Masters in Accounting Online Degree Programs for 2022

Master's Degree in Accounting Career Options & Salary

Higher education and advanced degrees are becoming more and more the norm in nearly every profession. While accountants and auditors have many opportunities for professional certificates or even state licensure (such as the certified public accountant (CPA) certificate), master's degrees in accounting can be irreplaceable. In fact, an online or in-person MS in accounting degree program or MBA in accounting program can even help facilitate graduate's ability to sit for the CPA exam, since they must have a bachelor's and a number of extra credit hours beyond that, and become licensed as certified public accountants and open other avenues to success in their accounting careers. This page is dedicated to the many ways an online or in-person master's in accounting program can help you create the career of your dreams without pushing you to leave your current career.

These programs can also cover a variety of niche subjects for those who have a vision of where they want their courses and accounting master's degree program to take them in terms of their accounting careers:

  • Auditing
  • Corporate, Public Accounting
  • Financial Accounting
  • Financial Reporting
  • Forensic Accounting
  • Managerial Accounting
  • Accounting Information Systems

PROS

    Master's degrees in accounting have plenty to offer a working professional in terms of improving their employment prospects, even if they already have plenty of work experience. One of the chief reasons people choose to pursue an online master's in accounting programs or a Master of Accountancy (Macc) is that they almost immediately find new opportunities for employment. Not only might your current employer consider you for a promotion, but you might find that recruiters start buzzing around your door, as well. On top of this, you are likely to expand your network through your classmates (though this might be easier with a hybrid -online and in-person courses- rather than a fully online program) and your school's alumni network may also provide new employment opportunities.

    Another benefit of a graduate degree is that you could someday use those credentials to teach at the college level. This might come later after you retire from your primary career, but your master's plus ample work experience could result in a permanent position with a local or online college.

CONS

    While an accounting master's degree has much promise, there are also possible negative aspects to consider of a master's program. One of the chief negatives is the possibility that the degree won't pay off as you expect. Indeed, there is no guarantee that your new accounting credentials will result in a significant pay increase or promotion. Thus, you might consider performing a risk/reward analysis to determine if it really is worth it.

    Your analysis should factor in all of the downsides, including the time it takes to complete a degree, the career and family sacrifices along the way, and the inevitable debt load at the end. While most accounting master's programs are designed to take no more than three years, and online programs are more likely to offer accelerated options, consider if you can fulfill that full-time schedule or if you would need to attend part-time. It's also important to consider your family and whether full-time school will affect your ability to meet their expectations as well. After you factor all of these things into your analysis, you might determine that a master's in accounting or MBA in accounting is not worth it after all. On the other hand, you may discover ways to manage your obligations in a new way that facilitates higher education or work your way toward your degree more slowly and/or economically. This might mean taking an online master's degree or another option.

Overview of an Online Master's in Accounting


What Online Accounting Master’s Degrees are Available?


Accountants have several options available for their graduate studies. If you are ready to consider upgrading your credentials, take some time to determine exactly which degree will suit your long-term goals.

MBA with a Specialization in Accounting (MBA): This degree will steep you in a core business curriculum and then allow you to specialize in your true focus: accounting. The MBA is a great choice if you are aiming at upper management, including the C-suites.

Master of Arts in Accounting (MAcc): If your studies are weighted to include coursework in business law, management, or economics, you could be conferred an MA in Accounting.

Master of Science in Accounting (MSA): An MSA degree program is one that keeps its focus on accounting, information technology, and financial analysis. That is, an MSA does not include many, if any, courses from the humanities curriculum. Your degree will have a laser-focus on quantitative analysis.

Master of Healthcare Administration with a Specialization in Accounting (MHA): If you've already landed a job in the healthcare industry, you may wish to pursue an MHA. The curriculum will include a core group of healthcare management courses, but then you can major in accounting as it pertains to healthcare.

Admission Requirements


Admission's requirements for your online master's degree in accounting can vary widely. However, you will want to provide an application packet that includes your practical accounting experience in addition to your academic background, including your undergraduate GPA. You should provide a transcript from a nationally accredited business school and proof of any certifications or licenses you have achieved, including a CPA license. You should strive to submit transcripts with the highest possible GPA, as most schools will need to see a minimum GPA of 2.5 or above to admit you. You will also need to provide GRE scores that meet the program's standards, provide letters of recommendation, and possibly an entrance essay.

How long does it take to earn an online Accounting Master’s?


If you attend full-time, you can complete a master's degree in accounting in as little as twelve months. Other programs, such as an MBA, might take longer – up to two years or more. You can always take more time if needed, but most online and on-campus programs have restrictions on how long you can take. For that reason, try to make education your priority. Attend classes on a full-time basis and make sure to do loads of networking at departmental parties. After all, no one can ever take your education from you, and it just might be the ticket to a far brighter future.

Potential Careers in Accounting with a Master’s


  • Investment Banker – Associate:
    It's practically unheard of to reach the Associate level in investment banking without a master's degree, preferably an MBA from a top-10 school. This field is very competitive and hardworking, but you'll find that the median salary of $80,200 is supplemented with a healthy annual bonus. If you work hard and are successful as an associate, you will likely move into a V.P. position before you know it.
  • Chief Financial Officer:
    Most C-level positions require a master's level degree on top of a strong track record. You might consider attaining a CPA license or certificate (if state rules provide for a certificate) on top of your graduate degree. CFOs are frequently well compensated. Median salary for a CFO is $136,100, before benefits and bonus.
  • Management Consultant:
    Many fresh graduates decide to work for a management consulting firm for a period after their schooling is over. This field not only pays well but will also provide you with the experience you need to decide where you would like to focus your professional energies. On the other hand, many graduate degree holders make consulting their life's work. Consider that the median salary, before benefits and bonus, is $87,700.
  • Forensic Accountant:
    This is an exciting field for those who love solving puzzles and creating solutions for a range of clients that spans from law enforcement investigators to divorce attorneys. Now that white collar crime is gaining more attention, the field for forensic accountants is growing. With a master's degree in accounting, plus a certificate or two, you are looking at a field that boasts a median salary of: $69,300.
  • Financial Planner:
    If you are fascinated with finance and wish to help people turn their savings into true wealth, this path may be for you. Though you can join this profession with an undergraduate degree and a Series 7 license, a Master's degree in Accounting will give you the credentials you need to land top clients. Though median salary for this profession is $63,400, the sky is the limit for a top accountant.

Options to Advance


It's almost a guarantee that your online Master's degree in Accounting will provide ample opportunities for advancement. No matter which specific degree path you choose, your employers or clients are bound to attach real financial value to your added knowledge and skill. The business community looks approvingly on graduate degrees, so your status will immediately rise as soon as you graduate.

In fact, some job descriptions, such as an Investment Banking Associate, require an online master's degree. You will also find it hard to reach the C-suites without a master's degree. That's because today's business climate needs professionals who have verified skills on top of experience.

Beyond traditional employment, your online master's degree may help you hang your own shingle. If you have an entrepreneurial spirit, bankers are more apt to loan money to those with graduate degrees than those without. Plus, your business proposal will be all the more professional after you've completed a graduate program. No matter if you're starting a tax consultancy or a manufacturing business, your graduate degree will pave the way to success.

What are the Best Online Masters in Accounting College Programs?


1

University of North Carolina at Chapel Hill

  • Net Price: $10,038
  • Retention Rate: 95%
  • Graduation Rate: 91%
  • Total Enrollment: 30,092
  • Undergrad Students: 19,395
  • Graduate Students: 10,697
  • Diplomas Awarded: 230
  • Grads Salary: $71,800
  • Student-to-faculty: 13:1
  • University of North Carolina at Chapel Hill
2

Purdue University

  • Net Price: $12,294
  • Retention Rate: 93%
  • Graduation Rate: 83%
  • Total Enrollment: 46,655
  • Undergrad Students: 35,706
  • Graduate Students: 10,949
  • Diplomas Awarded: NA
  • Grads Salary: $77,300
  • Student-to-faculty: 13:1
  • Purdue University
3

University of Maryland

  • Net Price: $17,643
  • Retention Rate: 95%
  • Graduation Rate: 87%
  • Total Enrollment: 40,709
  • Undergrad Students: 30,875
  • Graduate Students: 9,834
  • Diplomas Awarded: 91
  • Grads Salary: $78,200
  • Student-to-faculty: 17:1
  • University of Maryland
4

North Carolina State University at Raleigh

  • Net Price: $14,600
  • Retention Rate: 94%
  • Graduation Rate: 84%
  • Total Enrollment: 36,304
  • Undergrad Students: 25,973
  • Graduate Students: 10,331
  • Diplomas Awarded: 117
  • Grads Salary: $75,000
  • Student-to-faculty: 14:1
  • North Carolina State University at Raleigh
5

Rutgers University-Newark

  • Net Price: $13,832
  • Retention Rate: 87%
  • Graduation Rate: 65%
  • Total Enrollment: 13,605
  • Undergrad Students: 9,319
  • Graduate Students: 4,286
  • Diplomas Awarded: 149
  • Grads Salary: $79,100
  • Student-to-faculty: 16:1
  • Rutgers University-Newark
6

Michigan State University

  • Net Price: $16,655
  • Retention Rate: 91%
  • Graduation Rate: 81%
  • Total Enrollment: 49,695
  • Undergrad Students: 38,491
  • Graduate Students: 11,204
  • Diplomas Awarded: 130
  • Grads Salary: $71,900
  • Student-to-faculty: 16:1
  • Michigan State University
7

University of Massachusetts-Amherst

  • Net Price: $22,505
  • Retention Rate: 89%
  • Graduation Rate: 83%
  • Total Enrollment: 31,642
  • Undergrad Students: 24,233
  • Graduate Students: 7,409
  • Diplomas Awarded: 162
  • Grads Salary: $73,500
  • Student-to-faculty: 17:1
  • University of Massachusetts-Amherst
8

George Mason University

  • Net Price: $18,285
  • Retention Rate: 86%
  • Graduation Rate: 72%
  • Total Enrollment: 38,541
  • Undergrad Students: 27,104
  • Graduate Students: 11,437
  • Diplomas Awarded: 72
  • Grads Salary: $75,500
  • Student-to-faculty: 17:1
  • George Mason University
9

University of St. Francis

  • Net Price: $16,761
  • Retention Rate: 81%
  • Graduation Rate: 60%
  • Total Enrollment: 3,529
  • Undergrad Students: 1,627
  • Graduate Students: 1,902
  • Diplomas Awarded: NA
  • Grads Salary: $79,200
  • Student-to-faculty: 13:1
  • University of St. Francis
10

University of Arizona

  • Net Price: $15,620
  • Retention Rate: 85%
  • Graduation Rate: 65%
  • Total Enrollment: 45,601
  • Undergrad Students: 35,357
  • Graduate Students: 10,244
  • Diplomas Awarded: 11
  • Grads Salary: $75,000
  • Student-to-faculty: 15:1
  • University of Arizona
Full Ranking Report

sources:

Business Degrees & Career Paths