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The Benefits of Getting a Master’s Degree in Accounting

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Written by CB Community

Earning a master’s degree in accounting can help you build your network, increase your earnings potential, and catapult you into a successful career.

If you are not convinced, keep reading to learn about the benefits of getting a master’s degree in accounting:

Helps Prepare You for the CPA Exam

While you do not necessarily need a master’s degree in order to take the CPA exam, it can certainly help you pass by giving you a deeper understanding of accounting principles. You can even find accounting programs that specifically help prepare students for the CPA exam.

Even if you enroll in a program that is not designed around the CPA, any relevant master’s degree program can help by increasing your understanding of accounting fundamentals.

Further, many accounting programs offer access to CPA review courses that offer a plethora of study materials and resources for students to help them prepare for the exam.

Earning a master’s degree will also help you hone skills that will be vital in the workplace. Whether you are working on balancing the books of a small business or dealing with the finances of a global corporation, any amount of practice on basic accounting skills will certainly help prepare you for a successful career.

May Fulfill Your Education Requirement for CPA Certification

Unlike many other certification programs, there is a preliminary education requirement to earning CPA certification. The education requirements begin with earning an undergraduate degree, but you will also need to complete at least one additional year of credits (30 total) in order to register for the CPA exam.

It is up to the individual student to decide how to fulfill the education requirements for the CPA exam.

Some students take additional undergraduate classes, others add another major or minor, but the vast majority continue to graduate school to acquire advanced knowledge they can use to further their careers.

Boost Your Earning Potential

Earning a master’s degree or CPA certification can drastically increase your earning potential as an accountant.

The average accountant earns approximately $71,000 per year, but certified accountants or those with a master’s degree can expect to earn at least 15 percent more per year.

While it may be a costly initial investment to continue your education through graduate school, it will more than pay for itself when you consider your higher-than-average salary.

Networking Opportunities

Going to graduate school for a master’s degree in accounting provides networking opportunities that you can use to build your career in the future.

The top accounting programs offer connections to high-profile professionals that can help you secure jobs at large corporations and tools you can use to build your network while you are in school.

While it may seem like an unnecessary expense while you are in school, going out with friends and building relationships with fellow accounting professionals is a surefire way to build an extensive network in your field.

Your friends may have suggestions to help you improve your skills, or knowledge of job opportunities that you can use to build your own career.

Vast Amount of Employment Opportunities

On top of boosting your skills, offering networking opportunities, and increasing your earning potential, earning a master’s degree can also come along with a vast amount of employment opportunities.

The most lucrative and sought-after accounting careers are executive positions that require a graduate degree. While it is entirely possible to build a successful career for yourself with a master’s degree, a degree will simply make it easier.

If you get ahead of the curve and work towards getting your master’s degree now, you will be entering into a field that increasingly values education.

Each year, more employers increase their education requirements and require applicants to have a master’s degree. If you take the time now to earn your degree, you will open yourself up to all of the high-level job offerings that will require advanced degrees in the future.

Earning an advanced degree in accounting will also allow you to become an accounting professor yourself. Teaching is a good career path if you enjoy academics and helping others. The world of academia is highly exclusive and can be very lucrative if you play your cards right.

As long as you have an advanced degree in accounting, you will be able to find a job opportunity nearly everywhere you look.

A final perk to earning a master’s degree in accounting is that many aspiring accountants are offered full-time jobs before they even graduate.

If you excel in your studies and work hard, you can be one of the lucky ones who graduates into a job with benefits that may even help cover the expenses of graduate school like your tuition or essential supplies.

Conclusion

Earning a master’s degree is difficult, expensive, and requires dedication and a willingness to study.

While it may be a considerable initial investment of your time and money, it will more than pay off when you consider all of the benefits of earning a graduate degree.

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CB Community

CB Community

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