How to Pursue a Master’s in Accounting in the USA: A Step-by-Step Guide

Accounting is a critical profession in any business, and a master’s degree in accounting can give you the skills and knowledge you need to advance your career. Masters in accounting USA is among the popular choice as the United States is home to some of the best accounting programs in the world.  

Master’s degree from a US university can open up doors to many exciting and rewarding opportunities. 

So, lets understand the importance of a master’s degree in accounting, the benefits of studying accounting in the USA, and the MS in accounting in USA fees in 2023, top colleges, placements, and salaries for accounting master’s programs in the USA. 

Importance of a Master’s in accounting

 A master’s in accounting in USA for international students is a prestigious and sought-after academic course that holds immense importance in today’s complex financial landscape. A master’s degree in accounting can give you the following advantages: 

• Higher earning potential: Accountants with a master’s degree typically earn more than those with only a bachelor’s degree. According to the US Bureau of Labor Statistics, the median annual salary for accountants with a master’s degree was $77,250 in 2021. 
• More job opportunities: Employers are increasingly looking for accountants with a master’s degree, especially for senior positions. A master’s degree can also qualify you for certain accounting jobs, such as certified public accountant (CPA). 
• Better career advancement: A master’s degree can help you advance your career more quickly. Many accounting firms and other businesses offer promotion opportunities to accountants with a master’s degree.
• Global Recognition: A Masters in Accounting from a reputable institution is internationally recognized, enhancing your credentials and increasing your marketability on a global scale. 
• Adaptability: The skills and knowledge gained in a Masters in Accounting program are transferable to various industries and sectors, making graduates adaptable to changing career circumstances and opportunities.

Why the USA is the Best Destination for Higher Studies in Accounting

The United States is the best destination for higher studies in accounting for the following reasons: 

1. Top-ranked universities: The United States is home to some of the best accounting programs in the world. According to the QS World University Rankings 2023, 6 of the top 10 universities for accounting and finance are located in the US. 
2. Diverse learning environment: US universities offer a diverse and supportive learning environment for international students. You will have the opportunity to learn from world-renowned faculty and network with students from all over the world. 
3. Strong job market: The US has a strong job market for accountants. According to the US Bureau of Labor Statistics, the employment of accountants is projected to grow 6% from 2020 to 2030, faster than the average for all occupations. 
4. Expert faculty: American universities attract some of the world’s leading experts in the field of accounting. Professors often have extensive industry experience and research credentials, providing students with the opportunity to learn from the best. 
5. Research Opportunities: U.S. universities encourage research and innovation. Students have access to cutting-edge research facilities and can engage in academic research projects, contributing to the advancement of the accounting field.

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About Masters in Accounting Course and Curriculum

Master of Accounting programs in the USA typically last one to two years and are designed to prepare students for careers in accounting. The curriculum for Masters in accounting programs typically includes the following core courses: 

• Accounting Theory
• Financial Accounting
• Managerial Accounting 
• Auditing 
• Tax Accounting 
• Cost Accounting

In addition to these core accounting courses, the programs may also offer elective courses in specialized areas such as data analytics, business intelligence, and financial modelling. 

The specific courses offered in the program will vary depending on the school. However, most accounting programs will cover the topics listed above. Additionally, many programs require students to complete a capstone project or internship. 

Masters in accounting programs are typically designed for students who have already completed a bachelor’s degree in accounting or business. However, some programs may admit students with other backgrounds, such as finance or economics. 

If you are interested in pursuing a master’s degree in accounting in the USA, you should carefully research the different programs available and choose a program that is right for you. Consider factors such as the program’s curriculum, faculty, location, and cost. 

Top 12 Universities for Masters in Accounting in the USA

Here’s a list of the top 12 universities/colleges for Masters in Accounting USA, including their estimated fees in 2023, and location. Please note that the specific rankings and fees may change over time. 

Please note that these are estimated fees, and the actual MS in accounting in USA fees may vary depending on the program and other factors. 

Admission Requirements for Masters in Accounting in the USA

The eligibility and admission requirements for Master of Accounting programs in the USA vary from school to school. However, most programs will require applicants to meet the following criteria: 

• A bachelor’s degree in accounting or a related field from an accredited university.
• A minimum GPA of 3.0 
• A GMAT score of at least 650 or a GRE score of at least 313 
• TOEFL score of at least 100 (for international students) 
• Letters of recommendation 
• Statement of purpose

Some programs may also have additional requirements, such as coursework in specific accounting topics or professional experience. It is important to check with the specific programs you are interested in to learn more about their eligibility and admission requirements. 

Here is a more detailed breakdown of the admission requirements for some of the top accounting programs in the USA: 

It is essential to note that these are just minimum requirements. Some schools may have higher requirements, and some schools may be more competitive than others. 

It is recommended to get expert consultation from a study abroad expert like Shuraa Education to get accurate information on eligibility criteria and assistance in application process.

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Application Process For Masters in Accounting in the USA

The application process for a Masters in Accounting USA can vary slightly from one university to another, but here is a general step-by-step guide to help you get started: 

Step 1: Research and Program Selection

Start by researching the different master in accounting programs available in the USA. You can use online resources such as the US News & World Report rankings or the Graduate Management Admission Council (GMAC) website to find programs that meet your criteria. Also, you can consult overseas educational expert to find out the perfect university that meets your needs. 

 Once you have a list of potential programs, visit the school websites to learn more about the curriculum, faculty, location, and cost. You should also read reviews from current students and alumni to get a sense of the overall program experience. 

Step 2: Gather the required application materials

Once you have chosen a few masters in accounting programs to apply to, you should start gathering the required application materials. This typically includes: 

• Transcripts: Official transcripts from all of the colleges and universities that you have attended. 
• Test scores: GMAT or GRE scores. Some programs may waive this requirement for international students.
• Letters of recommendation: Two or three letters of recommendation from professors or employers. 
• Statement of purpose: A personal statement explaining your interest in accounting and your goals for the future.

Step 3: Complete online application

Most Master’s in accounting programs have deadlines in the fall and winter months. Be sure to check the deadlines for each program and submit your applications on time. The application fees for these programs vary depending on the university. However, most programs charge between $75 and $150 per application. 

Step 4: Attend interviews (if necessary)

Some universities may require interviews as part of the admission process. If you are selected for an interview, prepare by reviewing your application and practicing common interview questions. 

Step 5: Accept an offer of admission

Once you have received offers of admission, you should carefully consider each offer and choose the program that is the best fit for you. Once you have made a decision, you should accept the offer of admission and enrol in the program. 

Step 6: Consider financial aid

Explore scholarships, assistantships, and financial aid options. Apply for any relevant opportunities to help cover tuition costs. 

Step 7: Secure a student Visa

Once you receive an acceptance letter, you’ll need to apply for a student visa (usually an F-1 visa) if you’re an international student. Follow the U.S. embassy or consulate’s instructions for visa application. 

Step 8: Enrol in the program

Once you have secured your admission and obtained a student visa, enrol in the Masters in Accounting program at the university of your choice. 

Remember that the application process may vary from one university to another, so it’s essential to carefully review each university’s specific requirements and deadlines. 

Also, get in touch with the study abroad educational consultant like Shuraa Education for expert assistance throughout the application process.

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Tuition Fees for Master’s in Accounting in the USA

Tuition fees for Masters in Accounting programs in the USA vary depending on the school. However, most programs cost between $50,000 and $70,000 per year. Some of the top-ranked programs in the USA can cost even more, with tuition fees of over $80,000 per year. 

In addition to tuition fees, students may also need to pay for other costs such as housing, food, and books. The total cost of attendance for Master in Accounting program in the USA can range from $70,000 to $100,000 or more per year. 

Please note that these are just rough estimates, the overall MS in accounting in USA fees may vary depending on many factors, so it’s always better to get in touch with the university or education consultant for the actual cost of studying in the USA. 

Also note that there are a number of ways to finance the cost of masters in accounting program, including scholarships, grants, and loans. Students should research their options carefully and choose the financing method that is best for them. 

Masters in Accounting Placements

Masters in Accounting USA have excellent placement rates. According to a 2022 survey by the National Association of Colleges and Employers (NACE), 92% of master in accounting graduates were employed within three months of graduation. 

Here are some of the most common job titles for master’s in accounting graduates: 

• Staff Accountant 
• Auditor 
• Tax Accountant
• Financial Analyst 
• Management Accountant 
• Internal Auditor 
• Forensic Accountant

Master’s in accounting graduates also have excellent career advancement opportunities. With experience, many the graduates advance to senior positions such as Manager, Director, and Partner. 

Salaries for Master’s in Accounting Graduates

Masters in accounting graduates typically earn competitive salaries. According to the Bureau of Labor Statistics, the median annual salary for accountants and auditors was $78,000 in 2022. The highest-paid accountants and auditors earned more than $120,910. 

Top employers of masters of professional accounting in USA include: 

• Big Four accounting firms (Deloitte, PwC, EY, KPMG) 
• Investment banks (Goldman Sachs, JPMorgan Chase, Morgan Stanley)
• Management consulting firms (McKinsey & Company, The Boston Consulting Group, Bain & Company) 
• Technology companies (Google, Microsoft, Amazon) 
• Financial services companies (Visa, Mastercard, American Express)

Life as a Masters in Accounting Student in the USA

Life as a masters in accounting in USA for international students can be challenging but rewarding. The curriculum is rigorous and demanding, but students who are willing to put in the work can learn a lot and develop the skills they need to be successful accountants. 

Despite the demands of the program, many students find that their time as a student in the USA is an enriching experience. They have the opportunity to learn from world-renowned faculty, network with other talented accounting students, and gain practical experience through internships. 

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Pursuing master’s in accounting in the USA is a great investment for your future. The graduate is in high demand, with excellent placement rates and competitive salaries. 

Therefore, if you are considering pursuing masters in accounting management in the USA, we encourage you to do your research and to talk to a study abroad education consultant like Shuraa Education. A good consultant can help you to choose the right program, to prepare your application materials, and to navigate the visa process. 

Shuraa Education is among the leading study abroad education consultant with years of experience. We have a team of experienced and qualified counsellors who can help you to every step of the application process. So, contact us at info@shuraaeducation.com or through call or WhatsApp at +91 931 999 8924. 

We wish you all the best in your journey to pursuing an masters in accounting USA. With hard work and dedication, you can achieve your goals and build a successful career in accounting.

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Frequently Asked Questions

1. What are some of the top colleges for Masters in Accounting in the USA?

There are several top colleges and universities that offer excellent Masters in Accounting programs in the USA. Some of the top-ranked schools include the University of Texas at Austin, University of Illinois Urbana-Champaign, University of Southern California, University of Pennsylvania, and University of Michigan. 

2. What are the placement opportunities like for Masters in Accounting graduates?

Masters in Accounting graduates have excellent placement opportunities in various industries. Many accounting firms actively recruit from universities and offer internships and full-time positions to qualified graduates. Additionally, corporations and government agencies also hire accounting professionals for their financial departments. 

3. Are there scholarships or financial aid options available for Masters in Accounting programs?

Yes, many universities offer scholarships and financial aid options for master’s in accounting students. These can include merit-based scholarships, need-based scholarships, and graduate assistantships that provide tuition waivers or stipends in exchange for research or teaching assistance. 

4. How long does it take to complete a Masters in Accounting program in the USA?

Most Masters in Accounting programs in the USA are designed to be completed in two years of full-time study. However, some universities may offer accelerated programs that can be completed in as little as one year, while part-time options may take longer to finish.