Aspiring business professionals may be curious to know what the job outlook for candidates with a master’s degree in accounting will be. The good news is that accountants – and those with a graduate degree, in particular – can look forward to a considerable increase in opportunities, according to the United States Bureau of Labor Statistics (BLS). Choosing this educational path can help prepare you for a career field that offers plentiful opportunities.
Increases Expected in Job Opportunities for Accountants
As a whole, the field of accounting has a positive job outlook. While the BLS anticipates opportunities for all occupations to grow by just seven percent over a decade, it expects faster than average job growth of 11 percent for accountants.
Why will the number of accounting and auditing jobs rise more rapidly than most other occupations? There are a number of factors that, combined, will make these business and financial professionals in-demand. For one thing, the BLS points to the growing economy as a reason for the positive job outlook. More businesses and organizations need an accountant to help them handle financial reporting and decision-making tasks. Additionally, tax regulations are complicated, and they aren’t getting any simpler. These companies can’t afford to take the risk of failing to comply with regulations. They need an accountant’s help to handle their finances the right way from the start. Finally, the economy is becoming increasingly global. Only a trained and thoroughly educated accountant has the skills to navigate financial reporting and strategy in the global economy.
The Job Outlook for Candidates with a Master’s Degree in Accounting
Those increased opportunities for accountants favor those who have put in the time and effort to earn a graduate degree. The BLS expects the job outlook for candidates with a master’s degree in accounting to have an advantage over those with just a bachelor’s degree. The best job prospects will belong to accounting professionals who attain the certified public accountant (CPA) credential – which many graduates go on to do after completing their master’s degrees.
Just how strong is the job outlook for candidates with a master’s degree in accounting? A recent survey showed that 45 percent of employers surveyed intended to hire graduates of Master of Accounting degree programs, according to U.S. News & World Report. That’s up from the 36 percent of employers that had announced plans to hire candidates with a graduate accounting education the previous year.
Aspiring accountants and auditors can enjoy the security of working in a growing field. Earning the right degree can maximize your career opportunities, especially if you have plans of becoming a CPA or seeking a senior-level role. If you are trying to determine whether graduate school is right for you, the highly positive job outlook for candidates with a master’s degree in accounting may be a convincing enough reason to invest in your education.