Master’s in accounting degree programs prepare individuals to work in high-level finance and accounting positions in businesses that offer tax, banking, and financial management services. They may also be stepping stones to leadership positions, such as chief financial officer.
Salaries for higher-level accounting positions can hit six digits. According to the Bureau of Labor Statistics (BLS), chief executives make an average of $246,440 per year, financial managers make an average of $139,790 per year, and accountants make an average of $78,000 per year even if they aren’t in a leadership position.
It can take 1 to 2 years to complete this degree, depending on your program, and the average cost of master’s degree programs is around $19,749.
How to Choose a Master’s in Accounting Degree Program
Choose your area of study
While most master’s degrees in accounting offer similar coursework, you may want to specialize to address specific career growth aspirations. Consider whether you want to seek an area of study that best prepares you for work in forensic accounting, financial management, executive leadership, tax accounting, or government/public accounting.
Research schools and programs
Begin your journey toward a master’s in accounting by researching schools. Consider your location, what type of school you want to attend, and how your personal schedule might impact your ability to succeed. For example, some programs offer accelerated learning that lets you complete your degree requirements in as little as one year, but this could involve intense coursework that doesn’t align well with a schedule already full of career and family obligations.
Some things to consider as you research master’s in accounting degree programs include:
- Does the program require on-campus classes, or can you complete it entirely online? What works for you depends on your learning style and preferences as well as your schedule.
- When can you start the program, and does the schedule align with your needs?
- How much does the program cost, and can you get financial aid to help cover those expenses?
- Is the program accredited? Reputable programs look better on your resume, and accreditations provide peace of mind that you’re receiving a quality accounting education.
Prepare for tests and applications
Grad schools that offer master’s in accounting degree programs have varying admission requirements. You may need to take the Graduate Management Admission Test (GMAT) or Graduate Record Examination (GRE). These graduate admissions tests help verify your preparedness to succeed in a graduate-level degree program.
If your school requires these tests or any others for admission, you’ll need to prepare early so that you can schedule and study for the exam, take the exam, and receive results back in time for any application deadlines.
Select your program
During the research process, you should have narrowed the field down to a few possible schools. You may want to apply to multiple schools, especially if you have included a few highly competitive programs on your list. Completing several applications increases the chances of getting into at least one program on a timeline that works with your career plans.
If you only get accepted to one program, the decision is made for you. However, if you get accepted to multiple master’s in accounting degree programs, you’ll need to pick the best option based on factors such as cost, financial aid, the expertise of teachers, scheduling, and the type of specialization you want.
Determine how you’ll pay for your degree
Finally, make a plan to pay for your degree. Most people start with the Free Application for Federal Student Aid (FAFSA), which can help you understand your eligibility for programs to help cover grad programs. If you’re paying cash for a program, make sure you understand how many courses you can realistically budget for each semester and whether that pace is possible with the school you choose.
Best 50 Accredited Master’s in Accounting Programs
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How we rank schools
This list features some of the best master’s in accounting degree programs at top colleges across the country. Each school featured is a nonprofit, accredited institution — either public or private — with a high standard of academic quality for post-secondary institutions. The programs on our list are available at accredited institutions, including the Association to Advance Collegiate Schools of Business (AACSB) and the Accreditation Council for Business Schools and Programs (ACBSP), both reputable organizations that assess business programs for educational excellence.
We evaluated each school’s program on admission, retention, and graduation rates as well as tuition, faculty, reputation, and the resources provided for on-campus students. Then, we calculated the Intelligent Score on a scale of 0 to 100. Read more about our ranking methodology.
Next, we compared this comprehensive list of master’s in accounting degree programs to a list of aggregated college rankings from reputable publications like U.S. News & World Report, among others, to simplify a student’s college search. We pored through these rankings so students don’t have to.
What Can You Expect From a Master’s in Accounting Program?
Coursework in a master’s in accounting degree program builds on principles learned in undergraduate accounting or finance programs — or on experience someone already has in their career. The expectation is that you already have some core knowledge, especially for accelerated programs, which won’t spend time on basic accounting. Instead, you’ll learn higher-level and specialty accounting skills related to topics such as data analytics, taxation, federal regulations, and business management.
Traditional master’s in accounting degree programs tend to take around two years for students attending on a full-time basis. However, you can find programs that cater to working professionals with accelerated approaches that take a year or part-time options that let you complete your degree over several years.
You can find master’s in accounting programs that are all on campus, all online, or taught via hybrid approaches that let you balance a need to connect in person with teachers with the flexibility of online schedules.
Potential courses you’ll take in a master’s in accounting program
The courses offered by master’s in accounting degree programs vary, but you can expect options including:
- Data analytics for accounting. Big data management and technical analysis are increasingly important in accounting, and graduate programs often provide students with the skills they need to succeed with such tasks. This can include overviews of technical accounting aspects or the development of practical skills, such as report writing.
- Business management or leadership. Accounting students with eyes on the C-suite may want to take a variety of management courses relevant to company finances. These courses can also prepare you for managing accounting departments or small businesses.
- Auditing. Coursework related to auditing may include financial forensics or concentrate on federal regulations and compliance. These are a must for individuals who want to move into comptroller or auditing positions in the future.
- Business law for accountants. Graduate students can get a strong overview of business laws relevant to corporate accounting and general business. These courses can include reviews of legal literature and projects that explore real-world legal and financial challenges.
- Financial or business ethics. Being well-versed in ethics can help accounting professionals support corporate integrity and understand how to make difficult decisions in real-world business scenarios.
Master’s in Accounting Degree Frequently Asked Questions
How do I apply to a master's in accounting degree program?
The specific admission requirements vary by school. Typically, you start with an application and will likely need a transcript demonstrating that you have completed a requisite 4-year degree program. Some graduate-level accounting programs may require you to have a degree in a certain field, such as accounting, finance, or business management, or applicable career experience.
You may need to complete the GMAT or GRE, as some programs only accept students who score a certain amount on these tests. Research your desired schools for exact requirements. You can do this by talking to an admissions counselor, who can help you understand the application process and admission requirements.
How much does a master's in accounting degree cost?
The average tuition for a master’s degree in accounting is around $19,700. However, that can vary widely depending on whether you’re attending a public or private school or are paying in-state or out-of-state tuition rates. You may be able to save on an online program, but that’s not always the case with graduate degrees.
Don’t forget to account for costs other than tuition. You’ll need to pay for books and materials for your courses, some of which may require access to special accounting software and other programs. Most students also need a laptop and internet connection.
How long does it take to earn a master's in accounting degree?
Master’s in accounting programs usually require you to earn between 30 and 36 credits. Depending on the program, you may be able to leverage existing credits or even professional experience, which can cut down on the time it takes to earn your degree.
Traditional in-person degree programs typically take around two years to complete when attending full-time. Online and accelerated programs may take as little as a year to complete, but they often come with special admissions requirements. If you attend part-time, taking only one or two classes a semester, it might take four years or more to earn your master’s degree.