Masters in Accounting in USA – Top Universities, Scholarship, & Career Path

Did you know that the demand for accountants in the USA is expected to grow by 7% from 2020 to 2030, according to the Bureau of Labour Statistics? This rising need highlights the critical role accounting professionals play in today’s dynamic financial landscape. For many aspiring accountants, pursuing a Master’s in Accounting in the USA is a strategic move to gain specialized knowledge and improve career prospects.

However, navigating the process of applying for and succeeding in a Master’s program can be daunting. Students often face challenges like choosing the right university, meeting stringent admission requirements, and balancing work and study. But with proper guidance, research, and a clear strategy, these obstacles can be overcome. This blog will help you understand how to effectively tackle these challenges and make informed decisions about your academic journey in accounting.

Why study MS in Accounting in USA ?

Pursuing a Master’s in Accounting in the USA offers numerous advantages:

• High Demand: The US Bureau of Labour Statistics predicts a 6% job growth for accountants and auditors from 2021 to 2031.
• Lucrative Salaries: Accountants with a master’s degree earn an average salary of $77,250 annually, significantly higher than those with only a bachelor’s.
• Top Universities: The USA houses top accounting programs, including those at the University of Texas and the University of Illinois.
• Global Opportunities: US accounting standards (GAAP) are widely recognized, enhancing global career prospects.
• CPA Preparation: Master’s programs often integrate CPA exam preparation, a key credential for advancing in the field.

Top 10 Universities for Masters in Accounting in USA

Here is a table listing the top 10 US universities for an MS in Accounting, including their world ranking, program details, duration, nature of the program, and course fee:

University	World Ranking	Program	Duration	Nature	Course Fee
University of Texas at Austin	42	Master in Professional Accounting	1 year	Full-Time	$48,000
University of Illinois at Urbana-Champaign	72	MS in Accountancy	1 year	Full-Time	$39,000
University of Michigan	23	Master of Accounting	1 year	Full-Time	$60,000
University of Southern California	112	Master of Accounting	1 year	Full-Time	$63,000
New York University	26	MS in Accounting	1 year	Full-Time	$54,000
Indiana University Bloomington	170	MS in Accounting	1 year	Full-Time	$44,460
University of Notre Dame	210	MS in Accountancy	1 year	Full-Time	$56,000
University of North Carolina at Chapel Hill	60	Master of Accounting	1-2 years	Full-Time/Online	$61,050 (full-time)
University of Florida	173	Master of Accounting	1 year	Full-Time/Online	$30,000
Boston College	431	MS in Accounting	1 year	Full-Time	$54,360

Masters in Accounting in USA – Popular Specializations 

Here is a table listing popular Master’s in Accounting specializations offered by US universities, along with their annual tuition fees and 2024 application deadlines:

University	Popular Specializations	Annual Tuition Fee	2024 Application Deadline
University of Texas at Austin	Auditing, Taxation, Financial Reporting	$48,000	March 1, 2024
University of Illinois at Urbana-Champaign	Taxation, Financial Reporting, Auditing	$39,000	February 1, 2024
University of Michigan	Financial Reporting, Auditing, Taxation	$60,000	January 15, 2024
University of Southern California	Taxation, Business Valuation, Auditing	$63,000	March 15, 2024
New York University	Financial Accounting, Forensic Accounting	$54,000	February 15, 2024
Indiana University Bloomington	Taxation, Auditing, Financial Analysis	$44,460	January 15, 2024
University of Notre Dame	Financial Reporting, Taxation, Auditing	$56,000	March 1, 2024
University of North Carolina at Chapel Hill	Taxation, Financial Reporting, Auditing	$61,050	February 15, 2024
University of Florida	Auditing, Taxation, Forensic Accounting	$30,000	February 1, 2024
Boston College	Financial Reporting, Auditing, Taxation	$54,360	January 15, 2024

Masters in Accounting in USA – Course Curriculum

The course curriculum for a Master’s in Accounting in the USA typically includes a mix of core courses, electives, and practical experiences designed to provide a comprehensive understanding of accounting principles and practices. Here’s an overview of a typical curriculum:

Core Courses	Elective Courses	Practical Experience
Financial Accounting	Forensic Accounting	Internships
Managerial Accounting	International Accounting	Capstone Projects
Auditing and Assurance Services	Advanced Taxation	Case Studies
Taxation	Accounting Information Systems	Practical Workshops
Accounting Information Systems	Governmental and Non-profit Accounting	Research Projects
Financial Reporting	Business Law for Accountants	CPA Exam Preparation
Advanced Accounting	Financial Statement Analysis	Consulting Projects
Ethics in Accounting	Strategic Cost Management	Professional Development Seminars
Business Law and Regulation	Risk Management	Networking Events
Quantitative Methods for Accounting	Corporate Governance	Guest Lectures from Industry Experts
Economics for Accountants	Financial Planning and Analysis	Study Abroad Opportunities

Masters in Accounting in USA – Admission Requirements

To be eligible for an MS in Accounting program in the USA, international students must meet the following eligibility criteria:

• Educational Background: A bachelor’s degree from an accredited institution. While a degree in accounting or a related field is preferred, it is not always mandatory.
• GPA Requirements: Most programs require a minimum GPA of 3.0 on a 4.0 scale.
• Standardized Tests: Submission of GMAT or GRE scores to demonstrate readiness for graduate-level coursework. Some programs may waive this requirement based on professional experience or prior academic performance.
• English Proficiency: Non-native English speakers must provide TOEFL or IELTS scores to prove English language proficiency.

Application Process

International students applying to an MS in Accounting program must follow these steps:

1. Prepare Application Materials: Gather necessary documents, including:
   • Transcripts: Official transcripts from all post-secondary institutions attended.
   • Resume: A detailed resume highlighting academic achievements, work experience, and any relevant internships.
   • Letters of Recommendation: Typically, two to three letters from academic or professional references who can attest to the applicant’s qualifications and potential.
   • Personal Statement: An essay outlining the applicant’s career goals, reasons for pursuing an MS in Accounting, and how the program will prepare students for their desired career path.
2. Submit Test Scores: Provide official GMAT/GRE scores and, if applicable, TOEFL/IELTS scores.
3. Application Form: Complete the online application form provided by the university, ensuring all sections are accurately filled out.
4. Application Fee: Pay the non-refundable application fee, which varies by institution.
5. Interview: Some programs may require an interview as part of the admissions process. This can be conducted in person, over the phone, or via video conferencing.

Scholarship & Financial Aid Options for International Students 

Here’s a table listing some of the scholarship and financial aid options available for international students studying  Master’s in Accounting in the USA.

Scholarship/Financial Aid	Institution	Eligibility Criteria	Award
AICPA Scholarship for Minority Accounting Students	American Institute of CPAs	Minority students enrolled in an accounting program, GPA of 3.0 or higher	Up to $5,000
Fisher Accounting Scholarship	University of Texas at Austin	Full-time accounting students with academic excellence	Varies
KPMG Scholarship	Various partner institutions	Full-time accounting students, strong academic record, leadership potential	Up to $10,000
Graduate Merit Scholarship	University of Illinois at Urbana-Champaign	High academic achievement, leadership qualities, financial need	Up to $10,000
Merit-based Scholarships	University of Southern California	Exceptional academic and professional accomplishments, demonstrated leadership	Varies
Dean’s Scholarship	New York University	Outstanding academic performance, demonstrated financial need	Varies
Graduate Assistantships	Indiana University Bloomington	Graduate students with academic merit, available to work as teaching or research assistants	Tuition remission, stipend
Notre Dame Fellowships	University of Notre Dame	High academic performance, strong recommendations, demonstrated leadership	Varies
Kenan-Flagler Business School Scholarships	University of North Carolina at Chapel Hill	Full-time students with outstanding academic records and leadership potential	Varies
Alumni Fellowship	University of Florida	Graduate students with high academic achievements and financial need	Varies

Career Prospects 

After studying a Masters in Accounting in the USA, accounting professionals can expect diverse career opportunities. The demand for accountants and auditors is high, with roles in public accounting, corporate finance, and consulting. This growing demand ensures promising career prospects and competitive salaries.

Job Designation	Median Salary (USD)	Median Salary (INR)
Certified Public Accountant (CPA)	$77,250	₹6,333,750
Financial Analyst	$83,660	₹6,856,120
Internal Auditor	$73,560	₹6,030,960
Forensic Accountant	$80,000	₹6,560,000
Tax Advisor	$85,000	₹6,965,000
Management Accountant	$95,000	₹7,790,000
Auditing Manager	$120,000	₹9,840,000
Budget Analyst	$79,940	₹6,555,080
Controller	$130,000	₹10,660,000
Chief Financial Officer (CFO)	$185,000	₹15,170,000

Top Recruiters

Here are some of the top recruiters who frequently hire international students after they complete their Master’s in Accounting in the USA:

1. Deloitte
2. PwC (PricewaterhouseCoopers)
3. Ernst & Young (EY)
4. KPMG
5. BDO USA, LLP
6. Grant Thornton LLP
7. RSM US LLP
8. McKinsey & Company
9. Goldman Sachs
10. JP Morgan Chase & Co.
11. Bank of America
12. Citi
13. Amazon
14. Microsoft
15. Apple

These firms offer a range of opportunities in auditing, tax, consulting, financial analysis, and other areas of accounting. They are known for their diverse and inclusive hiring practices, often seeking out top talent from international student populations.

Masters in Accounting In USA without GMAT

Many universities in the USA offer Master’s in Accounting programs that do not require GMAT scores. These programs are ideal for students with strong academic backgrounds or relevant work experience.

Universities Offering GMAT Waivers

1. Northeastern University: GMAT waivers available for students with a GPA of 3.0 or higher.
2. DePaul University: Waives GMAT for applicants with substantial professional experience.
3. Rutgers University: GMAT waiver for students with a GPA of 3.0 and higher from an accredited institution.
4. Suffolk University: GMAT waivers for applicants with significant work experience or high academic performance.

Eligibility Criteria

• Academic Excellence: A strong undergraduate GPA, typically 3.0 or higher.
• Professional Experience: Relevant work experience in accounting or finance can strengthen the application.
• Additional Qualifications: Certifications like CPA, CFA, or other relevant qualifications can enhance eligibility.

Masters in Accounting in the USA vs. UK: A Comparative Analysis

Here is a comparison table demonstrating the differences between pursuing a Masters in Accounting in the USA and UK on various aspects.

Aspect	Masters in Accounting in the USA	Masters in Accounting in the UK
Program Duration	Typically 1 to 2 years	Usually 1 year, shorter duration
Curriculum	Emphasis on a broad range of accounting	Focused curriculum on accounting and finance
Specializations	Offers diverse specializations	Limited specializations, more generalist
Entry Requirements	Often requires GMAT/GRE scores	May not require standardized tests
Tuition Fees	Tuition fees can vary widely	Generally lower tuition fees
Scholarship Availability	Numerous scholarships and financial aid	Limited scholarships available
Work Opportunities	Robust job market with diverse options	Strong job prospects with international firms
Professional Exams	Preparatory for CPA, CMA, etc.	Preparatory for ACCA, CIMA, etc.
Duration of CPA Eligibility	Eligible to sit for the CPA exam	May require additional coursework for ACCA
Visa Regulations	F-1 student visa with Optional Practical Training (OPT)	Tier 4 student visa with post-study work options
Location	A wide range of universities across the country	Concentrated in major cities like London, Manchester
Cultural Experience	Offers a diverse cultural experience	Rich historical and cultural experience

Conclusion 

An MS in Accounting in the USA in 2025 is an excellent choice for those aiming for a career in accounting. It offers access to top-notch US universities, a variety of specializations, and promising career prospects. Students will gain valuable skills and networks, preparing them for a dynamic and fulfilling professional journey in various economic sectors. This degree is a stepping stone to success in the diverse and evolving field of accounting.

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