Masters in Accounting in USA is a 1-2 year postgraduate degree program which not just prepares individuals for an engaging profession in the field of professional accounting, but also equips them for taking the CPA (Certified Public Accountant) test. It is offered under various degree titles such as an MBA in Accounting, a Master in Professional Accounting, MS in Accounting, and Master of Accounting (MAcc).

For admission to the top universities for Masters in Accounting in USA, interested candidates must possess a 4-year Bachelor’s degree in accounting or equivalent with at least a 3.0 out of 4.0 GPA (83-86%) from a recognized university. Furthermore, international candidates must submit English proficiency scores with at least 6.5 to 7.5 overall score in IELTS or 80 to 100 overall score in TOEFL iBT.

The average annual cost of studying for a Masters in Accounting in USA falls between USD 41,250 to USD 84,900 which is equivalent to INR 34 Lakhs to INR 70.1 Lakhs. In return, candidates can expect an impressive salary slab of USD 56,500 to USD 148,300 (INR 46.6 Lakhs to INR 1.22 Crore).
Check Out: Jobs in USA for International Students

Masters in Accounting in USA: Highlights

Courses Available MS in Accounting | MBA in Accounting | Master in Professional Accounting | MS in Accounting and Fundamental Analysis
Course Type Full-time | Part-time
Program Duration 1-2 Years
Degree Requirement 4-year Bachelor’s degree in Accounting or equivalent from a recognized university
GPA 3.0 out of 4.0 (83-86%)
English Proficiency Requirements IELTS: 6.5 to 7.5 overall score | TOEFL iBT: 80 to 100 overall score
Annual Tuition Fees USD 41,250 to USD 84,900 (INR 34 Lakhs to INR 70.1 Lakhs)
Annual Salary Range USD 56,500 to USD 148,300 (INR 46.6 Lakhs to INR 1.22 Crore)

Table of Contents

  1. Masters in Accounting in USA Top Universities
  2. Why study Masters in Accounting in USA?
  3. Masters in Accounting in USA: Subjects and Specialisations
  4. Masters in Accounting in USA: Admissions
    3.1 Eligibility Criteria
    3.2 Admission Requirement
  5. Masters in Accounting in USA: Cost of Studying
    4.1 Tuition Fee
    4.2 Cost of Living in USA
  6. Masters in Accounting in USA: Scholarships
  7. Masters in Accounting in USA: Placements
  8. Masters in Accounting in USA: ROI
  9. Masters in Accounting in USA: Degree Comparison
  10. FAQs

Top universities for Masters in Accounting in USA

The following table contains the tuition costs and application information of the top universities offering Masters in Accounting in USA:

University Program Application Deadlines Tuition Fee per year (USD)
University of Michigan MS in Accounting 1 May 2023 55,900
New York University MS in Accounting 15 Nov 2022 (Closed) 60,500
University of Texas at Dallas MS in Accounting 1 May 2023 58,000
Boston College MS in Accounting 30 May 2023 60,350
Ohio State University, Fisher School of Business Master of Accounting 17 March 2023 59,500
Michigan State University MS in Accounting Round1: 15 Jan 2023 (Closed) | Round2: 1 March 2023 (Closed) | Spring intake: 1 Oct 2023 59,800
University of Dallas MS in Accounting 1 April 2023 41,250
University of Pennsylvania MBA in Accounting 29 March 2023 84,900
Pennsylvania State University Great Valley Master in Professional Accounting 31 May 2023 56,300
Columbia Business School MS in Accounting and Fundamental Analysis January 24, 2022 (applications closed) 51,600

Why study Masters in Accounting in USA?

USA is the largest economy in the world and so most of the biggest companies are headquartered here. This makes employability a favourable factor for international students in USA. Here are some of the major reasons to pursue a Masters in Accounting in USA:-

  • As per QS Rankings 2023, 3 universities offering Masters in Accounting in USA are ranked among the top 15 universities for Accounting and Finance.
  • After the completion of Masters in Accounting in USA , candidates can earn a graduate annual salary of up to USD 148,300 or INR 1.22 Crore.
  • A majority of universities in USA do not demand GMAT or GRE scores for the MS in Accounting intakes.
  • Top accounting firms termed as ‘Big Four’: Ernst &Young, Deloitte, PwC, and KPMG are headquartered in the US. These firms provide an entry-level package of 85,000 USD to accounting postgraduates.
  • As of February 2023, USA has an unemployment rate of only 3.6%, which suggests that there are numerous job prospects available for recent graduates of Masters in Accounting in USA.

Masters in Accounting in USA: Subjects and Specialisations

Masters in Accounting in USA is available in the following degree programs:-

  1. MS in Accounting
  2. MBA in Accounting
  3. Master in Professional Accounting
  4. MS in Accounting and Fundamental Analysis

Although the degree programs may differ in name and duration they still involve the study of some common subjects, such as:-

  • Financial Reporting
  • Cost Management
  • Auditing
  • International Accounting
  • Advanced Financial Accounting
  • Managerial Finance
  • Enterprise Database Systems

Admissions to Masters in Accounting in USA

The applications for Masters in Accounting in USA proceed in several rounds. Therefore, aspirants, especially international applicants, are advised to keep a track of the application rounds and then plan their admission to a selected institution. Furthermore, candidates who submit a GPA of at least 3.0 out of 4.0, usually, get a GMAT/GRE waiver from the university.

Masters in Accounting in USA: Eligibility Criteria

In order to get admission into Masters in Accounting in USA, candidates must fulfil the following entry requirements:-

  • 4-year Bachelor’s degree in Accounting or equivalent with at least 3.0 out of 4.0 GPA from a recognized university
  • Relevant prior professional experience
  • 2 academic and 1 professional Letter of Recommendation (LOR)
  • A 500-750 word Statement of Purpose (SoP)
  • Official transcript or certified copies of transcripts
  • Updated Resume or CV
  • Portfolio
  • Personal Interview
  • A valid passport
  • US Student Visa
  • Proof of English Proficiency:-
    • IELTS: 6.5 to 7 overall score
    • TOEFL iBT: 80 to 100 overall score

Also Read: US Student Visa

Masters in Accounting in USA: Admission Requirements

The admission requirements for applying in a Masters in Accounting in USA are provided in the following table:-

University Bachelor’s Degree Requirements English Language Requirements
University of Michigan Bachelor’s degree in Accounting or equivalent with at least 3.2 out of 4.0 GPA from a recognized university with relevant experience IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100
New York University 4-year Bachelor’s degree in Accounting or equivalent with at least 3.0 out of 4.0 GPA from a recognized university IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100
University of Texas at Dallas Bachelor’s degree from a recognized university with at least 3.0 out of 4.0 GPA TOEFL: 80
Boston College Bachelor’s degree from a recognized university with an average of 3.6 out of 4.0 GPA IELTS: 7.5 (with at least 7 in each band) | TOEFL: 100
Ohio State University, Fisher School of Business Bachelor’s degree from a recognized university IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100 (at least 24 in each section)
Michigan State University Bachelor’s degree in Accounting or equivalent with at least 3.0 out of 4.0 GPA from a recognized university IELTS: 7 (with at least 6.5 in each band) | TOEFL: 100
University of Dallas Bachelor’s degree from a recognized university IELTS: 6.5 (with at least 6 in each band) | TOEFL: 80
Pennsylvania State University Great Valley 4-year Bachelor’s degree in Accounting or equivalent with at least 3.0 out of 4.0 GPA from a recognized university IELTS: 6.5 (with at least 6 in each band) | TOEFL: 80
Columbia Business School Bachelor’s degree in Accounting or equivalent from a recognized university IELTS: 7.5 (with at least 7 in each band)

Masters in Accounting in USA: Costs

The entire cost of pursuing Masters in Accounting in USA is the summation of smaller individual costs such as the tuition fees and living expenses. The following sections elaborate on these individual costs in a tabulated manner:-

Masters in Accounting in USA: Tuition Fee

The cost of pursuing an MS in Accounting in USA falls anywhere between USD 41,250 and USD 84,900, which is equivalent to INR 34 Lakhs and INR 70.1 Lakhs. For further information, refer to the following table containing the university-specific tuition fees:-

Masters in Accounting in USA: Tuition Fee

University Tuition Fee per year (USD) Tuition Fee per year (INR)
University of Dallas 41,250 34 Lakhs
Columbia Business School 51,600 42.6 Lakhs
University of Michigan 55,900 46.2 Lakhs
Pennsylvania State University Great Valley 56,300 46.5 Lakhs
The University of Texas at Dallas 58,000 47.9 Lakhs
Ohio State University, Fisher School of Business 59,500 49.1 Lakhs
Michigan State University 59,800 49.3 Lakhs
Boston College 60,350 49.8 Lakhs
New York University Stern 60,500 49.9 Lakhs
University of Pennsylvania 84,900 70.1 Lakhs

Cost of Living in USA

USA is the most popular as well as the costliest study abroad destination for Masters in Accounting in USA as well as other programs. This corresponds to the quality of education, safety, ambiance, and health services the country offers. The following table shows the average expense and the cost of living in USA for international students:

Expense Type Average Annual Expense (USD) Cost for Indian Students (INR)
Accommodation 9,658 7,94,211
Meals 5,424 4,46,034
Transportation 1,200 98,680
Health Insurance 500 41,116
Personal Expenses 2000 1,64,460
Total 18,782 15,44,509

Cost of Living in USA

Masters in Accounting in USA: Scholarships

WIth a high cost of living and similar tuition expenses, it is imperative for international candidates to watch out for scholarship programs and grants, in order to make ends meet. Therefore, here are some of the popular finding options for international candidates studying MS in Accounting in USA:-

Scholarship University Eligibility Award
Academic Excellence Fellowship University of Pennsylvania Candidates studying MBA with high GPA USD 10,000
AICPA Foundation Scholarship American Institute of Certified Public Accountants Candidates studying Master’s in Accounting in USA USD 3,000 to 10,000
Satish and Yasmin Gupta College of Business Graduate Scholarship University of Dallas Candidates studying MBA or MS program USD 1,000 per credit hour
Rotary International Ambassadorial Scholarships US Government Citizen of a country with Rotary clubs | 2 years of college course work or equivalent Up to 25,000 USD
Fulbright Scholarships for Indians US Government Indian citizen | Academic excellence | English proficiency Monthly stipend, Tuition and cost of attendance coverage
Inlaks Scholarship US Government Indian citizen | Minimum 65-75% marks 100,000 USD
AAUW International Fellowship US Government Non US-based women pursuing master’s and doctoral programs in USA 20,000-50,000 USD
JN Tata Endowment Fund (loan) US Government Indian citizens | Bachelor’s degree | Minimum 60% marks INR 1 Lakh -10 Lakhs

Masters in Accounting in USA: Placements

After pursuing Masters in Accounting in USA , candidates are free to start their Accounting career and earn an annual salary ranging from USD 56,500 to USD 148,300, equivalent to INR 46.6 Lakhs to INR 1.22 Crore. Here are some of the popular job profiles available after completing MS in Accounting in USA:

Masters in Accounting in USA: Placements

Job Profile Annual Salary (USD) Equivalent Salary (INR)
Staff Accountant 56,500 46.6 Lakhs
Accountant 59,800 49.3 Lakhs
Senior Accountant 75,700 62.5 Lakhs
Senior Financial Analyst 82,500 68.1 Lakhs
Accounting Manager 86,200 71.1 Lakhs
Financial Controller 95,500 78.8 Lakhs
Chief Financial Officer (CFO) 148,300 1.22 Crore

Explore: Post-Study Work Visa in USA

Masters in Accounting in USA: Return on Investment

As the demand for MS in Accounting graduates in USA is strictly increasing, the program offers a great return on investment. On average, each university offers the following annual graduate payout:-

Masters in Accounting in USA: Return on Investment

University Tuition Fee per year (USD) Graduate Salary (USD)
New York University Stern 60,500 134,000
The University of Texas at Dallas 58,000 78,000
Ohio State University, Fisher School of Business 59,500 113,000
Michigan State University 59,800 75,000
University of Dallas 41,250 73,000
University of Pennsylvania 84,900 91,000
Pennsylvania State University Great Valley 56,300 107,000
Columbia Business School 51,600 155,000

Masters in Accounting in USA vs MS in Accounting in UK

The following table compares Masters in Accounting in USA with Masters in Accounting in UK on the basis of GPA, tuition costs, graduate salary, etc.

Particulars Masters in Accounting in USA Masters in Accounting in UK
Degree Requirement 4-year Bachelor’s degree in Accounting or equivalent from a recognized university 2:1 or 2:2 Bachelor’s honours degree in Accounting, Business, Finance or a related stream from a recognized university
GPA 3.0 out of 4.0 (83-86%) 3.2 out of 4.0 GPA or 8 out of 10 GPA for Indian students
Duration 1-2 Years 9 Months to 2 Years
ELP Score IELTS: 6.5 to 7.5 overall score | TOEFL iBT: 80 to 100 overall score IELTS: 6 to 7 overall score | TOEFL iBT: 88 to 107 overall score
Monthly Cost of Living 2,448 USD (2 lakhs INR) 1,120 GBP (1.11 lakhs INR)
Annual Tuition Fees USD 41,250 to USD 84,900 (INR 34 Lakhs to INR 70.1 Lakhs) GBP 16,000 to GBP 42,200 (16- 42 Lakhs INR)
Graduate Salary USD 56,500 to USD 148,300 (INR 46.6 Lakhs to INR 1.22 Crore) GBP 32,000 to GBP 69,500 (INR 31.6 - 68.5 Lakhs)

Masters in Accounting in USA is a beneficial program to pursue after completing a Bachelor's in Accounting or an Accountancy-related stream. It guarantees high-paying job options to worthy candidates such as Financial Analysts, Financial Managers, auditors, Senior Accountant, etc.

FAQs

Ques. Is it hard to pursue a Masters in Accounting in USA?

Ans. Masters in Accounting in USA is considered a graduate program with a tough curriculum that includes the study of tax laws, business laws, financial planning, business strategy and planning, etc.

Ques. How much does a Masters in Accounting in USA cost?

Ans. On average, Masters in Accounting in USA costs from USD 41,250 to USD 84,900 which is equivalent to INR 34 Lakhs to INR 70.1 Lakhs.

Ques. What are the top institutions for studying Masters in Accounting in USA?

Ans. Some of the top universities offering Masters in Accounting in USA are:-

  1. University of Pennsylvania
  2. University of Dallas
  3. New York University Stern
  4. Michigan State University

Ques. What are the requirements for studying Masters in Accounting in USA?

Ans. In order to apply for an MS in Accounting program in USA, candidates must have completed a 4-year Bachelor’s degree in Accounting or equivalent with at least a 3.0 out of 4.0 GPA from a recognized university. Furthermore, an IELTS score of 6.5 to 7.5 or TOEFL iBT overall score of 80 to 100 is acceptable.

Ques: Can I do a Masters in Accounting in USA without GMAT?

Ans: It is dependent on the specific requirements of the Masters in Accounting program you are interested in. While some universities may require GMAT score of 500+ as part of the admissions process, others may not.

Ques. What after MS in Accounting in USA?

Ans. The completion of an MS in Accounting in USA allows an individual to start working in the Finance and Accounting industry and earn an annual salary ranging from USD 56,500 to USD 148,300 (INR 46.6 Lakhs to INR 1.22 Crore).