A stable field with compelling niches and excellent work-life balance, accounting can be a great fit for analytical and ambitious professionals. There are many ways to enter this industry, but for those with big plans to pursue senior or leadership roles, there is no substitute for an accounting masters.
This academic path is not necessarily straightforward, however. There are multiple degree options related to accounting, including opportunities at the graduate level. Typically, students opt for one of two main approaches: the Master of Accountancy or the MBA in Accounting.
Both programs encourage students to develop advanced accountancy skills, but that is where the similarities end. The MBA path places a greater emphasis on comprehensive skill development, including (most importantly) leadership acumen as it applies to accounting careers.
No one path is ideal in every situation, but the MBA in Accounting has a lot going for it — networking opportunities, fascinating courses, and the sheer credibility that comes with securing one of today’s most respected degrees.
As you make plans for your graduate school journey, you may be wondering about the career implications of your future degree. Perhaps you are curious: What jobs can I get with an MBA in Accounting? We provide a deep dive into professional opportunities below while answering a crucial question: Is an MBA in Accounting worth it?
Is an MBA in Accounting Worth It?
There is no simple answer to this question, but if you aspire to make your mark in accounting-adjacent leadership or management positions, the MBA in Accounting could provide the most reliable path to career growth. This program can equip you with numerous skills that top employers demand, while also encouraging you to apply those skills through case studies, projects, and other meaningful opportunities.
You could emerge with a well-rounded skill set that helps make you a compelling hire, especially as you seek high-level roles such as financial manager or director of accounting. Also noteworthy is the confidence and prestige that accompanies the MBA — one of the most rigorous, rewarding, and respected graduate degrees.
MBA in Accounting vs. Master’s in Accounting
Multiple graduate programs promise to prepare aspiring accountants for successful careers or to help current accountants take a step up. As mentioned, top options include the MBA in Accounting and the master’s in accounting.
There is plenty to appreciate about both programs, but their scope differs considerably. The MBA explores accounting in the context of management, whereas the master’s in accounting emphasizes technical accounting tools and techniques.
Your preferred path will largely depend on what you hope to achieve in your accounting career. If leadership is a priority or you simply want to keep your professional options open, the MBA in Accounting may be a better fit.
Accounting MBA Overview
The MBA in Accounting blends technical, accounting-focused coursework with business essentials like human resource management and marketing. Experienced accounting professionals lead many of these classes, although you will also be exposed to other perspectives, particularly as they relate to business management.
Accredited by the International Accreditation Council for Business Education (IACBE), Baker College’s MBA accounting program spans two years and involves a total of 39 credit hours: 15 centered on high-level accounting concepts and an additional 24 credit hours for boosting business knowledge and skills.
8 Advantages of Earning an MBA in Accounting
There are various reasons to seek an MBA in Accounting, but in most cases, this comes down to a simple desire for career advancement. How this is achieved will vary between students, but a targeted MBA program can provide everything from comprehensive skill development to networking opportunities and, of course, a major resume boost.
To illustrate the value of the MBA in Accounting, we’ve highlighted several of the program’s most significant advantages:
1. Enhanced Accounting and Business Knowledge
Advanced accounting and business courses provide ample opportunities for skill set expansion while delving into complex topics such as global accounting and management information systems.
By taking high-level accounting and management courses concurrently, you can draw unique connections between technical accounting concepts and management principles. This will better prepare you for the nuances of leadership in accounting.
2. Preparation for Leadership Roles
It can be easy for accounting departments to lose sight of their organizations’ long-term vision or objectives as they get caught up in the day-to-day details of financial statements. Accounting leaders help balance these priorities, offering guidance for accounting team members while also interacting effectively with executives.
This takes focused preparation, which is exactly what the MBA in Accounting provides. Courses such as Human Behavior Management of Organizations highlight techniques that promote confident and strong leadership.
3. Professional Certification and Licensure Preparation
A variety of licenses and certifications can improve credibility while opening the door to a range of exciting career possibilities. Common certifications sought by MBA graduates include:
- CPA – The certified public accountant is a state license that conveys expertise in accounting. CPA designation can lead to higher earning potential and a stronger professional reputation.
- CMA – Accountants who hope to work for corporations or other private entities may prefer to seek their certified management accountant, which emphasizes accounting in the context of strategic decision-making.
No matter which certification or licensure aligns with your professional goals, you will find plenty of opportunities to prepare as you seek your accounting MBA. Coursework will expose you to many of the concepts found within the challenging CPA and CMA exams.
4. Broad Career Advancement Opportunities
The MBA in Accounting provides guidance and accountability while building a broad skill set that includes not only managerial accounting strategies but also broadly applicable skills related to information systems, research designs, and human resource management. This, in turn, opens graduates up to job opportunities beyond the scope of accounting. For example, this degree can underscore the transition from accounting to finance.
5. Competitive Edge in the Job Market
The MBA has long commanded respect across a variety of fields, as employers are well aware of the hard work and commitment MBA candidates must exhibit during the admissions process and throughout this notoriously rigorous program. Add in-demand accounting skills, and this degree becomes uniquely valuable from the employer’s perspective.
6. Enhanced Earning Potential
Pursuing a graduate credential can significantly enhance your professional prospects, and an MBA is a standout choice in this regard. Employers highly value MBA graduates for their comprehensive understanding of business operations, strategic thinking, and leadership abilities. Similarly, specialized degrees such as a Master of Accounting provide targeted expertise that is highly sought after in the industry. These advanced qualifications not only open doors to higher-level positions but also equip graduates with the skills needed to excel and advance in their chosen fields.
7. Professional Versatility
While the MBA in Accounting provides valuable preparation for high-level work in managerial accounting and auditing, its comprehensive coursework can also equip graduates to thrive in numerous other fields. As mentioned, this degree can enable a strategic transition into finance or management. However, there is still room to pursue higher-level roles in technical accounting or auditing.
8. Empowerment to Start New Ventures
Many accountants have entrepreneurial ambitions but launching a new venture can be intimidating. An MBA can provide a much-needed confidence boost, especially for those hoping to start their own accounting firms. In addition to gaining advanced accounting skills, this program provides a solid framework for developing a range of entrepreneurial essentials: a broad professional network, business communication skills, and a thorough understanding of human resource management.
What Can You Do with an MBA in Accounting?
The MBA in Accounting is a versatile graduate degree that can be leveraged among a number of career pathways. These could include many management-oriented positions along with senior accounting roles or, often, opportunities that blend these two areas. Graduates may seek to advance within the organizations for which they already work, or they may use their MBA to transition into new niches or garner strong job offers from new employers.
Potential Career Paths with an MBA in Accounting
Below, we highlight several exciting careers in accounting for accounting MBA graduates — but remember, professional options extend well beyond these common positions, with high-level accounting roles available within every sector and organization imaginable.
Certified Public Accountant
CPAs are respected accountants who have established credibility by meeting state licensure requirements. This involves passing a rigorous exam administered by the Association of International Certified Professional Accountants (AICPA). Although CPA job descriptions can vary between employers, common duties involve tax preparation and financial reporting.
Management Accountant
Management accountants compile, synthesize, and present impactful financial information to executives, with the intention of facilitating data-driven decision-making and better financial performance. They may also be involved in assessing internal controls or performance management systems.
Forensic Accountant
Forensic accounting is a fascinating field that calls for elite auditing and investigative skills. Through in-depth examinations of financial statements and other resources, forensic accountants can uncover financial misconduct and help bring perpetrators to justice.
Tax Specialist
When many people picture accountants, they think of tax professionals or specifically tax preparation. There are various types of tax specialists, though, and all need taxation expertise. Depending on the specific role, these professionals may be tasked with preparing tax returns, setting tax policies, or conducting audits.
Financial Analyst
Financial analysts assess investment performance and help guide organizations toward making prudent decisions regarding how they expend money and resources. This involves examining financial statements, evaluating historical financial data, and ultimately making portfolio recommendations.
Accounting Manager
Accounting managers oversee financial reporting, budgeting, and other functions carried out by accounting teams or departments. This is an excellent path for MBA graduates, who can leverage their integrated understanding of organizational behavior, employee development, and financial management as they relate to corporate accounting processes and procedures.
Is a Master’s in Accounting Right for You?
No single degree program will be the perfect fit for every accounting professional; a lot depends on personal goals, ambitions, skills, and experience. Often, however, these interests and abilities align with the MBA in Accounting, which provides a reliable path to career advancement while helping accountants expand their professional networks and address management skill gaps.
For many current and aspiring accountants, it is easy to answer the question, is an MBA in Accounting worth it? This degree can be more than worthwhile for ambitious and passionate students who are driven to seek accounting-driven management or entrepreneurial opportunities.
How to Find the Right Accounting Master’s Program
As you examine pathways to the best accounting careers, look to Baker College for support. Our MBA in Accounting is a go-to option for aspiring leaders who want to develop both management and advanced accounting skills. Reach out to request more information, or take the next step and apply today.