Accounting

If you’ve been researching mba degrees to increase your career prospects, then you’ll be happy to know that there’s never been a better time to get an accounting mba.  The job security in this field is extremely high, and salaries are expected to go up more and more as the years pass.  Why?  Well, keep reading to find out…

Why Get An Accounting MBA?

Although most people think that getting an mba in professional accountancy is dry and boring, it doesn’t have to be.  It’s all in how you look at it.

First of all, you have to like numbers if you want to succeed in this mba program.  Yes, we’re pointing out the obvious here, but you might be surprised at how many people begin their accounting mba and drop out because they didn’t realize just how much math was involved.  So, if you have a hard time balancing your checkbook, an accounting mba program might not be for you.

If you do like numbers, then look at your accounting mba this way: you’re helping people, and businesses, manage their money.

Think about that for a moment.  With an mba in accounting you could be a watchdog over companies that are shady with their books.  Remember Enron?  You would have the chance to stop abuses like that from happening to ordinary folks.

Many accountancy mba graduates go on to oversee the books of large corporations.  You could help save ordinary people millions of dollars by keeping a sharp eye on their employers.  By overseeing the books, you’re helping prevent fraud and theft by unscrupulous managers and CEOs.

When you look at accounting that way, it can be an incredibly rewarding career.

Professional Accounting MBA: What You’ll Learn

Any accounting mba degree program is going to teach you the financial aspect of the business.  But, the good programs are going to go further by teaching you how to interact with executives and lower-level employees in a corporation.  You’ll also learn strategies for working with clients if you decide to open up a private firm.

Some of the classes you might expect to take in an mba in professional accounting program include:

  • Marketing and Brand Management
  • Budget Planning and Control
  • Building Relationships
  • Operations and Process Management
  • Financial Management
  • Leading Teams
  • Financial Decision-Making
  • Negotiating for Results
  • Corporate Taxation
  • Human Behavior in Organizations

Most people are surprised when they start their accounting mba program that every class isn’t about the numbers.  Accounting very much revolves around people, so you’ll spend a great deal of your time learning how to lead, manage, and communicate effectively with others.

Accounting MBA Scholarships

There are some scholarships that apply specifically to accounting.  You might want to explore these options:

  • Daniel B. Goldberg Scholarship – This is a scholarship of $10,000 that goes to any graduate student that is enrolled in a full-time program to prepare for a career in state or local government finance.

These are just two options to consider.  Are there more accounting scholarships out there?  Certainly.  With the average cost of an mba at $30,000, you’ll definitely want to do some research on programs that will help you pay for this investment.

Careers With An MBA in Accountancy

There’s no doubt you can earn a great living with an accountancy mba.  The Bureau of Labor Statistics reports that financial managers earn, on average, $78,000 to $148,000 or more per year.  Salary.com reports that the average earnings of an accountant falls between $94,000 and $139,900.

Plus, according to an article published in The New York Times, there is a serious shortage of accounting students.  This spells bad news for every business out there.  With more and more businesses being created, and fewer CPA’s entering the work world, the talent shortage will soon be severe.

If you’re interested in getting your mba in accounting, however, this is very good news for you.  Why?  Because it means that you’ll be in extremely high demand, which means you’ll make a higher salary than what’s being reported by the Bureau of Labor Statistics and Salary.com.  When there is high demand for a limited amount of goods, the price always goes up, right?

If you’re interested in getting your mba in accounting, there’s never been a better time to get started.  If you keep in mind that accounting is, at heart, about helping people, you might find that you like it better than you ever thought.  Yes you’ve got to crunch numbers, but you’re also really making a difference in people’s lives.

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