Trying to find an answer, Accounting (CPA) or Dentistry

[seji]

I need to decide on whether it is better for me in my situation to become an accountant or a dentist.

I have decided on these two professions after considering many others. My reasons for pursuing dentistry are not purely monetary as I have personal reasons to that I do not want to go into now, so please don't question my intentions. One of the reasons I choose these careers is to be financially independent, I have seen a lot of debt in my life (not personally but from other people, and I can't take it living in red all the time and dealing with that stress).

My dilemma is that I'm about to graduate from college, and I could choose to take accounting courses, or the prerequisites to dental school.

If I choose the accounting route, I would take courses to fulfill at my university to sit for the CPA, and hopefully work for the big 4 and go work for larger companies later, the common route usually taken by CPAs at Big 4. The downside is that I might not make it into the big 4.

If I choose dentistry, I would take some of my prereqs at my university now, but due to money issues I would have to take the rest at a community college or state university. The downside is that I lose my opportunity at taking the accounting courses, but I will be finishing some prereqs.

This is all backstory. The question I'm asking is do I really have a chance at dental school if i try. My degree is in the liberal arts, 3.4 gpa with community college. Dentistry is looking really favorable to me, but I'm worried that I really have no chance with my stats (at times I feel delusional at me even thinking I could be a dentist), the number of students applying, etc etc.

For that reason, I'm contemplating accounting, because the Big 4 recruit at my school heavily, and i need to decide soon whether or not to take the courses to not go over units. I'm hesitant about accounting as compared to dentistry, because of the long hours, and grueling work in the workplace. But I will be financially independent sooner, and I don't need to work for the Big 4 forever, but I don't believe that the hours will get even better as compared to the hours of a dentist.

Don't get me wrong, I'm willing to work, but the work of a dentist making an impact in people's lives really gives me a more accomplished feeling as compared to an accountant. I also can take things really personally if hard work isn't appreciated, and in accounting, I hear that doesn't happen enough in large firms. I've asked many other for advice, and most say "do what you love" but between these two they say accounting because it is safe and stable.

I don't know. Are there any people who changed careers here from beinga CPA who can give me some advice? Some things I should think about. It would really help if you could give me your thoughts.

Thanks

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[Doctor Thriller]

I need to decide on whether it is better for me in my situation to become an accountant or a dentist.

I have decided on these two professions after considering many others. My reasons for pursuing dentistry are not purely monetary as I have personal reasons to that I do not want to go into now, so please don't question my intentions. One of the reasons I choose these careers is to be financially independent, I have seen a lot of debt in my life (not personally but from other people, and I can't take it living in red all the time and dealing with that stress).

My dilemma is that I'm about to graduate from college, and I could choose to take accounting courses, or the prerequisites to dental school.

If I choose the accounting route, I would take courses to fulfill at my university to sit for the CPA, and hopefully work for the big 4 and go work for larger companies later, the common route usually taken by CPAs at Big 4. The downside is that I might not make it into the big 4.

If I choose dentistry, I would take some of my prereqs at my university now, but due to money issues I would have to take the rest at a community college or state university. The downside is that I lose my opportunity at taking the accounting courses, but I will be finishing some prereqs.

This is all backstory. The question I'm asking is do I really have a chance at dental school if i try. My degree is in the liberal arts, 3.4 gpa with community college. Dentistry is looking really favorable to me, but I'm worried that I really have no chance with my stats (at times I feel delusional at me even thinking I could be a dentist), the number of students applying, etc etc.

For that reason, I'm contemplating accounting, because the Big 4 recruit at my school heavily, and i need to decide soon whether or not to take the courses to not go over units. I'm hesitant about accounting as compared to dentistry, because of the long hours, and grueling work in the workplace. But I will be financially independent sooner, and I don't need to work for the Big 4 forever, but I don't believe that the hours will get even better as compared to the hours of a dentist.

Don't get me wrong, I'm willing to work, but the work of a dentist making an impact in people's lives really gives me a more accomplished feeling as compared to an accountant. I also can take things really personally if hard work isn't appreciated, and in accounting, I hear that doesn't happen enough in large firms. I've asked many other for advice, and most say "do what you love" but between these two they say accounting because it is safe and stable.

I don't know. Are there any people who changed careers here from beinga CPA who can give me some advice? Some things I should think about. It would really help if you could give me your thoughts.

Thanks

Please do not take what I am about to say personally, but most dental schools at this moment will not take you as a very serious canidate with an 3.4 in liberal arts. You need at least two years of hard sciences (i.e., biology, chemistry, and physics) at a state university with a 19+ AA and TS on your DAT before you can consider dental school to be an option. On the other hand, accounting seems to be a more attainable goal right now since you don't have to go through an admissions process to get into "accounting school", you just take accounting courses. If dentistry is what you want, take the bull by the horms right now and start busting you're balls by taking a heavy load of science courses at a state university and make A's. Thats is my opinion.

 

[Waspy Dreams]

I am a CPA and my dream is to go back to school to become a dentist. Working for a Big 4 is awful and accounting is itself is not fulfilling. As a dentist, you really have the power to make a difference in someone's life.

 

[dl9006]

i have accountant friends and family and there's nothing glamorous about working in the Big 4 and in this economy, i heard many accounting companies are downsizing. as you know, it's stressful work with a lot of overtime and you earn less than a dentist.

community college credits are not highly regarded by the admission committee so i suggest taking university courses and study hard for the DAT to aim for 20+ scores.

good luck with your decision

 

[twinkletoes07]

I'm probably not the best example but I can give you some insight. I started off as a accounting major, I even did an internship and boy it was a miserable suffocating experience, the most exciting part of the day was the free lunch, and occasional travel. Being in the business world is a different animal, you have to have the drive, and a certain personality. Already you should have completed an internship before even thinking about applying for a job with the Big 4.

The situation you are in, fast forward to 9 years and its me, i'm still in limbo about whether I want to pursue accounting or dentistry, only I messed up a lot in undergrad so I will not be able to pursue dentistry most likely. If in the back of your mind you know you want to do dentistry I say go for it because honestly if you don't have the working at the desk mentality, working long hours with insanely mood people you will loath accounting.

If I could go back, because I never finished my undergrad, I would still do my undergrad in Accounting, take out loans to stay extra at the university and finish my dental prereqs. I know a loan sounds awful but once you are all done you will make enough to pay everything back. Why do the accounting degree even though earlier I said its miserable, well because its a safe back-up plan in case( God Forbid)you never get into dental school.

Take advantage of your youth and make the most of your time! Dont worry about not having money while in undergrad, I messed up all my grades in undergrad even got disqualified as resulut of working too much.

Sorry I wrote so much, and I apologize if my English is off, its not my first language, hehehe. Best wishes.

 

[youknowthedrill]

The journey to accounting is the safe path (in the short term), but will you be satisfied in 10 years? The road to dental school is longer, comes with quite a bit of debt, and you won't make any money for a long time. I suggest you shadow your personal dentist and ask him/her about the field and level of job satisfaction. If you know any CPA's, ask them if they like the field. They are two completely different career paths. Also, are you more comfortable working alone with numbers, or are you a people person. I have friends who are accountants and they spend most of their time crunching numbers. They also work longer hours than most dentists. Successful dentists are comfortable talking and putting their patients at ease while they work. Ultimately, you will have to make your own choice.

 

[seji]

thanks for the responses.

I know the path to being a dentist, won't be easy for me. I'm just curious to know if I even have a fighting chance with my grades, considering the number of students and their academic makeup.

Also, for the respondents about accounting, I didn't mean to imply that accounting was a horrible profession. I know that working for the big 4 is tough, but I'm curious about the exit opportunities. I know this isn't the right forum to ask, but the accountants that replied here, aren't there some things you enjoy about your jobs, and doesn't the actual work, pay, work-life balance get better?

Also, I want to know if the cost of tuition for dentistry is becoming really outrageous at the moment? How many years does it take to pay off the debt? And do you owe back double what you take in loans, for example the total cost is 500k and you owe back 1mil of that?

 

[Waspy Dreams]

I have been in the accounting field for 8 years, working in both public and private. Time and time again, I have had to deal with people that are highly unethical. I am not just talking about clients, I am also talking about fellow CPAs. If you have the stomach to deal with those kinds of people, then fine. Personally, I am tired of it. I know that there are bad apples in every profession, but I think that as a dentist, you will have more control over these situations.

Also, be aware that in times of recession, accountants do get laid off, regardless of how talented you are. All of the Big 4 have made serious cut backs.

With regards to moving into private, know that as an accountant, you are an expense. You do not have any revenue making capabilities. You will feel that in your position. You will see that the sales people are pampered and your raises and bonuses will be limited.

In accounting, you can have a satisfying career and make a lot of money. But, there is a lot more competition and the jobs at the top are all based on politics.

As far as your grades, get a masters degree and get all A's in that program. It can be your redemption.

 

[fishyfishy]

Also, I want to know if the cost of tuition for dentistry is becoming really outrageous at the moment? How many years does it take to pay off the debt? And do you owe back double what you take in loans, for example the total cost is 500k and you owe back 1mil of that?

Seji, if you do not want debt for the next 10-15 yrs of your life, dental school should not be an option for you, PERIOD.

School loans depend on where you live. The cheapest California schools are the UC's and they cost ~65K/yr (with living costs) and that equates to ~250K of loans. 250K of loans at the current locked 6.5% means that you will be paying 400K if you pay in 10 yrs (~3.5K/mo) and 800K if you pay in 30 yrs (~1.5K/mo).

Then when you come out, you go to a residency, which either increases the amount you owe in school loans due to accruing interest, or ADDS debt on top of it, if you go to a residency that costs money.

If you don't do a residency, you WILL need your own practice to pay off your loans in less than 30 years... You will never make enough money working as a dental associate (avg salary has DECREASED this year). This adds another 250-400K in private business loans to your debt (typically 7% interest for 7 yrs)

If you want a house, add your mortgage in there too.

If you come out of dental school, you will be VERY VERY VERY in debt. I'd say avg of 4-500K if you went to residency, OR came out of d-school and bought/started a practice. Add interest to this, and you will pay near a million dollars by the time you pay off your loans.

 

[BBSLM]

If you don't do a residency, you WILL need your own practice to pay off your loans in less than 30 years... You will never make enough money working as a dental associate (avg salary has DECREASED this year). This adds another 250-400K in private business loans to your debt (typically 7% interest for 7 yrs)

Quick question: You say that if you dont do a residency then youll need your own practice. What if you do a residency? What do you do upon completion of it; do you not then open your own practice?


The dentists Ive shadowed so far strongly recommended doing a residency, so Im curious how doing so generally affects one's career path.

 

[HookEmBP]

I am a CPA as well and the decision sounds like a no brainer to me. The average dentist lives a much better lifestyle than the average accountant. If you're lucky you can eventually cross the six figure mark, but very few accountants make $150K+ (and those that do usually sacrifice a lot to earn it). No doubt you can get into dental school if it's what you really want. That should be the determining factor here - do you want to be a dentist for the next 30+ years or an accountant?

 

[seji]

I know this is old, but i just want to bump this up one last time and let it die. I think dentistry is a long path vs accounting. I like many aspects of dentistry but the only thing that holds me back is debt and no guarantee of getting in.

With accounting I can work for the big 4 and have exit opp. like consulting and investment banking or real estate management. And it's useful to have this business knowledge to own and run your own business. Is this really true, or is it only true for a select few? People who have friends who are accountants w/ CPAs are welcome to answer.

thanks

 

[SeattleRDH]

You will be DEEP in debt if you become a dentist. Seriously, expect to be half a mil in debt...

 

[LetsGo2DSchool]

Accounting is so boring. I would rather jump off a bridge.

 

[seji]

I'm starting on my path to dentistry, but I'm not used to the idea of debt. I keep thinking the idea of carrying debt is really negative. I can't get used to the idea. How does everyone deal with this?

The tuition of schools gives me headaches every time I think about it, and constant worries about government regulations on dentistry? dentistry ending up like medical fields. Are these concerns common or am I just worrying about nothing?

 

[zoralsurgeon]

Accounting is so boring. I would rather jump off a bridge.

 

[Voltron2010]

In another post someone had asked what can increase income and what can decrease income. I had recommended that everyone considering opening a practice take up a book keeping class at a local community college as a non degree seeking student. If your plan on opening a clinic not only do you need to know Dentistry you need to know how to manage the money, and many dentist I know have no clue where their money is going they make a profit, but are losing money in other areas. I had a friend who opened a clinic she was showing me her stuff I quickly notice something wrong, after looking into it she found out she lost over $70,000. Accounting not all that bad to know. I am a dentist but I take and still take Accounting classes at community colleges.

 

[Contach]

I'm starting on my path to dentistry, but I'm not used to the idea of debt. I keep thinking the idea of carrying debt is really negative. I can't get used to the idea. How does everyone deal with this?

The tuition of schools gives me headaches every time I think about it, and constant worries about government regulations on dentistry? dentistry ending up like medical fields. Are these concerns common or am I just worrying about nothing?

you gotta spend money to make money.
if you ever want to open your practice you'll have to take out a business loan.
if you want to attract more clients (thru external marketing atleast), you'll have to spend money on marketing.
If there weren't risks, everyone would be up for it, and noone would make anything.

yeah it's a risk. But know that student loans are classified as very low risk investments. The powers that be in finances agree that student loans are the safest type of loans, and thus is a whole different debt than what it sounds like you've been exposed to.

It would suck if in 10, 20 or 30 years down the road, you think, "damn I'm stuck in prof x now, if only I could have been prof y... too bad I cut my balls off because i thought i couldn't do it" Well, frankly now is your time to try. I say pick what you want and go for it. It sounds like you know dentistry is better for you, but you want to convince yourself that accounting is just as good because you have a better shot at being an accountant based on your accomplishments up to today. That's a shame.

 

[OneThree]

I work in a business/accounting office part time at my school, and oh man is it boring (and constantly high-stress). I could never imagine doing something like that for the rest of my life.