Can a Master’s in Accounting Help Your Career?
November 30, 2012
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Earning an advanced degree such as a Master’s degree requires a significant investment in terms of time and money. For some individuals this means leaving their current job to return to school full-time in the hope of returning to the career field and experience greater career options with higher pay. Others invest money they may not even have to continue immediately after their undergraduate education with a graduate program, with the same end goal in mind of a brighter set of career options with higher pay.
The big question for each of these individuals is whether or not a Master’s in accounting can help their career. A degree that isn’t worth the money it is printed on is a waste of time and money, so being aware of what a Master’s degree can do for your career is imperative before enrolling in any program.
Pursue a Career Built to Last
Yahoo! Education ranked accountants among the top five career options that are built to last. Earning an education in accounting helps prepare individuals to work in a field that possess a strong and constant demand. Government agencies, corporations, non-profits, and individuals alike need assistance keeping their financial books in order.
Switch Fields
Not every individual that finds themselves involved in accounting started out with an undergraduate degree in that field, or even working in that field early in their career.Yahoo! Education recently ranked accountants and personal financial advisors among the top career change options for working adults with career experience in business.
Whether keeping track of financial records for a large corporation or helping individuals plan for retirement, these two positions were deemed to be great options for those with experience in the financial sector of business looking to make a career change.
Attract Employers to You
The best way to stand out from the other candidates when applying for a job is to become more marketable to a potential employer than the other individuals applying. Accounting degrees were recently ranked #2 by Yahoo! Education on a list of degrees that attract employers.
Employers often search for skilled and educated accountants to hire as a result of the recent economic recession. As a part of the fallout from the financial mess, the finance industry faces increased oversight and tighter regulations. This means companies are seeking individuals with the talent to navigate these regulations and keep accurate financial records.
Various Careers Await
Accounting in particular, and to wider degree finance as a whole, has a reputation for being a boring occupation. According to Monster.com, this couldn’t be farther from the truth. A career in accounting doesn’t have to equate to a lifetime spent huddled over a calculator, pouring over data nine hours a day for 40 years.
Citing Clar Rosso of the California Society of Certified Public Accountants, there are in fact a number of exciting career options available for those with a Master’s in accounting or other finance-related degree. Some of the following are examples of these atypical careers:
- Personal Financial Advisor: Movie stars and legendary athletes have the potential to earn millions of dollars in their lifetime, but that doesn’t mean they are prepared to handle that money. PFAs working for stars and athletes experience a tremendous sense of power through their position because they advise stars on how to handle their millions, and occasionally get perks for doing so such as premier passes and visits to movie sets.
- Forensic Accountant: These accountants work to fill in the blanks that were negligently or purposefully left empty on financial records. Every case is different and forensic accountants are challenged with each job to solve a new problem and actively engage their brain in a different way.
There are many things a Master’s in accounting can do for an individual’s career. No two people will experience the same results, but nevertheless there are benefits to earning a Master’s in accounting that translate easily into a future career plan.
Sources:
http://career-advice.monster.com/job-search/company-industry-research/accounting-myth-vs-reality/article.aspx
http://education.yahoo.net/articles/careers_built_to_last.htm?kid=MQMT
http://education.yahoo.net/articles/career_change_options_for_adults.htm?wid=1004&svkid=MQMS&usid=e5a6e1e1-49cc-46b3-9cdc-b1f8a11eaf7c
http://education.yahoo.net/articles/most_marketable_degrees.htm?wid=1004&svkid=MQMS&usid=e5a6e1e1-49cc-46b3-9cdc-b1f8a11eaf7c
http://career-advice.monster.com/career-development/education-training/accounting-education-options/article.aspx