I’ve taken my GMAT already, and I’m in the process of applying to several Universities for the MBA program. The question is how do I make the transition from my current IT field under which I’m bored out of my mind and go in to the field of finance/accounting. Obviously I would need education background to make such a transition. Is my only option to just finish the MBA program then make the jump after 2-3 years?
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December 5th, 2009 at 2:15 am
First you’ll need to decide whether it’s finance OR accounting you want to do. It’s not at all the same. Accounting takes a completely different set of courses, credentials, and diverges into its own world. Finance is the same way, and becomes a lot more specialized (i.e. Corporate finance, derivates/options/investments, quant-fin, modeling, etc). Most people who do not hold an undergrad degree in the area will double/joint major with an MS in these areas because an MBA often does not give you enough specialized courses to make you marketable enough to transition. MBA is primarily about general managerial skills, which works best continuing in the track you currently are. MS degree will give you the option of taking a huge dose of courses to make yourself ready for a specialized track. By joint majoring you can reduce time and money by having some of the credit load shared.
December 5th, 2009 at 3:04 am
Ric, I am currently in an MBA program and to answer your question, No you do not have to wait 2 o 3 years after the MBA. Most MBA programs will provide you with a core curriculum which should include a good foundational course in finance and accounting. Usually these courses give you a solid understanding in which more advanced courses are built upon. I would recommend yes finish the MBA, take accounting or finance electives, which ever you are leaning towards most. With the MBA and electives in your interest field, you should be able to land an entry level to mid-career position. However, you must realize that with any field most of your skills will not come from the MBA or the MS in finance or accounting but experience, so with no experience you may have to start with any entry level position, but at least the MBA will get you into the door.