Where Will Your Master’s in Accounting Take You?

Here are five career paths that are not about tax prep and filing

Being a whiz at understanding a company’s or individual’s financial records can certainly make you popular during tax time. And by earning a master’s in accounting, you can enhance your ability to assist with tax prep and tax planning, even as you boost your career prospects and knowledge in the field.

Skilled accountants with advanced degrees are valuable to employers for their specialized expertise, which can lead to higher earning potential and career advancement.

While tax preparation, tax planning and auditing jobs are the most common career paths, a master’s degree in accounting also opens the door to other jobs in the field.

Learn more about SHU’s AACSB-accredited master’s in accounting program.

Here are five to consider

Financial Controller

This role takes a top-level view of financial management and reporting. Financial controllers create budgets and financial forecasts to answer questions about where to spend and where to invest funds. These execs also monitor cash flow, analyze spending, comply with regulations and standards, track trends, assess risks and come up with plans to mitigate those risks. Annual wages range from $99,000 to $164,000 per year, but with additional pay, such as cash bonuses, commissions, tips and profit sharing, the total yearly pay can fall between $133,000 and $228,000.

Cost Accountant

Cost accountants help businesses track their expenses and stay within budget. They gather data about production costs, labor and materials to determine how much it costs to make a product or offer a service, as well as identify areas to save money or improve efficiency. Through reports and forecasts, they give managers insights into making smart financial decisions and boosting profitability. Annual salaries for cost accountants typically range from $65,500 to $87,500, but some top earners can make upward of $129,000.

Sports Accountant

Sports fans with accounting experience can do more than support their teams from the sidelines. With the sports industry expanding, there are more opportunities for those with master’s degrees from accounting programs to enter the field. In addition to filing tax returns for teams and players, sports accountants have responsibilities that extend beyond tax season. They may conduct franchise and player value analysis, handle sports gambling company finance or work with athletes to help them manage income and plan for retirement. The average annual salary is about $98,000.