Help for Military Vet

[mikerunsfast]

New user here...

I was an active duty USAF officer for nearly 15 years...and lost my career due to cutbacks in early 2012. I was lucky to find employment...at a 50% pay cut...but the hours involve rotating shift work. Not likely to change for another 7-10 years.

The loss of my military career has been a terrible blow, and I'm just trying to figure out how best to enter into a new career that may eventually pay well enough that I can overcome loss of income and military retirement.

As a result, I am considering a career change. I need more regular work hours (don't mind long hours, but definitely not rotating shifts that prevent visitation with my minor children who live out of state.)

How can I get started in Finance/Accounting, coming from a scientific background and no formal education in the field? My hope would be to find an accounting/finance job in management. A friend was able to find such a position following graduation, with little experience, and earns nearly what I make now, one year out of college. Must be nice.

My thinking is to work towards either a bachelor's in Finance/Accounting (double major) or an MBA with concentration in Finance/Accounting. Any thoughts on which would be better? Would I be shooting myself in the foot if I completed the degree online? This would allow me to find an accounting job fulltime while attending class in my free time. Seems reasonable. Or, perhaps best to work part time and go to a brick and mortar University?

Appreciate any ideas.

Mike

 

[ncwolfgang]

Mr. Mikerunsfast,

I'm sorry to hear about your sudden halt to your military career. My dad was in the Army for 21 years and he retired as an E7. Fortunately for him, he is able to draw disability and retirement. Thank you for your services.

I am not in the military but I hope I can offer some advice to help you out. From what I gather, I know a way to get experience but you have to wait a few months. All of the tax preparation businesses will hire entry level positions and offer a training class to help out new hires for tax season. This is a way to gain your experience that you are looking for. In the meantime, before I started my classes in accounting, I sought youtube to find lectures in accounting basics. I would like to make a recommendation to a youtube accounting class. Go to youtube and search for JCCC and look up the accounting basics class that Mr. Krug has to offer. I watched his lectures and did all the homework and I am now able to test out of my accounting class.

To address your question about the online degree, I don't think it is a bad idea. The only bad drawback I see about attending on online college is you lack the social aspect of networking. Also, you have to make sure it is a "Legit" college and do your research on that college. I think if you completed a degree online and approached an accounting firm presenting your knowledge and school experience you would not have a problem. Also, if you take up the tax preparation work, that would be experience in the "Field" and everyone likes someone to have some experience. Most colleges and universities require some type of internship in the field of study. With that being said, after you finish your internship, you should be able to network with that business and the college to fish out the possible jobs in the area. I know after you graduate from a college, you are part of their Alumni and they have job placement staff to help you get into the field. If the college can help you get into the field you studied for, it boosts their statistics for graduates on job placement. They like that.

To address the double major question, I also have asked what would be best. With my research, I know that the MBA has a very nice title, but it is not valued as much as a CPA or a Doctor. If you go to a college that offers both programs and you go for the MBA, you can not do the accounting but if you go for the accounting you can go for both. If anyone else has any objections to this please say so. I only gathered this information from one college. The accounting CPA is very focused in the field whereas the MBA is very vast and large.

All information that I have provided for will produce some objection and I am fully aware of that. But please know, I am not a professional. I am simply a student new to the accounting field and I only want to say these things to help out in any way that I can.

I hope this helps!