I am in the current mode of preparing myself for the GMAT's. While I am in preparation for entering business school I have been wrestling between an MBA and a MSA. As a Jewish son my mother has been adamant about me perusing my MSA and eventually getting my CPA. Her theory is that every company wants and needs a CPA and you can have the luxury of opening your own practice. On the other hand I am interested in venturing off into the Financial Services industry and see the MBA more practical for Finance. I dont want to do taxes, general ledgers, or auditing as a career. I would prefer to work for a large Asset Management firm or Investment Banking firm once I have completed my MBA. So I pose the question what is more valuable in terms of my wants and desires as opposed to my mothers? I am open to hearing both sides. Please someone help me formulate my opinions!
I don't think you are torn between an MSA and an MBA. I think you are torn between what you want to do vs. what your mother wants you to do. Your mother certainly has a point in that there is a perennial shortage of good accountants. However, you will have a hard time getting into finance with a degree in accounting. My finance has a BS in accounting and graduated in the top 5 percent of her class. She applied to Vanguard and Charles Schwab, and was not hired by either. They explicitly told her that while her credentials are promising, they are more interested in people with a finance background.
I think you should instead be considering whether you should get an MSF (masters of science in finance) vs. an MBA. An MSF is going to provide with a specialized, intensive training in finance. I have two friends who finished an MSF, and both are very happy with where they are now. An MSF provides with a lot of graduate level finance classes, and takes less time (1 year) than a traditional 2-year MBA. An MBA with a concentration in finance would provide with 4, maybe 5, finance classes. MSF would provide you with 10 to 12, depending on program intensity. An MBA would, on the other hand, provide with a wide variety of classes. Immediately upon graduation, an MSF would not provide with as much flexibility in pursuing a career. In other words, with an MBA, you would be able to move into a wider variety of industries; however, this is still dependent on your previous work experience. An MSF would grant you access to any planet within the finance galaxy. However, you would then have to stay in this industry for a few years before moving on to something else...AND chances are you would be moving into a position that has something to do with finance. No one is going to hire you for a position of a vice president of marketing and waste your credentials in finance. An MSA is more useful for people who want to initially move into either auditing and assurance services or tax services. After about 5 years, a number of people move out of public accounting and on to industry, but they are once again employed for their understanding of the financial structure and dynamics of an organization, not as FINANCE people. With an MSA you will NOT end up at an investment banking or asset management firm.
There are, of course, exceptions to everything I just said, so you would have to base your decision on your own profile.
