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Does an accounting student need a masters?

Accounting student at Towson university accounting

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Yvonne’s Answer

Hello Ayomide,


It depends. Many accounting students choose to major in Accounting with the intention of eventually becoming a CPA. Depending on your state's requirement, many states allow candidates to sit for the CPA exam with a Bachelor's degree with specific credits in accounting and business courses, but it usually requires 150 credit hours. Depending on your situation, some Accounting students would go for a Masters after they have a bachelor degree in order to meet the 150 credit hours requirement to sit for the CPA. Some would go for a double major while they are doing their undergraduate studies so they could meet the requirement without doing a Masters. There are a lot of options depending on your current academic situation and whether if you want to become a CPA in near future. I would recommend speaking to your academic advisor or an Accounting professor about this!

Yvonne recommends the following next steps:

Speak with your Academic Advisor/Accounting professors
Yvonne - Your answer is great. Thank you so much for sharing your expertise with Ayomide! At this moment there are more than 1k unanswered questions so I want to encourage you to keep going! So many students will benefit tremendously from hearing from you. Keep up the great work! Jordan Rivera, Admin COACH
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Beaus’s Answer

Hi Ayomide, That is a great question. Back in the days I used to wonder as well if a masters degree is mandatory for accounting students. However, in short the answer is NO, it is not mandatory to get a masters degree. After I graduated in Accounting, I joined public accounting firm. Here I am working as well as pursuing my CPA. Most accountants I have known choose to pursue CPA after their graduation. One of my friends, however, did a Master's in accounting after her graduation. So at the end of the day it is more of a choice and depends on the career path you want to chose.

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Michael’s Answer

Ayomide,


A masters in accounting is not necessary. I have friends that have a masters and some that don't. It's just up to what you are willing to do and where you want your career to go. People with masters tend to progress faster to managerial positions, but experience goes a long way as well.

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Kiana’s Answer

While an accounting student does not need a masters degree, it definitely is beneficial to get one. It can be especially helpful if you plan on taking the CPA exam, as you can begin studying for it in your 5th year of college before you start work full-time. This can relieve a lot of stress so that you won't have to study and work full-time simultaneously.
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Ryan’s Answer

Being an accountant does not require a masters degree. However, there maybe several other beneficial reasons to pursue your masters degree. As others have stated, you will need 150 credit hours in several states in order to be certified once you pass your exam. Using these credits towards a masters may make sense. Also, additional education will almost always prove to be beneficial on the job.
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Nicole’s Answer

Hi Ayomide,

To add to the answers above, there are some universities in which an accounting degree (with no masters degree and no need for a double major) will fulfill the accounting/business credits which are required for the CPA. This would be a good question to ask your accounting department or career counselor. Also note that required credits for a "semester" school is 150, while required equivalent credits for a school on the quarter system is 225.

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