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Best conference-Big 10 according to JofA
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bullet Offline
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Best conference-Big 10 according to JofA
http://www.journalofaccountancy.com/news...16174.html

Here's the rank-of CFOs according to the Journal of Accountancy:

Overall, the Big Ten trained 75 of the 648 CFOs with known educational backgrounds, according to the report. Foreign schools produced 48 current CFOs, while the Atlantic Coast Conference produced 47 and the Ivy League produced 42. The sports powerhouse Pac-12 educated 38, finishing ahead of the Big East (32), Southeastern Conference (30), Big 12 (30), Mid-American Conference (23), and Patriot League (23).

Companies with overseas operations help account for the large number of CFOs educated abroad, Crist said. Universities in Canada produced the most foreign-educated CFOs with 15, followed by schools in the U.K. (11) and India (7). “Oftentimes these companies are bringing people from their international operations over to be the CFO of the American parent, and it’s rounding those folks out and giving them exposure to the United States,” he said.

Leading individual colleges in the report were the University of Pennsylvania, an Ivy League school, with 14, and the University of Notre Dame, an ACC school, with 13, just ahead of Midwest neighbors Illinois and Indiana. Notre Dame’s conference change in 2013 boosted the ACC’s CFO ranking while diminishing the Big East’s. Stanford University, a member of the Pac-12, rounded out the Top 5 schools with 11.
03-17-2017 01:21 PM
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MplsBison Offline
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RE: Best conference-Big 10 according to JofA
Wait a second, I thought accounting and finance were different beasts?

Accounting, I think of a nerdy guy sitting at a desk with a calculator and a spreadsheet.

Finance, I think of Wall St guy in a suit, making huge money with inside information, then charging $1000 in sushi to the company expense card.
(This post was last modified: 03-17-2017 01:24 PM by MplsBison.)
03-17-2017 01:24 PM
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TerryD Offline
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RE: Best conference-Big 10 according to JofA
(03-17-2017 01:21 PM)bullet Wrote:  http://www.journalofaccountancy.com/news...16174.html

Here's the rank-of CFOs according to the Journal of Accountancy:

Overall, the Big Ten trained 75 of the 648 CFOs with known educational backgrounds, according to the report. Foreign schools produced 48 current CFOs, while the Atlantic Coast Conference produced 47 and the Ivy League produced 42. The sports powerhouse Pac-12 educated 38, finishing ahead of the Big East (32), Southeastern Conference (30), Big 12 (30), Mid-American Conference (23), and Patriot League (23).

Companies with overseas operations help account for the large number of CFOs educated abroad, Crist said. Universities in Canada produced the most foreign-educated CFOs with 15, followed by schools in the U.K. (11) and India (7). “Oftentimes these companies are bringing people from their international operations over to be the CFO of the American parent, and it’s rounding those folks out and giving them exposure to the United States,” he said.

Leading individual colleges in the report were the University of Pennsylvania, an Ivy League school, with 14, and the University of Notre Dame, an ACC school, with 13, just ahead of Midwest neighbors Illinois and Indiana. Notre Dame’s conference change in 2013 boosted the ACC’s CFO ranking while diminishing the Big East’s. Stanford University, a member of the Pac-12, rounded out the Top 5 schools with 11.
(This post was last modified: 03-17-2017 01:36 PM by TerryD.)
03-17-2017 01:35 PM
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Frank the Tank Offline
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RE: Best conference-Big 10 according to JofA
(03-17-2017 01:24 PM)MplsBison Wrote:  Wait a second, I thought accounting and finance were different beasts?

Accounting, I think of a nerdy guy sitting at a desk with a calculator and a spreadsheet.

Finance, I think of Wall St guy in a suit, making huge money with inside information, then charging $1000 in sushi to the company expense card.

Uh, accounting IS finance. The Wall Street investment bank-type jobs that most people think of as "finance" constitute a tiny percentage of finance jobs. At the same time, financial trading firms actually want computer science and engineering grads more than business school grads today since programming is such a huge part of that field now. Otherwise, the vast majority of corporate finance jobs require a lot of accounting skills.

Let's put it this way: accounting is to finance as coding is to tech. There might be some tech jobs out there where you don't need coding skills and there might be some finance jobs out there where you don't need accounting skills, but those are few and far between. It's not an accident that even middle tier colleges still have generally good placement for accounting majors while they're all over the map for their other business majors. You can teach finance to virtually any major fairly easily (which is how those Ivy League liberal arts grads end up getting hired by Wall Street investment banks based on prestige), but accounting skills are pretty hard to learn on the job.

Source: I was a finance major at Illinois. Unless my kids get into an Ivy-level school (where your major doesn't matter), I'd highly recommend them to major in accounting if they want to be a business major in the future (or, even better, major in computer science or engineering and get an MBA later on). It didn't ultimately end up mattering in my personal situation since I went to law school, but accounting is definitely more useful for the vast majority of students (e.g. the people that aren't going to Harvard/Wharton/Stanford).
03-17-2017 04:00 PM
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nzmorange Offline
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RE: Best conference-Big 10 according to JofA
This ignores class sizes. Large schools that skew towards grad degrees (i.e. MBA programs) have a huge edge when looking at raw numbers.

The more students a school has, the more grads in any capacity it can expect to have moving forward. That's especially true for masters level business courses that are 1-2 years vs ~4 years for bachelor programs. Also, masters-level business degrees are required to move up in some industries, like finance, which creates a second bias.

The B1G consists of huge schools w/ more of an emphasis on masters programs than the schools in most other conferences.

Calling it the biggest is probably a more accurate title.
(This post was last modified: 03-17-2017 05:21 PM by nzmorange.)
03-17-2017 05:15 PM
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nzmorange Offline
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RE: Best conference-Big 10 according to JofA
(03-17-2017 04:00 PM)Frank the Tank Wrote:  
(03-17-2017 01:24 PM)MplsBison Wrote:  Wait a second, I thought accounting and finance were different beasts?

Accounting, I think of a nerdy guy sitting at a desk with a calculator and a spreadsheet.

Finance, I think of Wall St guy in a suit, making huge money with inside information, then charging $1000 in sushi to the company expense card.

Uh, accounting IS finance. The Wall Street investment bank-type jobs that most people think of as "finance" constitute a tiny percentage of finance jobs. At the same time, financial trading firms actually want computer science and engineering grads more than business school grads today since programming is such a huge part of that field now. Otherwise, the vast majority of corporate finance jobs require a lot of accounting skills.

Let's put it this way: accounting is to finance as coding is to tech. There might be some tech jobs out there where you don't need coding skills and there might be some finance jobs out there where you don't need accounting skills, but those are few and far between. It's not an accident that even middle tier colleges still have generally good placement for accounting majors while they're all over the map for their other business majors. You can teach finance to virtually any major fairly easily (which is how those Ivy League liberal arts grads end up getting hired by Wall Street investment banks based on prestige), but accounting skills are pretty hard to learn on the job.

Source: I was a finance major at Illinois. Unless my kids get into an Ivy-level school (where your major doesn't matter), I'd highly recommend them to major in accounting if they want to be a business major in the future (or, even better, major in computer science or engineering and get an MBA later on). It didn't ultimately end up mattering in my personal situation since I went to law school, but accounting is definitely more useful for the vast majority of students (e.g. the people that aren't going to Harvard/Wharton/Stanford).

Accounting has the highest starting salary (and probably placement) for any mainstream business major.

All that said, it's the most capped profession in that raises are disproportionally low, and the other mainstream majors tend to outpace it in the long run. In short, unless you actually really like to account, it's a terrible first major, but it's a great second major.
03-17-2017 05:19 PM
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MKPitt Offline
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RE: Best conference-Big 10 according to JofA
Very impressive from Penn. They just moved up into a tie with Harvard for best business school according to US news as well.
03-17-2017 05:30 PM
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dbackjon Offline
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RE: Best conference-Big 10 according to JofA
(03-17-2017 05:19 PM)nzmorange Wrote:  
(03-17-2017 04:00 PM)Frank the Tank Wrote:  
(03-17-2017 01:24 PM)MplsBison Wrote:  Wait a second, I thought accounting and finance were different beasts?

Accounting, I think of a nerdy guy sitting at a desk with a calculator and a spreadsheet.

Finance, I think of Wall St guy in a suit, making huge money with inside information, then charging $1000 in sushi to the company expense card.

Uh, accounting IS finance. The Wall Street investment bank-type jobs that most people think of as "finance" constitute a tiny percentage of finance jobs. At the same time, financial trading firms actually want computer science and engineering grads more than business school grads today since programming is such a huge part of that field now. Otherwise, the vast majority of corporate finance jobs require a lot of accounting skills.

Let's put it this way: accounting is to finance as coding is to tech. There might be some tech jobs out there where you don't need coding skills and there might be some finance jobs out there where you don't need accounting skills, but those are few and far between. It's not an accident that even middle tier colleges still have generally good placement for accounting majors while they're all over the map for their other business majors. You can teach finance to virtually any major fairly easily (which is how those Ivy League liberal arts grads end up getting hired by Wall Street investment banks based on prestige), but accounting skills are pretty hard to learn on the job.

Source: I was a finance major at Illinois. Unless my kids get into an Ivy-level school (where your major doesn't matter), I'd highly recommend them to major in accounting if they want to be a business major in the future (or, even better, major in computer science or engineering and get an MBA later on). It didn't ultimately end up mattering in my personal situation since I went to law school, but accounting is definitely more useful for the vast majority of students (e.g. the people that aren't going to Harvard/Wharton/Stanford).

Accounting has the highest starting salary (and probably placement) for any mainstream business major.

All that said, it's the most capped profession in that raises are disproportionally low, and the other mainstream majors tend to outpace it in the long run. In short, unless you actually really like to account, it's a terrible first major, but it's a great second major.


It's a great first major, because you can start well, and then go for your MBA if desired.
03-17-2017 05:30 PM
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MplsBison Offline
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RE: Best conference-Big 10 according to JofA
(03-17-2017 05:15 PM)nzmorange Wrote:  This ignores class sizes. Large schools that skew towards grad degrees (i.e. MBA programs) have a huge edge when looking at raw numbers.

The more students a school has, the more grads in any capacity it can expect to have moving forward. That's especially true for masters level business courses that are 1-2 years vs ~4 years for bachelor programs. Also, masters-level business degrees are required to move up in some industries, like finance, which creates a second bias.

The B1G consists of huge schools w/ more of an emphasis on masters programs than the schools in most other conferences.

Calling it the biggest is probably a more accurate title.

Not so fast.

The problem with your counter-argument is that you assume all students enrolled in MBA programs have equal potential to reach the upper echelon of executive finance, the CFO position.


But actually, there are really a finite set of such people with that potential.

And it so happens that those upper crust students are choosing Big Ten MBA programs more than any other! The numbers prove it.
03-17-2017 05:30 PM
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nzmorange Offline
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RE: Best conference-Big 10 according to JofA
(03-17-2017 05:30 PM)MplsBison Wrote:  
(03-17-2017 05:15 PM)nzmorange Wrote:  This ignores class sizes. Large schools that skew towards grad degrees (i.e. MBA programs) have a huge edge when looking at raw numbers.

The more students a school has, the more grads in any capacity it can expect to have moving forward. That's especially true for masters level business courses that are 1-2 years vs ~4 years for bachelor programs. Also, masters-level business degrees are required to move up in some industries, like finance, which creates a second bias.

The B1G consists of huge schools w/ more of an emphasis on masters programs than the schools in most other conferences.

Calling it the biggest is probably a more accurate title.

Not so fast.

The problem with your counter-argument is that you assume all students enrolled in MBA programs have equal potential to reach the upper echelon of executive finance, the CFO position.


But actually, there are really a finite set of such people with that potential.

And it so happens that those upper crust students are choosing Big Ten MBA programs more than any other! The numbers prove it.

1. No. I'm assuming that a 1-2 year program is shorter than a 3-5 year program. Therefore a 100 person undergrad program that lasts 3-5 years will produce fewer grads than a 100 person grad program that lasts 1-2 years.

2. False. That would be the Ivy League.

Like I said. The B1G is big.
03-17-2017 06:00 PM
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