The Importance of Advanced Degrees

On Wednesday, November 29, Rob Chabot presented an interactive workshop on advanced degrees in accounting. Workshop topics included:

• The vast majority of states in the U.S. have passed a version of the 150 hour rule - and expectations are that ALL will do so within the next ten years.

• One does not need to earn a graduate degree in accounting to sit for the CPA exam in those states with the 150 hour rule, but it's much easier to meet the requirements with an advanced accounting degree.

• According to the AICPA, there is, on average, a 10% to 20% salary differential between those accountants with only undergraduate degrees versus those with graduate accounting degrees.

• Studies indicate this salary differential exists at the start and throughout one's career.

• The nature of accounting work has changed quite a bit during the past 10+ years - from being a purely technical field to one that incorporates much more advising/consulting for clients - in areas (e.g. finance, IS, etc.) that are greatly aided by deeper and more extensive (e.g. graduate) education.
  

You can read the full transcript of the workshop.