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Accounting is a multidisciplinary subject that focuses on the economic activities of an organization or individual.Accounting students will gain advanced theoretical and practical knowledge of accounting and finance; master computational and computing skills and techniques used in professional accounting practitioners,
Masters Degree In Accounting Salary
When thinking about earning an advanced degree, it’s natural to wonder how it will pay off in the long term. A degree is an investment in your future. Understandably, you’ll want to see a return on that investment. A Master of Accountancy (MAcc) degree can unlock new job opportunities and significant pay, but it’s most prominently viewed as a way to move up in the industry rather than one capable of opening up jobs entirely unavailable to those without an advanced degree. Your career outlook depends on experience and certifications, and a MAcc degree can help with both.
For example, consider the Certified Public Accountant (CPA) certification. It’s a major step in an accounting career and can lead to considerable salary increases. While a MAcc degree isn’t explicitly required to obtain the certification, a MAcc program can be incredibly valuable in obtaining a CPA certification. Most MAcc curricula focus on highly technical, practical elements of accounting work, making them perfect for those seeking a CPA certification. Actual licensure requirements vary from state to state; however, the majority of states require 150 credit hours for licensure and a minimum of 120 credit hours to sit for the exam.
Accountants who demonstrate the proper skill set in their work can find success, and earning a MAcc degree may be a steppingstone to more advanced roles. It helps you develop your skills and expertise while building your resume. This lays the potential groundwork for promotions and higher salaries, even if it isn’t necessarily required for a job. With this in mind, let’s take a closer look at what to expect from a master’s in accounting salary.
Master’s in Accounting Salary Range
General accountant and auditor salaries are a natural starting point when considering a master’s in accounting salary range. The U.S. Bureau of Labor Statistics (BLS) reports that the median annual salary for accountants and auditors was $73,560 in 2020, and the job market is projected to grow by 4% between 2019 and 2029.
Location plays a factor in salary, as well. For example, the median annual salary for an accountant or auditor in New York was $101,440 in 2020. However, in Florida, the same position paid a median of $74,960.
Budget analysts, which is a potential specialization for accountants with business skills, received a median annual salary of more than $78,970 in 2020, according to the BLS. Individuals in another specialized role — financial analysts — earned a median annual salary of $83,660 in 2020.
These figures point to the high earning potential, but also high salary variability, in the accounting sector. As general information about accountant and auditor positions can pertain to everyone from new accountants with a bachelor’s degree to experienced professionals in the late stages of their career, it can be difficult to pin down exactly what to expect.
According to June 2021 salary data from PayScale, those with a MAcc degree made a median annual salary of approximately $72,000 across all accounting and finance positions. For accounting managers, median salaries average approximately $73,500. These salaries are even higher for those who are financial or corporate controllers, exceeding $85,000 and $100,000, respectively.
All of this indicates that a master’s in accounting salary range is generally high, and those with a MAcc degree who move into management or specialized roles will likely experience the greatest boost.
Accounting Jobs Outlook
Salary improvements are to be expected when obtaining an advanced degree in accounting. To a great extent, a degree can make it easier to gain recognition for expertise and move into a more specialized field in the industry. For example, accountants who have obtained a master’s degree may work in forensic accounting, public accounting, auditing and compliance, and supporting government operations through accounting and handling tax and payroll issues. Here are some popular careers you can pursue with a MAcc degree and their approximate median salaries, according to June 2021 data from PayScale.
- Certified public accountant: $68,500
- Compliance officer: $70,000
- Corporate accounting manager: $84,000
- Forensic accountant: $71,000
- Internal auditor: $59,500
- Tax manager: $98,500
- Credit analyst: $52,000
Each role requires specialized knowledge that can be obtained through a blend of work experience and continued education. A MAcc program, such as the online MAcc at the University of Nevada, Reno (UNR), can cover key areas of emphasis to help prepare students for these types of roles. For example, the MAcc curriculum includes coursework on ethics, government and not-for-profit accounting, business analysis and tax issues, all of which can be applicable for advanced roles in the industry.
How to Achieve an Accounting Salary Increase
Three main components can help you earn a salary increase: experience, education and credentials. Working in the field, gaining different types of experience and taking on new responsibilities can all lead to a raise in compensation.
A second factor is education. The new skills students learn in advanced degree programs can translate to higher pay, and a graduate degree shows employers that you’re ready for senior-level positions.
The third key element in achieving a salary increase is earning a new credential. While the CPA is the most popular accounting credential, others can positively affect salary, such as the Chartered Global Management Accountant (CGMA), Certified Internal Auditor (CIA) and Chartered Financial Analyst (CFA) credentials. Credentials establish your knowledge and skill set in the world of accounting and can open the door to managerial positions and higher salaries.
Pursue Your Master’s in Accounting
A master’s in accounting salary will vary depending on job role and a number of other factors, and education and certification are two ways you can position yourself for high-paying opportunities. The online MAcc program from University of Nevada, Reno is specifically designed to help students prepare for their CPA exams while offering convenient, accessible learning opportunities.
THE AVERAGE SALARY OF AN ACCOUNTANT WITH A MASTERS DEGREE
In general, employers seek accountants with a bachelor’s degree in accounting for most positions. Undergraduate degrees usually provide students with the knowledge and skills necessary to succeed in the industry, but a master’s degree can open many more doors, and some employers even prefer to hire candidates with this level of education. Though students spend an additional two years in school, the time is well spent, as a graduate degree often improves salary.
Salary Ranges
As of 2012, the average accountant brought home $71,040 a year, according to the U.S. Bureau of Labor Statistics, but this figure is regardless of degree. Robert Half Finance & Accounting, a national financial recruiter, explains that graduate degrees improve salaries by as much as 5 to 10 percent, and salaries vary by level of experience, size of company and specialty.
General Accounting Salaries
At midsized companies, entry-level general accountants with a master’s degree made anywhere from $40,425 to $54,175. Starting salaries for those with one to three years of experience ranged from $47,250 to $66,825, while starting salaries for senior-level accountants were between $59,063 and $81,675. By comparison, salaries for senior-level general accountants at large companies started at $65,363 to $91,025.
Specialized Accounting Salaries
Accountants specializing in a certain area of accounting often make more. For example, senior-level cost accountants with a master’s degree earned $61,163 to $83,325 a year at a midsize company. Salaries for senior-level tax accountants ranged from $61,688 to $88,000 with a master’s degree. Hedge fund accountants earned $62,213 to $84,700 with a master’s degree, while mutual fund accountants earned $55,913 to $74,525 with this level of education.
Career Outlook
Until 2020, accountants in general should experience a job growth of 16 percent, reports the BLS. This is just faster than the national average for all U.S. occupations, a projected 14 percent. Accountants with professional certifications and advanced degrees should see the greatest prospects.
masters in accounting jobs
1. Senior Accountant
Average US Salary: $76,701
Almost a third of Master in Accounting graduates in the UK go on to work as chartered and certified accountants in a senior accountancy role.
Senior accountants provide analysis and report on financial records, alongside working with individuals on their tax filings. Many companies require you to have passed the Chartered Public Accountant (CPA) exam to land a job as a senior accountant, but most Master in Accounting programs will satisfy the requirements to sit the CPA exam after graduation.
At Big Four accountancy firm PwC, senior accountants can expect to earn around $80,000, while at Deloitte they earn salaries of around $72,000. Companies in a variety of sectors also employ in-house senior accountants. Within the tech industry, Google offers around $124,000 to their senior accountants, while Microsoft offers $85,000.
2. Auditor
Average US Salary: $59,244
Auditor is a more specialised accounting graduate job than your average senior accountant role, Auditors are also skilled in tax regulations, they usually work on verifying financial statements to ensure they’re accurate.
Within Big Four accounting firms like EY, Deloitte, and KPMG, auditors earn salaries of approximately $65,000. If you’re set on becoming an auditor, it’s also possible to work in government with your Masters in Accounting degree.
Institutions like the United States Federal Government and the Defence Contract Audit Agency need auditors, and pay higher salaries than accounting firms—up to $75,000.
3. Financial Controller
Average US Salary: $97,511
Financial controllers earn some of the highest salaries amongthe most popular accounting graduate jobs. This is because of their wide remit; not only are they responsible for financial records, they’re also responsible for preparing financial reports and creating strategies. Financial controllers typically report to the company CFO.
A top financial firm like J. P. Morgan will pay a financial controller around $69,000 per year. In other areas of the private sector, though, it’s possible to earn even more than this. For example, tech conglomerate Siemens offer a salary of $125,000 to its financial controllers.
4. Financial Manager
Average US Salary: $97,605
Similar to a financial controller, a financial manager will usually manage the day-to-day company finances. They also advise clients on financial planning and decision making. Financial managers don’t necessarily have to report to company executives.
While the average salary for this MS Accounting job just misses the $100k mark, some tech firms will pay much more. Financial managers at Apple earn a huge $183,000 per year, and at IBM the salary is around $131,000.
5. Financial Analyst
Average US Salary: $72,532
Data analytics is one of the key skills that employers look for in business school graduates. Financial analysts work with financial data to make reports and forecasts, this makes the role of financial analyst one of the most in-demand accounting graduate jobs.
Industries as varied as consulting, tech, and aviation employ financial analysts, though salaries vary at different companies. Apple will offer a salary of around $117,000 to their financial analysts, while Google offer close to $125,000. At the Big Three consulting firms, salaries can vary between $70,000 to $100,000.
masters in accounting salary california
How much does a Masters Accounting make in Los Angeles, California?
As of Oct 25, 2021, the average annual pay for the Masters Accounting jobs category in Los Angeles is $66,099 an year. Just in case you need a simple salary calculator, that works out to be approximately $31.78 an hour. This is the equivalent of $1,271/week or $5,508/month.
While ZipRecruiter is seeing salaries as high as $137,645 and as low as $21,176, the majority of salaries within the Masters Accounting jobs category currently range between $40,763 (25th percentile) to $82,057 (75th percentile) with top earners (90th percentile) making $116,468 annually in Los Angeles.
The average pay range for a Masters Accounting job varies greatly (as much as $41,294), which suggests there may be many opportunities for advancement and increased pay based on skill level, location and years of experience.
Based on recent job postings on ZipRecruiter, the Masters Accounting job market in both Los Angeles, CA and the surrounding area is very active.
To estimate the most accurate annual salary range for Masters Accounting jobs, ZipRecruiter continuously scans its database of millions of active jobs published locally throughout America.
What are Top 5 Best Paying Related Masters Accounting Jobs in Los Angeles
We found at least 5 jobs related to the Masters Accounting job category that pay more per year than a typical Masters Accounting salary in Los Angeles, CA. Top examples of these roles include: VP Accountant, VP CPA, and Director of Accounting.
Importantly, all of these jobs are paid between $48,011 (72.6%) and $75,761 (114.6%) more than the average Masters Accounting salary of $66,099. If you’re qualified, getting hired for one of these related Masters Accounting jobs may help you make more money than that of the average Masters Accounting position.
| Job Title | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
|---|---|---|---|---|
| VP Accountant | $141,860 | $11,822 | $2,728 | $68.20 |
| VP CPA | $125,527 | $10,461 | $2,414 | $60.35 |
| Director of Accounting | $122,445 | $10,204 | $2,355 | $58.87 |
| Technical Accounting Manager | $119,222 | $9,935 | $2,293 | $57.32 |
| Vice President CPA | $114,110 | $9,509 | $2,194 | $54.86 |
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