Knock, knock, knocking on opportunity's door

So, like many of you out there who are thinking about returning to school for an MBA, I am not 100% sure exactly what I want to do with the rest of my life in terms of my career.  I created this blog to talk about the experience of pursuing an MBA-preparing, applying, enrolling, and completing.  However, I just want to make mention in this post that an MBA program is not the only career transition that I've considered.

This summer I started to really contemplate my career and made the decision that I definitely could not continue in public accounting long-term.  Not that it's a bad job, it just does not pass the Monday test, if you know what I mean.  At that time I learned a few other opportunities that were pretty appealing to someone like me with a CPA and public accounting background.  Besides an MBA program, which is pretty well-known for transitioning someone into a new business career, I learned about two other careers that really interest me:

1.  FBI Special Agent

2.  Accounting Professor


Wow!  When I write it down and look at the two of them, I realize that they appear to be completely different spheres of personality types!

I decided that, since I wasn't sure which of the three I REALLY wanted to do, I would apply to all three and see what shakes out.  Well, I won't hear back about acceptance decisions for MBA programs until mid-December but, so far, the other two are shaking out to be really good prospects.  Unfortunately for me, it doesn't solve my decision problem.

FBI:  I passed the first round of testing and have been invited to participate in Round 2 testing.  This means a 2-day trip to Chicago for another round which includes a 4-hour process of writing up a sample case report and having a panel interview.  I am totally excited about this opportunity and on the face of it, it seems like an awesome opportunity.  While a Special Agent's salary is not anything to brag about (you can look up the pay scale, along with tons of other information at www.fbijobs.gov ), the money is sufficient to provide for a family and there is definitely a great feeling of accomplishment with the work that a Special Agent performs.  It would be awesome to spend your day figuring out how to bring down bad guys, and honestly, what is cooler than an accountant with a gun?  The only real issues I would have with a position and a career with the FBI are the fact that we will most definitely be moving to an unspecified location in the U.S. with potential future moves coming at periodic intervals and there is an overall toll that a career in law enforcement can have on an individual and their family.

Professor:  Not many people are aware of this, but being an accounting professor is less focused on knowing current accounting principles and regulations, and more on researching new ideas and concepts that can apply to the world of accounting and business management.  Also not known by many is the fact that accounting professors, along with most other business school professors, can make a pretty hefty salary--newly hired PhD's start around $120-$150k and get into the mid $200's and higher.  Not bad for someone that basically works on whatever they want, as long as it is relevant in their field, and has a lot of flexibility as compared to almost any other professional career.  Their is a teaching aspect for professors, which is something that really interests me, but anyone that is going to make a good living as a professor must live by the "publish or perish" mentality.  As far as this opportunity goes, I applied for a scholarship fund ( www.adsphd.org ) that was created for people with public accounting experience to go back to school.  A PhD program takes 4-5 years on average to complete and while most schools waive all tuition and fees and pay you a stipend for being an RA or TA, you may still be living of Ramen noodles for a good portion of that time.  The scholarship program will select 30 individuals nationwide for the next few years and pay them $30k to go back to school for an accounting PhD at any school that is associated with the program...the applicants must commit to pursuing a career as a professor in either Audit or Tax accounting.  I have been selected as a finalist for this program, which means another trip to Chicago for a 2-day conference to learn more about the program and to meet with representatives from various Universities.

Overall, it's great to have options, but it's hard to decide between Good, Better, and Best...especially when your future and your family's future depends on your decision.