CPA looking for career advice.

[gobearcats]

I am currently a management accountant and recently minted CPA working for a large, national P&C carrier. My career goals include working as a comptroller/CFO for a smaller, more regional carrier someday. I was looking into obtaining the CPCU designation or a Masters in Finance (I don't think I have the time to do both). If I went the masters route, it would not be from a top 50 biz school, and I just don't know if it is worth it since I already have my CPA. The CPCU Is much more industry specific, but I know it is more geared for producers.

Does anyone here have any suggestions? I have been working for my current company for six years and they pay for all higher Ed expenses so cost is not an issue.

Thanks.

[bjwestner]

You are incorrect. While producers make up a large percentage of those that have the CPCU designation, actually more people in claims and underwriting are CPCU's versus producers based on information on the Institutes website.

I just finished my CPCU earlier this year and highly recommend it.

[NYagent301]

My career goals include working as a comptroller/CFO for a smaller, more regional carrier someday.

I would recommend CPCU if you are looking to stay within this industry, and given the goal of working at a smaller insurance company. Otherwise, I would recommend pursuing a Masters

[paulbennings]

Normally, I would agree. I had the same dilemma and went with the CPCU after getting advice on these boards and from various people I know in the industry. However, since you are working the finance side and not UW or sales or claims, it might make sense to get the Masters:

1. Finance is flexible and the skills there apply to all industries. I know that insurance is a bit different in certain aspects, but you don't need a CPCU to learn those differences.

2. If you have trouble in the future finding a job in the insurance industry, your skills are easily transferable to a company in another industry in need of a finance person. Insurance UWs and salespersons generally don't have such a luxury and would have to rebuild their skill sets.

I will admit that I don't have much experience on the finance side of insurance, so if there are elements I am missing here regarding the required expertise of a finance person in insurance, please let me know.

Also, if you chose the CPCU path, it is nowhere nearly as rigorous or expensive as a Masters, but again, it really depends on what works for you. Just because it is cheaper or easier does not mean it is worthwhile necessarily.

[LadyBroker]

I would wonder why you can't do both? Pesonally, I would do the Masters first, you just got your CPA so you are relatively new to the field(I am guessing that part), I would solidify my base of knowledge there first. Then once you finish your Masters, do the CPCU classes. In the meantime, continue educating yourself in the lingo and trends and jargon of the insurance field, so that the CPUC classes are more relevent to you when you take them.