Master in Professional Accounting Admissions Blog

Insider Information for Prospective Texas McCombs MPA Students

Category: MPA Program Info (page 9 of 16)

The University of Texas at Austin Leads 2019 CPA Exam Pass Rates

In December, the National Association of State Boards of Accountancy (NASBA) announced the CPA Exam pass rates statistics, and The University of Texas at Austin trailblazed to the top of the CPA Exam’s pass rates from first-time test takers at large collegiate programs (60 or more test takers).


The top first-time CPA Exam pass rates by large collegiate programs for 2019 are:

  1. University of Texas at Austin — 358 candidates, 89.5% pass rate
  2. Brigham Young University — 273 candidates, 89.4% pass rate
  3. Wake Forest University — 82 candidates, 88.8% pass rate
  4. Boston College — 129 candidates, 88.3% pass rate
  5. University of Michigan-Ann Arbor — 77 candidates, 88.2% pass rate
  6. University of Florida — 248 candidates, 86.4% pass rate
  7. University of Virginia — 96 candidates, 84.8% pass rate
  8. Texas A&M University — 351 candidates, 82.9% pass rate
  9. University of Wisconsin-Madison — 227 candidates, 82.9% pass rate
  10. Gonzaga University — 118 candidates, 82.4% pass rate

The American Institute of CPAs (AICPA) also named 133 winners of the 2019 Elijah Watt Sells Award. This award recognizes test takers who scored a cumulative average score above 95.50 across all four sections of the CPA exam, passed all four sections of the exam on their first attempt, and completed their testing in 2019. The University of Texas at Austin had twelve (yes, twelve!) Sells Award winners in 2019:

  • Daniel Chang (integrated MPA ‘19)
  • Bryan Davis (traditional MPA ‘16)
  • James Hall (Economics MPA ‘19)
  • Kara Killingsworth (integrated MPA ‘19)
  • Jerry Lam (integrated MPA ‘19)
  • Adam Landefeld (integrated MPA ‘19)
  • Collyn Robison (integrated MPA ‘19)
  • Travis Sakos (integrated MPA ‘18)
  • Kyle Schoen (integrated MPA ‘19)
  • Adam Schor (integrated MPA ‘19)
  • Wei-Ning Tsai (traditional MPA ‘19)
  • Alec Weissman (integrated MPA ‘19)


Section pass rates* for all 55 jurisdictions in 2019 are:

  • 51% for AUD
  • 60% for BEC
  • 46% for FAR
  • 56% for REG

Section pass rates** for UT Austin Candidates in 2019 are:

  • 81% for AUD
  • 92% for BEC
  • 76% for FAR
  • 85% for REG

Section pass rates** for all other Texas colleges & universities in 2019 are:

  • 53% for AUD
  • 59% for BEC
  • 48% for FAR
  • 58% for REG

 

*All first-time test takers in 2019
**All test takers (first time or otherwise) in Texas in 2019

Paving New Paths: MPA Alums with Non-Business Backgrounds

Some students enter the traditional MPA program with non-business backgrounds looking to make a career pivot. Let’s meet a few of our recent alums who did just that and find out where they are now.

 

Mara EtzMARA ETZ, tMPA ’16
Undergrad: Northeastern University, Criminal Justice
Current Position: Tax Senior Associate, PwC
Location:  Austin, TX

What do you enjoy most about being in tax for your career?
I like the client relationships we have as tax professionals. And specific to state and local tax, I enjoy the challenge of figuring out the differences between the tax laws in each jurisdiction. It keeps things interesting.

What was your favorite class at Texas McCombs?
It’s a tie between Intro to Tax with Professor Holbrook and Mergers & Acquistions with Professor Singer.

 

SSymone GreenYMONE GREEN, tMPA ’16
Undergrad: Columbia University, Italian Cultural Studies
Current Position: Analyst Accountant, Millennium
Location: New York City, NY

Why did you decide to earn your MPA degree?
Even though my undergrad major was Italian Cultural Studies, I was pre-med. I completed the requirements but decided that I no longer wished to attend medical school. At the same time, I was teaching myself some accounting in order to teach it to someone else. I ended up taking a liking to it so I decided to study accounting after I graduated.

What was your favorite class at Texas McCombs?
My favorite class at McCombs was Strategic Control Systems with Jim Albrecht. I enjoyed working on the case studies, and Professor Albrecht was very knowledgeable on the subject of management strategy.

 

Sam HendersonSAM HENDERSON, tMPA ’19
Undergrad: Texas A&M University, Maritime Business
Current Position: Internal Auditor, ExxonMobil
Location: Houston, TX

Tell us more about your job with Exxon.
I am currently an internal auditor within ExxonMobil’s Controller group. While it’s a challenging role, I am being exposed to the entirety of ExxonMobil’s business and interact regularly with senior management. It is a great position to learn about the company and potential future roles.

What was your favorite class at Texas McCombs?
It’s hard to choose a favorite but I would rank the ITAC class pretty high. It combined previously learned theories and applied it to real world business examples.

 

Connect with an MPA Student Ambassador to learn more about life in the MPA program and living in Austin!

Join Us at an Upcoming Info Session!

Whether you’re currently in college or just starting your career, move ahead fast by earning a one-year specialized master’s degree in accounting, finance, business analytics, marketing, or information technology & management from Texas McCombs!

During each info session, you’ll hear more about the admissions process, curriculum, and career outcomes within the Master of Science and Master in Professional Accounting programs, as well as what life is like in one of the top-ranked cities in the nation – Austin, Texas!

Register for the info session date that works best with your schedule. We look forward to meeting you soon!

October 8, 2020, 4:00 – 5:00 p.m. CT

October 22, 2020, 4:00 – 5:00 p.m. CT

November 5, 2020, 4:00 – 5:00 p.m. CT

November 19, 2020, 4:00 – 5:00 p.m. CT

A Peek into the Classroom: Tax Research

From earning his MPA degree to becoming a Director in PwC’s Financial Markets practice, Chad Clark (MPA ’09) is utilizing his tax expertise both in his professional life and back on campus. Let’s learn about a case he developed for Professor Kristina Zvinakis’ Tax Research course.

CAN YOU EXPLAIN THE CASE YOU CREATED FOR PROFESSOR ZVINAKIS’ CLASS?
The case was about an investment in a financial product, a zero-coupon bond. It required students to use their research skills to determine the proper tax classification of the investment and the amount of taxable income the investment generated across time. The method for determining taxable income required more than basic arithmetic, so students also had to tap into their Finance 101 memory bank to compute those amounts.

WHAT DO YOU REMEMBER ABOUT YOUR TAX RESEARCH COURSE?
We learned about issue spotting, research techniques, how to write a memo, the hierarchy of tax authorities, and so much more. Not only was Tax Research my favorite class in business school, I believe it has been more valuable to me as a professional than any of my other classes. I have been working for ten years and I still use the same techniques for research and writing that I learned from Professor Zvinakis.

WHY DID YOU CHOOSE TO STUDY TAX?
I liked the idea that tax planning could impact an organization’s bottom line. I appreciated and enjoyed the compliance aspect of tax, but it was the strategy and planning that drew me in.

TELL US ABOUT YOUR LIFE SINCE GRADUATING FROM THE MPA PROGRAM.
I have been working with PwC’s Financial Markets group for the past ten years. I spent the first two in New York City and have been in Austin since then. When I am not working I am out enjoying Austin with my wife Kassie, daughter Quincy, 9, son Theo, 5, and identical twins Archie and Hawthorne, 18 months.

WHAT DO YOU RECOMMEND STUDENTS LEARN MORE ABOUT BEFORE ENTERING THE WORKFORCE?
Technology and data analytics have become an integral part of business, so I believe students will benefit by developing skills and knowledge in these areas as a supplement to their area of focus within accounting. This was one of the key themes we discussed while debriefing the case study during class.

Earning a Master’s Degree in a Fluctuating Economy

The past few months have brought on a sense of uncertainty about the future. Going back to school and earning a master’s degree during these times could serve as a way to overcome obstacles and find stability in a turbulent economy. Read on and learn why earning a graduate degree within the next year or two may be the right choice for you.

FURTHER YOUR EDUCATION
Higher education is an excellent opportunity to grow your skills and explore new ones. Whether you get a master’s degree immediately after your undergrad or after working for a few years, the continued learning that an advanced degree provides you will be useful in the long run. This option can also be used as a means of switching career paths. If the field you currently work in or have an undergraduate degree in is no longer a passion of yours – or you have discovered an interest in a different area – pursuing a graduate degree can help you further explore new careers and gain the necessary skills and knowledge to pursue them.

DELAY ENTERING THE WORKFORCE
When the economy is unpredictable and job openings are few and far between, it can be extremely daunting to enter the workforce right after your undergraduate degree. It may also feel like the workforce is uncertain at a time when unemployment rates are rising. However, pursuing a graduate degree can allow you to not only gain more expertise in a given area, but it can also give the economy time to stabilize before you enter or re-enter the workforce. Pursuing a master’s degree is a great investment and productive use of your time as you plan ahead and wait out the current economic fluctuations.

HIGHER MEDIAN SALARY
There have been many studies done by researchers to analyze the differences in median salaries between individuals with bachelor’s degrees and those with graduate degrees, all other factors being relatively the same. One such study, conducted by Georgetown University, showed that college graduates earned around $17,000 more annually on average with a master’s degree than with a bachelor’s degree. This study went into further detail with breakdowns by major to show that, despite what these degrees were obtained in, having a master’s degree showed higher salaries than a bachelor’s in almost every single case.

The reasons mentioned above are compelling when deciding whether or not to pursue a graduate degree not only in general, but especially during an economic situation like the one we are facing now. With the plethora of benefits from earning a graduate degree, giving this option more weight in your decision process is significant to long term success and growth.

If you are interested in joining the Master in Professional Accounting program at Texas McCombs, the application for the MPA Class of 2022 will open on September 8, 2020.

Why Choose Accounting for Your Master’s Degree

There’s a common misconception about accounting being for those who simply love to crunch numbers and sit behind a desk all day. In reality, accountants hold vast skillsets that help make financial decisions and affect the bottom line. Let’s take a closer look at why accounting is the language of business and how it might be the perfect fit for you.

Variety of job opportunities.
Accounting is the backbone of a company and opens doors in almost every industry. Keeping the books for a company, understanding its financial stance, and predicting future financial positions are all responsibilities that fall on the accountant. Without it, a company simply cannot successfully move forward. Here’s a list of just a few of the career paths that accountants can pursue:

  • Consulting and Advisory
  • Financial Services and Investment Banking
  • Government and Nonprofit
  • Private Industry
  • Public Accounting

As you can see, any industry that requires financial tracking needs an accountant, and their high demand offers many opportunities for growth.

Developing transferable skills.
An accounting degree offers the development of many versatile skills, including:

  • Budgeting
  • Communication
  • Detail-orientation
  • Leadership
  • Organization
  • Problem-solving
  • Quantitative Reasoning

These skills, along with many others, are gained while earning your master’s degree in accounting and continue to develop and sharpen as you move up in the workplace. The range of skills presented shows an accountant’s ability to apply them to different fields, industries, and parts of life.

Stability and growth.
Accounting, being in high demand for any business, provides a stable rate of employment despite fluctuations in the economy. This field also continues to grow through the years. Taking a look at data from The Bureau of Labor Statistics, employment in the accounting field will continue to grow 10% from 2016 to 2026. This rate is higher than the national average for all occupations! Accounting is a field in which unemployment is not as high a concern given the nature of the job and is another reason why it is such an appealing career choice.

Right fit for you?
If you enjoy working with numbers and organizing data but also solving problems and communicating outcomes, accounting may be the perfect fit for you. To sum it up, accountants determine the financial stance of a company so that it can make forecasts about the future and understand the possibilities of each decision. They also record financial statements of the company and are aware of every transaction that takes place.

Watch this video created by the Texas McCombs Master in Professional Accounting program to learn more about accounting and if it’s the choice for you!

Accounting is more than just looking at numbers all day; it’s about building relationships with people and understanding how to improve on previous decisions for better future outcomes. If you think accounting is for you, learn more about the top-ranked accounting program at UT Austin and visit the MPA website.

The application deadline to start your graduate accounting degree this fall is June 1, 2020! Start your application today!

Learn About the MPA Consulting Club!

Are you looking for a career in consulting or advisory? Then you have come to the right place! We interviewed Sarah Childers, MPA ’20 and former president of the Master in Professional Accounting Consulting Club (MPA CC), to tell us more about this student org and its resources for MPA students at Texas McCombs.

WHAT IS THE MPA CONSULTING CLUB?
The MPA Consulting Club is an organization to prepare and inform MPA students about careers in advisory and consulting.

WHY WAS MPA CC STARTED, AND HOW LONG HAS IT BEEN IN EXISTENCE?
Recruiting for consulting and advisory is quite different than audit and tax, and it requires additional steps in recruitment strategy and interview preparation. Therefore, a few MPAs started this student org three years ago to help students prepare for a career in consulting/advisory.

HOW DOES THIS ORGANIZATION HELP MPA STUDENTS?
It provides resources for interview prep, case partners, workshops with employers, networking with employers and alumni, mentorship, recruitment strategy development, case interview preparation, and more.

WHAT’S YOUR FAVORITE PART ABOUT MPA CONSULTING CLUB?
Mentorship! You can learn a lot from other students’ recruiting successes and mishaps. It’s a great community full of intelligent, driven MPAs.

WHAT KIND OF EVENTS DOES MPA CC HOST?
We host networking and technical workshops (valuation, deck-building, case prep), as well as informational (what is consulting/advisory, who recruits at Texas McCombs, how do I recruit) and social events.

HOW HAS MPA CC PREPARED YOU FOR SUCCESS IN YOUR PROFESSIONAL CAREER?
It has given me more insight into consulting/advisory so I know what to expect in the working world (and what positions I would excel in). Mentorship has also guided me in choosing the right job and company, and from a technical standpoint, I feel prepared for interviews and financial modeling.

HOW CAN STUDENTS JOIN MPA CC?
Come to a meeting! There are annual dues (contact Xinyi Lu for more information). You can also fill out this interest form or visit our website at texasmpacc.org to learn more.

IS THERE ANYTHING ELSE YOU WOULD LIKE TO SHARE ABOUT MPA CC?
Those interested in investment banking may benefit from the mentorship and technical workshops that MPA CC offers.

To connect with the current MPA CC Executive Board members, view their homepage or send them a message.

What is the Best Way to Become a CPA?

You’ve decided to become a Certified Public Accountant, but you’re not sure how to go about getting there. A bachelor’s degree, even in accounting, is typically not sufficient, as most states require 150 hours of college credit (plus other educational and work experience requirements) for the CPA license. Here are a couple of options to consider if you are set on pursuing this career path:

  1. Take the required accounting coursework for CPA exam eligibility as a non-degree-seeking student. Available at some colleges and universities, a non-degree-seeking option may be a good fit if you are already working and have built a professional network. This approach would help you meet the requirements for the CPA exam and may provide more choices in course delivery, such as evening, weekend or online classes.
  2.  Study a graduate degree in accounting, such as the Texas McCombs MPA. This is a great option if you are seeking employment opportunities, want to expand your professional network and would like to enroll as a full-time student. The benefits of a structured master’s degree program include dedicated career services, connections with students and alumni, networking opportunities with employers and the addition of a higher-level degree to your credentials. Most graduate accounting programs require specific pre-enrollment courses. The Texas McCombs MPA helps you to make an easy transition to a new career by requiring only five pre-enrollment requirements, which can be completed at a local community college.

Contact us if the Texas McCombs MPA sounds like a good match for you!

Why Should You Choose Texas McCombs MPA?

Why should you attend the MPA program at UT-Austin? Consider this…

1) Top-Ranked Accounting: The McCombs School of Business graduate and undergraduate accounting programs are ranked #1 with the Public Accounting Report. What contributes to our reputation for excellence?

2) High Quality Campus: The University of Texas at Austin is ranked highly in the nation and the world. Attending a top national university offers distinct advantages, such as access to

3) Great Place to Live: Would you like to live in a city that offers a relatively moderate cost of living and other attractive features? The city of Austin regularly tops many rankings. Austin offers great weather and plenty of outdoor activities in a laid-back, friendly environment and consistently receives high accolades for quality of life, innovation, employment opportunities, cost of living…and the list goes on….

4) Longhorn Spirit: The University of Texas at Austin is filled with history and traditions and plenty of exciting athletic events.

Want to learn more about our program from a student’s perspective? Contact an MPA student ambassador.

Hook ’em!

Yearning to Learn Across the Globe

For the past 16 years, Texas McCombs has offered MPA students the opportunity to gain a global business perspective by studying abroad. Traditional, integrated, and economic MPA students can study overseas in Prague or Buenos Aires. Let’s learn more about this summer’s program in Argentina.

MPA students study abroad in Buenos Aires

Many of the MPA students studying in Buenos Aires explored Mendoza, a province in Western Argentina, during one of their free weekends.

Buenos Aires. The capital city known for tango, steak, and soccer. This eclectic metropolis has so many pastimes, delectable eats, incredible architecture, and outstanding educational institutions that it’s easy to see why it was chosen as an MPA study abroad destination.

Since 2014, Texas McCombs has partnered with Universidad de San Andrés (UdeSA), a private university with approximately 2,500 students, to provide a study abroad experience for MPA students. UdeSA offers degrees in business, law, social sciences, and economics on two campuses in the Buenos Aires area. Approximately 70 MPA students study abroad each summer. This past summer, 26 elected to study in South America at UdeSA’s downtown campus. Here, they lived, learned, and explored Argentina together.

One of the unique features of the program is that MPA students take classes with both UT Austin and UdeSA professors. Texas McCombs faculty members Steve Goodson and Kristina Zvinakis traveled to South America to teach one of the courses in the five-week program, and a UdeSA faculty member taught the other course. “MPA students benefit by earning six credits in another country without extending their degree program,” said Emily Maxon, Executive Director of International Programs at UdeSA. “It opens their minds to the ways business is done in a different country while they are also learning to be adaptable and flexible.”

Students noted that Santiago Barraza, their UdeSA Management professor, was one of the highlights of their trip. “He was interested in each student’s experience and applied it to real world situations,” said Charlie Howell, a fourth-year student (pictured below, left) who participated in the program. Professor Barraza even took students on an office visit to a local software development company whose stock was skyrocketing at the time.

But it wasn’t just the ability to earn course credit that drew students to South America; they also participated in cultural assignments UdeSA arranged and organized excursions (both in Buenos Aires and around Argentina) for themselves. Before classes started, students toured a large swath of the city by bus to get a flavor of Buenos Aires. They also learned how to make empanadas and how to tango during their stay. “McCombs and UdeSA planned everything so well. They helped us find a balance between studying and enjoying the city,” said fifth-year student Julia Siegel (pictured below, center). On the weekends, they explored the country by hiking in Patagonia, visiting wine country in Mendoza, and experiencing the beauty of Iguazu Falls.

Fifth-year student Dean Cohen (on the right) summed up his experience stating, “We had a great, dynamic group of students, and we brought that back to Austin.” These students made a connection abroad that will stay with them throughout their time at UT, in their careers, and (we hope) their future travels.

MPA students in front of UdeSA

MPA students Charlie Howell, Julia Siegel, and Dean Cohen showcase their Longhorn pride in front of UdeSA.

 

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