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Masters Degree in Accounting Salary

April 26, 2016 5:39 pm

If you earn a master’s degree in accounting (MAcc), then you will learn how to manage and record financial transactions, organize records, make sure taxation laws are complied with, balance budgets and more. While many people hold a bachelor’s degree, some study on towards the MAcc for a variety of personal and professional reasons. This has a great influence on their salary as well.

Starting Degree

If you want to obtain a master’s degree, you must hold a bachelor’s degree first. There are now some universities that offer an accelerated option, meaning that there are possibilities for you if you do not hold your bachelor’s yet. According to a salary survey completed by Georgetown University, the average salary for an accountant with a bachelor’s degree is $63,000 per year, around $3,000 higher than degrees in other disciplines. They also stated that the bottom 25% earned just $43,000, while the top 25% earned $95,000 per year.

Master’s Degree Salary

According to the same Georgetown University study, just 24% of those who hold a bachelor’s degree study on to obtain their master’s. At the same time, those who did complete the graduate degree reported a 37% increase in salary, bringing the average earning to $86,310 per year. The bottom 25% earned $58,910, and the top 25% earned $130,150. A lot of factors influence how much someone can earn with a master’s degree in accounting. Let’s take a look at each of these in a bit more detail.

Years of Experience

With less than one year experience, you can expect an annual salary of $50,061. With between one and four years experience, you can expect an annual salary of $56,476. With between five and nine years experience, you can expect an annual salary of $72,073. With between 10 and 19 years experience, you can expect an annual salary of $86,042. With over 20 years experience, you can expect an annual salary of $89,072.

Job Title

A staff accountant can expect to earn between $38,722 and $59,101. A senior accountant can expect to earn between $50,717 and $80,664. An accountant can expect to earn between $39,212 and $66,517. A Certified Public Accountant (CPA) earns between $44,129 and $78,343. A financial controller can earn between $57,196 and $112,771. An accounting manager can earn between $55,299 and $100,658. Finally, a financial analyst can expect to earn between $46,194 and $79,076.

Actual Employer

The list below highlights some of the salaries you can expect from some of the more popular employers:

  • Ernst & Young – between $50,042 and $98,594
  • KPMG, LLP – between $49,681 and $86,952
  • PricewaterhouseCoopers – between $52,075 and $103,302
  • Deloitte & Touche LLP – between $48,515 and $93,258
  • Deloitte – between $50,258 and $96,000
  • Grant Thornton Up – between $50,258 and $120,805
  • BDO Siedman, LLP – between $49,360 and $71,419
  • Bkd Llp – between $47,084 and $70,093
  • Eide Bailly, Llp – $46,584
  • Moss Adams LLP – $72,414
  • Deloitte Tax LLP – $60,000
  • Crowe, Chizek and Company LLP – $57,721
  • Elliott Davis, LLC – $51,325
  • Dixon Hughes, PLLC – $53,676
  • Cargill – $55,948
  • Bank of America Corp. (BOFA) – $96,990
  • McKesson Corp. – $97,436
  • Federal Express Corporation (FedEx) – $95,916
  • LBMC – $66,337
  • Kastle Systems – $80,000
  • Centene Corporation – $65,649
  • PepsiCo Inc – $68,300
  • The Walt Disney Company – $65,000
  • DaVita Inc. – $62,000
  • P. Morgan Chase & Co (JPMCC) – $70,000
  • RSM McGladrey Incorporated – $56,000
  • Walgreen Co. – $105,633
  • Cadence Design Systems Inc. – $59,339
  • Amtrust North Americe, Inc. – $45,363

Geographical Location

The city in which you work also has a tremendous influence on your earning potential with a master’s in accounting. In Chicago, IL, you can expect to earn $69,132 per year. In Atlanta, GA, it is slightly lower at $65,261 per year. It rises, however, if you were to move to New York, NY, where the average is $70,121. In Dallas, TX, the average is $72,249, and in Salt Like City, UT, it is $64,385. Meanwhile, accountants in St. Louis, MI can expect to earn $59,135 per year.

Certification

There are a lot of certifications that someone with an MAcc can obtain. Certain certifications can add a significant amount of money to an average salary. A Certified Public Account (CPA) can expect to earn $67,995. A Certified Internal Auditor (CIA) usually earns around $76,557 per year. A Certified Management Accountant (CMA) can earn around $71,821 per year, while a Certified Fraud Examiner (CFE) can earn around $77,348. A Notary Public has an average annual earning of $56,696, and a Certified Information Systems Audior (CISA) earns $90,638. Someone with a Certified Financial Analyst (CFA) certificate can expect earnings of $95,435. Meanwhile, someone without any type of additional certification usually earns just $54,988. Someone with a business certificate only earns slights less at $54,796, and an Enrolled Agent (AE) earns $57,849.

Gender

While the gender pay gap is closing in accounting, it has not fully closed yet. Women earn an average annual salary of $61,720. Men, by comparison, earn an average of $64,161.

The School Where You Graduated From

Certain schools, because of their excellent curriculum, faculty, or history of alumni, enable people to achieve higher earnings than those from other schools. Some of the country’s highest earning schools include:

  • Northern Illinois University – $68,500
  • University of Illinois at Urbana-Campaign – $63,348
  • University of Missouri Columbia – $67,005
  • University of Florida – $64,871
  • University of Phoenix – Phoenix, AZ – $46,000
  • University of Denver – $55,000
  • Florida Atlantic University – $63,282

As you can see, determining how much you will earn with a master’s in accounting is a complex question. There are simply too many factors that will influence your salary to some degree. What is known, however, is that you should have no difficulties in finding a job, and a well-paying one at that.

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