A CPA license is generally considered better and more essential than a Master’s degree for a career in public accounting, offering higher salary potential and mandatory credentials for advancement to senior levels. While a Master's (MAcc/MSA) helps meet the 150-hour rule, it does not replace the CPA's prestige or legal authority, though it can aid in exam preparation.
CPAs command higher salaries than Master's in Accounting professionals. Furthermore, CPAs with specialized skills and knowledge in areas like taxation, auditing, or forensic accounting can expect to earn a higher salary than those without such expertise.
If you are working in a CPA firm and plan to do that long term, CPA is all you need. The MBA can't hurt (except in the tuition spent) but it's not going to do much for you within the CPA firm environment. Even in the world of private accounting, the CPA is more valuable than an MBA.
If you meet sit eligibility and can balance study with your master's, begin the CPA exam during the master's to maximize hiring leverage and spread workload. If the master's is intense or you need the degree to meet eligibility or employer requirements, finish the degree first and take the exam immediately afterward.
Second, an advanced accounting degree may also help you secure a higher salary. The Bureau of Labor Statistics (BLS) highlights the value of graduate education. According to BLS data from 2024, professionals with master's degrees earn an average of 19.2% more than those with only a bachelor's degree.
Yes, you can get a CPA without a master's degree, but you must still meet your state's specific education requirements, primarily the 150 semester hours of college credit and specific upper-level accounting/business courses, which a master's often fulfills easily but can also be achieved through additional undergraduate study or community college courses.
Becoming certified is a lot like getting a law license. It's proof that you've mastered the vital elements of your profession through years of academic and technical training. As a CPA, you'll also have access to jobs with higher authority and responsibility — and you'll enjoy greater career stability.
In fact, according to the Bureau of Labor Statistics, CPAs earn 10% to 25% more than non-certified accountants. However, salaries of CPAs and non-certified accountants vary by industry. They can be higher than average in industries experiencing a lot of growth, such as financial technology or software.
Con: Accounting Can Be Stressful at Times
Accountants are under high “stress during busy seasons, especially during tax season, when the hours can be very long,” says Dr. Machuca. Despite the benefits, an accounting career often brings tight deadlines, long hours, and high volumes of work during the annual tax season.
It is difficult to determine which of these careers offers a higher salary, as the salary of a CA or CPA can differ based on several factors. However, generally, CAs tend to earn more than CPAs in India.
Accountants need to be proficient in basic arithmetic, algebra, and statistics to analyze financial data, prepare reports, and ensure accuracy in their work. They may also use mathematical principles to perform tasks such as budgeting, forecasting, and financial analysis.
The value of an accounting master's degree extends far beyond education. It's also a great way to ensure future job security and land a high-paying job. Becoming a Certified Public Accountant (CPA) takes preparation and commitment, and earning a master's degree can empower you along the way.
A CPA license is considered very prestigious: The CPA license is the most widely recognized professional credential in the accounting industry.
Earn a master's degree.
While candidates can sit for the Uniform CPA exam with a bachelor's degree (120 semester hours), many states require 150 hours of education to obtain CPA licensure. A master's degree in accounting satisfies the 150-hour requirement.
Will AI replace accountants? Not entirely—but it will change accounting. Firms that embrace AI and technology will attract forward-thinking clients and top talent. Accountants who pair their expertise with AI tools will stay ahead of the curve.