MSc in Strategic Business Management for an Accountant?

[Lostprophet]

Hi,

I need some advice please.

I am 31, turning 32. I have a BA in Accounting & Finance, and also I am a qualified accountant (ACMA).

I am a finance manager for a property company. There are no other finance staff here apart from the FD who is very high up.

I was wondering if it is worth me doing a masters to add value to my CV and career. Any advice on offer please...

Cheers,

LP.

[Countdown]

Hi - FCCA here.

If you're keen on studying further I'd rather go for an MBA rather than an MSc. Whether or not to study would depend on

How much spare time you have
What your family commitments are
Who is funding the study (if it's your firm I'd snap their hand off)

As you'll know from your CIMA - it takes a hell of a lot of time and commitment.

[Lostprophet]

Hi,

Well, I am funding the study. The MBA would be fab but I can not afford the costs right now. That will have to wait till a few years.

The MSc I can finance.

What do you think is the worth?

As you are a FCCA, what do you think?

[Countdown]

TBH once you've got a CCAB qualification the experience is far more useful than the qualification. Not saying the qualification wouldn't be helpful but at FD level I would be putting more emphasis on experience rather than qualifications.

OTOH if youve got the time and the money it can't do any harm. What kind of cost are you looking at?

[Lostprophet]

Well the course is 1 year long, its £2,600. It is all distance learning, and also the assessments are report based. It is only opened to qualified accountants... being run by Uni of Manchester metropolitan.

[Countdown]

£2.6k doesn't sound so bad. For that price/timescale I'd go for it.

[rog007]

Your trajectory is correct; but is that particular course going to add the value you need it to based upon where you want to be in 5 years time (5 years because the MSc will be out of date and you should be doing something else to gain new knowledge by then if you really wish to compete)? Imagine what you want to be doing in 5 years, look at the job specs of the current vacant ads and see what they are asking for. If this course looks like it then get on and do it. If not, choose something more in line with demand. Good luck!

[Lostprophet]

Cheers guys... Thanks for your input!

[Lostprophet]

I am still debating! Its so much cash!

[davepoth]

What do you want to do? A course in management suggests a move in to management, but that's going to mean moving from your job by the sound of your organisation.

[steveatesh]

Lostprophet said:

I am still debating! Its so much cash!

So what is the opportunity cost then? What else could you do with the money?

Have you analysed job vacancies and looked at what qualifications are being asked for, versus pay?

If there is no real job or prospects advantage then it becomes nothing more than a badge, although you may want that badge to satisfy a personal goal.

My advice for what its worth is when you have a decision to make like this, be sure of your desired goals and outcomes before you sign on the dotted line.

[CaptainSlow]

Had a quick look at the MMU website. Looks like the course is a CIMA tie in. Also, MMU doesn't score very highly on the rankings tables.

When you get to postgrad study it's more important where you study rather than what.

IMO even an MBA from there wouldn't be worth the effort.

eta

Something worth having will cost ten times this.

Edited by CaptainSlow on Thursday 16th August 10:51

[johnfm]

How on earth can anybody become a 'Master' of anything in 1 year of distance learning?


This is a cracking example of the devaluation of academic credentials in the UK.

Years ago you couldn't even do a Masters unless you had shown well above average performance in your degree course. No, if you can pay the fee, you can get the piece of paper.

Degree courses with less than 10 hours a week contact, Masters courses which are designed solely to make fees for the institutions offering them.

Pretty soon, the minimum requirement to work the tills at ASDA will be A levels, Degree and Msc to get an interview.

[Countdown]

Some places give you an automatic Masters degree 5 years after you get your first degree, as long as you pay the fee of course

[davepoth]

Countdown said:

Some places give you an automatic Masters degree 5 years after you get your first degree, as long as you pay the fee of course

Aren't most of those in Liberia though?

[johnfm]

davepoth said:

Countdown said:

Some places give you an automatic Masters degree 5 years after you get your first degree, as long as you pay the fee of course

Aren't most of those in Liberia though?

Oxford and Cambridge IIRC.

[Ali_D]

Slightly different suggestion here. Would something like chartered treasurer be of use?

[Lostprophet]

Ali_D said:

Slightly different suggestion here. Would something like chartered treasurer be of use?

I have been thinking of this... I would have to move over to treasury at some point. The move over is a bit hard right now due to the climate.

MSc adds value I believe and I also agree the uni where you do it is important. It boils down to costs. A family friend is doing his MBA from Oxford... hmm £50k! Another friend is doing an MBA from open uni for about £16k.

I need to think it through... I still have time.

cheers folks.

[Lostprophet]

CaptainSlow said:

Had a quick look at the MMU website. Looks like the course is a CIMA tie in. Also, MMU doesn't score very highly on the rankings tables.

When you get to postgrad study it's more important where you study rather than what.

IMO even an MBA from there wouldn't be worth the effort.

eta

Something worth having will cost ten times this.

Edited by CaptainSlow on Thursday 16th August 10:51

I ended up doing the MSc and I have to say it's been well received by employers. It is definitely worth it IMHO. I am also wrapping up my MBA. The MBA itself has been a more tricky one to explain to employers. Some love it and others worry I am too senior and driven for their business. I guess I need to refine my interview approach more than anything else.