Ditching HYP for accounting

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I know a Psych major from Nescac who got hired at PWC, they helped her get her CPA. It's not mutually exclusive OP. She can and should go to HYP and also pursue accounting.

She IS raising good questions and the answer is HYP. An HYP econ or math grad can easily expect to start at $120k+, while even a new Deloite CPA will earn half of that.

I think neither of these statistics are accurate.

Agreed. I got a job offer at McKinsey out of HYPSM for 65K

Why do people say HYPSM or HYP? This board is anonymous. Just say where you went to school. Unless, you know, you didn't actually go to one of the above.

[Anonymous]

The only people readily making 6 figures out of undergrad are comp sci majors going to Google and Meta.

[Anonymous]

Anonymous wrote:The only people readily making 6 figures out of undergrad are comp sci majors going to Google and Meta.

...investment bankers exist, and there are much more of them than there are SWEs at FAANG.

[Anonymous]

Starting salary about 80k at our firm and goes to about 225k before you’re 30. Plus bonuses.

It’s a great job for working moms.

[Anonymous]

Anonymous wrote:My niece is an incoming freshman at HYP. Earlier today she told the family that she is seriously considering not going and pursuing an accounting degree instead!

We are all pretty shocked by this. She is definitely not joking. She said that she’s been weighing the cost of the degree vs the benefits and is not so sure it is worth it. She was planning to do econ and/or math.

The thing is the cost is fortunately not an issue for her parents. She got 50-60% in financial aid, the rest they are paying out of pocket. Not a small sum but it’s something my sister and BIL have planned for and saved for. Plus my niece is an only child.

The thing is she has always been a pretty serious and responsible kid so we are struggling what to make of this. I personally feel she is getting cold feet. We don’t want her to throw away this opportunity that she is so lucky to have. Or are we the crazy ones? She is seeing some of her friends taking more practical/trade routes so perhaps that’s part of it. And I am sure the whole discussion about the rising cost of college vs benefits has impacted her and her peers.

She should go to HYP, then get a law degree and an accounting degree. Having a HYP bachelor’s, a law degree and a CPA credential all at the same time should make her pretty well off.

[Anonymous]

Anonymous wrote:Starting salary about 80k at our firm and goes to about 225k before you’re 30. Plus bonuses.

It’s a great job for working moms.

Exactly- I am a cpa that went to a state flagship school. I have switched jobs 5 times in my 25 years of working. Accounting is a great field for working moms. I have a nice salary and benefits ( over $250K). CPAs always have employment opportunities. My MBA spouse ( university of Chicago grad) has never had the same work opportunities as me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The only people readily making 6 figures out of undergrad are comp sci majors going to Google and Meta.

...investment bankers exist, and there are much more of them than there are SWEs at FAANG.

There’s not that many investment bankers out there, let alone women who are investment bankers…

[Anonymous]

Yes go to Penn Wharton or MIT

[Anonymous]

Everybody is approaching this from the job and income perspective. But what about the general personal development and enrichment opportunities she would get by attending HYP?

We toured Yale earlier this year with my rising senior, and I was shocked at the things these kids have access to. In one week, there were talks/teas with a Head of State, Ben bernanke, and some big shot from Blackstone (forget the name)!

[Anonymous]

Anonymous wrote:Everybody is approaching this from the job and income perspective. But what about the general personal development and enrichment opportunities she would get by attending HYP?

We toured Yale earlier this year with my rising senior, and I was shocked at the things these kids have access to. In one week, there were talks/teas with a Head of State, Ben bernanke, and some big shot from Blackstone (forget the name)!

Yale has high suicide rate and it's retention rate is terrible.
Only 90%
https://www.usnews.com/best-colleges/rankings/national-universities/freshmen-least-most-likely-return

You'll have higher risk in terms of the general personal development and enrichment opportunities.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Everybody is approaching this from the job and income perspective. But what about the general personal development and enrichment opportunities she would get by attending HYP?

We toured Yale earlier this year with my rising senior, and I was shocked at the things these kids have access to. In one week, there were talks/teas with a Head of State, Ben bernanke, and some big shot from Blackstone (forget the name)!

Yale has high suicide rate and it's retention rate is terrible.
Only 90%
https://www.usnews.com/best-colleges/rankings/national-universities/freshmen-least-most-likely-return

You'll have higher risk in terms of the general personal development and enrichment opportunities.

Jock sniffing for the pretentious.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Everybody is approaching this from the job and income perspective. But what about the general personal development and enrichment opportunities she would get by attending HYP?

We toured Yale earlier this year with my rising senior, and I was shocked at the things these kids have access to. In one week, there were talks/teas with a Head of State, Ben bernanke, and some big shot from Blackstone (forget the name)!

Yale has high suicide rate and it's retention rate is terrible.
Only 90%
https://www.usnews.com/best-colleges/rankings/national-universities/freshmen-least-most-likely-return

You'll have higher risk in terms of the general personal development and enrichment opportunities.

More on that data:
The retention rates shown below, from highest to lowest, are the average proportion of first-year entering students starting in fall 2018 through fall 2021 who returned to school the following fall.


Hmm. What else was going on during this time.

[Anonymous]

Yale has really high retention rates

[Anonymous]

The plus is that she is thinking longer term.

I am not sure the ROI from an Accounting degree is very high — for a typical/median accounting degree holder. Accounting is a field where the top earners will make a LOT more money than the median earners.

In any case, after an accounting degree, one will need to pass the CPA exam and later be fully qualified as a CPA to have a good career in accounting. Even in private accounting, most companies want their Controller to be a full fledged CPA.

[Anonymous]

I was recently speaking to a friend of mine who lives on Long Island and her husband has an accounting practice in Queens, NY. Over the past 25 years his accounting practice has done phenomenally well and they are worth upwards od $15 million. They do accounting for small businesses. This is an immigrant couple with no fancy degrees. Their kids attend great schools (top 15) and dad is convincing them to take over the accounting practice.