If you enjoy numbers, analytics, and understanding financial flows, a Master of Business Administration (MBA) with an accounting focus may be a perfect fit. But it’s normal to wonder – will the time and money invested in an advanced accounting degree really pay off down the road?
Based on up-to-date market research, hard evidence suggests that the advanced accounting skills acquired in an MBA accountancy translate directly into six-figure salaries and upper management opportunities right out of school. These MBA financial benefits then compound year after year over a career lifespan.
This blog provides an in-depth look into realistic MBA accountancy graduate salary expectations, job security, recession resiliency, and lifetime earnings that showcase why an MBA investment in accountancy pays dividends across your professional journey. Read on to get the real numbers and projections.
MBA Salaries: Impressive Earning Potential in Accounting
Completion of an MBA accountancy program qualifies graduates for upper-level finance and accounting positions that offer six-figure salaries. Based on recent job market analysis, starting salaries for MBA accounting grads range from $80,000 to $150,000.
With a few years of experience under your belt, you can expect to earn well into the six figures — accounting and finance MBA graduates with five years of experience have reported average salaries between $130,000 and $200,000. Quite an increase compared to the median salary of $77,250 for accountants and auditors with only a bachelor’s degree.
Financial Rewards Across Accounting Careers
The earning potential associated with an MBA in accounting spans a wide variety of accounting and finance occupations.
For example, as a Chief Financial Officer, you can pull in $200,000 or higher once you have advanced experience. Even a mid-level financial controller position typically pays $100,000. Other lucrative roles include Audit Manager ($115K average), Accounting Manager ($85K), Budget Director ($100K), and Treasurer ($150K).
The job outlook shows these accounting leadership roles will be in high demand over the next decade, according to the Bureau of Labor Statistics. The aging Baby Boomer population is expected to create substantial job openings for CPAs and other accountancy professionals.
Job Security and Recession Resiliency
Choosing the accounting field also provides good job security — accounting skills never go out of demand regardless of economic conditions. Both private corporations and government agencies depend on accounting and finance professionals to manage budgets, investments, payroll, taxes, and financial plans.
In fact, high-level accountants and CPAs typically experience minimal disruption, even during recessions. Their specialized skills and financial leadership remain crucial for organizational stability in turbulent times.
Step Into an Accounting Leadership Role
Beyond impressive accountancy career earnings, an MBA in accountancy is also an advanced qualification for management positions with increased authority over money matters.
An MBA gives graduates deeper knowledge of accounting information systems, tax strategy, data analytics, audit methodologies, and managerial finance. You’ll graduate ready to step into critical roles directing corporate or institutional budgets, investments, compliance initiatives, forensic accounting projects, and team supervision.
Specialized accounting MBAs also open doors to prestigious professional certifications like the CPA, CMA, CIA, and CFA. These exclusive designations signal high competency in your field and expand job possibilities further.
Financial Rewards Over a Lifetime
Not only does an MBA in accounting provide excellent earning potential upon graduation, but the high salaries also compound in a big way over one’s working years. With each promotion and pay raise, graduates can expect to earn over $1 million more in their lifetime than those with only a bachelor’s degree.
CPAs, in particular, continue increasing their salaries throughout their careers. A recent study found CPAs out-earned non-CPAs by nearly $1 million over their working life. The median CPA with at least 20 years of experience took home well over $150,000.
Conclusion
Clearly, the financial benefits of pursuing an advanced Master of Business Administration degree with an accounting focus pay dividends across your professional journey. The lucrative earning potential and job security make an MBA in accountancy one of the most profitable and recession-proof advanced degree choices you can make to invest in your future.
