Is a Master of Accounting Worth It?

How to Decide Whether a Master's in Accounting Is Right for You

A master's in accounting is a graduate-level degree that requires additional schooling beyond a bachelor's degree. Program length varies by school, course load and whether you attend full or part time.

From your current lifestyle and responsibilities to your long-term career goals, plenty of factors play into whether you should pursue a master of accounting. To make a well-informed decision, look at the choice from many angles—professionally, financially and personally.

Here are a few things to consider when asking if an accounting master's is worth it:

1. Professional Goals

First and foremost, think about the future career you desire. A master of accounting offers deeper technical knowledge in the field and exposure to the latest developments (new technology, trends, laws, etc.).

If becoming a certified public accountant is your goal, a master's in accounting can help prepare you for the CPA Exam. Many states have traditionally required accountants to complete 150 semester hours of college education—30 more than a typical bachelor's degree—before they can be licensed, and the credits from a master's program can fulfill, or partially fulfill, that requirement.

That said, the path to licensure is changing. In 2025, the National Association of State Boards of Accountancy (NASBA) and the AICPA added a new pathway to their model licensing law that lets candidates qualify for a CPA license with a bachelor's degree in accounting (120 semester hours) plus two years of supervised experience, instead of the traditional 150 hours. According to the AICPA, roughly half of all states had adopted this newer pathway as of late 2025, with about 22 more planning related legislation in 2026, alongside the existing 150-hour and graduate-degree pathways. Whether a master's is still the most direct route to CPA licensure now depends on where you plan to practice, so check with your state's board of accountancy for its current requirements before deciding.

However, if your career goals span outside the field of accounting, pursuing an MS in accounting may not be the right choice for you. If you desire to lead your organization and develop a broad knowledge of multiple business disciplines, an MBA could be a better fit.

A master's in accounting and an MBA with an accounting concentration serve different purposes: a master's in accounting goes deeper into technical accounting topics, while an MBA is built around broader business and leadership training with an accounting focus. Compare specific programs for their exact coursework, format and length.

Just as you can pursue a master of accounting online, you can also get an MBA online.

2. Current Lifestyle

When asking yourself, "Is a master of accounting worth it?" think about your lifestyle and how it might shift in light of this new pursuit.

• Are you working full time?
• Do you see yourself returning to an academic setting?
• Do you have the time to take classes and work as a full- or part-time student?
• Will your current employer pay for your master of accounting?

Asking yourself these questions can help form a picture of what your life would look like in an accounting master's program. Take into account your current commitments and determine what you would have to cut back on to pursue graduate school.

Online accounting master's programs offer a more flexible path to a master of accounting. If you can't commit to pursuing school full time or leaving your current job, consider pursuing a master of accounting online.

3. Program Requirements

Last but not least, understand what is required of you as you work toward a master of accounting. Whether you decide to take on graduate school as a full-time student or balance the load with a part-time approach, there are commitments you will have to make.

Keep reading for a look into what's needed to pursue your master of accounting.

Admissions: To enter graduate school, you must complete the admissions requirements outlined by your school of choice. Requirements — including standardized testing, prior-major prerequisites and credit-transfer policies — vary significantly from program to program, so check the admissions page of any program you're considering for its current, specific policies.

You might be wondering, "Can I get a master's degree in accounting without a bachelor's in accounting?" That depends entirely on the program. Check with the specific graduate program you're applying to about whether it admits non-accounting undergrads and what prerequisite coursework, if any, it requires.

Time: How long an accounting master's degree takes depends on the program, whether you attend full or part time, and your previous coursework. The rigorous curriculum and technical depth may also require setting aside additional time for homework and studying beyond scheduled class time.

Financial commitment: The price tag for MS in accounting programs varies significantly by school, credit-hour requirements, residency status and other factors, compare specific programs for exact costs. Financing options such as grants, employer support and scholarships may be available; check what each program and employer offers.

What you'll study: Coursework and any available concentrations vary by program, ask any school you're considering for its specific curriculum.

4. Earning Potential

Accounting offers strong earning potential at the occupational level. According to the U.S. Bureau of Labor Statistics, the median annual wage for accountants and auditors was $83,680 as of May 2025, and the top 10% of earners in the occupation made $144,090 or more.

Several related roles pay more, on an occupational basis: the BLS reports median annual wages of $166,570 for financial managers, $108,510 for top executives, and $101,860 for management analysts, also as of May 2025. These figures describe pay by occupation, not by degree held, OEWS does not measure how a graduate degree affects earnings.

For a closer look at how accountant pay breaks down by experience and specialization, see our accountant salary and career outlook guide.

What Are the Benefits of a Master of Accounting?

A master of accounting involves more advanced coursework and, for many students, more contact with faculty and peers than a bachelor's program. Here's what that looks like in practice.

Graduate coursework typically goes into more advanced material in tax, audit and financial reporting than a bachelor's program does. Time in a graduate program also means regular contact with accounting faculty and fellow students.

According to an AICPA survey, three-quarters of firms that hired in 2024 expected to add a similar number of staff or more in 2025.

A master's degree is not required to work in accounting. The sections below cover how it can add technical depth and connect to CPA licensure requirements.

How Does Life Change After an Accounting Master's?

What can you expect after obtaining your master of accounting? The good news is you have several potential paths for your career.

One path is toward a CPA license, since accounting master's coursework may help fulfill a state's 150-semester-hour education requirement for the CPA Exam. In a growing number of states, an alternative pathway instead allows a bachelor's degree in accounting plus two years of supervised experience, without a master's degree, so check your state's board of accountancy for its current rules.

Another path leads toward roles that involve high-level financial strategy. Working as a financial manager, management analyst or top executive can call on decision-making and strategic-planning skills.

Alternatives to Accounting Master's

Are you still wondering, "Should I get my master's in accounting?" Keep reading to learn about accounting degree alternatives and determine if there is a better fit for your career goals.

1. CMA or CPA Credential

Becoming a certified management accountant (CMA) is another alternative to obtaining a master of accounting.

Consider pursuing a CMA credential if you would like to do industry work and see yourself in a management role. According to the Institute of Management Accountants (IMA), CMA candidates need active IMA membership, a bachelor's degree from an accredited college or university (or a related professional certification), two continuous years of professional experience in management accounting or financial management, and a passing score on both parts of the CMA exam. The exam parts must be passed within three years, and the education and experience requirements completed within seven years of enrolling. A master's degree is not part of the IMA's stated requirements.

A certified public accountant (CPA) typically handles auditing and assurance work, tax preparation and planning, and financial consulting, in settings that range from public accounting firms to corporate finance, government and nonprofit organizations.

While you are not required to have a master of accounting degree in order to apply for the CMA or CPA credential, you can pursue either credential with just a bachelor's degree, provided you meet each issuer's other requirements.

2. Chartered Financial Analyst

The chartered financial analyst (CFA) is a professional designation, not a job title, within the field of finance, earned through the CFA Program. It signifies that one is a specialist in investment management. Eligibility to enter the CFA Program is broader than a single path: CFA Institute's current policies allow entry through a combination of education and, in some cases, work experience, not only a completed bachelor's degree. Earning the charter itself is a separate, multi-year process—candidates must pass all three exam levels, complete the Practical Skills Modules, accumulate at least 4,000 hours of qualifying work experience over a minimum of 36 months, and meet membership and professional-reference requirements.

Conclusion

To sum it up, a master of accounting can offer deeper knowledge of accounting as well as skills in management and strategic problem-solving. Whether you're looking to build technical depth or work toward CPA licensure, a master of accounting is one path toward those goals.

Obtaining a master of accounting requires substantial focus and commitment, but you must also weigh the potential rewards, including how your state's specific CPA licensure requirements factor into the decision. The accounting profession can offer an array of job opportunities, and a graduate degree is one of several ways to pursue them.