Ditching HYP for accounting

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a HYP grad, I wouldn't let my kids attend if they are just going to get a major in econ to go into business. I succeeded very well and ended up in PE. It was single-handedly the worst mistake me and many of my friends made, even if we were paid handsome sums. I would've preferred going into accounting and living a happy life.

??

I'm not sure why it's no acceptable to you for HYP students to major in economics and ultimately go into business?
Because you did and regret going into PE??

Nothing wrong with studying economics @ HYP. It by no means precludes a happy life.

Some parents here are lawyers and would never let their kids touch a law degree. They get it.

It's just not a healthy career option and is a degrading field for women in my personal opinion.

But the reference was to the economics major, not a career. PP said they wouldn't let a student major in Econ at HYP.

One can pursue many other careers than PE with an Econ major. PP's career may have been a poor fit for them, but to conclude that studying Econ at HYP is therefore a "bad choice" is faulty logic.

Let’s get real. A significant sum of the HYP students are using that Econ degree to go into IB, PE, or consulting. You don’t do Econ at an Ivy to go into a marketing position lmao.

A significant number of HYP grads are using that HYP degree to go into IB, PE, or consulting. That doesn't mean your child should be prevented from a trending HYP altogether. Similarly, PPs child shouldn't be prevented from majoring in economics.

[Anonymous]

Anonymous wrote:There are plenty of jobs in accounting. The first three years at Big 4 accounting firms (usually in audit/assurance) is not pleasant, but opportunities open up after 3 years to switch practice areas (such as M&A or International or special industry consulting).

CPA licensing requires 5 years of college (150 semester credit hours). Most get a BS or BA degree after 4 years, then earn a one year masters degree in accounting or taxation in order to have enough hours to qualify for the process to become a licensed CPA.

Not many CPAs go to law school. Much different psychological mindset. Accounting & finance are a better match than accounting & law. Tax attorneys do not need even a single accounting courses beyond "accounting for lawyers" in order to do well.

Accounting & data analytics or data science is a more natural and more in-demand combination than is accounting & law.

OP: For one interested in math, I suggest accounting and data science.

Econ, math, & physics are great majors at HYP for investment banking or consulting positions.

Accounting is a major that requires a lot of work. The best accounting schools are not elite colleges/universities; they are schools such as the University of Illinois, University of Texas, Villanova, or any school with an accredited business & accounting program.

How about the lawyers prosecuting and defending sophisticated accounting fraud cases?

[Anonymous]

Anonymous wrote:

Anonymous wrote:There are plenty of jobs in accounting. The first three years at Big 4 accounting firms (usually in audit/assurance) is not pleasant, but opportunities open up after 3 years to switch practice areas (such as M&A or International or special industry consulting).

CPA licensing requires 5 years of college (150 semester credit hours). Most get a BS or BA degree after 4 years, then earn a one year masters degree in accounting or taxation in order to have enough hours to qualify for the process to become a licensed CPA.

Not many CPAs go to law school. Much different psychological mindset. Accounting & finance are a better match than accounting & law. Tax attorneys do not need even a single accounting courses beyond "accounting for lawyers" in order to do well.

Accounting & data analytics or data science is a more natural and more in-demand combination than is accounting & law.

OP: For one interested in math, I suggest accounting and data science.

Econ, math, & physics are great majors at HYP for investment banking or consulting positions.

Accounting is a major that requires a lot of work. The best accounting schools are not elite colleges/universities; they are schools such as the University of Illinois, University of Texas, Villanova, or any school with an accredited business & accounting program.

How about the lawyers prosecuting and defending sophisticated accounting fraud cases?

They use expert witnesses in forensic accounting.

[Anonymous]

Anonymous wrote:There are plenty of jobs in accounting. The first three years at Big 4 accounting firms (usually in audit/assurance) is not pleasant, but opportunities open up after 3 years to switch practice areas (such as M&A or International or special industry consulting).

CPA licensing requires 5 years of college (150 semester credit hours). Most get a BS or BA degree after 4 years, then earn a one year masters degree in accounting or taxation in order to have enough hours to qualify for the process to become a licensed CPA.

Not many CPAs go to law school. Much different psychological mindset. Accounting & finance are a better match than accounting & law. Tax attorneys do not need even a single accounting courses beyond "accounting for lawyers" in order to do well.

Accounting & data analytics or data science is a more natural and more in-demand combination than is accounting & law.

OP: For one interested in math, I suggest accounting and data science.

Econ, math, & physics are great majors at HYP for investment banking or consulting positions.

Accounting is a major that requires a lot of work. The best accounting schools are not elite colleges/universities; they are schools such as the University of Illinois, University of Texas, Villanova, or any school with an accredited business & accounting program.

Not OP, but I appreciate all of this information regarding accounting as my son is an accountant major.

[Anonymous]

Anonymous wrote:

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.

Very few U of C MBAs can't achieve $250k (first year out average alone is approching $200k) ... you just got a bad draw.