US grad school app tips from Jon Frank -P7--TEST SCORES VS. ESSAY–WHICH IS MORE

xixi_sissi

Thanks for sharing~

JonFrank

When push comes to shove, the goal of every Accounting master’s program is to better prepare you for your career in Accounting and for your CPA. But a Master of Professional Accounting (MPACC) is a slightly different animal than other popular Accounting degree programs. Doing an MPACC will give you a broader skill set once you’re out of the program and in the real, exciting world of work. You’ll be able to take on a wider range of careers because you’ll have effectively studied more than just accounting.

The demand for skilled accountants is strong and as a result companies offer attractive staring salaries that can exceed six figures. There are also strong opportunities for accountants to advance to upper management or CEO of a corporation. If you prefer to be your own boss, you can start your own accounting firm and provide accounting services for businesses or individuals.

Masters in Accounting Educational Prerequisites

Typically an undergraduate degree in accounting is not required but if your degree was outside of business there may be prerequisites that may need to be completed before starting. Prerequisite coursework may include basic accounting, pre-calculus, and statistics. A satisfactory score on the GRE or GMAT is usually required for admission as well as some prior work experience. Schools may also require a satisfactory grade point average in undergraduate

And if that’s not a good enough reason to pursue an MPACC, here’s a breakdown of what makes it a great choice for you.

Career Outlook for Accounting Graduates

Accounting offers an exceptional outlook with projections of much faster job growth than other professions over the next decade according to the Bureau of Labor Statistics. The BLS projects that employment for accountants and auditors will grow 22 percent from 2008 to 2018 with about 279,400 new jobs during this period. Compliance with increased financial regulation is one factor driving demand for skilled accounting professionals.

You’ll be well prepared for Accounting…or Finance!

MPACC is different from other Accounting programs because it includes an even balance of accounting AND business classes to give students an alternative option if they decide they want to branch out. Some students choose to do their MPACC rather than their MBA because it takes less time and is less demanding, but prepares you for some similar job options.

It’s not a very long degree program.

You can complete your MPACC in just 2 semesters (full-time), sometimes three, depending on how the school spreads out credit hours. That means less time without income, which can make a huge difference in many people’s plans! Plus, compared to many other degree programs, that’s no time at all.

You can study at great schools like these, the top MPACC programs:

US News ranked the following schools as having the top 10 accounting graduate programs in the country based on factors such as recruiter assessment, mean starting salary, employment rates, and student selectivity.

1. University of Texas-Austin (McCombs)

2. University of Pennsylvania (Wharton)

3. University of Chicago (Booth)

4. University of Illinois – Urbana

5. University of Michigan – Ann Arbor (Ross)

6. Stanford University

7. Brigham Young (Marriott)

8. University of Southern California (Marshall)

9. New York University (Stern)

10. University of North Carolina-Chapel Hill (Kenan-Flagler)

Salary bump!!!

In addition to helping you earn your CPA, an MPACC can lead to a salary boost of anywhere from $5-10K. The average MPACC salary WITH a CPA is $58,500!

MASTER’S IN ACCOUNTING GRADUATE SALARY

According to the U.S. Bureau of Labor Statistics, the median salary of accountants and auditors is about $59,430 per year and the top 10 percent of accountants earn over than $100,000 per year.

Accounting Salary Comparison Chart

Accounting Career	Median Annual Salary*
Financial Reporting Accountant II	$61,286
Cost Accountant II	$57,527
Revenue Management Accountant	$92,372
Forensic Accountants	$61,390
Tax Accountant II	$58,907

Sources:  U.S. Bureau of Labor Statistics wage data published March 27, 2012; Accountants and Auditors; Salary.com;Financial Reporting Accountant II; Cost Accountant II; Revenue Accounting Manager; Tax Accountant II.

The cost of the program isn’t terrible.

Depending on the cost per credit hour, the total program cost (including tuition and fees) can range from $20-$30K. That’s relatively low compared to other degree programs out there, and you’ll earn that back quickly when you’ve gotten a job.

Great post-grad job opportunities.

MPACCs go on to work for the big four in accounting: PWC, Deloitte, E&Y, and KPMG.

You’ll get a good amount of attention in your program.

MPACC programs accept between 50-80 students depending on the size of the school or program. Usually schools that offer all the popular accounting degrees accept less, while schools that ONLY offer the MPACC accept a larger class. So in general, you’ll get more face time with your professors, meaning a more enriching academic experience and better opportunities at networking for post-grad school jobs!

-Jon Frank

JonFrank

Hoping this helps!