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Master’s in accounting vs MBA


It's no surprise that business is the most popular field for a master's degree. In fact, business made up nearly one-quarter of all master's degrees earned in 2022, according to the National Center for Education Statistics (NCES).

But should you earn a master of business administration (MBA), or is a master's in accounting a better fit? Our guide explores everything you need to know about an MBA vs. master's in accounting.

What is a master's in accounting degree?

A master's in accounting program provides graduate-level training in advanced accounting principles. You can specialize in areas like forensic accounting, auditing, or management accounting with a master's degree. Or you can pursue your certified public accountant (CPA) license after graduation. Each program offers a different focus, so it's important to consider your professional goals before applying.

While you don't typically need a bachelor's in accounting to enroll in a master's program, most programs require accounting and business prerequisites. You'll spend between one and two years earning a master's in accounting.

What jobs can you get with a master's in accounting?

With a master's in accounting, you can become a certified public accountant, specialize in management accounting, or pursue related roles in finance and budgeting. See potential career options below, with salary data from the Bureau of Labor Statistics (BLS).

Accountant

Median annual salary (2023): $79,880

Budget analyst

Median annual salary (2023): $84,940

Personal financial advisor

Median annual salary (2023): $99,580

What is in an MBA program?

A master's in business administration program includes advanced coursework in management, with an emphasis on diverse fields such as marketing, human resources, finance, and accounting. You'll strengthen analytical and decision-making skills while evaluating case studies and completing projects.

Top business schools require a strong GPA and GMAT scores for admissions. Earning an MBA typically takes two years, though some business schools offer accelerated one-year MBA programs. You can also declare a concentration to focus your coursework.

What jobs can you get with an MBA?

An MBA prepares you for management-level roles in finance, accounting, marketing, human resources, and other areas. You can also pursue a consulting career. Find possible career paths below, with salary data from the BLS.

Financial manager

Median annual salary (2023): $156,100

Marketing manager

Median annual salary (2023): $157,620

Management analyst

Median annual salary (2023): $99,410

What is in an MBA in accounting program?

If you can't decide between an MBA vs. a master's in accounting, you can always consider an MBA in accounting. During the program, you'll take core business classes in management, finance, and marketing, plus graduate-level accounting courses.

An MBA in accounting offers the career versatility of an MBA with the specialization of a master's in accounting. These programs typically take two years to complete, and they may help you meet the requirements for a CPA license.

Which one is right for me — MBA vs. master's in accounting?

Should you earn an MBA or a master's in accounting? If you're still stuck, consider your interests and career goals.

Get an MBA if…

  • You're considering management careers outside of accounting
  • You want a broader curriculum that covers topics outside of accounting
  • You aren't sure accounting is the best fit for your skills

Get a master's in accounting if…

  • You need 150 credits to become a CPA
  • You're interested in specialized roles like forensic accountant or governmental accountant
  • You aren't interested in marketing, human resources, or other core MBA courses

How much does an MBA vs. a master's in accounting cost?

The cost of an MBA vs. master's in accounting depends on the school, delivery format, and financial aid. The NCES reports that the average tuition and fees paid for master's in business and management fields across all institution types was $16,120 per year in 2020.

How much can you expect to pay? Start with posted tuition rates, and then consider other expenses, such as textbooks. Consider ways to lower costs, such as tuition discounts for distance learners or in-state tuition discounts. Research financial aid — by choosing an accredited institution, you'll qualify for federal student aid options. And reach out to universities to learn about the total cost of a degree.

Frequently asked questions about MBA and master's in accounting degrees

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