Masters in Accounting in USA: Detailed Guide & Top Rated Universities in the USA
20 Jul 2024
Key Highlights on Masters in Accounting in USA
- Accounting is a highly-paid career in the USA.
- There will be an 11% growth in accounting jobs in the next 8 years.
- MS, MBA, MAcc, and Master of Professional Accounting are degree options.
- Program duration is 1.5 to 2 years for MS in Accounting USA.
- 146,000 job openings are expected in the next 5-10 years for MS in Accounting USA graduates.
- Freshers can expect starting salaries in the range of $60,000 - $80,000.
- 82% of international graduates secured employment within 6 months of graduation.
- Nationwide, $86,084 is paid on average which is believed to increase even more.
- 74% of employers place a value of international prestige on MS in Accounting USA.
- Graduates can work for up to 36 months after completion of a Masters in Accounting in USA.
- CPA, Auditor, Financial Analyst, and Tax Consultant are popular professions after studying MS in Accounting USA
- 7 out of the top 10 universities for studying MS in Accounting are located in the US.
- 71 universities ranked under 350 by QS WUR 2024 for Masters in Accounting in USA.
- After MS in Accounting USA, top employers include JP Morgan Chase, Wells Fargo, Bank of America, EY, PwC, Deloitte, Citi, KPMG, Morgan Stanley.
Why Study Masters in Accounting in USA?
According to the QS World University Rankings, the US has 71 best universities for accounting in 2024. Out of these, 16 are ranked in the top 50 universities globally! The opportunities are endless. Why choose to study masters in accounting in USA? Here are some compelling reasons:
Skill Development:
- Critical Thinking & Problem-Solving: Master's programs delve deeper into complex accounting issues, honing your ability to analyze problems, develop solutions, and make strategic decisions.
- Analytical Skills: You'll gain advanced analytical skills in financial modeling, data analysis, and financial reporting, crucial for success in today's data-driven business world.
- Communication Skills (Implicit): Many programs emphasize effective communication, equipping you to present financial information clearly and concisely to both technical and non-technical audiences.
Global Recognition & Growth:
- Versatile Program: Master's programs often integrate cutting-edge technology and global business practices, preparing you for a competitive international market.
- Strong Network: Studying in the USA allows you to build valuable connections with professors, peers, and industry professionals, expanding your network and career opportunities.
Return on Investment (ROI):
- High Earning Potential: Graduates typically command competitive salaries, offering a strong financial return on your investment in the program.
- Career Security: Accounting professionals are consistently in demand, providing a secure career path with growth potential.
Additional Benefits:
- Entrepreneurial Skills Development: Some programs foster entrepreneurial thinking and provide insights into starting your own accounting practice or financial consulting firm.
- Personal and Professional Development: Master's programs can also be a journey of personal and professional growth, expanding your knowledge, confidence, and ability to navigate complex business environments.
By pursuing a Masters in Accounting in USA, you'll gain the skills, credentials, and network needed to excel in a dynamic and rewarding accounting career.
Top Rated Universities in the USA & Best Colleges for Accounting
| Institution | QS World University Rankings 2024 | |
| 1 | Harvard University | 1 |
| 2 | Massachusetts Institute of Technology (MIT) | 2 |
| 3 | Stanford University | 3 |
| 4 | University of Chicago | 5 |
| 5 | University of Pennsylvania | 8 |
| 6 | University of California, Berkeley (UCB) | 9 |
| 7 | New York University (NYU) | 10 |
| 8 | Columbia University | 11 |
| 9 | Yale University | 12 |
| 10 | University of California, Los Angeles (UCLA) | 16 |
| 11 | Princeton University | 26 |
| 12 | Northwestern University | 29 |
| 13 | Cornell University | 30 |
| 14 | University of Michigan-Ann Arbor | 32 |
| 15 | University of Texas at Austin | 33 |
| 16 | Duke University | 38 |
| 17 | University of Illinois at Urbana-Champaign | 51 |
| 18 | University of Southern California | 53 |
| 19 | University of Washington | 67 |
| 20 | The Ohio State University | 73 |
| 21 | Boston University | 75 |
| 22 | Pennsylvania State University | 75 |
| 23 | University of North Carolina, Chapel Hill | 81 |
| 24 | Carnegie Mellon University | 88 |
Additionally, you can also consider these universities for pursuing masters in accounting in USA. These are best colleges for accounting ranked from 101-350:
| More Universities for MS in Accounting USA | |
| Arizona State University | University of California, Irvine |
| Boston College | University of Central Florida |
| Indiana University Bloomington | University of South Carolina |
| Johns Hopkins University | Virginia Polytechnic Institute and State University |
| Michigan State University | Brigham Young University |
| Texas A&M University | City University of New York |
| University of California, San Diego (UCSD) | Temple University |
| University of Florida | The University of Alabama |
| University of Maryland, College Park | University of Colorado Boulder |
| University of Minnesota Twin Cities | University of Houston |
| University of Wisconsin-Madison | University of Iowa |
| Washington University in St. Louis | University of Missouri, Columbia |
| Dartmouth College | University of Pittsburgh |
| George Washington University | University of Utah |
| Georgetown University | University of Notre Dame |
| Georgia Institute of Technology | University of Rochester |
| Purdue University | Florida International University |
| University of Illinois at Chicago (UIC) | Georgia State University |
| University of Texas Dallas | North Carolina State University |
| University of Virginia | Rutgers University–New Brunswick |
| Emory University | The University of Arizona |
| Florida State University | The University of Georgia |
| University of Massachusetts Amherst | University of California, Davis |
Masters in Accounting in USA
Here are some big catches when considering an MS in Accounting USA degree:
- An MS in Accounting USA is your gateway to the highest positions in the field of finance.
- After completing a Masters in Accounting in USA you are eligible to appear for the CPA exam. Hence there are options for professional growth and higher earning potential. On average, a CPA makes from $70,000 to $103,000 per year.
- Studying a Masters in Accounting in USA will teach you accounting principles, finance, taxation, and business analysis in depth.
- MS in Accounting USA is a financially stable career pathway.
- Top-rated universities in the USA provide exposure to the latest accounting software and technologies.
- Overall, a Masters in Accounting in USA is a rewarding career in the long term.
Studying Accounting in USA
Here’s all you need to know about studying Accounting in USA:
- Degree Options: MS, MBA, MAcc, and Master of Professional Accounting
- Cost of Annual Tuition: $5,612 - $84,874 (₹4.67 - ₹70.67 lakhs)
- Living expenses in the US: ₹20-25 lakhs per year
- Job Growth: 4% projected growth in accounting & auditing jobs (2022-2032)
- Top Employers: JP Morgan Chase, Wells Fargo, Bank of America, EY, PwC, Deloitte, Citi, KPMG, Morgan Stanley
- Average Salary: $79,000 (₹65.80 lakhs) per year
Requirements for Masters in Accounting in USA at Top-Rated Universities in the USA
| Program Length | 1.5 to 2 years | |
| Coursework Focused on | Accounting principles, auditing, taxation, and other areas of business | |
| Admission Terms | Fall and Spring semesters | |
| Tuition Fees | $5,612 to $84,874 (₹4.67 - ₹70.67 lakhs) per year. | |
| Top Universities | 24 Top Rated Universities for MS in Accounting USA | |
| GPA Requirement | 3.0 or above (equivalent to 85%) | |
| Standardized Test Scores (Optional) | GMAT score of 700 or equivalent, but it may not be required and can be waived off by many universities | |
| English Proficiency Requirements | TOEFL iBT | Minimum score of 80 |
| IELTS | Minimum Score of 6.5 | |
| Application Requirements |
| |
Fees for Masters in Accounting in USA
Cost of a Master's in Accounting in USA varies based on the university, program type (MS, MBA, MAcc, etc.), and location But here's a general breakdown:
- Tuition: Typically ranges from $5,612 to $84,874 USD per year. This is a wide range, with public universities generally being more affordable than private institutions.
- Additional Costs: Beyond tuition, consider expenses like:
- Books and supplies
- Living expenses (housing, food, transportation)
- Health insurance
- Personal expenses
Tips for Managing Costs:
- Scholarships and Financial Aid: Explore scholarship opportunities offered by the university, external organizations, and government agencies.
- Part-time Work: Consider part-time jobs on campus or in the local area to supplement your income.
- Living Arrangements: Opt for shared accommodations or affordable housing options to reduce living expenses.
Cost of Living while studying MS in Accounting USA
| Expense | Estimated Cost Per Month (USD) | Estimated Cost Per Year (USD) |
| Housing (shared apartment or dorm) | 500 - 1200 | 6,000 - 14,400 |
| Food (groceries, dining out) | 300 - 500 | 3,600 - 6,000 |
| Transportation (public transport, car) | 100 - 300 | 1,200 - 3,600 |
| Utilities (electricity, internet, phone) | 100 - 200 | 1,200 - 2,400 |
| Healthcare Insurance | 100 - 200 | 1,200 - 2,400 |
| Books and Supplies | 100 - 200 | 1,200 - 2,400 |
| Personal Expenses (entertainment, travel) | 200 - 500 | 2,400 - 6,000 |
| Total | 1,400 - 3,000 | 16,800 - 36,000 |
Scholarships for MS in Accounting USA
Want to study for a Masters in Accounting in USA but the tuition is not affordable? Here are some of the top rated universities in the USA that provide scholarships or financial-aid to their students:
| University | Scholarship Name | |
| 1 | Harvard University | Harvard Business School Fellowships |
| 2 | University of Pennsylvania (Wharton) | Wharton Fellowship Program |
| 3 | University of Chicago (Booth) | Chicago Booth Merit-Based Scholarships |
| 4 | New York University (Stern) | Stern MBA Scholarships |
| 5 | University of Southern California | USC Marshall Scholarships |
| 6 | University of Texas at Austin (McCombs) | McCombs School of Business Scholarships |
| 7 | University of Michigan (Ross) | Ross School of Business Scholarships |
| 8 | Massachusetts Institute of Technology | MIT Sloan School of Management Fellowships |
| 9 | Stanford University | Stanford Graduate School of Business Fellowships |
| 10 | Columbia University | Columbia Business School Fellowships |
| 11 | University of California, Berkeley | Haas School of Business Scholarships |
| 12 | Northwestern University (Kellogg) | Kellogg School of Management Scholarships |
| 13 | Duke University (Fuqua) | Fuqua School of Business Scholarships |
| 14 | Cornell University (Johnson) | Johnson Graduate School of Management Scholarships |
| 15 | Yale University | Yale School of Management Scholarships |
| 16 | University of North Carolina (Kenan-Flagler) | Kenan-Flagler Business School Scholarships |
| 17 | Indiana University (Kelley) | Kelley School of Business Scholarships |
| 18 | Carnegie Mellon University (Tepper) | Tepper School of Business Scholarships |
| 19 | University of Virginia (Darden) | Darden School of Business Scholarships |
| 20 | Georgetown University (McDonough) | McDonough School of Business Scholarships |
Universities for MS in Accounting USA without GRE
| University | Program | Additional Requirements |
| University of Illinois Urbana-Champaign | Master of Science in Accountancy (MSA) | Strong academic record, relevant work experience |
| University of Texas at Austin (McCombs) | Master in Professional Accounting (MPA) | Strong academic performance, relevant coursework |
| University of Southern California (USC) | Master of Accounting | Academic transcripts, letters of recommendation, personal statement |
| University of Notre Dame | Master of Science in Accountancy (MSA) | Academic excellence, letters of recommendation, personal statement |
| Boston College | Master of Science in Accounting (MSA) | Academic transcripts, letters of recommendation, personal statement |
| University of Miami | Master of Accounting (MAcc) | Academic transcripts, letters of recommendation, personal statement |
| University of Washington (Foster) | Master of Professional Accounting (MPAcc) | Academic excellence, relevant coursework |
| Villanova University | Master of Accounting with Data Analytics | Strong academic record, letters of recommendation, personal statement |
| Rutgers University | Master of Accountancy in Financial Accounting | Academic transcripts, relevant coursework |
| Loyola Marymount University | Master of Science in Accounting | Academic transcripts, letters of recommendation, personal statement |
| Pace University | Master of Science in Accounting | Academic transcripts, letters of recommendation, personal statement |
| Northeastern University | Master of Science in Accounting | Academic transcripts, letters of recommendation, personal statement |
| University of Connecticut | Master of Science in Accounting (MSA) | Academic transcripts, letters of recommendation, personal statement |
| Bentley University | Master of Science in Accounting | Academic transcripts, letters of recommendation, personal statement |
| American University (Kogod) | Master of Science in Accounting | Academic transcripts, letters of recommendation, personal statement |
Professions to pursue after MS in Accounting USA
| Profession | Description |
| Certified Public Accountant (CPA) | CPAs perform a wide range of accounting tasks, including auditing, tax preparation, and consulting services. Many accounting firms and corporations hire CPAs. |
| Auditor | Auditors examine financial records to ensure accuracy and compliance with laws and regulations. They can work internally within organizations or for external firms. |
| Tax Advisor/Consultant | Tax advisors help individuals and businesses optimize their tax liabilities and ensure compliance with tax laws. They provide strategic tax planning and advice. |
| Financial Analyst | Financial analysts evaluate financial data to help businesses make informed investment and financial decisions. They often work for banks, investment firms, or corporations. |
| Management Accountant | Also known as cost accountants, they focus on budgeting, performance evaluation, and cost management within organizations. They provide financial insights to managers. |
| Internal Auditor | Internal auditors review and improve an organization's internal controls, risk management, and governance processes. They work within various types of organizations. |
| Forensic Accountant | Forensic accountants investigate financial discrepancies and fraud. They often work with law enforcement agencies or in litigation support. |
| Corporate Accountant | Corporate accountants manage an organization's financial records, prepare financial statements, and ensure regulatory compliance. They work in-house for companies. |
| Controller | Controllers oversee the accounting operations of a company, including financial reporting, budgeting, and internal controls. They are key financial managers. |
| Chief Financial Officer (CFO) | CFOs are senior executives responsible for managing the financial actions of a company. They oversee financial planning, risk management, and financial reporting. |
| Financial Manager | Financial managers develop and maintain financial health for organizations. They create financial reports, direct investment activities, and develop strategies. |
| Budget Analyst | Budget analysts help organizations manage their finances by preparing budget reports and monitoring spending. They work in various sectors, including government. |
| Accounting Manager | Accounting managers oversee accounting staff and operations within a company. They ensure accurate financial reporting and compliance with laws and regulations. |
| Consultant | Accounting consultants provide expert advice on financial planning, reporting, and risk management to organizations and clients. |
| Risk Manager | Risk managers identify, assess, and mitigate financial risks for organizations. They develop strategies to minimize potential losses. |
Job Opportunities after MS in Accounting USA
| Job Title | Starting Salary (USD) | Starting Salary (INR) | Maximum Salary (USD) | Maximum Salary (INR) |
| Certified Public Accountant (CPA) | $60,000 - $75,000 | ₹4,920,000 - ₹6,150,000 | $150,000+ | ₹12,300,000+ |
| Auditor | $55,000 - $70,000 | ₹4,510,000 - ₹5,740,000 | $130,000+ | ₹10,660,000+ |
| Tax Advisor/Consultant | $55,000 - $70,000 | ₹4,510,000 - ₹5,740,000 | $120,000+ | ₹9,840,000+ |
| Financial Analyst | $60,000 - $75,000 | ₹4,920,000 - ₹6,150,000 | $140,000+ | ₹11,480,000+ |
| Management Accountant | $60,000 - $75,000 | ₹4,920,000 - ₹6,150,000 | $130,000+ | ₹10,660,000+ |
| Internal Auditor | $55,000 - $70,000 | ₹4,510,000 - ₹5,740,000 | $120,000+ | ₹9,840,000+ |
| Forensic Accountant | $65,000 - $80,000 | ₹5,330,000 - ₹6,560,000 | $140,000+ | ₹11,480,000+ |
| Corporate Accountant | $55,000 - $70,000 | ₹4,510,000 - ₹5,740,000 | $120,000+ | ₹9,840,000+ |
| Controller | $80,000 - $100,000 | ₹6,560,000 - ₹8,200,000 | $170,000+ | ₹13,940,000+ |
| Chief Financial Officer (CFO) | $120,000 - $150,000 | ₹9,840,000 - ₹12,300,000 | $350,000+ | ₹28,700,000+ |
| Financial Manager | $80,000 - $100,000 | ₹6,560,000 - ₹8,200,000 | $160,000+ | ₹13,120,000+ |
| Budget Analyst | $55,000 - $70,000 | ₹4,510,000 - ₹5,740,000 | $110,000+ | ₹9,020,000+ |
| Accounting Manager | $70,000 - $85,000 | ₹5,740,000 - ₹6,970,000 | $140,000+ | ₹11,480,000+ |
| Consultant | $65,000 - $80,000 | ₹5,330,000 - ₹6,560,000 | $150,000+ | ₹12,300,000+ |
| Risk Manager | $70,000 - $85,000 | ₹5,740,000 - ₹6,970,000 | $140,000+ | ₹11,480,000+ |
Study in USA with D-Vivid Consultant
We hope you were able to gain in-depth insight into the Masters in Accounting in USA. For your study in USA,
For those who have an interest in accounting, masters in accounting is a new and exciting field. Study abroad programs in field of accounts can be found in the United States of America, which also offers excellent professional chances. At D-Vivid Consultant we understand your dream and help you reach your dream university. We believe in informed decisions, expert mentorship and accurate results. We will guide you through the entire admission process, providing you with all required materials and expert solutions. So what are you waiting for? Connect with us and we will help you achieve all your academic goals and make your dreams of studying in USA a reality and easy process.
For further questions or personalized guidance for your study in USA, please don’t hesitate to reach out at 75750 20920. D-Vivid is here to help you with each step of your study abroad journey, from preparing for IELTS, TOEFL, PTE, and GRE, to writing an SoP and LoR, to submitting your university and visa applications.
Important Resources
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Frequently Asked Questions
What are the top rated universities in the USA for a Master's in Accounting?
- Some of the top universities include the University of Texas at Austin, the University of Pennsylvania, and the University of Chicago.
What is the typical duration of a Master's in Accounting in USA?
Most programs take about 1 to 2 years to complete, depending on the university and whether the student is attending full-time or part-time.
What are the admission requirements for a Master's in Accounting in USA?
Common requirements include a bachelor's degree, GMAT/GRE scores, letters of recommendation, a personal statement, and relevant work experience.
How much does it cost to pursue a Master's in Accounting in USA?
Tuition fees can range from $20,000 to $60,000 annually, depending on the university and the program.
Are there scholarships available for international students?
Yes. Many universities offer scholarships, grants, and assistantships to help international students fund their studies.
What are the career prospects after completing a Masters in Accounting in USA?
Graduates can pursue careers as auditors, tax advisors, financial analysts, and accountants in public accounting firms, corporations, and government agencies.
Do I need a background in accounting to apply for a Master's in Accounting?
While a background in accounting or a related field is preferred, some programs offer prerequisite courses for students without an accounting background.
What is the average salary for someone with a Masters in Accounting in USA?
The average salary ranges from $60,000 to $90,000 per year, depending on the role, location, and level of experience.
Can I work while studying for my Masters in Accounting in USA?
Yes, many students work part-time on-campus or through internships, but international students must adhere to visa regulations regarding work hours.
What are the benefits of pursuing a Masters in Accounting in USA?
Benefits include access to top-tier education, networking opportunities, exposure to diverse industries, and enhanced career prospects.
What standardized tests are required for admission to a Master's in Accounting program?
Most programs require GMAT or GRE scores, although some may waive this requirement based on work experience or undergraduate performance.
What is the difference between a Master of Accounting (MAcc) and a Master of Science in Accounting (MSA)?
While both degrees focus on accounting, MAcc programs often emphasize practical skills for accounting practice, while MSA programs may have a stronger emphasis on research and theory.
Is a CPA license necessary after completing a Master's in Accounting?
While not mandatory, obtaining a CPA license can significantly enhance career opportunities and earning potential.
How can I prepare for the CPA exam while studying for my Master's in Accounting?
Many programs offer CPA exam preparation as part of the curriculum or provide resources and support for students planning to take the exam.
What are the internship opportunities for Master's in Accounting students in the USA?
Universities often have partnerships with accounting firms, corporations, and government agencies that offer internships to students.
What kind of networking opportunities are available for Master's in Accounting students?
Students can join professional accounting associations, attend industry conferences, and participate in university-sponsored networking events.
How do US universities support international students in a Master's in Accounting program?
Support services include academic advising, career counseling, visa and immigration assistance, and cultural integration programs.
What is the application process for international students?
The process typically involves submitting an online application, transcripts, standardized test scores, letters of recommendation, a resume, and a personal statement.
Can I apply for a Master's in Accounting program without work experience?
Yes, while work experience is beneficial, many programs accept students directly from undergraduate studies.
What are the key factors to consider when choosing a Master's in Accounting program in the USA?
Consider factors such as the program’s reputation, faculty expertise, curriculum, cost, location, and available support services for international students.