by Elizabeth Armentor
elizabeth.armentor@online-masters-degrees-programs.org
Online Masters Degrees Programs Columnist

In the last few years, the country has witnessed some major business scandals: Enron, WorldCom, and Tyco International to name a few. In response, the Federal government passed the Sarbanes-Oxley Act, major legislation designed to regulate how companies conduct their accounting. And as of 2005 almost all states require those seeking a certified public accountancy (CPA) license to complete 30 hours of accounting study above and beyond what is typically needed to earn a bachelor’s degree. These legal changes have drastically reduced the pool of qualified candidates for accounting jobs making this a great field of study for anyone interested in earning an online master’s degree.

Why Pursue an Online Master’s Degree

If you’ve already got a career in accounting or business, leaving your job to earn a master’s degree may feel like a step backward. By attending an online university you can retain the momentum and seniority you’ve achieved in your current career while expanding your education. Also many companies fully or partially reimburse tuition for degrees that can benefit them in the future. Additionally you can immediately apply what you are learning in your online accounting classes to your job. This can reinforce what you are learning and help you determine ways to apply your new knowledge immediately, rather than waiting until you’ve finished your degree program.

Career Outlook for Master’s in Accounting

The Bureau of Labor Statistics (BLS) predicts that accounting jobs will grow faster than average through 2014. This is attributed not only to the changes in accounting regulations but also to the ongoing complexity of the federal income tax code. With the National Association of Colleges and Employers NACE) reporting average starting salaries of $45,000 to $48,000 and the flexibility to keep working while you learn an online master’s degree in accounting is a career investment you can’t afford to pass up.

Sources:

Bureau of Labor Statistics
NACE Employment Survey

About the Author:

Elizabeth Armentor is a former university instructor who writes about education issues.