go into CPA or LAW - in a lot of debt already?
i already have a BS in accounting, and after 4.5 years of school (that i payed for by myself) i have debt nearing $50,000. I want to live comfortably, not worrying about student loan debt, and i'm having trouble considering if i want to go and get my CPA, or go to law school for 2 years. Either way, i assume i'll be at least 60K in debt, with a maximum of nearly 80K in debt.
I'm interested in both fields, but I would rather pursue the field that would let me live comfortably with the debt I will be taking on.. or should i just get a regular accounting job now and work my way up that way??
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You obviously have not looked into law school yet. 3 years in a mediocre law school is going to cost you around $80,000. Most I have looked at run around $900 a credit hour.
With a BS in accounting you should be able to find a job in a public accounting firm. Granted the money (and the hours) won't be great, but many of them offer tuition plans & reimbursement. So while gaining your auditing hours for your CPA you can also pick up the remaining accounting courses you need too.
Good luck to you!
Depends on so many things. Having a job that you are happy to go to work each day is worth so much more than money. So do some soul-searching and try to determine where your main interest is.
I asked myself the same question a few years ago, and went for the accounting degree. I got good grades, made the Dean's Honor Roll, etc. But was not able to get a job with a public firm. I've been fortunate to find a job that I really enjoy, and my accounting degree benefits me, but is not required for my job. In hindsight, I wish I had gone for the law degree. An old friend of mine had a law degree, worked as a county attorney for a few years, decided that he hated it and went back to get a medical degree.
If you can get on with a public firm, you will probably work your way up into pretty good money pretty fast. Assuming that you are a good employee. With a law degree, you will probably start out at about the same pay as starting in a public firm.
You should definitely go ahead and sit for the CPA now since you just got out of school and the material is still fresh in your head. You can always go to law school later but at least you can get your CPA out of the way and start making some $$. If you don't already have accounting experience you should start ASAP. Experience counts for a lot in accounting. I'm finishing my accounting degree too but have about 5 years of experience already and it's really helped me get a good job.
Well seeing that you are into C.P.A. then you should know that if you join a federal credit union they can really help you ! No really , you see I myself got into heavy debt and MAN ! I was worried but then my friend told me what I'm telling you now . You see a Federal Credit Union is Federally Funded so they are there to make money rather to help you save money , you see they will take all of the debt you have combined them together at a smaller percentage I owed approx. 50-60 thousand with them at 3.8 % percent believe me I took it . a And I payed it off faster that way because they talked with my bill collectors and they got rid of all of the interest and that made it that I only owed approx $ 30,000 that's why I say you should look into this it can't hurt ? Good Luck !
You could work in a lot of different areas with either degree. It might come down to which program interests you more.
I know your pain...intimately! :)
Good luck.