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Don't have the stats, but I wouldn't think that many w/ a purely audit background would apply for MBA. The logic is pretty straightforward: Anyone who has a purely audit background will have been required to become CPA Eligible before they began their audit career. Most of those who became CPA Eligible will have done so by earning a masters in accounting; the rest will have taken many advanced accounting hours. Thus, those who have a purely audit background, will have already spent the time and money on an extra year of graduate business education. That all being said, I don't think that it would hurt you to apply because you have audit background. Many who take the audit route do so in part because they are led to believe by their accounting professors and by B4 recruiters/recruiting partners that audit will open any door in the business world and that you can do anything with audit experience, which makes it worth it to do 5 year masters plan even if they don't stay in audit. Ultimately, this is not true--it's just a myth that serves the HR strategies of the firms. Sure, audit experience is helpful for many accounting and internal audit/internal controls roles. Good luck!
Thank you for the insight! The mba would be used as a pivot to a career switch. Definitely can relate to the myths now in hindsight. Thanks so much :)
I’d say it’s not likely not because they’re not qualified but moreso because it’s far more likely these people are licensed CPAs who can get better ROI at that point by switching to advisory/consulting & climbing that ladder or jumping to corp dev/FP&A or something. Rather than spending the money & time on the degree to end up at the same total comp.
Agreed. Average post MBA salary from most m7 is around 165k base. I switched to FDD as a Manager and my base is 140k. In two years i fully expect to be close to 165k, going to b school and losing two years of salary would not be a good move
Not common because of auditors don’t generally need an MBA to keep progressing in their careers even to a very higher up level. It’s definitely doable tho for auditors to get an M7 MBA, my senior just got offers from Wharton and Harvard - obviously with stellar GMAT and recommendations from partners she worked with
Yes. I know 2 people. They got into Harvard and MIT.
Yes. My SM got into Kellog
That’s GRRReat!!!
Why can't the firms just drop the CPA Eligibility requirement and establish a program like so many other industries have e.g. i-banking, consulting, etc., where you just need an undergrad degree and do a 2-3 yr stint at which point you can make an informed decision about how to proceed w/ career or education. This would avoid the number of people who get a specialized masters degree and end up like the OP. It's not necessary to have advanced education to be an auditor, especially at the associate and senior levels, which is the point where the vast majority leave.
Will be trying to do the same come the fall!
All the best! :)
Yep. One got into Booth and one got into Duke
Got my M7 MBA a very long time ago, but we had several Former auditors in my section and class.
??? May not be understanding the question but these people were already CPAs at Big 6. Yes, this was a while ago.