I completed an MBA with a specialization in Finance in 2005 from a state university and a bachelor of business administration degree in general business in 2004, both with a perfect 4.00 grade point average. At the time, finance was an in-demand field. After I graduated, I got a job with a manufacturing plant, but was laid off 3 years later in 2009 when the economy collapsed. Now, I cannot find a job with my current degree and experience. It is now apparent that the ONLY business degree worth having is an accounting degree. Even jobs in fields other than accounting require an accounting degree. For all those people who earned business degrees in finance, management, marketing, MIS, or economics, they are probably working as cashiers at Wal-Mart. In fact, the ONLY college degrees that will help anyone get a job right now are in Accounting, Engineering, or nursing. Any other degree is now worthless.

I am ready to accept the mistakes I made in life and want to correct those mistakes. I want to go back to college for an accounting degree, but this presents a few problems. First of all, going back to college will wipe me out financially and drive me into debt, which means I will be over 30 years old with a net worth in the hole. Secondly, after I complete an additional degree in accounting, potential employers will ask “and how many YEARS have you been employed as a PROFESSIONAL degreed accountant”. I’ll say I’ve never been employed as a degreed accountant because I just earned my accounting degree. That’s not good enough, and someone else among the hundreds of others fighting for the same job I want will surely exceed my qualifications.

What should I do? Should I just wait and hope that someday the economy will recover and there will once again be jobs available for people without a degree in accounting, engineering, or nursing? If so, that surely is a long time to wait for your next paycheck. Should I spend my entire savings and more to go back to college for an additional degree?
What will the value of an accounting degree be in a few years when I graduate again? Will the value be depleted to nearly nothing in the job market? I also have to consider the rising cost of college. The most affordable university is over $10,000 per year. Back when I was a young man in 2005, this cost was only $7,000. Other schools have risen even more. It seems the value of a college degree continues to decline (rapidly) while the cost of that college degree continues to rise (rapidly). Is this the only answer to my problem? Is a degree in finance now really worthless?

Any advice would be appreciated!

i disagree. I have an economics degree and I have a great job in economic developent and will have a future in business consulting and project management. My advice is to do something noone else will do to obtain the position you want. When i got this job i went to an economic development organization and told them i'd work for free. I didnt get that job but i took that experience to the interview and thats what set me apart...keep your head up and things will get better God bless