Explore the career possibilities, average salary, and included courses in an online master’s in accounting with no GMAT. There are a variety of programs available to help you continue your education after receiving a bachelor’s degree in accounting. Use this Campus Explorer guide to compare online programs to find the right match for your situation.
What Is an Online Master’s in Accounting?
Accounting combines courses in finance and business. As a student in an online master’s in accounting course, you will learn how to prepare tax documents, create financial reports, review income and expenses, and perform other duties. Accountants work in corporations, government agencies, nonprofit organizations, and small businesses.
Most online master’s in accounting programs require a bachelor’s degree from an accredited institution. For many master’s programs, your bachelor’s degree must be in accounting or a related field. Many programs require a minimum GPA, typically in the 2.75 to 3.0 range. Some also require a GMAT score, but there are online master’s in accounting programs with no GMAT requirements.
Before you enroll in an online master’s in accounting, you typically must have taken coursework in accounting. Some programs require courses in financial accounting, statistics, business law, and microeconomics. Other programs may have less required coursework, so be sure to compare program requirements.
You can typically complete a master’s degree — both online and in-person — in accounting in one to two years. There are also part-time online programs available to complete the required 30 to 45 credits in more time. Online courses can be self-paced or provide other options for a more flexible learning environment.
A master’s degree in accounting typically fulfills the eligibility criteria to allow you to sit for the CPA exam. After successfully completing this exam, you can become a Certified Public Accountant, or CPA. CPAs can analyze financial documents for tax or investment purposes.
You can specialize in a number of areas of accounting, including forensics, taxes, corporate accounting, and personal finance.
Here are other positions that you may be qualified for with a master’s in accounting:
- Management analyst
- Financial manager
- Tax examiner
- Government or management accountant
How Much Does an Online Master’s in Accounting Cost?
Tuition prices vary depending on state residency, program length, and other factors. On average, you can expect to pay $500 to $1,800 per credit. This makes the total cost of the master’s degree approximately $24,000 to $72,000.
The cost of an online program is typically lower than an in-person program. Grants and scholarships can help reduce the cost of an online master’s in accounting program.
Find the right Master’s in Public Administration program for you
Average Salary for a Master’s in Accounting
When you receive an online master’s in accounting with no GMAT, you can expect an average salary of $72,360, according to PayScale. This is more than the average salary for bachelor’s degree holders in accounting, at $63,547.
There are a number of industries you can enter, which all have different average salaries. According to the U.S. Bureau of Labor Statistics, or BLS, the median annual wages for accountants in the finance and insurance industry is $78,600. Accountants and auditors working in government have a median annual wage of $72,260.
Once you select an industry, your position is another major factor in your expected income. According to PayScale, the average salary for an accountant with a master’s degree in accounting is $56,000, but the average salary for a Chief Financial Officer is $137,000. Accounting managers fall in between these salaries, with an average salary of $83,000.
What Is the Job Outlook for Master’s in Accounting Degree Holders?
The accounting industry is expected to grow slightly faster than the average job growth. The average of total employment growth from 2019 to 2029 is 3.7%, according to BLS. In accounting, the projected growth is 4%, which is expected to result in an additional 61,700 positions over the decade.
Both verbal and written skills are essential when working in public administration. As a result, interpersonal communication, media communications, and intercultural communications are examples of courses in this degree.
It’s essential to understand the legal aspects of how governments and nonprofits operate. These courses would likely include learning about local, state, and federal regulations. A person might also study law regarding topics such as human resources and urban planning.
Statistics courses can help someone analyze and understand different types of data. This is important for many jobs in public administration, and it is especially important for someone in a research position.
Classes in ethics would provide a student with guidelines for making good decisions. Whether for allocating government resources or setting policies as a human resources manager, sound ethical choices are often part of the job.
Learning to effectively manage people and finances is essential for almost any position in which a person oversees staff and resources. Some sample classes a person might take at California State University Northridge include Public Budgeting and Financial Administration, and Public Human Resources Management.
FAQs on an Online Master’s in Public Administration No GRE Required
The following are a few frequently asked questions regarding a master’s in public administration degree.
The following summarizes the information to know for an online master’s in public administration no GRE required.
When earning an MPA, students have several program options available. The time to complete each option would depend on the specific program.
- Online, on-site, and accelerated programs are all available for a person seeking an MPA. A person might also enroll in a hybrid program, which would include taking classes online and in the classroom. There are also programs that are completely online for those who don’t want any on-site classes.
- Programs typically take 36 to 48 months to complete. The accelerated programs will take less time but will likely require more commitment and time in the short term. Part-time programs are available for those who are working full time.
- There are both private and public programs available for students. Sometimes, private tuition is more expensive, but that is not always the case. A person will also want to consider the size of the school and how many students are in the program. A larger program, even if it is primarily online, may allow interaction with more students through online discussion boards and real-time interaction platforms.
- Students can also choose areas of specialty when getting an MPA. Different schools may offer specific areas of study, such as Public or Nonprofit Management, Public Sector Management and Innovation, National Security Policy and Management, Environmental Management, Human Resource Management, Data Analysis in Public Policy, and degrees in Health and Social Policy.
A master’s in public administration has several obvious benefits. The following are a few of the most prominent benefits of obtaining an MPA.
- The first is the ability to get a high-paying job. The average pay for a bachelor’s degree in public administration is about $50,000 a year, while the average with an MPA is $69,000. This means the degree should pay for itself in two years or less. Receiving an online master’s in public administration is worth the time and expense for most people in the long run because of the higher pay.
- The second benefit of receiving an MPA is that it will let an individual pursue several career options. A person with an MPA may choose to work in the private sector; however, most positions are likely in the public sector. This would include government positions, nonprofit organizations, and social service agencies. There are many jobs, career paths, and organizations open to a person with an MPA.
- Earning an online master’s in public administration is normally less expensive than getting a degree on campus. This is because there are extra costs when learning at an on-site institution. Of course, besides tuition, a person earning an online MPA may need to pay for books, a computer and printer, and a Wi-Fi connection. Generally, though, online study is less expensive and easier to get than in-person learning.
The general costs are as follows:
- Costs will differ from school to school. Some online MPA programs may cost as little as $10,000, while others may cost over $20,000. Receiving an online degree is usually less expensive than earning one on campus.
- Paying for tuition is different in each program. Most times, a student will pay tuition at the beginning of each quarter or semester before classes begin. But some programs may allow students to pay on installment plans. This means the student can pay installments, or portions of the bill, over several months’ time. For example, if tuition costs $10,000, a student can pay $500 a month over a twenty-month period.
- Even with different payment plans available, it is still often difficult for individuals to pay for their schooling. Fortunately, there are several financial aid options available. Federal Student Aid puts forth a checklist that every graduate student should go over when preparing to pay for their education. There are several types of loans, grants, and other types of aid often available for anyone pursuing an MPA, so students should always consider filling out the Free Application for Federal Student Aid (FAFSA) form.
- Individuals who are already working full time and wish to further their careers should speak with their employer regarding financial assistance. Sometimes, employers will reimburse an employee if the person is seeking a degree that will ultimately benefit the company. If a person needs to work but doesn’t currently have a job, the individual may want to pursue a work-study position with a company.
|University Name||Program’s Name||GMAT Required?|
|Albertus Magnus College||Master of Science in Accounting||Not Required|
|Benedictine University||Master of Science in Accounting||Not Required|
|DePaul University||Master of Science in Accounting||Not Required|
|Franklin University||Master of Accounting||Not Required|
|Gardner-Webb University||Master of Accountancy||Not Required|
|George Mason University||Master of Accounting||GMAT Waivers Available|
|Indiana Wesleyan University||Master of Accounting||Not Required|
|Liberty University||Master of Science in Accounting||Not Required|
|Maryville University||Master of Accounting||Not Required|
|Merrimack College||Master of Science in Accounting||Not Required|
|National University||Master of Accounting||Not Required|
|Northcentral University||Master of Science in Accounting||Not Required|
|Ohio University||Master of Accountancy||Not Required|
|Plymouth State University||Master of Accounting||Not Required|
|Rutgers University||Master of Accountancy in Governmental Accounting||Not Required|
|Saint Joseph’s College of Maine||Master of Accounting||Not Required|
|Saint Mary’s University of Minnesota||Master of Science in Accounting||Not Required|
|South University||Master of Accounting||Not Required|
|St. John’s University||Master of Science in Accounting||GMAT Recommended but not Required|
|Syracuse University||Master of Accounting||GMAT Waivers Available|
|University of Dallas||Master of Science in Accounting||Not Required|
|University of Maryland University College||Master of Accounting in Financial Management||Not Required|
|University of Massachusetts Lowell||Master of Science in Accounting||GMAT Waivers Available|
|University of North Dakota||Master of Accountancy||GMAT Waivers Available|
|University of Scranton||Master of Accountancy||Not Required|
|Utica College||Master of Accounting||Not Required|
|Walden University||Master of Accounting||Not Required|
|West Virginia University||Master of Accountancy||Not Required|
|Western Governors University||Master of Accounting||Not Required|