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:

Masters in Accounting in UK: Tuition Fee

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

Cost of living 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:-

Masters in Accounting in UK: Placements

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:-

Masters in Accounting in UK: Return on Investment

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:

  1. Deloitte
  2. PWC
  3. Ernst and Young
  4. 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.