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What are the benefits of of getting a masters in accounting

Accounting student at Towson university #accounting

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Samantha’s Answer

Hi Ayomide! It's a big decision to determine whether to get a Master's degree in accounting. I personally did not get one, but a lot of the people I work with did. I think the first thing you should consider is what type of work you want to do, and if a CPA license will be required for that work. For example, I work as an auditor at a public accounting firm, where I help audit financial statements of large public companies. For my company, most people either have their CPA license when they start, or obtain it within the first few years of working there. Other accounting fields such as tax or bookkeeping often require you to be a licensed CPA as well.

If you want to become a CPA, you will have to meet certain requirements (which vary by state), including having taken a certain minimum number of overall credit hours, and a minimum number of specialty technical accounting credit hours. A lot of people choose the option of getting a Master's degree to meet these requirements, because typical undergraduate programs might not offer enough technical accounting classes. An added bonus is that these accounting classes will help you prepare and study for the CPA exam, which you are eligible to take after you have met the applicable state requirements.

Best of luck!
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Rachel’s Answer

I got a Masters in Business Taxation, and I'm very glad I did. Not only did I learn about topics I'm routinely dealing with in my working life, but I also improved some of my soft skills, both of which have helped me in my job as a Tax Associate at PwC. To top it off, I was even able to study for and pass a few of the CPA exams while I was in grad school. Now that I see many of my peers at work trying to balance work and CPA studying, I'm very glad I used that time to get those done.

If you don't want to go straight from undergrad to grad school you could go back for your Masters later.
Many employers, PwC included, will help pay for your grad school education so if the cost is a concern to you, you may want to consider waiting and doing it after you've been working.

Still, many of my coworkers don't have a Masters degree, and that's totally fine. If you can find other ways to get the education hour requirements for the CPA license, you may not need to get a Masters. It's up to you. It's a great experience, but you have to be committed to get the most out of grad school.
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Russell’s Answer

In today's competitive employment world, education is the way to differentiate yourself as well as learning additional aspects. You do need to think about ROI for the cost of the school, and doing so at night while working can be very cost effective. The benefits are average salaries of higher for those with masters degrees and there are increased job opportunities, and it can help to transition to different areas of accounting as well increase your overall understanding of financial accounting which can make you a better candidate for promotion.

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Katie’s Answer

There are many benefits of of getting a masters in accounting. Accounting is a complex area of business and the more you know about it, the better you will be prepared for the workforce. A masters degree will increase you knowledge and make you more marketable when you are applying for jobs. Also, if you are going to get your CPA license, a masters degree will help you get to you the number credits that you need. More education is never a bad thing to have in life.
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