Is a Master’s Degree in Accounting Worth It?
From more flexible than you think to a foot in the door of every industry, here are five answers to the questions, “Is a Master’s in Accounting worth it, and why or why not?”
- Can Be Enriching and Enlightening
- There Are Higher Salaries, and Enhanced Career Flexibility
- Advance Your Career
- Do It Only if You Are Passionate About the Subject
- You’ll Have a Foot in the Door of Every Industry
Can Be Enriching and Enlightening
Nearly every business-related field will have to handle some measure of accounting in their standard operations. A Master’s in accounting will, therefore, open up a wide field of opportunities to find a job. While you may not be directly involved in the aspects of every business you handle the accounting for, there will still be a wide breadth of jobs.
So, while your job might stay the same, the things you learn and experience as a part of different businesses can be an enriching and enlightening experience to add to your repertoire. A Master’s in accounting can let you go just about anywhere in the business world. People should not underestimate the career flexibility that comes with this kind of experience.
There Are Higher Salaries, and Enhanced Career Flexibility
The value of a master’s in accounting is undeniable, yes. Earning a higher degree can give you access to job opportunities that aren’t available to those who only have a bachelor’s degree—job opportunities that can command higher salaries.
It also sharpens your higher-level skills and allows you to specialize even further in a certain area or develop new skills within the field. And depending on the curriculum you choose, it may enable you to gain licensure, state certification, or other credentials that can make you more competitive in the job market.
Ultimately, a master’s degree in accounting allows for greater career flexibility and recognition, which could open up many doors for your future.
Advance Your Career
Career advancement is one of the main reasons a Master’s degree in accounting can be worth it. With a Master’s degree, you take on more advanced roles and responsibilities in accounting and finance.
For example, if you have a Bachelor’s degree in accounting and are working as an entry-level accountant, a Master’s degree can open up opportunities for you to become a Senior Accountant or Manager. In these roles, you would supervise and mentor other accountants, as well as oversee financial reporting, budgeting, and other important financial tasks.
Do It Only if You Are Passionate About the Subject
One of the most important reasons for pursuing a Master’s in Accounting is to expand your career opportunities. If you have a bachelor’s degree in accounting, you will have a job as an accountant. If you have a Master’s in Accounting, you will have a job as an accountant along with the opportunity to advance into a leadership position. Your career path will enhance with a Master’s degree.
It is important to know that employers are looking for candidates with a mix of skills and experience, not just a degree. You should only pursue a Master’s in accounting if you are passionate about the subject and want to deepen your knowledge.
You’ll Have a Foot in the Door of Every Industry
No matter how advanced or independent they may be, organizations across industries require an accounting department to function smoothly. At the other end of the spectrum, even at the neighborhood brick-and-mortar store, the cash register, the book of accounts, and the year-end taxation are crucial to keeping the business running.
So, irrespective of industry or size, accounting remains a vital part of every business. This means that when someone holds a master’s in accounting, they can very well explore their options in the industry of their choice.
They can even work their way into the role of their choice and work independently or hunt down a salaried position. Very few niches have the range of options and freedom that accounting does, so a master’s degree in the field will always prove helpful.
Director, Emerald Home Improvements
Submit Your Answer
Would you like to submit an alternate answer to the question, “Is a masters in accounting worth it? Why or why not?”