Why get a Masters Degree in Accounting?

By Susan - Sunday 11 Jan 10:00 am

A degree in accounting is one thing, but obtaining a masters degree in accounting can open up and entire new world of opportunity that is separate to obtaining just an accounting degree.

The results for obtaining your masters degree in accounting might not present themselves immediately, as masters degree holders and accounting degree holders will initially be applying for similar jobs straight after completing their studies. The difference, however, comes in at a later stage. Masters degree in accounting graduates will have a more promising chance of being promoted into more lucrative and sought after positions as opposed to their regular accounting degree counterparts. When opportunities arise within the company that you work for, masters degree in accounting graduates will be at the front of the queue for receiving.

There are some employers who will insist on only interviewing candidates who have their masters degree in accounting. This is entirely dependant on the employer in question, and graduates with accounting degrees instead of masters degrees in accounting should not feel like they will be getting the short end of the stick. It merely states that having your masters can prove to be an advantage for you.

Another reason to obtain your masters degree in accounting is that most people studying accounting want to evolve through towards getting their CPA or Chartered Professional Accountant qualification. You need a certain amount of hours and units before you can reach the stage where you are able to qualify as a CPA, so you might as well use those hours and units by getting your masters degree in accounting. After obtaining your bachelors in accounting, you will need to obtain 30 units of credit to be able to apply for your CPA. Alternatively you will need to work for two years, whichever comes first. By working these years and obtaining these units of credit, you are actually venturing halfway towards getting your masters degree in accounting. It makes sense to continue and get your full masters degree in accounting instead of throwing in the towel halfway and moving towards getting your CPA. That way, time is not wasted and you will be more than qualified in your industry which always counts for a lot when approaching employers for work.

Some students feel that this is unnecessary, as the CPA degree is what you want to get according to them, and a masters degree in accounting is just wasting time along the way. To each his own.

Graduates with masters degrees in accounting will not receive that much more in salary initially when compared to accounting degree holders, although there can definitely be a difference. Again, it is determined by your employer.

In short, it seems like an intelligent and wise decision to move towards obtaining your masters degree in accounting while working towards getting your CPA. With an increase in benefits and job opportunity when compared against a regular accounting degree, a masters degree in accounting will definitely not be wasted and will pay for itself in the long run.

Posted in: College Degrees

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