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What is the 150-Credit Requirement and Why Should I Consider Earning It?
What is a CPA?
A CPA is a Certified Public Accountant who is licensed by a state board of accountancy. The CPA certification allows professionals to advance to senior level and managerial positions, often early in their career, and offers many other benefits.
To earn the prestige associated with the CPA license, you must follow the 3 E’s: Education, Exam, and Experience. You are required to demonstrate knowledge and competence by meeting (1) high educational standards, (2) passing the Uniform CPA exam* and (3) completing a specific amount of general accounting experience.**
* Expectations by firms are that you pass the exam within 2 years of full-time work, offering bonuses and incentives to do so.
**Each state has its own rules and regulations for CPA Exam & Licensure requirements. Find your board of accountancy here.
What is the 150-credit requirement?
If you want to pursue a career in public accounting, you need to complete 150 credits to:
- Begin working full-time with a Big 4, national, or large public accounting firm
- Become licensed as a CPA in your state
Massachusetts CPA License Requirements:
- Complete 150 credits: Need 30 credits in accounting: ACCT 221/222, 3 Internship credits, ACCTG Honors Courses and ISOM 597 count towards 30 credits
- Pass Exam (4 parts)
- 2000 (one year) of supervised audit work
Be sure to check individual state requirements (aicpa.org)
“150 Firms” include Big 4, national, or large regional firms: BDO, Deloitte, Ernst & Young, Grant Thornton, KPMG, RSM, BDO Seidman and PricewaterhouseCoopers
“120 Firms” Regional Firms will hire candidates at 120 credits with the expectation that individuals will earn 150 and pass the CPA Exam
How Do I Obtain 150 Credits?
150 credit hours is equivalent to 5 years of higher education. It can be accumulated in different ways:
- 4 years of bachelor + 1 year of master’s degree, typically in accounting
- 4 years of bachelor with accelerated undergraduate program covering 150 credit hours
- 4 years of bachelor + 30 credit hours of non-degree courses in any subject (take courses in local community colleges or through CLEP)
Typical Isenberg Path to 150:
- Master of Science in Accounting (MSA)
- Gets you to 150 WITH a professional credential
- Provides context and supports success in CPA Exam
- Meets certification requirements in all 50 US States
- Dual Degree
- A dual degree earns you two separate bachelor’s degrees simultaneously by completing a minimum of 30 additional credits beyond those normally required to graduate
- Requires 150 credits taken in consecutive semesters, completing the requirements of both majors, and completing the College requirements of both majors, if in different colleges
- Student must obtain formal clearance from an authorized representative
Early Action Steps:
- Make an appointment with a Chase Career Center Coach to create your 150-plan and discuss recruiting timelines
- Based on your estimated 150 completion date, you can insert an externship and internship into your timeline
- Keep in mind: Internships occur typically 2 years from the beginning of a full-time start date with public accounting firms that require 150 at start date.
- Recruiting occurs in the Fall semester or in the Spring semester during an early recruiting process for internships that would occur in the following calendar year.
- Bring your 150-plan to an academic advisor to outline your academic plan by semester
- Consider participating in the Semester in the Profession (SIP) Program to gain valuable professional experience while staying on track for graduation and getting paid
FAQs:
Do I need the 150-credits to sit for the CPA Exam?
No. The CPA Exam eligibility requirements for Massachusetts state that you must have completed 120 of the 150 semester hours from a nationally or regionally accredited institution as required for licensure certification, or complete 120 of the required 150 semester hours within 90 days of sitting for the examination. These hours should include 21 semester hours of accounting courses including coverage in: financial accounting, auditing, taxation, management/cost accounting AND include 9 semester hours of business courses including coverage in: business law, finance, information systems, AND obtain a bachelor’s degree.
Should I pursue a CPA if I do not plan to work in public accounting?
It depends. There are many areas to explore outside of public accounting such as private/corporate accounting, non-profit accounting, government accounting, etc. View our Career Insights Resource and Vault Guide to Accounting Jobs for a list of various job titles and paths for Accounting majors. Although a CPA license is not required for non-public accounting roles, accountants with a CPA gain many benefits. The benefits include a highly recognized and prestigious title, career development and security, monetary benefits, and endless growth opportunities. If you aspire to one day become a CFO or Controller, a CPA license is a means to get you there.
CPA License & Exam Resources:
