Both new accounting students and experienced professionals know that going to graduate school can offer career opportunities beyond what you can expect with just a bachelor\u2019s degree. However, just because you want to position yourself for promotion to high-level and high paying accounting roles doesn\u2019t mean that you\u2019re eager to spend years of your life going back to school, possibly disrupting your career in the meantime. You might be surprised how attainable a master\u2019s degree in accounting really is and how quickly you can finish your graduate education and see a career boost.<\/p>\n
Traditionally, a master\u2019s degree<\/a> takes two years to complete, or longer if you study part-time. If you\u2019re just beginning to work on your undergraduate degree, you\u2019re looking at six years of school before you join the workforce. For working accounting professionals, the notion of spending two or more years going back to school, and disrupting your focus on your career in the meantime, can be daunting.<\/p>\n Fortunately, you don\u2019t have to spend two years in pursuit of a graduate education. Many master\u2019s degree programs in accounting are accelerated and can be completed in as little as one additional year on top of your bachelor\u2019s degree program. Investing that one year in yourself and your education can pay off when it qualifies you for promotions, professional licensure and specialized opportunities.<\/p>\n Accelerated master\u2019s degree programs work in different ways. Some programs include all of the same classroom learning as a traditional master\u2019s degree program, but taken in a more condensed schedule or in numerous terms that continue year-round. Other accelerated master\u2019s degree programs change the structure of their coursework in more substantial ways, such as swapping out lecture courses for hands-on internships. The Master of Science in Accounting program at Western Governors University<\/a> is a competency-based education program in which students pay a flat rate to study for a six-month term and are encouraged to complete as many courses as they want to over the course of that term. This online program has been in place since 2014, according to the National Association of State Boards of Accountancy<\/a>.<\/p>\n Some accelerated master\u2019s degree programs are intended for full-time students who don\u2019t work, while others are meant for working professionals with years of accounting experience. <\/strong><\/p>\n A type of accelerated graduate degree path that is particularly popular in the field of accounting is a five-year combined bachelor\u2019s and master\u2019s degree program. Many accounting schools offer this course of study, partly in answer to the large number of students who need a fifth year of education in order to get their Certified Public Accountant (CPA) license, the United States Bureau of Labor Statistics<\/a> (BLS) reported.<\/p>\n Generally, five-year dual degree programs, like the University of Baltimore<\/a>\u2019s, work by allowing undergraduate students to take some graduate coursework and apply those credits toward both their bachelor\u2019s and master\u2019s degree requirements. Not every combined degree program takes a full five years. Marist College<\/a> in Poughkeepsie, NY, offers a dual degree accounting program that takes just four years and four months to complete and includes a combination of face-to-face classroom learning, distance learning and internship experience.<\/p>\n If you choose to aim for admission into a dual degree accelerated program like Marist College\u2019s, you may need to enroll first in the undergraduate program and then apply later on in your undergraduate career, perhaps during your sophomore or junior year, depending on the school. Admission to these programs may be competitive and require students to meet GPA requirements and prerequisites in order to be considered.<\/p>\n The graduate portion of Marist College\u2019s accelerated dual degree program is also available to students who earned a bachelor\u2019s degree from another school. These students begin a seven-month accelerated graduate program in May and finish in December. <\/strong><\/p>\n There are many reasons why going to graduate school for accounting might make sense. A master\u2019s degree often appeals to aspiring CPAs, who in addition to needing an extra year of study to meet license requirements, must also prepare to take a notoriously difficult exam. Even if you don\u2019t plan to become a CPA, having only a bachelor\u2019s degree could hold you back when it comes time to seek promotions to leadership roles or senior-level roles.<\/p>\n Part of what makes a graduate education so sought-after by employers and so useful in your professional life is the opportunity to develop specialized skills and expertise that sets you apart from others in the field of accounting. As an undergraduate, you studied the foundations, principles and practices of financial reporting from the introductory through intermediate levels. Your master\u2019s degree offers you the chance to learn accounting not just at the advanced levels, but also in specialized fields. For example, Rutgers University offers specialized master\u2019s degrees in governmental accounting<\/a>, financial accounting<\/a> and taxation<\/a> as well as its more general Master of Accountancy in Professional Accounting<\/a> degree. The five-year dual degree programs at Webster University award students a general bachelor\u2019s degree in accounting along with a master\u2019s degree in finance<\/a> or forensic accounting<\/a>. Since most undergraduate accounting programs tend to have a more general focus, going to graduate school can be the perfect way to cultivate these higher-level and more specialized skills.<\/p>\n Raising your salary potential is another reason for going to graduate school. Accounting is one career field in which a wage premium typically accompanies a master\u2019s degree, according to the BLS<\/a>.<\/strong><\/p>\n Additional Resources<\/strong><\/em><\/p>\n How Long Does It Take to Get a Degree in Accounting?<\/a><\/p>\n What Is the Fastest School for a Degree in Accounting?<\/a><\/p>\nDual Degree Accounting Programs<\/h2>\n
Why Earn a Master\u2019s Degree in Accounting<\/h2>\n