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Why I Am Pursuing an Mba Degree

Essay by   •  February 3, 2011  •  Essay  •  779 Words (4 Pages)  •  1,555 Views

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Why I am Pursuing an MBA Degree

I decided to pursue an MBA in order to further my career in accounting. I realize that’s a pretty boring answer, but it’s the truth. The next question is: Why do I think it will enhance my accounting career? The answer to that question requires a bit more background information.

I started my career in accounting in 1989, prior to receiving my bachelor’s degree. My career took a turn into management in 1997 when I was offered a branch manager’s position with the company I was working for. After 7 years in the management field I returned to college to complete my bachelor’s degree, with the idea of teaching high school math. Subsequently my degree is not in accounting, but in Interdisciplinary Studies because it presented the shortest path to a degree. After discovering that teaching was not what I wanted to do I had decided to return to accounting and found was that even though I had a solid background in accounting, I was not very marketable without a degree in accounting. After much research, I found no single opportunity can so dramatically alter my career path or earning potential like an MBA

The MBA is one of the most highly demanded advanced degrees in business today. Corporate demand for MBA’s has been on the rise in recent years and remains strong. According to the 2007 Corporate Recruiters Survey, conducted by the Graduate Management Admission Council, hiring companies plan to increase their numbers of new graduate business student hires by 18% (GMAC, 2007).

We can also look at the consumer side for indications of increased demand. Assuming the idea of rational thought, then consumers will tend to spend their money in the areas that will benefit them the most. If the MBA degree was not in demand then we would not see an increase in applications to business schools. However, the 2007 issue of the Application Trends Survey Report, published by the Graduate Management Admission Council, reports that application volume has risen about two-thirds for full-time, two-year, part-time, and executive programs (GMAC, 2007).

The University of Phoenix MBA program allows me to complete an advanced degree program with an emphasis in accounting. The accounting portion of the degree consists of 15 credit hours of advanced accounting classes, which when added to my existing undergraduate coarse work, completes the education requirement to sit for the CPA exam in Texas. In the field of accounting the CPA certificate has always been a credential in high demand, and that demand is reflected in higher salaries. According to the PayScale Salary Calculator the median salary range for accountants in Texas is $37,395 - $47,580, but the median salary range for CPA’s in Texas is $48,874 - $69,122, an increase of 30%- 45% (PayScale).

Although the CPA certificate has proven to be a lucrative credential, the MBA has proven to be an even more lucrative. The International Recruitment Survey and Salary Report 2007, conducted by QS TopMBA.com, reveals that MBA salaries across most major industry sectors have increased more rapidly than salaries for non-MBAs (Quacquarelli, 2008). The report confirms that the MBA is the highest

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