For many accountants, a Master of Business Administration is a smart way to advance their careers. An MBA in accounting could be just the advantage they need in a competitive job market. For others, an MBA in accounting is an opportunity to earn more money over the course of their careers.
Job Market for Accountants
According to the U.S. Bureau of Labor Statistics (BLS), jobs in accounting are “projected to grow 11 percent from 2014 to 2024, faster than the average for all occupations” — a promising outlook based on growing economies and increasing regulatory actions. Given the employment outlook for this career and the general requirement to hold a bachelor’s degree for the majority of accounting positions, many accountants see the MBA in accounting as the key to standing out in the crowd. As the BLS reports, “competition will be stronger for jobs with the most prestigious accounting and business firms,” and those with an MBA in accounting will have an advantage.
Opening New Doors
Outside of accounting, an MBA in accounting actually opens up new opportunities for those seeking employment in the financial sector. Payscale.com cites a number of positions for those with an MBA, including Chief Financial Officers, Financial Controllers and Finance Managers. Further, each of these professions offers generous compensation — most exceed $100,000 per year.
Easier Than Ever
While the rigor of MBA in accounting programs has not changed, many new options are making it easier for working accountants to further their education, and thus their careers. An online MBA program may be just the path for the working accountant. Flexible schedules, fast-track time-to-completion, and the ease of studying and attending classes at home have made the online MBA a viable option for many professionals. The internet not only connects these degree seekers to geographically distant schools, it also allows them to continue working while pursuing their advanced degrees. For many, that combination is just right for bettering a career and minimizing debt.
An MBA in accounting may be the right path for you. If you are thinking of enrolling in an online MBA program, it is wise to do your research first. The internet can bring not only the research to you but also the program itself. If you are a busy professional looking to advance your career, online options now make it easier than ever to pursue an MBA in accounting and gain the needed boost to put you in another income tax bracket.
Learn more about the UWF online MBA in Accounting program.
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