Masters in Accounting in USA is a 1-2 year postgraduate degree program which not just prepares individuals for an engaging profession in the field of professional accounting, but also equips them for taking the CPA (Certified Public Accountant) test. It is offered under various degree titles such as an MBA in Accounting, a Master in Professional Accounting, MS in Accounting, and Master of Accounting (MAcc).
For admission to the top universities for Masters in Accounting in USA, interested candidates must possess a 4-year Bachelor’s degree in accounting or equivalent with at least a 3.0 out of 4.0 GPA (83-86%) from a recognized university. Furthermore, international candidates must submit English proficiency scores with at least 6.5 to 7.5 overall score in IELTS or 80 to 100 overall score in TOEFL iBT.
The average annual cost of studying for a Masters in Accounting in USA falls between USD 41,250 to USD 84,900 which is equivalent to INR 34 Lakhs to INR 70.1 Lakhs. In return, candidates can expect an impressive salary slab of USD 56,500 to USD 148,300 (INR 46.6 Lakhs to INR 1.22 Crore).
Check Out: Jobs in USA for International Students
Masters in Accounting in USA: Highlights
| Courses Available | MS in Accounting | MBA in Accounting | Master in Professional Accounting | MS in Accounting and Fundamental Analysis |
| Course Type | Full-time | Part-time |
| Program Duration | 1-2 Years |
| Degree Requirement | 4-year Bachelor’s degree in Accounting or equivalent from a recognized university |
| GPA | 3.0 out of 4.0 (83-86%) |
| English Proficiency Requirements | IELTS: 6.5 to 7.5 overall score | TOEFL iBT: 80 to 100 overall score |
| Annual Tuition Fees | USD 41,250 to USD 84,900 (INR 34 Lakhs to INR 70.1 Lakhs) |
| Annual Salary Range | USD 56,500 to USD 148,300 (INR 46.6 Lakhs to INR 1.22 Crore) |
Top universities for Masters in Accounting in USA
The following table contains the tuition costs and application information of the top universities offering Masters in Accounting in USA:
| University | Program | Application Deadlines | Tuition Fee per year (USD) |
|---|---|---|---|
| University of Michigan | MS in Accounting | 1 May 2023 | 55,900 |
| New York University | MS in Accounting | 15 Nov 2022 (Closed) | 60,500 |
| University of Texas at Dallas | MS in Accounting | 1 May 2023 | 58,000 |
| Boston College | MS in Accounting | 30 May 2023 | 60,350 |
| Ohio State University, Fisher School of Business | Master of Accounting | 17 March 2023 | 59,500 |
| Michigan State University | MS in Accounting | Round1: 15 Jan 2023 (Closed) | Round2: 1 March 2023 (Closed) | Spring intake: 1 Oct 2023 | 59,800 |
| University of Dallas | MS in Accounting | 1 April 2023 | 41,250 |
| University of Pennsylvania | MBA in Accounting | 29 March 2023 | 84,900 |
| Pennsylvania State University Great Valley | Master in Professional Accounting | 31 May 2023 | 56,300 |
| Columbia Business School | MS in Accounting and Fundamental Analysis | January 24, 2022 (applications closed) | 51,600 |
Why study Masters in Accounting in USA?
USA is the largest economy in the world and so most of the biggest companies are headquartered here. This makes employability a favourable factor for international students in USA. Here are some of the major reasons to pursue a Masters in Accounting in USA:-
- As per QS Rankings 2023, 3 universities offering Masters in Accounting in USA are ranked among the top 15 universities for Accounting and Finance.
- After the completion of Masters in Accounting in USA , candidates can earn a graduate annual salary of up to USD 148,300 or INR 1.22 Crore.
- A majority of universities in USA do not demand GMAT or GRE scores for the MS in Accounting intakes.
- Top accounting firms termed as ‘Big Four’: Ernst &Young, Deloitte, PwC, and KPMG are headquartered in the US. These firms provide an entry-level package of 85,000 USD to accounting postgraduates.
- As of February 2023, USA has an unemployment rate of only 3.6%, which suggests that there are numerous job prospects available for recent graduates of Masters in Accounting in USA.
Masters in Accounting in USA: Subjects and Specialisations
Masters in Accounting in USA is available in the following degree programs:-
- MS in Accounting
- MBA in Accounting
- Master in Professional Accounting
- MS in Accounting and Fundamental Analysis
Although the degree programs may differ in name and duration they still involve the study of some common subjects, such as:-
- Financial Reporting
- Cost Management
- Auditing
- International Accounting
- Advanced Financial Accounting
- Managerial Finance
- Enterprise Database Systems
Admissions to Masters in Accounting in USA
The applications for Masters in Accounting in USA proceed in several rounds. Therefore, aspirants, especially international applicants, are advised to keep a track of the application rounds and then plan their admission to a selected institution. Furthermore, candidates who submit a GPA of at least 3.0 out of 4.0, usually, get a GMAT/GRE waiver from the university.
Masters in Accounting in USA: Eligibility Criteria
In order to get admission into Masters in Accounting in USA, candidates must fulfil the following entry requirements:-
- 4-year Bachelor’s degree in Accounting or equivalent with at least 3.0 out of 4.0 GPA from a recognized university
- Relevant prior professional experience
- 2 academic and 1 professional Letter of Recommendation (LOR)
- A 500-750 word Statement of Purpose (SoP)
- Official transcript or certified copies of transcripts
- Updated Resume or CV
- Portfolio
- Personal Interview
- A valid passport
- US Student Visa
- Proof of English Proficiency:-
- IELTS: 6.5 to 7 overall score
- TOEFL iBT: 80 to 100 overall score
Also Read: US Student Visa
Masters in Accounting in USA: Admission Requirements
The admission requirements for applying in a Masters in Accounting in USA are provided in the following table:-
| University | Bachelor’s Degree Requirements | English Language Requirements |
|---|---|---|
| University of Michigan | Bachelor’s degree in Accounting or equivalent with at least 3.2 out of 4.0 GPA from a recognized university with relevant experience | IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100 |
| New York University | 4-year Bachelor’s degree in Accounting or equivalent with at least 3.0 out of 4.0 GPA from a recognized university | IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100 |
| University of Texas at Dallas | Bachelor’s degree from a recognized university with at least 3.0 out of 4.0 GPA | TOEFL: 80 |
| Boston College | Bachelor’s degree from a recognized university with an average of 3.6 out of 4.0 GPA | IELTS: 7.5 (with at least 7 in each band) | TOEFL: 100 |
| Ohio State University, Fisher School of Business | Bachelor’s degree from a recognized university | IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100 (at least 24 in each section) |
| Michigan State University | Bachelor’s degree in Accounting or equivalent with at least 3.0 out of 4.0 GPA from a recognized university | IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100 |
| University of Dallas | Bachelor’s degree from a recognized university | IELTS: 6.5 (with at least 6 in each band) | TOEFL: 80 |
| Pennsylvania State University Great Valley | 4-year Bachelor’s degree in Accounting or equivalent with at least 3.0 out of 4.0 GPA from a recognized university | IELTS: 6.5 (with at least 6 in each band) | TOEFL: 80 |
| Columbia Business School | Bachelor’s degree in Accounting or equivalent from a recognized university | IELTS: 7.5 (with at least 7 in each band) |
Masters in Accounting in USA: Costs
The entire cost of pursuing Masters in Accounting in USA is the summation of smaller individual costs such as the tuition fees and living expenses. The following sections elaborate on these individual costs in a tabulated manner:-
Masters in Accounting in USA: Tuition Fee
The cost of pursuing an MS in Accounting in USA falls anywhere between USD 41,250 and USD 84,900, which is equivalent to INR 34 Lakhs and INR 70.1 Lakhs. For further information, refer to the following table containing the university-specific tuition fees:-
| University | Tuition Fee per year (USD) | Tuition Fee per year (INR) |
|---|---|---|
| University of Dallas | 41,250 | 34 Lakhs |
| Columbia Business School | 51,600 | 42.6 Lakhs |
| University of Michigan | 55,900 | 46.2 Lakhs |
| Pennsylvania State University Great Valley | 56,300 | 46.5 Lakhs |
| The University of Texas at Dallas | 58,000 | 47.9 Lakhs |
| Ohio State University, Fisher School of Business | 59,500 | 49.1 Lakhs |
| Michigan State University | 59,800 | 49.3 Lakhs |
| Boston College | 60,350 | 49.8 Lakhs |
| New York University Stern | 60,500 | 49.9 Lakhs |
| University of Pennsylvania | 84,900 | 70.1 Lakhs |
Cost of Living in USA
USA is the most popular as well as the costliest study abroad destination for Masters in Accounting in USA as well as other programs. This corresponds to the quality of education, safety, ambiance, and health services the country offers. The following table shows the average expense and the cost of living in USA for international students:
| Expense Type | Average Annual Expense (USD) | Cost for Indian Students (INR) |
|---|---|---|
| Accommodation | 9,658 | 7,94,211 |
| Meals | 5,424 | 4,46,034 |
| Transportation | 1,200 | 98,680 |
| Health Insurance | 500 | 41,116 |
| Personal Expenses | 2000 | 1,64,460 |
| Total | 18,782 | 15,44,509 |
Masters in Accounting in USA: Scholarships
WIth a high cost of living and similar tuition expenses, it is imperative for international candidates to watch out for scholarship programs and grants, in order to make ends meet. Therefore, here are some of the popular finding options for international candidates studying MS in Accounting in USA:-
| Scholarship | University | Eligibility | Award |
|---|---|---|---|
| Academic Excellence Fellowship | University of Pennsylvania | Candidates studying MBA with high GPA | USD 10,000 |
| AICPA Foundation Scholarship | American Institute of Certified Public Accountants | Candidates studying Master’s in Accounting in USA | USD 3,000 to 10,000 |
| Satish and Yasmin Gupta College of Business Graduate Scholarship | University of Dallas | Candidates studying MBA or MS program | USD 1,000 per credit hour |
| Rotary International Ambassadorial Scholarships | US Government | Citizen of a country with Rotary clubs | 2 years of college course work or equivalent | Up to 25,000 USD |
| Fulbright Scholarships for Indians | US Government | Indian citizen | Academic excellence | English proficiency | Monthly stipend, Tuition and cost of attendance coverage |
| Inlaks Scholarship | US Government | Indian citizen | Minimum 65-75% marks | 100,000 USD |
| AAUW International Fellowship | US Government | Non US-based women pursuing master’s and doctoral programs in USA | 20,000-50,000 USD |
| JN Tata Endowment Fund (loan) | US Government | Indian citizens | Bachelor’s degree | Minimum 60% marks | INR 1 Lakh -10 Lakhs |
Masters in Accounting in USA: Placements
After pursuing Masters in Accounting in USA , candidates are free to start their Accounting career and earn an annual salary ranging from USD 56,500 to USD 148,300, equivalent to INR 46.6 Lakhs to INR 1.22 Crore. Here are some of the popular job profiles available after completing MS in Accounting in USA:
| Job Profile | Annual Salary (USD) | Equivalent Salary (INR) |
|---|---|---|
| Staff Accountant | 56,500 | 46.6 Lakhs |
| Accountant | 59,800 | 49.3 Lakhs |
| Senior Accountant | 75,700 | 62.5 Lakhs |
| Senior Financial Analyst | 82,500 | 68.1 Lakhs |
| Accounting Manager | 86,200 | 71.1 Lakhs |
| Financial Controller | 95,500 | 78.8 Lakhs |
| Chief Financial Officer (CFO) | 148,300 | 1.22 Crore |
Explore: Post-Study Work Visa in USA
Masters in Accounting in USA: Return on Investment
As the demand for MS in Accounting graduates in USA is strictly increasing, the program offers a great return on investment. On average, each university offers the following annual graduate payout:-
| University | Tuition Fee per year (USD) | Graduate Salary (USD) |
|---|---|---|
| New York University Stern | 60,500 | 134,000 |
| The University of Texas at Dallas | 58,000 | 78,000 |
| Ohio State University, Fisher School of Business | 59,500 | 113,000 |
| Michigan State University | 59,800 | 75,000 |
| University of Dallas | 41,250 | 73,000 |
| University of Pennsylvania | 84,900 | 91,000 |
| Pennsylvania State University Great Valley | 56,300 | 107,000 |
| Columbia Business School | 51,600 | 155,000 |
Masters in Accounting in USA vs MS in Accounting in UK
The following table compares Masters in Accounting in USA with Masters in Accounting in UK on the basis of GPA, tuition costs, graduate salary, etc.
| Particulars | Masters in Accounting in USA | Masters in Accounting in UK |
|---|---|---|
| Degree Requirement | 4-year Bachelor’s degree in Accounting or equivalent from a recognized university | 2:1 or 2:2 Bachelor’s honours degree in Accounting, Business, Finance or a related stream from a recognized university |
| GPA | 3.0 out of 4.0 (83-86%) | 3.2 out of 4.0 GPA or 8 out of 10 GPA for Indian students |
| Duration | 1-2 Years | 9 Months to 2 Years |
| ELP Score | IELTS: 6.5 to 7.5 overall score | TOEFL iBT: 80 to 100 overall score | IELTS: 6 to 7 overall score | TOEFL iBT: 88 to 107 overall score |
| Monthly Cost of Living | 2,448 USD (2 lakhs INR) | 1,120 GBP (1.11 lakhs INR) |
| Annual Tuition Fees | USD 41,250 to USD 84,900 (INR 34 Lakhs to INR 70.1 Lakhs) | GBP 16,000 to GBP 42,200 (16- 42 Lakhs INR) |
| Graduate Salary | USD 56,500 to USD 148,300 (INR 46.6 Lakhs to INR 1.22 Crore) | GBP 32,000 to GBP 69,500 (INR 31.6 - 68.5 Lakhs) |
Masters in Accounting in USA is a beneficial program to pursue after completing a Bachelor's in Accounting or an Accountancy-related stream. It guarantees high-paying job options to worthy candidates such as Financial Analysts, Financial Managers, auditors, Senior Accountant, etc.
FAQs
Ques. Is it hard to pursue a Masters in Accounting in USA?
Ans. Masters in Accounting in USA is considered a graduate program with a tough curriculum that includes the study of tax laws, business laws, financial planning, business strategy and planning, etc.
Ques. How much does a Masters in Accounting in USA cost?
Ans. On average, Masters in Accounting in USA costs from USD 41,250 to USD 84,900 which is equivalent to INR 34 Lakhs to INR 70.1 Lakhs.
Ques. What are the top institutions for studying Masters in Accounting in USA?
Ans. Some of the top universities offering Masters in Accounting in USA are:-
- University of Pennsylvania
- University of Dallas
- New York University Stern
- Michigan State University
Ques. What are the requirements for studying Masters in Accounting in USA?
Ans. In order to apply for an MS in Accounting program in USA, candidates must have completed a 4-year Bachelor’s degree in Accounting or equivalent with at least a 3.0 out of 4.0 GPA from a recognized university. Furthermore, an IELTS score of 6.5 to 7.5 or TOEFL iBT overall score of 80 to 100 is acceptable.
Ques: Can I do a Masters in Accounting in USA without GMAT?
Ans: It is dependent on the specific requirements of the Masters in Accounting program you are interested in. While some universities may require GMAT score of 500+ as part of the admissions process, others may not.
Ques. What after MS in Accounting in USA?
Ans. The completion of an MS in Accounting in USA allows an individual to start working in the Finance and Accounting industry and earn an annual salary ranging from USD 56,500 to USD 148,300 (INR 46.6 Lakhs to INR 1.22 Crore).
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