Masters(MS) in Accounting in USA: Top Universities, Rankings, Fees, Eligibility & More

About MS in Accounting in the USA

Master’s in Accounting (MSA) is a popular higher education program in the USA. You’ll find different degree variations, specializations, and program features that ensure every student interested in this program finds a program that fits their needs best.  

Many universities offer comparable programs under degree titles such as:

• Master of Accountancy (MAcc)
• Master of Science in Accounting (MS)
• Master of Arts in Accounting (MA)
• Master of Professional Accountancy (MPAcc)
• Master of Business Administration in Accounting (MBA)

Many MSA programs in the USA allow you to specialize in specific areas, such as:

• Financial Accounting
• Auditing
• Forensic Accounting
• International Accounting
• Taxation
• Accounting Information Systems
• Government Accounting

Some universities also offer dual degree options, like the MSA/MBA or MSA/JD. Additionally, most of these programs have a STEM designation. This is beneficial for international students seeking longer work permits.

You’ll also find programs focused on preparing you for the Certified Public Accountant (CPA) CPA exam. Some students prefer online MS in Accounting programs for flexibility. There are accelerated MSA programs available too, for faster completion of your degree. 

Top universities in the USA for MS in Accounting

Most universities in the USA that offer finance courses also provide a Master’s in Accounting program. This means you have hundreds of programs to choose from. Naturally, the choice can be overwhelming.

Program rankings offer a simple way to organize your options. So, to get you started, here are the top universities in the USA USA universities as per their global QS rankings under the category of MS in Accounting programs:

However, while rankings provide a useful starting point, a lot more goes into the decision of choosing the right university for your higher education. You should also consider factors like placement records (the types of jobs graduates get), whether the program is STEM-designated (which can impact your visa options), and many other criteria.

To simplify your decision-making process, we’ve built SelectRight. This AI-powered tool matches your academic details, career aspirations, and program preferences with thousands of accounting programs to create a shortlist of your best options the best options for you. You can then compare these programs and choose the top few you’ll apply to.

By using SelectRight, you can be confident that you’re choosing a program that offers a high return on investment (ROI) for your education.

Course curriculum for MS in Accounting in the USA

The Master of Science in Accounting (MSA) curriculum in the USA focuses on accounting principles and their practical applications. The courses are structured into core subjects, electives, and project work, with other components like internships and Certified Public Accountant (CPA)CPA exam preparation.

The core curriculum covers topics such as:

• Advanced Financial Accounting
• Advanced Auditing
• Financial Statement Analysis
• Business Law for Accountants
• Accounting Ethics
• Taxation
• Accounting Information Systems
• Data Analytics for Accountants

To tailor your MSA to your career goals, you can choose from various specializations such as:

• Financial Accounting/Auditing
• Managerial Accounting
• Business Analytics
• Taxation
• Forensic Accounting
• Government and Nonprofit Accounting

You can further broaden your knowledge by selecting elective courses. Common options include:

• International Accounting
• Valuation and Financial Modeling
• Mergers and Acquisitions
• Risk Management
• Corporate Governance
• Sustainability Accounting

In addition to coursework, many programs include other components. Here is an overview:. 

• Many programs encourage or require internships to provide practical experience.
• Some programs include CPA exam review courses or materials.
• These projects often involve real-world consulting projects or research.
• There is a growing emphasis on data analytics skills across various specializations.
• Programs often include courses focused on enhancing communication skills for accountants.

Eligibility for Studying MS in Accounting in the USA

A Master’s in Accounting requires a strong background in the subject. So, universities evaluate applicants based on their past education and academic caliber. Many other factors also play a crucial role. To be eligible, you’ll need to satisfy the following criteria: . 

1. Students need to have completed a four-year bachelor’s degree in accounting, commerce, or a related field.
2. Students need to show a strong academic record, with a recommended GPA of 3.0 or above on a 4.0 scale (equivalent to about 85%).
3. Proof of English language proficiency, through TOEFL iBT (80+) or IELTS (6.5+) scores is also required. 
4. GMAT or GRE scores may have to be submitted (though waivers are often offered by many universities). A GMAT score of around 700 is recommended for top-ranked Master’s in Accounting programs in the USA.
5. Students may also be expected to show proof of relevant work experience (not mandatory, but can enhance your application).
6. Students need to submit official academic transcripts from the last institution they attended.
7. Two to three letters of recommendation are required. 
8. A well-crafted statement of purpose (500-800 words) needs to be submitted. 
9. An updated resume or CV detailing your academic and professional experiences
10. A valid passport and F1 visa is required. 
11. Students also need to show proof of financial support to cover tuition fees and living expenses

Remember that these are general requirements. Specific criteria vary among universities and programs, so it’s best to check official university websites.

GMAT/GRE requirements for studying MS in Accounting in the USA

Here are some key points about GMAT/GRE requirements put in place by most of the top universities:

1. Many universities offer GMAT/GRE waivers or make these tests optional for MS in Accounting applicants.
2. Some programs still recommend or require GMAT/GRE scores.
3. For top programs, a GMAT score of around 700 is recommended.
4. International applicants are often encouraged to submit GMAT/GRE scores even if not strictly required.
5. Some schools waive the requirement for applicants with high GPAs.

Note: GMAT/GRE policies vary between universities, so applicants should carefully review the requirements for each program they are interested in.

Here are some specific examples of GMAT/GRE requirements at well-known universities:

1. New York University (NYU) Stern School of Business: Applicants must submit GMAT or GRE scores. NYU Stern has no minimum score requirement. However, you can request a waiver if you have a four-year bachelor’s degree from a USAU.S.-accredited institution with a cumulative GPA of 3.00 or higher in specific majors (e.g., Accounting, Finance, Business). 
2. University of Texas at Austin, McCombs School of Business: Applicants are required to submit GMAT or GRE scores. No minimum score is specified, but the average GMAT score for the traditional MPA class is 668. 
3. University of Pittsburgh: GMAT/GRE scores are not required if you have an undergraduate GPA of 3.25 or higher and a B average in quantitative coursework.
4. Purdue University: A GMAT score is not required for their MS Accounting program.

So, you can apply for a Master’s in Accounting in the USA without a GMAT or GRE score. However, we recommend you submit your scores because they can enhance your application.

Scholarships for MS in Accounting in the USA

Scholarships for Master’s in Accounting in the USA are a common way for students to fund their education. A lot of the top-rated universities offer research assistantships to students, which include scholarships. Others provide direct scholarships that students can apply for. These scholarships can range from full tuition coverage to partial coverage of 10% to 40% of fees.

Several universities offer scholarships specifically for their MS in Accounting programs, such as:

• Bentley University: Offers the Master’s in Accounting Fellowship program with full scholarships for the MSA degree.
• W. P. Carey School of Business at Arizona State University: Provides merit-based scholarships and programs like the W. P. Carey Deloitte Foundation Accounting Scholars Program and KPMG MADA Scholars program.
• University of Iowa Tippie College of Business: Offers financial support to over 90% of MAc students.
• North Carolina State University: Considers all applicants for merit-based scholarships and graduate assistantship positions with tuition waivers and stipends.
• Ohio State University Fisher College of Business: Offers merit-based scholarships and graduate assistantships with tuition waivers and stipends.

Note: Apart from tuition fees, there are many other expenses associated with higher education in the USA. So, most students need an education loan. However, when you search for an education loan, you are likely to be overwhelmed with confusing information. Moreover, managing multiple loan applications with no clarity on whether you are getting the best interest rate can be stressful. That’s why we created FundRight. 

FundRight allows you to register for free. Within two days, you can get loan offers from over 15 banks and NBFCs in India and abroad. Next, compare them to choose the best loan for you. So, register today to find out how much you can save. 

Career scope of MS in Accounting in the USA

After completing a Master’s in Accounting program, you can pursue various career paths. Some common roles include:

• Senior Accountant
• Controller
• Partner
• Chief Financial Officer (CFO)
• Financial Analyst
• Personal Financial Advisor

Many of these positions offer six-figure incomes. Even at the entry-level, you can expect a median salary of $79,000. This is considerably higher than the $65,200 median for those with a bachelor’s degree. 

With experience, you can move into higher-level roles like financial controllers, tax managers, and accounting managers. Median salaries for these roles range from $95,000 to $240,100. 

The skills and knowledge you acquire through an MS in Accounting are in demand across various industries, such as:

• Accounting and Professional Services
• Technology
• Investment Banking and Finance
• Corporate Finance
• Government and Public Sector
• Consulting
• Fintech

Top recruiters for MS in Accounting in the USA

Here are some prominent recruiters that hire from the best Master’s in Accounting in USA programs in the USA. 

Big Four Accounting Firms:

• Deloitte
• PricewaterhouseCoopers (PwC)
• Ernst & Young (EY)
• KPMG

Large Technology Companies:

• Google
• Apple
• Amazon
• IBM
• Salesforce

Financial Institutions:

• Bank of America
• Goldman Sachs

Other Notable Companies:

• LinkedIn
• Merck & Co.

Government Institutions:

• United States Department of Defense
• US Customs and Border Protection

Job prospects and salaries after MS in Accounting in the USA

The job outlook for accountants and auditors in the USA is stable. It has a growth rate of 4% (which is as fast as the average for all occupations). The median annual salary for accountants and auditors in 2023 was $79,880, or $38.41 per hour.

Here is a table showing different roles and their starting annual salaries:

These are average figures. The actual salary you earn will also depend on the chosen university, location, previous work experience, and the company you work for

FAQs

1. How long does it take to complete a Master’s in Accounting in the USA?

Most full-time Master’s in Accounting programs take 9-12 months for completion. However, some programs require more coursework, which extends the duration to up to two years. If you choose a part-time or online format, the completion time will depend on your chosen course load and other commitments.

2.Is work experience required for admission to an MS in Accounting in the USA?

Most MS in Accounting programs don’t require prior work experience. However, some programs might prefer or even require it. An example of such a program is the Master of Accounting Science (MAS) program at the University of Illinois.

3.Can I work part-time while studying for my MS in Accounting in the USA?

Yes, you can. As an international student on an F-1 visa, you’re allowed to work part-time on campus (up to 20 hours per week) during the academic year. 

4.What are the common specializations within MS in Accounting programs?

Specializations in MS in Accounting let you tailor your degree to your interests and career goals. Some popular options include:

• Taxation
• Assurance and Auditing
• Forensic Accounting
• Financial Reporting and Analysis
• Managerial Accounting
• Accounting Information Systems
• International Accounting
• Government Accounting

5.Is an MS in Accounting in the USA STEM-designated?

Yes, many MS in Accounting programs are now STEM-designated. This is great news for international students, as it means you can apply for a 24-month extension to your Optional Practical Training (OPT) after graduation. However, not all programs qualify, so check if your chosen program has the STEM designation.