Does a high GMAT score alone mean much?
August 14, 2008 8:07 PM   Subscribe

Earlier this month I applied to the Master in Accountancy program at a state university. I have an excellent bachelor GPA, but it’s from a 3-year math/comp-sci program at a Canadian university. I have been taking intermediate accounting classes from a professional association, trying and failing to find a related job in the meantime. My work history is spotty at best. In short, I knew my chances weren’t good. … until I took the GMAT today and scored 780. What now?

My families and friends are telling me to aim higher, to apply to better schools. It overwhelms me, considering that I had just about given up on my application to the state program and hadn’t bothered to prepare for the test.

What now? Is there a top-tier or second-tier graduate program willing to overlook everything else for a GMAT score of 780? Is 780 even that good?
posted by fatehunter to Education (17 answers total) 2 users marked this as a favorite
 
Well, this is just a general graduate school application advice, you should always apply to a basket of schools. In terms of rankings, some from top, some from middle, and some from bottom. So if you are applying to 10 schools, you should have 3+-1 top, 3+-1 middle and 3+-1 bottom schools in your basket. I know it is not cheap, but this will increase your chance a lot.
I don't know anything about your program but if you check Test Magic Forum, you might be able to find someone to give you advice with regards to Master in Accountancy programs.
posted by caelumluna at 8:28 PM on August 14, 2008


This program is highly ranked and requires no previous accounting coursework. In fact: "You cannot have more than 12.0 credit hours of prior accounting course work. If you exceed this limit, you are not eligible for admission." Send me a MeFi mail if you have any questions for an alumnus.

In fact, though, jobs for masters of accounting graduates are the same no matter what school they go to. A first-year staff at a public accounting firm is the same job with the same salary no matter whether you went to a top-ranked school or your "state school". In the long run, of course, the network you have as a result of being an alum of the better school may give you more opportunities.
posted by Dec One at 8:35 PM on August 14, 2008


Having a 4-year (40 half credits/120 credit hours) degree is often one of those non-negotiables for admission to most grad programs, especially for American schools, where AFAIK the 3-year bachelors degree doesn't exist.

Also, I'd take it that if you have a Canadian 3-year degree it's a general rather than an honours degree. Did you take the non-major, rather than honours/major/specialist versions of your math/CS major courses? If your core courses were mostly the non-major/general-degree-only versions, that's something that admissions committees could be concerned about, depending on whether or not they really care about your undergrad math coursework.
posted by thisjax at 8:53 PM on August 14, 2008


Response by poster: I'd take it that if you have a Canadian 3-year degree it's a general rather than an honours degree

Yes, it's a general degree. I started in Honours CS and switched to General Math in the third year, so my core courses are about two to one (Hon. to Gen.). When I applied to the Master program, I was hoping my professional accounting courses (CGA, 3rd level) would count for something. It was a pretty thin thread of hope.

The GMAT threw me for a loop. I've calmed down a little since. I'll just apply to the state schools, since even those may be out of reach. And try my luck with a couple of "better" schools perhaps...

I'll check out the Test Magic Forum and the UNC program. Thank you all!
posted by fatehunter at 9:19 PM on August 14, 2008


Response by poster: A first-year staff at a public accounting firm is the same job with the same salary no matter whether you went to a top-ranked school or your "state school". In the long run, of course, the network you have as a result of being an alum of the better school may give you more opportunities.

I will count my blessings to get any accounting-related job that pays a living wage. The school network is one of my primary reasons for pursuing a graduate degree, since it may help my job prospects.

After months of job search, I've come to the conclusion that employers want either experienced pros or accounting majors fresh out of school. I can't get experience without experience (one recruiter told me flatly: "We have so many people coming to us with this problem every day. Sorry but we can't help you."), so I'll try to become a major and get recruited on campus. That's one possible course of action anyway.
posted by fatehunter at 9:46 PM on August 14, 2008


As a Canadian who has taught GMAT prep, I encourage you to broaden your horizons -- if they meet your goals. Are you in a rush? Take some time to improve your work situation. Then apply to some of the better schools. I've had people with less experience than you have get scholarships to good schools. I have not noticed that anyone outside Ontario even understands that 3 year degrees exist.

That being said, I had a good GMAT and great experience, but opted for a regional school in Canada. It was awesome and has done wonders for me. People will tell you to go do Harvard or whatever, but, in my case, I didn't want the $100k+ debt load and the life commitments I would have been tied to. Instead, I do my own thing (working for myself), had kids when I wanted, bought a home when I wanted, paid down my mortgage like crazy, etc.
posted by acoutu at 9:58 PM on August 14, 2008


What's your end goal?
posted by k8t at 10:55 PM on August 14, 2008


Response by poster: I'm still job searching, but I don't know how long I can keep this up. The job search has taken eight months and produced nothing. I wouldn't be applying to grad school if my work situation didn't seem so dire. What else can I do? Networking is so not my strong suit.

I've thought about Canadian schools. Unfortunately, few of them offer master programs in accounting, and the ones that do tend to ask for accounting bachelors. Do you think they might overlook my 3-year degree, non-biz major and other weaknesses for a high GMAT score?
posted by fatehunter at 11:01 PM on August 14, 2008


Response by poster: What's your end goal?

A career in accounting. Right now I just want a starting point.
posted by fatehunter at 11:03 PM on August 14, 2008


I know some people who applied to this program, which is meant for non-business majors. A handful of universities (at least YorkU and UBC) have CA prep diploma programs for people without undergrad business training., but they all seem to ask for a 4-year degree. Talk to people at admissions offices to find out if you can apply under some type of special status, given your GMAT score. Ontario schools would probably be easier to deal with because the 3-year general degree, as acoutu mentioned, is an Ontario-specific degree.

Also, if you've already done some CGA courses, you might be able to get accelerated standing in some of these programs, so that might help your case as well.
posted by thisjax at 11:37 PM on August 14, 2008


Can you apply your three years of coursework to a more traditional four-year program in order to satisfy the degree requirements? You sound intent on getting a Masters degree in accounting, so what's another year of school going to hurt? You've already got the kick-ass GMAT score in the bag. Now it's just a matter of getting the bachelors degree and you're golden.
posted by Civil_Disobedient at 3:51 AM on August 15, 2008


What now? Is there a top-tier or second-tier graduate program willing to overlook everything else for a GMAT score of 780?

If you're willing to do something like a dual MBA/MAcc, and you're a Caucasian, Indian, or Chinese male, a top-tier school will probably not overlook everything, but a school somewhere between #8 and #20 probably will, especially if your undergrad grades are good.
posted by Kwantsar at 4:48 AM on August 15, 2008 [1 favorite]


Fatehunter, why do you want a MAcc? I'm not sure what the details are in other provinces, but in Quebec you can take just those courses required to get you into the program in chartered accountancy (as a diploma at McGill, a certificate at Concordia) and then take the CA program while working (you've done your networking by going to the on-campus events).

Mefimail me for details if you're interested in finding out more about this *in Quebec*. (I am told, but cannot swear it, that if you work for one of the big accounting firms you do not even need to pass the French language test.)
posted by jeather at 6:11 AM on August 15, 2008


I'm confused. What country are you in? In what country are you looking for a job and/or career? You said you went to a Canadian school but are now applying to a "state university" which suggests U.S. Or maybe Australia? They have states there too, I believe.
posted by Dec One at 7:35 AM on August 15, 2008


Response by poster: thisjax: I spoke with the DAP admissions people at UBC last year. They told me to do a "qualifying year" of full-time undergrad studies at the senior level. My bachelor was in Math/Comp-sci, so those were the only subjects I could take advanced classes in. And, well, I didn't really like either subject that much. I wanted professional, practical training, so I opted for CGA instead.

Civil_Disobedient: I've been looking into that. Canadian universities don't seem willing to let General bachelors apply three years of credits to a 4-year degree. They take 2 years at most. I wonder if American schools would be less rigid.

Kwantsar: I just emailed USC Marshall. Its accounting program ranks high, but it's not a top ten business school overall...? Crossing my fingers.

jeather: I'm already taking classes toward my Certified General Accountant designation. It doesn't seem wise to switch to CA now, especially since I'm not 100% positive I prefer financial to management accounting. Also, it kind of irks me that I may have to do an addition year of undergrad... two years of schooling for a diploma when I already have a bachelor? Thanks for reminding me of Quebec though. Hee.

Dec One: Sorry I wasn't clear. I live in Canada and haven been looking for a job here. I'm applying to grad schools in the U.S. because some of them seem to have more flexible admission requirements, and I've heard that American employers are more willing to take a chance on noobs.

Thank you all!
posted by fatehunter at 9:52 AM on August 15, 2008


I just emailed USC Marshall. Its accounting program ranks high, but it's not a top ten business school overall...? Crossing my fingers.


If their programs look okay to you, it wouldn't kill you to talk to Haas and Anderson, as well. You'd probably have a shot (again assuming good undergrad grades) at either place.
posted by Kwantsar at 10:27 AM on August 15, 2008


I know it's possible to get the prerequisite courses to apply for the CGA designation as well, though then -- as with the CA -- you need to take about a year's worth of courses for the certification, once you've taken the appropriate prereqs to those courses. The prereqs for CA/CMA/CGA are highly similar (until you get into the certification classes). But I'm not clear what classes you are taking. I'd look into taking evening classes and working or temping as an accounting clerk until you have an in at an accounting firm (or appropriate firm for a CGA). I know firms tend to take junior employees on only in the summer, after the autumn hiring period. There is always a CMA as well, though I believe it requires a number of non-accounting management courses.

Here is some info for the appropriate programs at Concordia and McGill. I assume you are not interested in studying in French.

Again, if you have questions about things in Quebec, I can give you more details. I know very little about programs elsewhere in Canada. I recommend you look into similar adult ed programs, though, which certainly exist somewhere and might get you a lot of the way towards your goal. Also, it is likely to be significantly cheaper than the US. Though not, of course, if you cannot get a job.

Bear in mind that accounting guidelines differ in Canada and the US, though there is some reciprocity if you get a CPA and would like a CA instead.
posted by jeather at 11:36 AM on August 15, 2008


« Older And I don't even like tea tree oil. It smells...   |   Web Accessibility: Numbers? Newer »
This thread is closed to new comments.