Masters in Accounting in USA: Fees, Deadlines 2024-25, Admissions, Job Opportunities

Highlights

• Degrees: Masters in accounting is available as MS, MBA, MAcc, and Master of professional accounting in USA.
• Cost of Studies: Annual tuition fee for the program can widely vary between 5,612 and 84,874 USD (4.67 and 70.67 lakhs INR). The cost of living ranges around 20 to 25 lakhs INR per annum. 
• Employment Opportunities: According to U.S. Bureau of Labor Statistics, USA will experience 4% growth in employment for accountants and auditors from 2022 to 2032, showing significant professional opportunities.
• Top Employers: JP Morgan Chase & Co, Wells Fargo, Bank of America, EY, PwC, Deloitte, Citi, KPMG, Morgan Stanley are some top recruiters in USA in the field of accounting and finance.
• High Return on Investment: You can expect to earn an average salary of 79,000 USD (65.80 lakhs INR) per year after masters in accounting in USA.

Masters in accounting in USA is a 1.5 to 2 year graduate degree program. The course is centered around accounting principles, auditing, taxation, and other verticals of business. Currently, 3 of the top 15 universities in the world for accounting and finance belong to USA, according to QS WUR by subject, 2024.

International students should aim for a GPA of 3.0 or above (85%) out of 4.0 for admission to masters in accounting in USA. While several top universities like NYU and Columbia University offer a GRE/GMAT waiver for admission to the program, a GMAT score of 700 or equivalent is recommended. The minimum English proficiency requirements to attain the masters in accounting degree in USA are:

• TOEFL iBT: 80
• IELTS: 6.5

Supporting documents required for admission to masters in accounting in USA includes:

• 2 academic and 1 professional LOR
• Statement of purpose (500-800 words)
• Official transcript or certified copies of transcripts
• Updated resume or CV
• Portfolio
• A valid passport
• US student visa

Top Universities in USA for Masters in Accounting

Masters in Accounting in USA is offered by various top universities like NYU, Columbia University and even ‘Ivy League’ institutes like UPenn. Tuition fees for masters in accounting program can widely vary between 5,612 and 84,874 USD (4.67 and 70.67 lakhs INR) per year. Admission to the program is offered in the terms of fall and spring. The following table contains the tuition costs and application information of the top universities in USA for Masters in Accounting:

Why Study Masters in Accounting in USA?

USA is the largest economy in the world with numerous headquarters of renowned companies in the world. This makes employability in accounting and business sector a favorable factor for international students in USA. Here are some of the major reasons to pursue a Masters in Accounting in USA:

• Reputation: As per QS Rankings 2024, 3 universities offering masters in accounting in USA to international students are ranked among the top 15 universities for Accounting and Finance. A masters in accounting in USA from a recognized institute is globally acknowledged.
• GRE/GMAT Waiver: Several universities in USA, including top universities like University of Pennsylvania, New York University, and Columbia University provide GRE or GMAT score waivers. This makes USA an ideal spot for students seeking test-optional admission policy.
• Top Employers: 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 (70.80 lakhs INR) to accounting graduates.
• High Paying Jobs: After the completion of Masters in Accounting in USA, you can earn a salary of up to 149,000 USD (1.24 crore INR) per year.

Admissions to MS in Accounting in USA

The applications for Masters in Accounting in USA proceed for up to 4 or more 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. 

MS in Accounting in USA: Admission Requirements

For admission to MS in accounting in USA, students require a 4-year bachelor’s degree in accounting or equivalent. GMAT or GRE scores are mostly optional or not required for admission to MS in accounting in USA. Candidates who submit a GPA of at least 3.0 out of 4.0 (85%) usually, get a GMAT/GRE waiver from the university. The admission requirements to apply for a masters in accounting in USA are provided in the following table:

US Student Visa Application

International students need a US student visa for admission to masters in accounting program in US. The supporting documents required to avail the F1 visa are as follows:

• Academic transcripts and mark sheets in English
• Confirmation page of form DS-160 
• SEVIS fee payment receipt
• Standardized test scores
• Your recent photo
• Valid passport 
• Proof of availability of sufficient finances to stay and study in USA
• Form I-20, signed by the candidate and an official of the SEVP-approved school 
• Proof of genuine intent to leave USA after education

MS 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:

MS in Accounting in USA Fees

As an international student, you should anticipate to spend between 5,612 and 84,874 USD (4.67 and 70.67 lakhs INR) across the universities. Check out the tuition fees across some top universities for masters in accounting in USA:

Cost of Living in USA

USA is the costliest study abroad destination in terms of living expenses. This corresponds to the quality of education, safety, ambiance, and health services the country offers. The following table shows an estimation of the cost of living in USA for international students:

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 scholarships to study in USA. Some popular scholarships for international students in USA are as follows:

Masters in Accounting in USA: Job Opportunities

The average salary of graduates with master of accounting in USA is 79,000 USD per year (65.80 lakhs INR). Some commonly pursued professions after masters in accounting in USA are as follows:

Masters in Accounting in USA: Return on Investment

After completing masters in accounting in USA, you can secure high-paying professional roles like Accountant, Cost Accountant, Auditor, Client Accounting Manager, Property Account and others. There are abundant growth opportunities in these fields with various senior roles like Senior Accountant, Senior Staff Accountant, Senior Cost Accountant, Senior Accounting Manager among others. 

These lucrative jobs demonstrate significant return on investment for international students. Check out the comparison between tuition fees and graduate salary at some renowned universities for masters in accounting in USA:

Masters in accounting in USA ensures excellent career growth with senior roles like Financial Analysts, Financial Managers, Auditors, and Senior Accountant. With top employers like JP Morgan Chase & Co, Bank of America, EY, PwC, Deloitte, Citi, KPMG, Morgan Stanley, USA demonstrates exceptional employment potential in the field of accounting. Universities like UPenn, NYU, Columbia State University, offer some of the best MSA programs in USA. The higher educational opportunities across top universities and lucrative professional roles make USA a center for masters in accounting programs.

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