Benefits of a Master's Degree in Accounting

While a bachelor's degree in accounting will allow you access to some entry-level jobs, many more options are available to those who pursue higher educational levels. There are benefits to earning a master's degree in accounting.

Better Pay

According to the U.S. Bureau of Labor Statistics in 2009, those with a master's degree were offered a starting salary of about $3,000 more than those with only a bachelor's degree.

Advancement

A master's degree in accounting is usually a prerequisite for higher-level jobs, especially jobs involving management.

Wider Field of Job Options

Those with only a bachelor's degree in accounting are somewhat limited in what type of jobs they can pursue. A master's degree allows a person to work in a variety of economic sectors including state and local government, private corporations and accounting and tax preparation companies.

Variety in Work Locations

More than 40 states require CPAs to acquire 30 hours of education beyond the bachelor's degree. Earning a master's degree usually takes care of that requirement, allowing a graduate to work in any of the 50 United States as a CPA.

Becoming Self-Employed

A master's degree in accounting is an advantage for anyone who wants to become self-employed as an accountant.

Resources

• Accountants and Auditors---Information from the U.S. Bureau of Labor Statistics