy working in practice with 1 or 2 partners ans just a handful of staff as i'm not sure how good of an experience that would be.

April O Neill wrote: »

You could but the milkround deadlines come only a few weeks into the course. On what would you be basing the expected grade?

I nver thought of it that way. I suppose i need to find out how successful any previous graduates without a 2:1 were in the milkround. As far as I know some firms give offers conditional on your degree so maybe thaat mmight apply

Freddo123

ryanf1 wrote: »

I have already contacted the course director about that. You do need CAP 1 exemptions but in relation to the 2:2 he told me that if I get a 2:1 average in 4th year, I could be considered despite the fact I wont graduate with a 2:1 degree.
I know your right about smaller firms and that is definately something I need to consider but I don't know if I would enjoy working in practice with 1 or 2 partners ans just a handful of staff as i'm not sure how good of an experience that would be.

Obviously having one of the Big 4 on your CV will look incredible but you will gain just as good experience in a smaller firm. Don't rule them out! Smaller firms is where most of my group got jobs from in last years intake. One 3/4 got jobs in the Top 10 firms. (2 in a Big 4 firm) and that is out of roughly 60 odd people.


Also, on the 2.1, I didn't know that! That's a good bonus to picking DCU.

Gael23

With the 2:1 i would say that is subject to conditions. In other places thers a non negotiable cut off with it though

thomlin

Hi All,

just like to point out one thing even if you do the Masters and are hoping to get into one of the big 4 or top ten they will expect a minimum 2.1 result.

Also having a 2.1 final may not necessarily swing it for you either as I've heard that they review all your results for the full duration of your degree as a way of reducing numbers for interviews etc.

Even though a masters is just one more year it's not an easy ride for anyone make sure that it's something you really want to do.

On a final note if you decide to do ACCA/CIMA/CPA then a masters is of no benefit to you when it comes to exemptions.

HTH

Tom

Gael23

thomlin wrote: »

Hi All,

just like to point out one thing even if you do the Masters and are hoping to get into one of the big 4 or top ten they will expect a minimum 2.1 result.

Also having a 2.1 final may not necessarily swing it for you either as I've heard that they review all your results for the full duration of your degree as a way of reducing numbers for interviews etc.

Even though a masters is just one more year it's not an easy ride for anyone make sure that it's something you really want to do.

On a final note if you decide to do ACCA/CIMA/CPA then a masters is of no benefit to you when it comes to exemptions.

HTH

Tom

I know it's only a benefit for ACA exams. At the moment my thinking is that if they see I have done better in the masters and have cap2 exemptions I might have a netter chance next year.
One thing may be a problem is that this time next year I won't have any exams done for a masters if I do one so will only have my undergrad results on the application which for me will unlikely be a 2:1 , don't know how that will look?

thomlin

Hi ryanf1,

The choice is yours to make at the end of the day the only other advice I will offer is are you doing the Master's to get into the big four or are you doing it for yourself.

If you take a year out and study for the masters in the hope of getting a big 4 job and nothing materializes can you be happy with that outcome or are you just wanting to learn the ropes to being a successful accountant.

Remember you can work for a big 4 firm doesn't mean you'll be happy or successful because you're working there.

Best of luck whatever decision you make.

Tom

Gael23

thomlin wrote: »

Hi ryanf1,

The choice is yours to make at the end of the day the only other advice I will offer is are you doing the Master's to get into the big four or are you doing it for yourself.

If you take a year out and study for the masters in the hope of getting a big 4 job and nothing materializes can you be happy with that outcome or are you just wanting to learn the ropes to being a successful accountant.

Remember you can work for a big 4 firm doesn't mean you'll be happy or successful because you're working there.

Best of luck whatever decision you make.

Tom

Thanks again Tom,
My reason for thinking about it is that since I have started looking at grad programs over the last few weeks I have realised that in Accounting you dont go too far without a 2:1 degree.
For me, that is not achievable the way things stand at the moment so it got me thinking that to get off to a successful start in my career I need to look at postgraduate study.
I would like to have the opportunity to work in a mid tier firm at least. Maybe the likes of Mazars or GT etc but I wouldn't be pinning all my dreams on the Big4 although it would be nice! I'm just not sure fi workinng in a small firm with 1 or 2 partners is the best start to a career
I need to find out from colleges what else is in it apart from CAP2 exemptions because if thats it then €8k is alot for just that.

Thats my reason behind it anyway

Prettyblack

One option to consider: don't do the masters, enrol in the Elevation programme and do the first two CAP 2 exams (you could get a position in industry or a small firm while doing this), THEN start approaching GT and the like, as you would probably be more attractive to them with those exams done; they sign you up to a contract, and you do the rest of your CAP 2s and FAEs with them.