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Deciding between Masters in IT or Masters in Accounting in terms of job prospects.

darkm

My Bachelors is in Criminal Justice, but i'm working in something totally unrelated to that and would like to change careers.

I have a choice - MS in Information Technology vs MS in Accounting

If I go for MSIT it would take me 2.5 years (prerequisites included) to complete. Cost at around 28k

My concentration would be Database or System Administration.

Can I possibly get an entry level job with no experience in IT? I can of course allocate roughly 5 elective classes to learning specific things to set me apart. And I dont mind investing and learning for a few years (getting certifications). But I am wary of going into this thinking I wont be able to get a job for a long time after I graduate.

If I go for MACc It would take me 2.5 years to finish (cost me 37k) to get a perhaps entry level job at around 38-40k with no experience

But to get a CPA designation (and make over 50k/year) i would need another masters in Business to have the Florida requirements, then take the tests etc. that would mean 5 years of school and over 70k in student loan, and hassles of the infamous CPA test.

I would probably enjoy IT more but I have to be practical. Can I get a job in IT with a masters in one of those concentrations and perhaps some certifications?

any feedback is appreciated

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Comments

GoodBishop

Do a job you enjoy. I have worked in both a accounting firm as well as IT departments, and I have seen many unhappy accountants, as well as many unhappy IT people.

It's not worth it to do a job you don't enjoy.

I'm thinking if you get a MSIT, as well as a few certs, such as CCNA or MCITP, you should be fine.

Polynomial

Silly question, but what do you think your gut feeling is about career end game goals?

darkm

end game would be an easy workday with a decent payday after 4-5 years of hard work learning/studying. Working from home would be a plus, having my own company is not necessary.

I enjoy working by myself and am self motivated, some general directions and goals and I should get there eventually.

ptilsen

You would make more in IT without the master's and with a couple of certifications than you apparently would getting the accounting master's.

If IT is what you would prefer, it seems like a no-brainer. Becoming a CPA doesn't seem like it will get nearly the payoff for how much work it is. You probably won't make the same in an entry-level IT position, but after a couple years and some certs, you'll easily pass the $50K mark. It's not that hard to get to $100K in less than ten years, either. Overall, it's a great field to be in if you work for it and I can't imagine picking accounting over IT unless accounting is your passion.

darkm

ptilsen wrote: »

You would make more in IT without the master's and with a couple of certifications than you apparently would getting the accounting master's.

If IT is what you would prefer, it seems like a no-brainer. Becoming a CPA doesn't seem like it will get nearly the payoff for how much work it is. You probably won't make the same in an entry-level IT position, but after a couple years and some certs, you'll easily pass the $50K mark. It's not that hard to get to $100K in less than ten years, either. Overall, it's a great field to be in if you work for it and I can't imagine picking accounting over IT unless accounting is your passion.

I see what you're saying.

However after finishing 2.5 years of school in accounting I have a decent chance of getting a 35-45k job as entry level accountant with no experience.

Would I have a decent shot of getting a decent job in IT with no experience after finishing a Masters In IT with Database or System Admin concentration? - of course id try for a CCNA certification or something before applying for anything

I appreciate the feedback

ptilsen

I made about $32,000 a year in an entry level tech support job with an A+ certification and a high school diploma seven years ago. I don't know how much the master's would add to your starting salary, but with it and certifications, you'd definitely be able to land a job and definitely in the $30K to $50K range, depending on a lot of factors (certifications, actual demonstrable skill/knowledge, job market, luck, etc.). If anything, you could get certifications now and start looking. Granted, if you're in the position to go to school full-time I would recommend it, but there's no reason you need an IT degree to get an IT job. Long-term, the master's degree will definitely open doors, but it's important to understand that IT has no hard qualifications in the same vein as CPA. Degrees and certifications are not requirements; they're qualifiers and resume-boosters.

Some cursory Googling shows IT and accounting to have similarly low unemployment rates. That being said, I would few IT as a more stable long-term job. It is growing, not going away, while accounting positions are more likely to be eliminated thanks to software automating much of the work. That's not to say it's about to disappear, but I can't come up with a good reason to view it as having better employment prospects than IT. At best, it's about the same with less long-term income potential.

Polynomial

darkm wrote: »

However after finishing 2.5 years of school in accounting I have a decent chance of getting a 35-45k job as entry level accountant with no experience.

I'm already past that with my first IT job with a BS in Math.

Accounting and IT are so different. They can definitely intertwine at the management level with budgeting and finance but we can't tell you what you should do, its about what you think you want to do.

QHalo

If you're going to get a business related degree, I would go with an MBA. Way more versatile.

darkm

Answers are appreciated.

what about outsourcing in the IT fields. As a masters what would you pick to study between concentration in either

Application development
Database
System Admin

for the job market in 3-4 years.

it's a big career choice for me so talking with you guys in the field with experience is interesting

ptilsen

I don't see how an MBA relates, to be honest. It doesn't get him an accounting job (MBA != CPA), and it doesn't get him an IT job. MBA can be a nice call to transition into IT management, but fresh no-experience MBA grads don't walk into IT positions, they walk into entry-level management positions. It's something to consider for down the road, but if OP is looking to get into IT or accounting within 3 years, I don't see MBA as logical.

darkm

QHalo wrote: »

If you're going to get a business related degree, I would go with an MBA. Way more versatile.

mba's unless it's from a top business school dont mean that much nowadays - a specialization such as accounting etc is needed for decent job placement right out of school

Edit: i will eventually get an mba if going cpa route, but honestly I dont think I would enjoy management too much

ptilsen

Outsourcing can happen in accounting, too.

Concentration should be what you're interested in. Networking is very different from application development.

Are you dead-set on a particular college and one of these two degrees for some reason? For someone choosing between two very different career paths, you seem to have an awfully specific idea of what you'll do in each.

darkm

to a certain extent yes I am dead set on a particular college, I have my financial aid and registration done and i'm all set to go, just have to register for classes for whatever major I pick

it's just deciding on specifically what i'm gonna do to sign up for classes, I already eliminated 8 or 9 career choices and accounting/IT is what's left. If I go to accounting most roads lead to the CPA eventually. if I take MSIT those three concentrations are my choices

ptilsen

Well, I will say I'm pretty skeptical of an MSIT in application development. Application development is generally a component of computer science, and it requires extensive undergrad work to even get into most Computer Science or Software Engineering MS programs. Graduate-level programming doesn't come without a lot of base knowledge. I would be curious to see more about it. The other specializations don't surprise me.

As far as IT vs. CPA, I don't really see it as a comparison at this point. I make more money than most CPAs and all have is an AAS and a few mid/low-level certifications. Even if I'm on the far right of the bell curve, it still demonstrates the big gap in career prospects. Bottom line, if you're into it and you work towards it, I don't see how you wouldn't make more money or have a hard time getting an IT job. Never mind the much greater career mobility and variety in IT -- you might start out at a crappy help desk job like most of us do, but you can be a high-level network or systems admin/engineer after a few years, and get to do a ton of different things. Accounting seems kind of boring by comparison, but I'm definitely biased.

JustFred

The thing is, you always need to ask yourself, how would this benefit me and i am still going to be happy doing this a few years down the road or is it a step towards a greater goal? Its a commitment

QHalo

ptilsen wrote: »

I don't see how an MBA relates, to be honest. It doesn't get him an accounting job (MBA != CPA), and it doesn't get him an IT job. MBA can be a nice call to transition into IT management, but fresh no-experience MBA grads don't walk into IT positions, they walk into entry-level management positions. It's something to consider for down the road, but if OP is looking to get into IT or accounting within 3 years, I don't see MBA as logical.

Actually it can. Again, like I said an MBA is way more versatile if the OP is dead set on getting a master's degree right now instead of doing some entry-level certs.

Amazing schools that offer MBA's with Accounting concentrations.

MBA Program in Accounting | Kellogg School of Management | Northwestern University
MBA - Accounting Concentration: Loyola University Chicago
Professional Accounting MBA Program | Rutgers Business School
Accounting | The University of Chicago Booth School of Business

RoyalRaven

We have a local university that has a very evolved MAC program. From what I'm finding, most of them become auditors, specifically understanding everything from the financial side. I would recommend ISACA (and specifically a local chapter) as a very good resource if you want to know more about that potential direction. The folks there could give you a great sense of what that degree can do for you. I think half of the people who attend our chapter meetings have a background in that area. They also tend to gravitate to the big 4, but every company needs that kind of skill set in their roster.

I say if you enjoy accounting, go for the MAC. I don't see the MS of IT being nearly as important for db/sysadmin work (interesting, but not as important). Either way, if you're set up in a way to succeed in your educational goals (and think you can complete the MS degree, regardless of concentration), go for it. It will always be something you will have accomplished and it doesn't expire like certs do. Certs come and go. Degrees stick