There are many good reasons you should investigate going to a graduate school and earning an advanced degree in business accounting. A higher education such as a Master of Business typically will give you a competitive edge over other job position applicants, enable you to obtain a higher earnings potential and create opportunities for promotions within your organization. The result of getting a master’s degree in accounting would be an overall more successful career and preparing you for the future.
*Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Financial Managers, on the Internet at https://www.bls.gov/oes/current/oes113031.htm (visited March 24, 2022).
A master’s degree in accounting is designed to take two years to complete. These high learning education programs are designed to help students build higher level skills and knowledge in their particular field of study. Some students can finish in less than two years by either going to summer school or getting credit for work and life experience. On the other hand, some students need more time to finish because of work or family obligations.
Before choosing a major there are some important facts you should know about.
When you know that you want to major in accounting, you should find out if the colleges and universities you’re most interested in carry this major. You should check the academic catalogs of each university to verify which ones do carry an accounting specialty and verify with your state’s department of education that the colleges you’re considering offer the appropriate graduate accounting education program you need for your field.
If a university you’re considering doesn’t carry a masters in accounting major, then it’s time to cross that school off your list. Keep checking the other schools. For those that do have an accounting major, begin looking over their programs so you get a better idea which university interests you the most.
A accounting master's degree will consist of some really particular training courses to increase your subject knowledge. Generally, a master's degree in accounting looks like your upper division classes on a bachelors, but with a graduate degree or advanced degree the courses are more specific and will require additional critical thinking skills. Below is a sample of online master's degree courses so you can see the kind of curriculum that will be typically found. Universities will differ in their specific study's needed and required. Compare colleges very carefully on the courses they will require you to take to gain your master's degree in accounting. Sample courses you may need:
The graduation rate is an important piece of information. It measures the performance of the entire student body, and it is a good predictor of the experience each applicant can expect. Time is money when it comes to a graduate education in accounting. The longer time for completion means potentially more tuition and fee payments. Each year in addition to the expected two years, adds about 25% to the total costs of a graduate accounting degree. The longer it takes to graduate also means the less time a student is in the workforce earning an income from their accounting masters investment.
National statistics measure on-time degree completion using two-year and three-year marks. Private schools across the US and for all bachelor's degree majors have a range of 53% on-time graduation and 65.6% within six years. In these schools, students can expect to finish on time if they attend full time and within six years with some part-time attendance. Public schools show a 35% on-time rate at four years and 59% at the six-year mark. Students at these schools must plan carefully to ensure that they can complete the requirements for an on-time bachelor's degree in order to pursue their masters.
Accreditation is a very important facet of your career since, if the college you attend is accredited by a reputable association, the doctorate degree you earn from that college will have more value and some employers include this information when evaluating you for employment.
The reason why accreditation is so important is that, without it, it’s hard to determine what kind of standards the training programs hold and if they are up to date with technology and innovation.
A college gets accredited voluntarily by an association of their choice. The association will interview and inspect the college thoroughly to see if they meet their standards of everything from cleanliness to academics and, if the college passes the inspection, the association puts their stamp on them as an assurance that they meet all their requirements.
Employers today want only the best of the best working for them. Some businesses are even willing to pay for the education of potential candidates. So, when it comes to degrees, most employers look at the accreditor of the school you earned your degree from, since this says a lot about the kind of education you acquired. If an employer is willing to go so far as to pay for a student’s education, imagine what kind of salary they will offer to those holding a degree from a highly reputable association.
The cost will depend on several factors. Are you pursuing your graduate accounting degree online or in a traditional setting? If you attend your courses on campus, you will also need to pay for food, room and board, and other fees. This can increase the cost of your graduate accounting education significantly unless you have a plan in place to keep these costs low. If you attend a public, state school, it will depend on whether or not you are a resident. In-state students usually pay much lower rates than out-of-state students. However, this can be overcome by attending classes online, as most institutions charge in-state rates for all online courses. Either way, you need to research the costs for each graduate program you are considering applying to, as each institution will have their own rates.
You can’t afford to take time to redraft your resume, write attention-grabbing cover letters, schedule job interviews, practice your interview skills, or parry salary offers. Not when you’re student-teaching and getting ready to graduate.
That is why most universities and colleges have offices where career and placement service professionals can help you with all of the above. If your resume needs to be updated or even totally rewritten, they will help you. If you need to brush up on your interview skills, they can assist you.
Some campuses even hold professional development workshops. These may include networking skills, resume writing, and interviewing skills.
