After you’ve earned your Masters in Accounting, you may be wondering about the typical Masters in Accounting salary. Achieving a Masters in Accounting can lead to a long and rewarding career. However, before seeking a Masters in Accounting degree, it is important to find a respected Accounting program, either at a traditional brick and mortar school or through one of the top online Master of Accounting Degree Programs. At the University of Texas, the McCombs School of Business is host to one of the top Accounting programs in the country. McCombs offers four different specialized degrees: Financial Reporting and Assurance, Tax, Managerial Accounting and Control Generalist. As a result, students have the opportunity to choose their preferred skill set and gain expertise in that specific field, undoubtedly giving them the potential for a substantial Masters in Accounting salary. Another top school to consider is the University of Washington’s Fosters School of Business, which has a superb accounting program and allows students to specialize in either Auditing & Assurance or Taxation. Students also have the unique opportunity to develop real world skills by participating in the graduate professional internship program.
Details About Masters in Accounting Salary Ranges
Graduates with a Masters in Accounting benefit from a stable career and a competitive salary. The average starting Masters in Accounting Salary is about $50,000. However, salaries can vary heavily depending on location and experience. An experienced accountant with a Masters degree could make a salary of $95,000 or more, but it is dependent on where you choose to practice. The cost of living somewhere such as Los Angeles, CA will be significantly higher than the cost of living in a smaller city such as Asheville, North Carolina. As a result, the latter will offer significantly lower salaries to accounting graduates. Job titles also play an important role in accounting salaries. The Accounting profession includes many different titles and specialized skills such as CPAs, payroll accountants, controllers, tax specialists, managerial accountants and auditors. The salaries of each accounting specialist can vary considerably. For example, a CPA with a Masters in Accounting has an average annual salary between $45,000 and $85,000 depending on experience. Meanwhile, a payroll accountant has an average annual salary between 32,000 and $78,000. Generally, the accounting positions that pay the most are ones that require more experience such as CPAs and controllers. There are many ways to maximize the earning potential of a Masters in accounting degree. Obtaining a variety of certifications can boost earning potential and maximize available opportunities. Most Masters in accounting graduates should invest the time into obtaining a CPA certification. CPAs are in high demand and the potential for a higher salary is better with a CPA certification. Gaining experience in the public accounting sector will also help maximize earning potential. Even if the graduate prefers the private sector, experience in the public sector is invaluable and will significantly increase his or her Masters in accounting salary.
For more info, check out Glassdoor’s Accounting Salaries page.