You earned your bachelor’s degree in accounting and you’re done with school, or are you? If you take your education to the next level and study for your master’s degree in the same field, you open the door to higher-paying job opportunities. The Bureau of Labor Statistics expects the job demand for qualified accountants to increase 11 percent by the year 2024, and when you consider those with a master’s degree are known to fetch six-figure annual salaries when working with larger firms, it makes sense to go back to school. Here are seven careers you can enter into after you earn your master’s degree.
If you prefer to be in the heart of a business’ operations, you should consider a career as an actuary. Actuaries are people who write policies within an organization to minimize its auditing, financial, and tax risk. You will use your expertise in accounting, business, and statistics to determine the best approach for a company and then author the control measures by which it is bound.
If you prefer to test those measures and ensure a business is in compliance with all internal and external controls and the state and federal tax authorities, you should consider becoming an auditor when seeking job opportunities for masters of accounting graduates. You will check, line by line, a company’s expenses, income, and all financial records to make certain everything is on the up-and-up.
3. Budget Analyst
If budgeting is your forte, consider taking that skill and building your career off it. A budget analyst helps a business get on track and stay there. You will assess the financial situation of a business and then guide that business on ways to make the most of the money it has. Your budget will be the company’s financial bible, and you will also offer crucial investment advice to help the business grow.
4. Compliance Manager
In some respects, a compliance manager is an auditor on the inside of a business. Should you opt for this career, you will be in charge of making certain everything is copasetic within the company. You will ensure all bookkeeping and internal control measures are accurate and compliant. You will also work with external auditors and handle the business’ financial reporting and tax requirements.
5. Forensic Accountant
Help law enforcement charge financial criminals; help lawyers prosecute them. A forensic accountant is in the thick of catching those who have committed financial fraud. You will go over financial records to determine where a crime has been committed, and you might testify in court against the perpetrator of the illegal activity. Imagine using your math skills to help catch the bad people.
6. Risk Analyst
A risk analyst takes what an actuary, budget analyst, and compliance manager do, and combines it into one job. You will stay abreast of a business’ financial picture and identify its strengths and weaknesses. You will work with the CEO and other higher-ups to help them make the decisions that will affect the business’ financial outlook. You will be the person to say, “No, that’s too risky. Do this instead.”
Treasurers work for the government or nonprofit organizations more than for-profit businesses. You will be in charge of the money, and you must hold a master’s degree to work at the government level. If you are excellent at tracking and dispersing funds, a treasurer may be the perfect job for you, and you if work for a nonprofit, you can help support a cause you in which you believe.
These are seven careers that are at your fingertips if you earn your Master of Accounting. Don’t hold yourself back by stopping at your bachelor’s degree. Earn your master’s degree and watch your career thrive to new heights.