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.
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.
|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|