Why This Matters
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$73,560 AVERAGE YEARLY SALARY
The Bureau of Labor Statistics (BLS) notes that the average salary for accountants and auditors in the United States is around $73,560, or $35.37 per hour.
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4% JOB GROWTH EXPECTED
It’s projected that there will be 61,700 new jobs in this field through 2029, which represents a job growth rate of 4%. This is considered to be around average when compared to other industries.
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HIGHEST EMPLOYMENT LEVEL IN CA, NY, TX
The highest number of auditors and accounting professionals are employed in California, New York, Texas, Florida, and Pennsylvania.
Our Research
To create our list of the most affordable online master’s in accounting programs, we looked through dozens of schools to find those that had the lowest cost per credit. Some run as low as $371 per credit hour for those who live in state.
Every legitimate accounting program is accredited by either a national or regional accrediting body, and this confirms that the program provides a high level of instruction and will be accepted by employers. Some of the accreditors on our list include the Association to Advance Collegiate Schools of Business (AACSB), the Accreditation Council for Business Schools and Programs (ACBSP), and the International Accreditation Council for Business Education (IACBE).
- 76 hours to write this article
- 150 universities and colleges we assessed
- 207 education programs we compared
The Top 50 Affordable Online Master’s in Accounting Programs
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What You Should Know About This Degree
As someone who is interested in an online master’s in accounting program, you probably already know how important it is to crunch the numbers when comparing degrees. It’s important to look at the cost per credit hour, overall tuition charges, extra fees, and the cost of textbooks and supplies. When pursuing an online degree, you may also need to factor in the cost of computer or internet service upgrades to be able to complete the course requirements.
Financial aid isn’t quite as easy to come by for a master’s program as it is for a bachelor’s program, but there are still some options. You won’t qualify for federal Pell grants, but there are many scholarships available for those who are pursuing graduate degrees. Your school’s financial aid office can help point you in the right direction and give you information on other options, such as an assistantship. You’ll also need to take any student loans you have from your bachelor’s degree into consideration to ensure you’re getting the full financial picture.
If you’re already working in accounting and plan to continue as you pursue your master’s degree, it’s important to consider time management. It can be very challenging to work full-time while also going to school full-time, and if you also have children or family obligations, you’ll need a strong support system. It may help lessen the burden to consider going to school part-time, or at least reducing the number of classes you take during tax season if you’re a practicing accountant.
What’s Next?
Here are some questions to ask when researching online master’s in accounting programs:
- Am I eligible for this program? Eligibility requirements for an online master’s in accounting usually include an undergraduate degree in accounting or a finance-related major. It’s also common for there to be a GPA requirement, such as having a 3.0 average in math and accounting classes. Competitive programs may also require letters of recommendation or for you to be a CPA.
- Are courses offered synchronously or asynchronously? Each school and program sets forth its own guidelines on whether online classes are offered synchronously or asynchronously. Because accounting doesn’t involve labs, clinicals, or supervisory hours, it’s possible to find a completely asynchronous program.
- How long does it take to complete an online master’s in accounting program? An online master’s in accounting takes around two years to complete on average. Keep in mind that this is for a full-time student. Those who are only going part-time should expect to take up to twice as long to fulfill the requirements.
- What tests are required for an online master’s in accounting program? You may be required to take the general GRE test as well as the mathematics GRE subject test.