A Master’s degree in accounting opens the doors to job and career opportunities in a number of fields. All business ventures and organizations have a need for professional accountants and while there are job opportunities in accounting for those with undergraduate degrees, for those who purse a Master’s degree in accounting there is opportunity for advancement and entry into professional positions within government and university organizations. Most accounting jobs require a minimum of a two-year degree but most encourage a four-year degree or beyond for consideration to management or senior level positions. A Master’s degree in accounting is a good investment for those seeking advancement with their current employer or seeking to launch out into an entrepreneurial endeavor.
Job opportunities for those with master’s degree in accounting are often professional level positions requiring specialization or certification in specific areas. The level of expertise and professional recognition that comes with a master in accounting background also gives you an advantage over accountants with an undergraduate degree.
Some examples of jobs available with a master’s in accounting, degree includes:
Auditors– Auditors are hired to examine accounting statements for a wide variety of companies and organizations. As an auditor, you may work independently or be part of a large auditing firm. A company may hire internal auditors to monitor their accounting and help determine how to manage their spending efficiently. External auditors usually work to monitor financial records for several companies or organizations at once. Often external auditors are called to ensure a company or organization complies with reporting regulations. The Securities and Exchange Commission hires only certified public accountants and those who have a master’s in accounting are eligible for CPA designation and certification.
Government Accountants – If you have a background that includes a master’s in accounting there are positions within government agencies that depend on accountants to help monitor their budgets, and look ahead to how much money is expected from future fees, taxes, or specific revenue sources.
Public Accounting –Entry-level Public Accountants focus on general tax functions, such as auditing for private clients on their own or as part of a large auditing firm. With a master in accounting and several years’ worth of experience and you have the potential to assume more responsibility that may lead to a senior management position or the knowledge and confidence to launch out and open your own firm.
Management Accountants- Management accountants often begin with a minimum of a bachelor’s degree and at least two years of experience trainees, junior auditors, or costs accountants. Those who wish to advance within their organizations investigate masters of accounting programs to prepare for specialized licensing or certification. With the an advanced degree available from some masters of accounting programs senior management accountants are eligible to move into positions as financial vice presidents, treasures, or controllers.
Specializations within Public and Private Accounting – There are opportunities within the accounting field for specialization in many different areas. Since any business field, organization, or nonprofit group has a need for professional accounting services, motivated individuals can combine a professional accounting career with other outside interest such as charitable organizations or healthcare services. A masters of accounting program can offer general accounting preparation or focus on specialized areas. With a little research, you can find a program to support your vision and career goals for specializing in the public or Private Accounting sectors.
While the salaries for accountants with Associate or Bachelor degrees average in the range of $35-$47,000, those with a Master’s degree in Accounting receive the highest starting salaries for positions such as Accounting engineers or Directors of Accounting with salaries ranging from $68,000 to over $200,000 depending on individual experience, education, and credentials. Salary ranges also depend on the size and location of the company or organization.