CAREER GUIDE Master of Science, Accounting

Although many entry-level accounting and auditing jobs only require a bachelor’s degree, earning a master’s degree and receiving a Certified Public Accounting (CPA) certification opens a host of new career options in a field that is experiencing steady growth and consistently strong demand. In many organizations, a master’s degree in accounting enables lower- and mid-level accountants and auditors to advance into higher-level positions. Some businesses—especially large, established investment and accounting firms—also prefer to hire applicants with master’s degrees over those with bachelor’s degrees. As a result, earning a master’s degree in accounting from an accredited university provides a strong foundation for top corporate, public, and government accounting jobs at the best firms. It can also provide the hours and preparation necessary to pass the CPA, Certified Management Accounting (CMA), and Certified Internal Auditor (CIA) exams.

The United States Bureau of Labor Statistics projects that demand for accountants and auditors will remain strong through 2026, with growth that outpaces other careers in the financial sector and the average for all occupations. To some extent, this growth will be linked to the overall economy. As companies grow and go public, they will need more accounting professionals to handle complex financial documentation. In addition, a trend toward stricter laws, new regulations, and tighter lending standards will drive the need for more accounting and auditing services.

Thanks to consistently high demand, accountant salaries are rising quickly. In 2017, the average annual accounting salary was $69,350, up from around $60,000 in 2006.  However, people in higher-level executive accounting positions like chief financial officer, vice president of finance, and corporate controller can earn much higher salaries.