Top Jobs With a Master's in Accounting

portrait of James M. Tobin
by

Updated June 14, 2024 · 2 Min Read

check mark Edited by
Master's degree programs in accounting can help you build deep technical knowledge and qualify for professional-track careers. Identify potential areas of interest as you plan your path.

Accounting.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.

Are you ready to discover your college program?

Credit: Kateryna Onyshchuk / iStock / Getty Images Plus

Master's degree programs in accounting help learners build deeper knowledge and more advanced technical skills. With a master's, you may be able to advance more quickly as you progress through your career.

Exam performance data highlights the value of graduate accounting education. According to a CPA Journal analysis, examinees with master's degrees post significantly higher pass rates on the Uniform CPA Examination. CPA Journal found that pass rates among master's graduates were nearly 20% higher than pass rates among bachelor's degree-holders.

The following list introduces some leading career paths open to accounting professionals with master's degrees, as measured by median and average salaries.

Popular Online Programs

Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Discover the top master's in accounting programs

Financial Manager

Financial managers direct all activities supporting their organizations' long-term financial growth and stability. They choose investments, create long-term financial plans, and evaluate progress toward monetary goals. Most work in the private sector, mainly in the finance and insurance industries. Public agencies also employ them, making the certified government financial manager (CGFM) certification relevant.

  • Job Outlook (2022-2032): +16%
  • Median Annual Salary: $156,100
  • Additional Credentials: CGFM certification (if working in the public sector)

Source: BLS

Chief Financial Officer

CFOs are C-suite executives responsible for all organizational financial activities. They oversee financial planning and analyze their company's financial strengths and vulnerabilities. CFOs also hold ultimate authority over long-term cash flow management and taxation. In most companies, CFOs rank behind only chief operating officers and chief executive officers in the corporate hierarchy.

  • Job Outlook (2022-2032): +3%
  • Average Annual Salary (May 2024): $148,250

Source: BLS, Payscale

Chief Compliance Officer

CCOs are senior corporate leaders who create, implement, oversee, and evaluate all plans related to compliance issues. In companies whose main compliance issues revolve around financial tracking and reporting, CCOs often come from accounting backgrounds. CCOs also commonly hold advanced degrees in business administration, finance, law, or taxation.

  • Job Outlook (2022-2032): +3%
  • Average Annual Salary (May 2024): $131,750

Source: BLS, Payscale

Certified Management Accountant

CMAs are accounting specialists who double as business strategists. Their accounting duties typically focus on financial accounting: tracking, recording, reporting, and analyzing transactions and financial data. They then apply those insights to help organizations optimize their financial resources and make progress toward their long-term strategic, financial, and growth-oriented goals.

  • Job Outlook (2022-2032): +4%
  • Average Annual Salary (May 2024): $101,000
  • Additional Credentials: CMA certification

Source: BLS, Payscale

Personal Financial Advisor

Personal financial advisors work with individual clients, providing financial advice and connecting them to investment options and financial products that match their individual needs. In this capacity, they help people reduce their financial risk, manage their tax needs, and select investments that align with both their financial goals and risk tolerance.

Source: BLS

Questions About a Master's Degree in Accounting Salary

Is it worth getting a master's degree in accounting?

If you plan to enter a career path with advancement potential, a master's in accounting can deliver strong returns on investment. Advanced accounting education supports your career growth and progress toward senior roles and valuable professional certifications.

Do you get paid more with a master's in accounting?

Payscale data from May 2024 indicates little difference in the average salaries earned by people with bachelor's degrees and master's degrees in accounting. However, master's degrees deliver value in other ways. For instance, test-takers with master's degrees have much higher pass rates on the Uniform CPA Exam.

Do accountants make six figures?

Many accountants with advanced professional credentials earn salaries in the six-figure range. As of May 2024, Payscale lists the average CMA salary at $101,000 per year. CPAs make nearly six figures at $98,000 per year.

Is a master's in accounting equal to a CPA?

No. A master's in accounting is an academic credential, and a CPA license is a professional credential. To get a CPA license, you must meet your state's educational and experience requirements, and pass the Uniform CPA Exam.

Recommended Reading

Search top-tier programs curated by your interests.

Let us know what type of degree you're looking into, and we'll find a list of the best programs to get you there.