There is currently a high demand for qualified accountants and CPAs in the U.S. Earning a Master of Accountancy (MAcc) degree can open the door to a wide range of high-level career opportunities in the financial sector.
The online MAcc – General program from Southern Illinois University Carbondale (SIU Carbondale) offers a straightforward pathway to success for those interested in the accounting field. Graduates leave the program prepared for the demands of the job, with the necessary knowledge to sit for the CPA Exam. As an online, affordable program, this course of study also gives flexibility to a variety of students.
Roles in Accounting Firms
A degree in accounting offers many potential career opportunities, such as becoming a managerial accountant, corporate controller, chief financial officer (CFO) or personal finance advisor. The U.S. Bureau of Labor Statistics (BLS) has collated statistics on opportunities and remuneration for those working as accountants and auditors. The current median pay in this field is $79,880 per year per year, with an estimated 1,562,000 jobs tallied in 2023 and a growth rate of 6% until 2033, which is faster than the average of all occupations. This is exciting news for those studying to become CPAs and auditors, since jobs will likely continue opening up in this field.
BLS offers further insights for high-level roles like financial managers. While there are fewer roles for financial managers, the growth rate is even higher at 17%. The median income is also significantly higher, at $156,100 per year. Financial managers typically work for banks and investment firms but can also be found in other companies. They are expected to work full-time and occasionally more than 40 hours a week, making this a demanding but rewarding job.
For those looking to work privately with clients rather than for companies and perhaps at a more reasonable pace, the role of personal financial advisor may be interesting. BLS cites a similar growth rate in this small but burgeoning field as more people seek professional guidance with managing and growing their assets.
What Happens After the CPA Exam?
Passing the CPA exam is one thing, but you should also know the job responsibilities that follow the exam. This answer depends on which specific role you take on within a company or as a privately operating accountant or personal financial advisor.
As Investopedia explains, a management accountant is a higher-level role that usually takes on more responsibility and oversight, as well as supervising lower-level accountants who handle basic tasks. Though management accountants need hard accounting skills, according to Investopedia, “The most fundamental skills you need to be successful as a management accountant are an aptitude for and interest in numbers, math, business and production processes, and helping to manage a business.”
A corporate controller is another accounting role with a similar purview. Corporate controllers ensure that all aspects of a company’s accounting are done ethically and accurately. According to Indeed, “Corporate controllers work with financial documentation, tax preparation, internal audits, budgets and financial plans,” but they also deal with risk management. This field can be attractive to those looking for a wide scope of financial, managerial and accounting responsibilities at work.
An Advanced Online Accountancy Degree From SIU Carbondale
The point of an advanced degree like an MAcc is to prepare graduates for roles where they analyze financial data to guide business decisions or oversee accounting operations and financial reporting. An MAcc can pave the way for graduates to help individuals and families manage investments, tax planning and long-term financial goals, since advising personal finances is also a career option after this degree.
Though students can study accountancy in Bachelor of Arts (B.A.) courses, higher education degrees like an MAcc stand out from the competition in the job hunt. SIU Carbondale’s online General MAcc program is a proven way to attain a solid foundation for career advancement in both corporate and consulting roles.
Learn more about SIU Carbondale’s online Master of Accountancy – General program.