Careers with a Master of Accounting Degree
September 17, 2012
•Accounting
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Earning an enhanced education is often viewed as one of the fastest ways to increase an employee’s desirability among employers. When an individual decides to earn a higher degree, such as a Master’s degree, they are making the decision to enhance their educational base and help improve their chances of better employment. The belief among many is that a better education makes them a better choice for advancement within a current company or for higher positions with a new employer.
Of course, not everyone experiences great results from earning a Master’s degree, but that doesn’t mean it isn’t worth pursuing. There are plenty of accounting career fields available that offer challenging work experience, but some of the best positions available to accountants can be attained by those who have completed a Master of Accounting program.
Accountants and Auditors
Whether graduates go into the public or private accounting field after school, a Master’s in Accounting is one of the best ways to provide quicker access to higher levels of employment. Bachelor’s degrees can provide access to entry level positions, but in order to reach management accounting positions students often need a Master’s degree, as well as experience the field.[bls.gov]
Those with extremely high goals, such as becoming a Chief Financial Officer, are not going to reach their goals without a Master’s degree in Accounting and several years of experience. In order to be handed the keys to an entire company’s finances, such as a CFO does, individuals will need to have more than just a Bachelor’s and a few years of on-the-job experience.
Education
It may come as a surprise, but there are those individuals who use their Master’s in Accounting to become post-secondary teachers. Many colleges and universities only hire those with a graduate degree to teach future generations of accountants, auditors, and financial experts. Some schools require individuals have Ph.D. in order to teach, but a Master’s degree will suffice in some instances. [ bls.gov]
Financial Managers
It is the job of financial managers to oversee the financial health of organizations by analyzing current finances, directing investment projects, and develop long-term financial strategies. Examples of specific positions within financial management include controllers, treasurers, finance officers, and risk managers. Not all employers require financial managers to have a Master’s in Accounting, but more and more organizations are looking to hire those with advanced degrees. Management positions also often require experience in the accounting field. [ bls.gov]
Financial Analysts
Financial analysts work to guide the investment projects of a business. This is achieved by examining the current and historical performance of stocks, bonds, and other investment opportunities in search of trends. Not every position within the financial analyst field requires a Master’s degree, but there are two particular positions which require a Master’s in Accounting.
In order to work as a Portfolio Manager or Fund Manager, individuals will need a Master’s degree and work experience. Both positions require individuals to lead a team of financial experts and make split-second decisions regarding investment options. [ bls.gov]
There are a variety of career fields waiting for those who have successfully completed a Master’s in Accounting program. No two individuals will experience the same success, even with equal degrees in similar fields. Regardless of the career field an individual takes, the value of their Master’s degree is in the eyes of potential employers.
Sources:
http://www.bls.gov/ooh/management/financial-managers.htm#tab-4
http://www.bls.gov/ooh/management/financial-managers.htm#tab-2
http://www.bls.gov/ooh/education-training-and-library/postsecondary-teachers.htm#tab-4
http://www.bls.gov/ooh/Business-and-Financial/Accountants-and-auditors.htm#tab-4
http://www.bls.gov/ooh/business-and-financial/financial-analysts.htm#tab-2
http://www.bls.gov/ooh/business-and-financial/financial-analysts.htm#tab-4