Masters in Accounting in UK is a 1 year postgraduate degree offering expertise in the field of Accounting, predominantly mixed with a touch of Financial Studies. The minimum admission requirement for Masters in Accounting in UK is to have a Bachelor’s honours degree in Accounting, Business, Finance, or a related stream from a recognized university with at least 60% aggregate or a 3.2 out of 4.0 GPA. International applicants are also required to have an IELTS score of 6 or a TOEFL equivalent score of 88 to demonstrate English language proficiency.
The average cost of pursuing Masters in Accounting in UK at the top universities in UK varies from 16,000 GBP to 42,200GBP (16- 42 Lakhs INR). Additionally, Masters in Accounting in UK caters to high-paying jobs with an average annual salary ranging from 32,000 GBP to 69,500 GBP or INR 31.6 Lakhs to INR 68.5 Lakhs.
Masters in Accounting in UK: Course Highlights
| Courses Available | MSc in Accounting | MSc in Finance and Accounting |
| Course Type | Full-time | Part-time |
| Program Duration | 9 Months to 2 Years |
| Degree Requirement | 2:1 or 2:2 Bachelor’s honours degree in Accounting, Business, Finance or a related stream from a recognized university |
| GPA | 3.2 out of 4.0 GPA or 8 out of 10 GPA for Indian students |
| English Proficiency Requirements | IELTS: 6 to 7 overall score | TOEFL iBT: 88 to 107 overall score |
| Annual Tuition Fees | 16,000 GBP to 42,200GBP (16- 42 Lakhs INR) |
| Annual Salary Range | 32,000 GBP to 69,500 GBP (31.6- 68.5 Lakhs INR) |
Masters in Accounting in UK: Top Universities
There are many universities offering Masters in Accounting in UK to international students, out of which following are some of the top universities offering Masters in Accounting in UK:
| University | Program | Duration of the Program | Application Deadlines | Tuition Fee per year (GBP) |
|---|---|---|---|---|
| Imperial College London | MSc Finance and Accounting | 1 Year | 31 March 2023 | 42,200 |
| University of Manchester (Alliance Manchester Business School) | MSc in Accounting | MSc Accounting and Finance | 1 Year | 1 June 2023 | 33,500 |
| London School of Economics and Political Science | MSc Accounting and Finance | MSc Accounting, Organisations, and Institutions | MSc Law and Accounting | 9 Months | Rolling Basis | 34,100 |
| University of Edinburgh | MSc Accounting and Finance | 1 Year | 7 June 2023 | 37,200 |
| University of Northampton | MSc Accounting and Finance | 1 Year | 3 July 2023 | 16,500 |
| Warwick Business School | MSc Accounting and Finance | 1 Year | 2 Aug 2023 | 38,000 |
| University of Bristol | MSc Accounting, Finance, and Management | 1 Year | 31 July 2023 | 31,100 |
| University of Birmingham | MSc Accounting and Finance | 1 Year | 1 July 2023 | 28,890 |
| Lancaster University | MSc Accounting and Financial Management | 1 Year | Sept 2023 | 26,500 |
| Cardiff University | MSc Accounting and Finance | 1 Year | 30 June 2023(Late application) | 26,700 |
| Cardiff Metropolitan University | MSc Accounting and Finance | 1 Year | 17 May 2023 | 16,000 |
| Aston University | MSc Accounting and Finance | 1 year | 1 July 2023 | 22,750 |
| Bayes Business School | MSc International Accounting and Finance | 1 Year | Aug 2023 | 31,700 |
| Cranfield School of Management | MSc Accounting and Finance | 1 Year | 3 July 2023 | 30,900 |
Why study Masters in Accounting in UK?
Masters in Accounting in UK is available as a Master of Science (MSc) program in the majority of the universities in UK. Here are some major reasons to select Masters in Accounting in UK:
- As per the QS Rankings 2023, 5 universities offering Masters in Accounting in UK ranked among the top 100 institutions for Accounting.
- UK is home to the 'big four' accounting and professional services firms: Deloitte, Ernst & Young (EY), KPMG, and PricewaterhouseCoopers (PwC), who are the top employers for the graduates of Masters in Accounting in UK
- The average annual salary after completing the postgraduate degree of Masters in Accounting in UK ranges from 32,000 GBP to 69,500 GBP (31.6 to 68.5 Lakh INR).
- In some UK universities Master of Accounting gets completed within a year. Hence, it is time-saving.
Explore: A student guide to UK
Masters in Accounting in UK: Admissions
Admissions to Masters in Accounting in UK are conducted twice a year with the applications being invited through the official university websites as well as the UCAS online portal. The deadlines for international applicants generally close a month prior to UK applicants’ deadlines. Hence, international aspirants are advised to apply as early as possible.
Masters in Accounting in UK: Eligibility Criteria
The overall eligibility criteria followed by a majority of universities that offer Masters in Accounting in UK is pointed out as follows:-
- Academic Degree- 2:1 or 2:2 Bachelor’s honours degree in Accounting, Business, Finance or a related stream from a recognized university.
- GPA Requirement- At least 60% aggregate, 3.2 out of 4.0 GPA or 8 out of 10 GPA for Indian students.
- GMAT Score- Most of the universities do not require a GMAT score but it gives an advantage to have a GMAT score of 650 or above.
- Letter of Recommendation (LOR)- At least 2 academic and 1 professional Letter of Reference (LOR).
- Statement of Purpose (SOP)- A 500-word Statement of Purpose (SOP) is required.
- Resume/CV- An updated Resume or Curriculum Vitae showcasing your work experience and educational qualifications.
- Proof of English Proficiency- IELTS: 6 to 7 overall score, TOEFL iBT: 88 to 100 overall score
- Additional Documents Required- Valid Passport, UK Student Visa, Official or certified copies of transcripts
Masters in Accounting in UK: Admission Requirements
The following are the specific admission requirements set by the top universities offering admissions to the postgraduate degree of Masters in Accounting in UK:-
| University | Bachelor’s Degree Requirements | GMAT Score | English Language Requirements |
|---|---|---|---|
| Imperial College London | 2:1 honours degree or equivalent from a recognized university | 650 | IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100 (at least 22 in each section) |
| University of Manchester (Alliance Manchester Business School) | First or upper second class honours degree from a recognized university with at least 60% aggregate | Not Required | IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100 (at least 22 in each section) |
| London School of Economics and Political Science | 2:1 honours degree in Accounting and Finance or equivalent from a recognized university | 650 | IELTS: 7 (with at least 6.5 in each band) | TOEFL: 107 |
| University of Edinburgh | 2:1 honours degree in Accounting and Finance or equivalent with 3.2 out of 4.0 GPA or 60% aggregate from a recognized university | Not Required | IELTS: 7 (with at least 6 in each band) | TOEFL: 100 (at least 20 in each section) |
| University of Northampton | First or upper second class honours degree from a recognized university | Not Required | IELTS: 6.5 (with at least 6 in each band) |
| Warwick Business School | 2:1 honours degree in Accounting and Finance or equivalent from a recognized university | 700 | IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100 (at least 22 in each section) |
| University of Birmingham | A three-year Bachelor's degree (first class) from recognised institution with at least 50-60% or higher for 2:1 equivalency | Not Required | IELTS: 6.5 (with at least 6 in each band) | TOEFL: 88 (at least 21 in each section) |
| Lancaster University | 2:1 honours degree in Accounting, Business, Finance or equivalent from a recognized university | Not Required | IELTS: 6.5 (with at least 6 in each band) |
| Cardiff University | 2:1 honours degree in Accounting, Business, Finance or equivalent with 3.0 out of 4.0 or 60% aggregate from a recognized university | Not Required | IELTS: 6.5 (with at least 6 in each band) |
| Cardiff Metropolitan University | 2:2 honours degree in Accounting and Finance or equivalent from a recognized university with 5 years of relevant experience or more | Not Required | IELTS: 6.5 (with at least 6 in each band) |
| Aston university | 2:2 honours degree in Accounting and Finance or equivalent from a recognized university with relevant work experience | Not Required | IELTS: 6 (with at least 5.5 in each band) |
| University of Bristol | Upper second class honours degree in Accounting, Business, Finance or a related stream from a recognized university with at least 60% aggregate | Not Required | IELTS: 6.5 (with at least 6 in each band) | TOEFL: 88 (at least 20 in each section) |
| Bayes Business School | Upper second class honours degree from a recognized university | 600 | IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100 (at least 25 in each section) |
| Cranfield School of Management | Bachelor’s degree from a recognized university | 600 | IELTS: 6.5 (with at least 5.5 in each band) | TOEFL: 92 (at least 17 in each section) |
Masters in Accounting in UK: Cost of Study
The total costs for pursuing a graduate degree program at a study-abroad destination included the entire tuition fees and the cost of living in those nations. Furthermore, in order to make the ends meet, one can also look for funding options. The following subsections thoroughly explain the entire cost of pursuing Masters in Accounting in UK:-
Masters in Accounting in UK: Tuition Fee
Taking place in a lavish country, the cost of studying Masters in Accounting in UK is also highly expensive. The average annual tuition costs range from GBP 16,000 to GBP 42,200, equivalent to INR 16.3 Lakhs to INR 41.6 Lakhs. The following table shows the university-specific cost for studying Masters in Accounting in UK:
| University | Tuition Fee per year (GBP) | Tuition Fee per year (INR) |
|---|---|---|
| Imperial College London | 42,200 | 41.6 Lakhs |
| University of Manchester (Alliance Manchester Business School) | 33,500 | 33 Lakhs |
| London School of Economics and Political Science | 34,100 | 33.6 Lakhs |
| University of Edinburgh | 37,200 | 36.7 Lakhs |
| University of Northampton | 16,500 | 16.3 Lakhs |
| Warwick Business School | 38,000 | 37.5 Lakhs |
| University of Bristol | 31,100 | 30.7 Lakhs |
| University of Birmingham | 28,900 | 28.5 Lakhs |
| Lancaster University | 26,500 | 26.1 Lakhs |
| Cardiff University | 26,700 | 26.3 Lakhs |
| Cardiff Metropolitan University | 16,000 | 15.8 Lakhs |
| Aston university | 22,750 | 22.4 Lakhs |
| Bayes Business School | 31,700 | 31.3 Lakhs |
| Cranfield School of Management | 30,900 | 30.5 Lakhs |
Explore: Student Accomodation in UK
Cost of living in UK
Students have to deal with high annual tuition fees along with a high cost of living. London is considered the costliest part of the United Kingdom. Moreover, the cost of living in UK is roughly 1.75 times that of India. The estimated yearly expenditure and cost of living in UK for an international student is around 14,000 GBP (14 lakh INR). The following table suggests the regular expenses a student makes while residing in UK:
| Expense Type | Average Annual Expense (GBP) | Cost for Indian Students (INR) |
|---|---|---|
| Accommodation | 7,200 | 7.20 Lakh |
| Meals | 2,400 | 2.40 Lakh |
| Transportation | 780 | 78 Thousand |
| Utilities | 2,220 | 2.22 Lakh |
| Personal Expenses | 1,500 | 1.50 Lakh |
Explore: Financing Tips for Students who Wish to Study in UK
Masters in Accounting in UK: Scholarship
Candidates who find the cost of living and tuition fees far away from affordable, may look forward to fee waivers and scholarships in UK offered by universities and different identities. The following are some of the popular funding options available to Masters in Accounting students in UK:
| Scholarship | University | Eligibility | Award |
|---|---|---|---|
| Commonwealth Masters Scholarship | UK Goverment | Resident of commonwealth countries, Official transcripts, at least 2 references | Full tuition fee coverage, Stipend of 1,236 GBP per month |
| Alumni Discount | University of Bristol | Candidates pursuing a degree program again in the University of Bristol | 25% fee discount |
| Bristol Master’s Scholarship | University of Bristol | Individuals pursuing MA, MSc, or MRes | GBP 2,000 |
| Manchester Master’s Bursary | University of Manchester | Individuals pursuing MA, MEd, MSc, MRes, etc. | GBP 4,000 per year |
| LSE Master’s Award | London School of Economics and Political Science | Candidates pursuing a Master’s degree program with academic excellence | Up to GBP 5,000 |
| Lancaster Master’s Scholarship | Lancaster University | Candidates pursuing a Master’s degree program with academic excellence | GBP 5,000 |
Masters in Accounting in UK: Placements
Masters in Accounting in UK offers a plethora of job opportunities to choose from and earn an average annual payout ranging from 32,000 GBP to 69,500 GBP
(31.6- 68.5 Lakhs INR). Some of the popular job profiles are mentioned in the following table:-
| Job Profile | Annual Salary (GBP) | Equivalent Salary (INR) |
|---|---|---|
| Accountant | 32,200 | 31.7 Lakhs |
| Senior Auditor | 40,800 | 40.2 Lakhs |
| Management Accountant | 37,700 | 37.2 Lakhs |
| Financial Controller | 56,700 | 55.9 Lakhs |
| Finance Manager | 44,400 | 43.8 Lakhs |
| Chartered Accountant | 32,000 | 31.6 Lakhs |
| Finance Director | 69,500 | 68.5 Lakhs |
Explore: Jobs in UK for International Students
Masters in Accounting in UK: Return on Investment
Masters in Accounting in UK offers an appreciable return on the high-amount investment made by students on the tuition costs. The university-specific average salaries are estimated and tabulated as follows:-
| University | Tuition Fee per year (GBP) | Graduate Salary (GBP) |
|---|---|---|
| University of Manchester (Alliance Manchester Business School) | 33,500 | 34,000 |
| London School of Economics and Political Science | 34,100 | 41,000 |
| University of Bristol | 31,100 | 38,000 |
| University of Birmingham | 28,900 | 34,000 |
| Lancaster University | 26,500 | 31,000 |
| Cardiff University | 26,700 | 31,000 |
| Aston university | 22,750 | 32,000 |
| Cranfield School of Management | 30,900 | 42,000 |
Masters in Accounting in UK: Degree Comparison
A comparison between the Masters in Accounting in UK and in Australia is represented by the following table:-
| Particulars | Masters in Accounting in UK | Masters in Accounting in Australia |
|---|---|---|
| Degree Requirement | 2:1 or 2:2 Bachelor’s honours degree in Accounting, Business, Finance or a related stream from a recognized university | Undergraduate degree in any discipline from a recognized university |
| GPA | 3.2 out of 4.0 GPA or 8 out of 10 GPA for Indian students | 3.0 out of 4.0 GPA |
| Duration | 9 Months to 1 Year | 1 to 2 Years |
| ELP Score | IELTS: 6 to 7 overall score | TOEFL iBT: 88 to 107 overall score | IELTS: 6.5 to 7 overall score | TOEFL iBT: 79 to 100 overall score |
| Annual Tuition Fee | 16,000 GBP- 42,200 GBP (16- 42 Lakhs INR) | 33,000 AUD- 50,000 AUD (17.9- 27 Lakhs INR) |
| Graduate Salary | 32,000 GBP- 69,500 GBP (31.6- 68.5 Lakhs INR ) | AUD 69,000 ( 37.4 Lakhs INR) |
Masters in Accounting in UK can be pursued by individuals who have a taste in making a name in the commerce stream with high educational qualifications. The potential recruiters of the accounting graduates in the UK include the Big Four accounting firms Price water Coopers, Deloitte, EY and KPMG and the top tier banks including JPMorgan, Goldman Sachs, Citi, Morgan Stanley, Bank of America Merrill Lynch. After completing the program, candidates can start working as Auditors, Finance Managers, Chartered Accountants, or Finance Directors and earn an average annual salary of 32,000 GBP to 69,500 GBP (31.6- 68.5 Lakhs INR).
Explore: UK Visa Requirements
FAQs
Ques1. What are the benefits of studying Master of Accounting in UK?
Ans. Master of Accounting in UK offers extensive knowledge and professional experience to candidates. After the completion, individuals may work in a bank, insurance company, or any other financial institution.
Que2. What are the major fields of Masters in Accounting in UK?
Ans. Masters in Accounting in UK is divided into 3 major fields: Managerial Accounting, Cost Accounting, and Financial Accounting.
Ques3. What are the top recruiters of Masters in Accounting graduates in UK?
Ans. Some of the major recruiters of individuals after Masters in Accounting in UK are:
- Deloitte
- PWC
- Ernst and Young
- KPMG
Ques4. How long is a Master of Accounting in UK?
Ans. The duration of a Master of Accounting in UK varies from university to university. It generally lasts for 1-2 years. However, the shortest duration of a Master of Accounting in UK is 9 months.
Ques5. How much does Masters in Accounting in UK cost?
Ans. The average cost of pursuing a Master of Accounting program in UK varies from 16,000 GBP to 42,200 GBP equivalent to INR 16- 42 Lakhs INR.
Ques6. What are the admission requirements for Masters in Accounting in UK for international students?
Ans. The minimum admission requirement for Masters in Accounting in UK for an international student is to have a Bachelor’s honours degree in Accounting, Business, Finance, or a related stream from a recognized university with at least 60% aggregate or a 3.2 out of 4.0 GPA, an IELTS score of 6 to 7 or a TOEFL iBT score of 88 to 107 is required.
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