Where Should I Work: Deloitte or Ernst & Young?
Deloitte and Ernst & Young (EY) are considered two of the “Big Four” accounting firms. Along with KPMG and PwC, the Big Four naturally attracts top MBA talent looking to put their degrees to use in a variety of tax, accounting, and consulting services.
Continue reading…MBA Jobs: Accounting Manager
If there is one thing that unites all businesses, whether they are Etsy storefronts or multinational conglomerates, it’s that everyone needs to know how much money it has coming in and where it is going. At large companies and firms, this responsibility falls onto accounting managers. If you are someone with an eye for detail who knows their way around a budget, you might be an excellent fit for this job.
What Is an Accounting Manager?
The accounting manager is, largely, the head of a company’s accounting department. With the assistance of a small staff, the accounting manager keeps track of an organization’s finances and makes sure that the organization is following all necessary financial laws.
Accounting managers prepare reports for executives, letting them know where they are in relationship to their monthly, quarterly, and annual goals. Accounting managers also help to forecast the company’s financial future.
The following represent a few key responsibilities of accounting managers:
- Conducting audits
- Planning annual budgets
- Evaluating financial data
- Defining accounting policies
- Establishing financial standards
Accounting Manager Salaries
According to Glassdoor data, the average annual pay for an accounting manager is $88,160. Accounting managers can also earn an average of $8,426 in cash compensation. Compensation can range from $2,120 to $23,206, depending on the company, background, and academic experience. This generally translates to higher salaries for MBA grads.
For instance, accounting managers at EY (Ernst & Young) will likely earn over $100,000 on average, according to PayScale data.
Where Do You Start?
Candidates for accounting manager positions must have at least a BA/BS in Accounting or Finance. Most positions require candidates to be licensed Certified Public Accountants, or CPAs. This is not an entry-level position; businesses generally expect candidates to have had some previous supervisory experience.
Given the nature of this position, ideal candidates are ethical and able to think critically. Small errors can cost either a client or a firm a considerable amount of money, so it is essential that accounting managers are thorough in their work, always ensuring that their records are accurate and complete.
In addition to the technical skills, accounting managers need to have excellent written and interpersonal skills, because they are required to manage staff, which entails interactions with a wide variety of people.
One way to gain the skills needed for this position is to get a MBA from a top-notch program. We’ve outlined three programs, which provide the skills needed to be a successful Accounting Manager that stands out from the pack.
University of Texas’s McCombs School of Business
The McCombs School of Business at the University of Texas at Austin is home to one of the country’s finest accounting programs. Students can gain considerable accounting knowledge while expanding their management abilities. They will be able to do this while living in Austin, one of the country’s most livable cities.
University of Illinois – Urbana-Champaign’s Gies College of Business
Students in the Gies College of Business at the University of Illinois can develop their financial skills in the college’s flexible MBA program. The training will prepare graduates to take on the role of accounting manager at firms of any size.
Brigham Young University’s Marriott School
Among the top business schools in the United States, the Marriott School at Brigham Young University does not get its fair share of attention, which is unfortunate as it is home to one of the country’s top accounting programs. MBA students can go on the Finance track, which will prepare them for their futures as accounting managers.
New MBA Jobs: Apple, Fidelity, BlackRock, and More
Whether you earned your MBA after your undergraduate studies and want a great entry level position, or you’re a seasoned vet who earned their MBA to make a big career jump, there’s plenty of jobs out there for MBAs. Stay on top of the latest and greatest job opportunities for MBAs with this handy guide, useful for both those looking for their first big job or those looking for the next big thing: Continue reading…
UT Austin Opens New Business School Building, and More – Houston News
Let’s take a look some of the biggest business school news coming out of Houston business schools this week.
New Rowling Hall is Future of Business Education at UT Austin – McCombs Newsroom
The McCombs School of Business at the University of Texas at Austin recently celebrated the opening of its new 497,500-square-foot graduate business facility, Robert B. Rowling Hall. The new building will be home to the school’s MBA and M.S. in Technology Commercialization programs, the Jon Brumley Texas Venture Labs, the John C. Goff Labs, and the Center for Leadership and Ethics.
“Rowling Hall will enrich the individual journeys and experiences of each student who learns here,” said Gregory L. Fenves, president of the university. “This magnificent building is a testament to the vision of Robert and Terry Rowling, and their belief in the power of a UT education, which propelled the project from the beginning.”
You can learn more about Rowling Hall here.
Bauer Lecturer Named Educator of the Year – Bauer News Center
Dan Ramey, a lecturer for the University of Houston Bauer College of Business’ Department of Accountancy & Taxation, is the first-ever recipient of the Educator of the Year Award. Presented by the Greater Houston Area Chapter of the Association of Certified Fraud Examiners, Ramey was recognized for his contributions to anti-fraud education within his college and university.
“It is an honor and privilege to be able to work with such a great group of faculty, staff, and students,” Ramey said. “Teaching the two classes is the highlight of my week. I love being a part of the students as they go out into the business world, and I sincerely hope that I am successfully preparing them, academically and professionally, to succeed in accounting and business.”
You can read more about Ramey and the Award here.
Mays to Celebrate EY as 2018 Corporate Partner of the Year – Mays Impacts
The Mays Business School has named EY its Corporate Partner of the Year, and announced March 22 as EY Corporate Day at the Mays Business School. One of the leading employers of Mays graduates, EY (formerly Ernst & Young) is one of the largest professional services firms in the world, and part of the “Big Four” accounting firms.
“When selecting this year’s honoree, EY came quickly to mind because of their reciprocal partnership with the school,” said Mays Dean Eli Jones. “Not only do they provide financial support and devote their time to our students, they also groom our graduates for management positions. It is a cycle of success.”
For more information about the events planned that day, you can contact Cindy Billington or visit here.
How To Become A Financial Controller
If there’s one career field that will always be attractive to MBAs, it’s a career in finance, which why almost every top MBA program offers a finance concentration. In 2015, Harvard and Stanford each sent 31 percent of their MBA graduates into finance. And one of the most popular jobs in the field for an MBA graduate is a Financial Controller.
Over 90% of India’s MBA graduates are “unemployable,” according to report
The Federation of Indian Chambers of Commerce and Industry (FICCI) in partnership with Ernst & Young has released a damning report about the current state of affairs regarding Indian MBA and engineering graduates.
The Higher Education Summit report states that nearly 93 percent of Indian MBA grads are “unemployable.” That was also true for engineering grads, at nearly 80 percent.
The greatest deviation in why so many recent Indian graduates may not be ready for careers in MBA and engineering is a pronounced skill-gap, according to the report. Many of the six million annual graduating students in the fields earn degrees from a wide-array of institutions, some of which can be considered significantly more substantial than others as well.
“According to the observations made in the report, the outdated curriculum being taught to students adds up to the skill-gap,” writes DNAIndia. “Inadequate infrastructure and poor quality of faculty, combined with old delivery platforms, make it difficult to equip students with relevant skills, it adds.”
In addition to the issues of teaching and infrastructure, another problem with recent MBA and engineering grads may be the excessive saturation of institutions which award the degrees in the country.
According to Sunaina Mattoo Khanna, chief people officer and head of transformation at Bajaj Capital, “The numbers are quite alarming and the credit for this goes to all the local institutes which have mushroomed in every nook and corner of India, certifying students as MBAs and engineers. It hardly matters what degree people have in hand but the point that matters is that they have to be ‘employable’ and future trainable.”
“We ourselves are surprised that many candidates with MBA degrees from these small institutes fail miserably in general aptitude or IQ tests,” Khanna continues. “Even questions like what are the highest slabs of tax etc. are not known to them. Other factors include, students who have a vision of self-employment and remain unemployed for a longer time because of rising capital, discussing business plans etc.”
While the figures are, in a word, dire, there is hope that schools are beginning to more properly diagnose the issues now.
BML Munjal University in Kapariwas has a Centre Of Excellence that teaches students invaluable soft-skills, which are vital in overcoming hurdles in the business world.
Read the entire report at the official FICCI website.
