A MAcc degree equips you for roles beyond traditional accounting, including finance and consulting. Modern accountants use analytics and technology to drive innovation and decision-making. MAcc graduates thrive in specialized areas like forensic accounting, IT auditing, and sustainability reporting.
The Master of Accounting program (MAcc) prepares graduates for careers in public accounting, industry, consulting, financial services, and government.
It Can Help You Get A Finance Job
One of the most obvious reasons for selecting a minor in accounting is that you plan to work in the banking or financial industry. A minor in accounting is frequently obtained along with a degree in: business.
What jobs can you get with a master's degree in Accounting?
Can you make $500,000 a year as an accountant? It is possible, but labor market data suggests it is rare for accountants to earn such a lofty annual salary.
Fast-forward a few years, and Erica now runs an accounting practice making over $200,000 yearly—on less than 15 hours of work per week.
Top 15 Highest Paying Accounting Jobs (Inc Salaries)
A MAcc degree equips you for roles beyond traditional accounting, including finance and consulting. Modern accountants use analytics and technology to drive innovation and decision-making. MAcc graduates thrive in specialized areas like forensic accounting, IT auditing, and sustainability reporting.
The Impact of a Master's Degree in Accounting on Salary
The average salary for individuals holding a Master of Accounting (MAcc) degree is around $81,000 annually, compared to reports that a Certified Public Accountant can earn an average base salary of $76,000.
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.
The most common entry-level accounting jobs include tax preparer, bookkeeper, and accounting assistant. These roles generally do not require a bachelor's degree and report average salaries of around $50,000 per year.
Overview of Accounting Careers Without CPA
For example, some accountants may end up working for an accounting firm. Others, however, may choose to work independently and represent their own private clients. In some cases, accountants without a CPA may work in consulting or even auditing roles.
The AAT qualification is typically the minimum level expected of an accountant, but to become a chartered accountant, you'll need to progress to the ACCA, ACA or CIMA qualifications.
The accounting field offers significant earning potential, with seven high-level careers—led by the Chief Financial Officer (CFO), which averages up to $570,579 annually—that require substantial experience and key credentials like the Certified Public Accountant (CPA) license.
If you're looking for career advancement, a MACC program is a great way to develop your analytical skills, deepen your knowledge of accounting principles, learn the latest technology and improve your management capabilities.
The minor is especially useful to students whose career paths are in business, not-for-profit and governmental organizations where dealing with financial issues will be an important part of their duties.
Can accountants make 300k? Yes, it is possible for accountants to make $300,000 a year or more, especially those working in public accounting or executive finance roles. However, salaries at this high level typically require extensive experience, professional qualifications, and a track record of success.
Manager or Director with a CPA
Executive management positions are another top position for CPAs with experience, and these positions can pay six figures. The median salary for top executives in 2021, as reported by the BLS, was $179,520.
Due to education and licensing requirements, CPAs are typically more qualified to pursue higher level jobs than bachelor's-level accountants. They also tend to have a deeper understanding of topics in accounting and finance, including tax law and data analysis.
As you work toward becoming a CPA, there are some other letters you can earn behind your name. Two of the most popular are MAcc (Master of Accountancy) and MBA (Master of Business Administration). Which ones you get, if any, is a matter of preference—so how do you know which one is right for you?
The better degree depends on your career goals. An MBA offers broad business leadership skills, ideal for management or executive roles. A master's in accounting focuses on technical expertise, preparing students for careers as CPAs or financial analysts. If you want flexibility across industries, choose an MBA.
Students with undergraduate accounting degrees can complete the MAcc program in 10 to 15 months. Depending on required prerequisites, non-accounting undergraduates can finish the program in one-and-a-half to two years. The full-time program includes 30 credit hours of curriculum.
A $400K salary job typically refers to a high-paying position in industries like medicine, law, finance, or technology. These roles often require advanced degrees, specialized skills, and years of experience. Examples include surgeons, top-level executives (CEOs, CFOs), investment bankers, and successful entrepreneurs.
According to the BLS, accountants and auditors earn an average annual salary of $90,780 as of May 2023. However, the salary range is wide: accountants and auditors in the lowest 10% earn less than $50,440 per year, while those in the top 10% earn more than $137,280 per year, according to the BLS.
While accounting might seem like a conservative and unexciting career choice, history tells a different story. Many of today's billionaires started their careers as accountants, and their financial acumen laid the groundwork for their later success.