Accounting Masters Degrees

Even though the accounting field is expected to have tremendous growth, the Bureau of Labor Statistics predicts that candidates with a master's degree should have the best job opportunities. Not only does the advanced credential signal more specialized knowledge, it also helps qualify you to become a Certified Public Accountant (CPA).

How a Masters Degree in Accounting Can Help You

In order to file a report with the Securities and Exchange Commission, you must be a CPA. To earn this advanced certification, 46 of the 50 states require you to complete 150 hours of college coursework (the typical four-year bachelor's degree is only 120 hours). For this reason, many schools offer a five-year program that combines your bachelors and masters accounting degrees. Your courses can help prepare you for the rigorous four-part CPA examination; however, you'll need to study hard, since less than 50 percent of the people who take the test pass all of it on the first try. Fortunately, after you pass the first section; most states give you 18 months to pass the remaining three sections.

Salary Expectations After Earning Your Masters Degree in Accounting

The median salary for all accountants is $60,340, but people who have a master of accounting degree can often earn more. The top 10 percent of accountants made over $104,450 in 2009. Your master’s degree can also help you compete for the higher paying jobs, such as with the federal government, where accountants had a mean annual salary of $88,190.

Job Outlook with a Masters in Accounting

Employers may prefer to hire someone with a master’s degree in accounting over someone who only has a four-year degree, giving you better job prospects. And overall, the field of accounting should grow by 22 percent from 2008-2018, creating approximately 280,000 new jobs.