Many students seek a Master of Business Administration (MBA) degree to expand their career options, whether they studied business as an undergrad or want to start fresh in a new career field. The online MBA has become a popular degree for working professionals and others who wish to strengthen their management and leadership skills or gain a specialized credential in one area of business.
Increasingly, students are choosing an MBA programi n Accounting like the one offered fully online by the University of South Carolina (USC) Aiken. This type of MBA program emphasis can provide a gateway to extraordinary careers in the corporate, government and nonprofit sectors.
Opportunity Unchecked
Accounting is not always portrayed in the media as the sexiest or most exciting profession, but it touches every aspect of society. Accountants solve some of the most intriguing business problems of our time, and a specialization in accounting unlocks a wider world of opportunity for MBAs.
Here are a selection of the highest paying occupations for MBAs who specialize in accounting, with typical annual salary ranges according to December 2022 data from ZipRecruiter:
- Audit partner: $105,500-$128,500
- Internal audit director: $114,500-$150,500
- Financial reporting manager: $92,000-$122,500
- Cost controller: $83,000-$113,500
- Cost accounting manager: $87,000-$115,500
- Senior accounting manager: $81,500-$123,500
- Commercial finance manager: $106,000-$123,000
- Payroll director: $90,000-$124,500
- Financial project manager: $82,500-$127,500
- VP of finance: $107,000-$173,000
The MBA also prepares graduates for executive careers in leadership. An MBA in accounting is particularly well suited to the roles and responsibilities of the chief financial officer (CFO: $100,000-$182,500 salary range) and chief accounting officer (CAO: $106,000-$207,000 salary range). Plus, chief executive positions often come with compensation packages that can add substantially to base salaries with bonuses, profit sharing and other benefits.
Skills Beyond the Numbers
MBA programs with an accounting focus like USC Aiken’s provide students with an opportunity to learn more than business skills. Graduates attain proficiency in the soft skills described as core competencies for accounting professionals a decade ago by the American Institute of Certified Public Accountants (AICPA):
- Communication and leadership
- Critical thinking and problem-solving skills
- The ability to anticipate and serve needs as they evolve
- The capability to synthesize intelligence into insight
- The capacity to integrate and collaborate
These skills remain at the forefront of what professionals need to succeed in the field and are integral to comprehensive graduate-level accounting education, as discussed in a 2022 article from The CPA Journal. They also support the evolving role of accountants as strategic advisors, helping to translate accounting data and processes into guidance that drives collaboration across functions and supports decision-making throughout organizations.
A key part of this is the integration of advancing technologies and accounting practices, increasing the hyper-automation of routine accounting processes and allowing for advanced analysis of aggregated accounting data. Courses like USC Aiken’s Information Systems and Analytics for Accounting and Finance help accounting professionals become tech savvy strategic players in the modern data-driven organization. In this role, accountants can optimize the efficiency of accounting processes while maximizing the cross-functional insight data analytics offers.
A Career With Character
An MBA can also help accountants gain a deeper understanding of the skills required to effectively manage and lead in business and the principles by which they should operate. Whether MBA accountants provide financial services and enforce safeguards that respond to the needs of people, institutions or even an entire country, they must know the implications of their work as well as their responsibilities under the law.
At USC Aiken, MBAs specializing in accounting take advanced coursework in the legal and ethical aspects of business, studying corporate governance issues as well as business environment and culture. Courses promote integrity and objectivity in accounting as well as a commitment to quality that leads to lasting career success.
Whether you want to better serve your clients, grow your business, protect the public from fraud, help a nonprofit make a difference in the community, solve financial crimes or advance your career, an MBA program in accounting can help you accomplish your goals.
Learn more about USC Aiken’s online MBA in Accounting program.
