If you are preparing for a rewarding career in accounting, you may want to consider the benefits of earning a Master of Business Administration in Accounting. A graduate degree can open the door to high-paying CPA (Certified Public Accountant) positions and competitive starting salaries.
The online MBA with a concentration in Accounting from the University of Southern Indiana (USI) will develop managerial and leadership skills while cultivating your ability to analyze complex corporate problems from a global perspective. The courses in this 100% program can give you the knowledge you need to take your accounting career anywhere you want to go in the field.
Benefits of Earning an MBA in Accounting
MBAs in accounting offer the opportunity for higher salaries, promotions and certifications. Here are a few of the reasons business professionals choose to further their studies and training with an MBA in accounting.
The average salary of an accountant with an MBA is $90,000, according to PayScale (November 2019). That is significantly higher than the average annual salary for an accountant with only a bachelor’s degree ($50,937), according to PayScale. Those figures are even more impressive for accountants who are promoted to upper-level management positions, such as finance managers ($90,657) or chief financial officers ($132,261).
Many accountants aspire to become a Certified Public Accountant. That title is only possible after passing the comprehensive CPA exam. Many states require individuals to fulfill upper-level courses such as Accounting Regulation & Compliance or Financial Statement Analysis. Those courses are not available at the undergraduate level, but they are often taught as part of an MBA program in accounting.
Accountants with a CPA license earn 10% more per year than their non-CPA-licensed colleagues, according to Sapling. Accountants with an MBA and a CPA earn an average salary of $87,525 across all levels of experience.
CPA Exam Preparation
Many of the concepts that are tested by the CPA exam are taught in accounting MBA programs. By completing an MBA in accounting, you can fulfill the upper-level course requirements while simultaneously studying many of the topics tested by the CPA exam. The four tests of the CPA exam cover: Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), Auditing and Attestation (AUD) and Regulation (REG).
MBA graduates are better prepared to pursue upper-management positions, because many management and leadership positions require candidates to hold more than an undergraduate degree. Many of the highest-paying positions within accounting firms require some level of leadership training. Potential leadership positions include business consultant, chief operating office, revenue manager, financial manager, management analyst and technical account manager.
Propel Your Career Forward With an MBA
Whether you are finishing your undergraduate degree in accounting or wish to further your existing accounting career, an online MBA from USI can propel your career forward while preparing you for the comprehensive CPA exam. In addition to learning key leadership skills, this program cultivates students’ ability to navigate complex business problems from a global perspective. Each course is taught by the same USI faculty you would find on campus.
Learn more about the USI online MBA with a concentration in Accounting program.