Accounting Education and Career Guide

• Overview
• Degrees
• Associate Degree in Accounting
• Bachelor's Degree in Accounting
• Master's in Accounting
• Accounting MBA
• Job Description
• Salaries

Who should earn a master's degree in accounting?

Many different types of students and professionals can enroll in an accounting master’s program, including recent graduates of bachelor’s programs, working professionals that already have experience in the field and people who may be switching careers.  

“If you are interested in becoming a professional accountant or desire to earn industry certifications, a master’s degree in accounting is the best path to take toward achieving your goals,” Acolatse said. “For example, if you want to pursue a professional certification like the Certified Public Accountant (CPA), obtaining your master’s degree is recommended since to acquire your license, you must have a bachelor’s degree plus an additional 30 credit hours.”  

Even if you don’t want to be a CPA, a master's degree can still be beneficial. 

“On the other hand, if certifications are not a part of your career plan, a master’s degree can better prepare you for specialized areas such as taxation, auditing, forensic accounting and financial analysis. Looking to move up into top leadership positions, the master’s degree can be a plus in demonstrating your commitment to continuous learning which also can show that you are trainable.” 

Benefit #1: Expand your job prospects

Earning a master’s degree in accounting could broaden your job prospects. Managerial and senior-level roles may require a master’s degree to qualify, but even if it’s not required, a master’s degree could make you a much more desirable job candidate.  

“One exciting point to note about career opportunities in the accounting profession is that students are not limited to specific industries or accounting fields! Accounting is much more than ‘crunching numbers’ or ‘running reports.’ Graduates of master’s degree programs in accounting have a wide range of choices for career paths,” Acolatse said.  

Depending on their skills, experience and career goals, Acolatse said these are some of the job titles and roles they may pursue:  

Benefit #2: Increase your earning potential

Although this benefit may be implied given that a master’s degree in accounting could lead to more advanced jobs with more responsibilities, it’s still worth noting that a master’s degree could command higher salaries.  

Data from the U.S. Bureau of Labor Statistics (BLS) continues to show that people with more education tend to earn more. In their most recent report, the median annual weekly earnings for people with a bachelor’s degree alone was $1,493, but that figure increases to $1,737 for master’s degree holders. That comes out to over $12,000 more per year.  

Benefit #3: Opportunity to specialize

One of the great things about graduate school is that it’s a chance to get exposed to different niches and specializations within a given field. Unlike bachelor’s degrees which tend to have broad curriculums and require you take lots of general education courses, you get to take a deeper dive into the subject matter at the graduate level.  

Some of the accounting specializations you may learn about in a master’s program and want to pursue in your career include:  

• Forensic accounting: Examining financial records for fraud and other financial misconduct related to criminal investigations  
• Taxation: Become an expert at understanding complex tax regulations for businesses and other organizations   
• International accounting and finance: Understand international accounting standards for governments, international businesses and more

Acolatse said that the Master of Professional Accounting (MPA) program at CSU Global provides students the chance to specialize in five different areas depending on their career goals:

• Data analytics  
• Fraud investigations & forensic accounting 
• Auditing & assurance 
• Taxation 
• Professional accounting

Benefit #4: Can help earn industry certifications

Professional certifications can be hugely advantageous in the finance field. They demonstrate a unique skill set and validate someone’s education and professional experience, which many employers like to see.  

Most certifications require candidates to complete a combination of education and experience and then pass a certification exam. Certifications each have their own individual requirements, but many require a bachelor’s degree or higher to qualify. Those with a master’s degree may find it easier to satisfy these minimum education requirements.  

Consider, for example, the requirements to become a CPA. Most states require that to qualify for CPA licensure, candidates must complete at least 150 semester hours of higher education in an accounting concentration. Bachelor’s degrees are typically only 120 semester hours, so you’d still be short with a bachelor’s degree alone. Earning a master’s degree, however, would easily put you over the educational requirements.

Benefit #5: Change careers with ease

People switch career paths all the time. Sometimes people switch to something that’s still fairly similar to their old job, while others make a drastic change and start fresh in an entirely new field. This can be challenging—especially for the latter group—if you have a degree that’s not very applicable to the new job you want.  

That’s where a master’s degree in accounting can come in. If you already have a degree in another area but want to make the switch to a career in finance, a master’s degree can fill in those knowledge gaps and prepare you for a seamless transition into the field.