If you’re interested in a career in the accounting industry, you need to have the skills necessary to prove to your employer that you know more than just the fundamentals of accounting. Enrolling in a Master of Business Administration degree with a focus in accounting will give you the edge needed to overcome the competitive nature of this marketplace. An MBA is a well-respected degree in the world of business and is well known throughout many corporations and industries. It provides you with the skills necessary to succeed in your chosen area of expertise, and gives you the opportunity to gain promotions that you may not have had previously.
What to Expect In Your MBA Program
Most MBA graduates have previously graduated from an accounting school situation with a bachelor’s degree. You will also be required to have a CPA license, or certified public accountant license, if you’re looking to make it in this field. Different states have different requirements as far as examination and necessary coursework goes, but most students will be able to apply for an MBA program if their final exam mark is at a 3.0 level or higher. Once you’re enrolled, you’ll find yourself taking courses that revolve around financial reporting, business ethics, investigation for fraud, among others. You’ll be taught a number of in depth research methods, and learn sources you can use when trying to analyze gathered data in your field. Most of the work that an accounting MBA graduate will find will revolve around auditing, taxes, and accounting on a financial level.
Career Outlooks For An Accounting MBA Graduate
Management roles and executive positions are at the top of the list for those graduating with an MBA degree in nearly any field, and this is no different for an accounting MBA. As somebody entering a field revolving around finances, you’ll find yourself looking at titles like financial planner, investment banker, finance officer, financial analyst, and budget analysis. You’ll find that these positions are necessary roles to be filled in many corporations around the world, and although many financial services may require your knowledge and expertise, this doesn’t limit you to strictly financial businesses. The government, medical and health industry, and even the educational world all require highly trained individuals with your degree and knowledge.
Although a Ph.D. in Accounting would guarantee you a higher pay rate in your field, other than that slightly high distinction, an MBA in accounting gives you an earning advantage over almost anybody else in your industry. In fact, accounting MBA graduates can earn up to three times the amount that any entry-level accounting employee would earn with a simple associates degree. You’ll also find your opportunities for salary changing with the title of your position and the place that you choose to work. The highest paying field in the financial industry for an MBA graduate falls under the title of chief financial officer, which could guarantee you a salary of around $168,000, with the lower end of the finance jobs for your degree ranging at $85,600 for a senior financial analyst. International careers for professionals that conduct business globally rather than out of a home base type of company will find that their pay grade falls into a median of about $116,000, but that will also differ per job title and location that you’re working. Some of the positions that you might fill while working abroad are sales director which has a median salary for an MBA graduate of about $137,000. Operations director and IT project manager are also valid titles, which would give you a paycheck of about $100,000 to $120,000 per year.
Of all the MBA programs available, the accounting MBA degree provides students seeking work in any financial field a higher probability of being hired in a position that pays well. Based on the skills that you acquire and your previous degrees, you can build a name for yourself in the accounting world with this program. Like other MBA’s, it’s possible to take these courses in a classroom setting or through online learning which gives you the ability to continue working in your current financial or accounting role while you develop the new skills necessary to take on a higher level of work and a more highly sought after title. The level of students hired out of an accounting MBA program is fairly successful, and lands in the higher range of 80%, but your odds go up the higher your grade point average is.
Online MBA Accounting Programs
Getting your MBA in accounting is a good move if you want to enjoy a good income and high job demand. If you want to earn your MBA in accounting more easily, you should consider an online program with no GMAT requirements. Some of the best programs include the following:
- Capella University – (Highly Recommended!) With this online MBA in accounting, you will learn a great deal about planning and controlling budgets of organizations; how to audit and evaluate computerized information systems; and how to analyze, document and report financial results. You will learn the strategic perspective that you need to interact most effectively with executive management and to have the most amount of success in upper management accounting-related positions.
- Southern New Hampshire University – (Highly Recommended!) This is an unusual online MBA with no GMAT exam with a focus on forensic accounting. You will learn what you need to know to detect and prevent accounting fraud. You will learn the traditional MBA program, and also will learn how to take accounting principles and to apply them to investigate allegations of fraud and abuse.
- Florida Tech University Online – (Highly Recommended!)If you want to have a great degree of success in the world of business, having a strong understanding of major accounting principles is an excellent way to do it. Today’s companies have to deal with much more accountability for their financial practices, so professionals with a lot of managerial accounting skills will be in great demand. You will learn in this online, no GMAT program core business principles, advanced accounting skills, and you will be qualified to take the CPA exam.
- Saint Leo University – Do you want to gain the experience and skills that you need to become a successful business leader? Then you should consider the online MBA program with no GMAT from Saint Leo University. In this accredited program, you will cover fund accounting for government, fraud examination, cost accounting with a focus of cost analysis and capital budgeting, business law for accounting, and financial statement analysis.
- University of North Dakota – This online MBA program in accounting is one of the Best Buys according to GetEducated.com. This program does not require the GMAT and is focused on planning, organizing, operating and controlling a business organization. After you graduate from this program, you will be able to diagnose, isolate and define business problems, and you will be able to make the most effective problem solving decisions. This program allows you to specialize in either accounting or international business.
- Walden University – Managers often have to figure out the most complex budget issues and to control operational costs that are always seeming to increase. This online MBA program is one that focuses on accounting for managers. You will learn accounting and financial techniques that managers can use to make better decisions and to help to increase the financial performance of your organization.
- Grand Canyon University – This online accounting master’s degree with no GMAT will give you the ability to do transformational leadership through the application of the latest business practices. This program will highlight the effects that the global economy has on decision making in organizations, sourcing and planning. This program will prepare you to compete for management positions in public and corporate accounting, and you will focus a great deal of financial accounting/reporting, management accounting and auditing and regulation.
- Colorado Technical University – In today’s business world, there are many changes to the US tax code, and also many changes in organizational reporting and corporate governance. It is important for people to have a deep knowledge of current government mandates, and also a great deal of savvy regarding the latest economic environment. This program is focused on the information that accountants need to have, and you will learn fiscal management, financial planning and reporting.
- Sullivan University – This online university is the largest accounting program in the state of Kentucky. This strong program, which will give you a master’s degree in accounting, is set up to provide aspiring CPAs with the background that they need to pass the CPA exam, and it also will give other business professionals the accounting background that they need to make strong accounting and finance decisions in their daily business.