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MBA vs. Master’s in Accounting: What Are the Differences?

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For professionals weighing advanced education options, both a Master of Business Administration (MBA) and a Master of Accounting offer valuable, distinct paths for specific career goals. An MBA provides a well-rounded education in business leadership and management. On the other hand, a Master of Accounting offers focused training in finance, compliance, and specialized areas within accounting. 

To align their career goals, individuals can explore MBA vs. master’s in accounting differences and similarities. Individuals looking to advance in business or accounting should also consider the different educational pathways. For example, individuals looking to advance in accounting can enroll in a Master of Accounting program. Individuals looking to position themselves for business leadership roles, should consider pursuing an MBA program.

MBA Definition

An MBA degree prepares students with the skills and knowledge needed for careers in business management. MBA studies combine theory and practical skills to give students a strong understanding of business functions. Although an MBA is widely considered a terminal degree — the highest qualification that business professionals can pursue — individuals may seek a doctorate if they want academic or research roles. 

Students can enroll in full-time, part-time, or online MBA programs to align with their current lifestyles and future career goals. International MBA options are also available.

What Will You Learn in an MBA Program?

MBA students can focus on general business or specialize in accounting, finance, marketing, or international business. This flexibility makes the degree useful across many industries. 

An MBA allows students to choose a general business focus or specialize in specific fields. The curriculum covers the following: 

  • Leadership
  • Finance
  • Entrepreneurship
  • Strategic planning 

Popular concentration options include the following:

  • Accounting
  • Marketing
  • Operations management
  • Risk management
  • International business

MBA Skills

MBA programs focus on developing competencies prioritized by employers. The Graduate Management Admission Council says that employers want candidates with strong problem-solving, communication, and strategic thinking skills. The council also noted that over a third of global recruiters expect to hire more MBA candidates in 2024 than last year.

MBA programs equip graduates with competencies to thrive in dynamic business environments, including leadership techniques for team and project management, strategic thinking for decision-making, and effective communication to convey complex ideas persuasively. Each program’s curriculum varies, so students should select one that aligns with their career goals.

Master’s in Accounting Definition

In comparing MBA vs. master’s in accounting programs, a key similarity is that they are both graduate degrees. However, the primary focus areas in an accounting master’s program include accounting principles, financial reporting, and taxation. This degree trains students in the technical and regulatory aspects of accounting, preparing them for roles in auditing, tax consulting, and other accounting fields.

While not all accountants earn a master’s degree, it can improve their job prospects and is often necessary for Certified Public Accountant licensure. For example, some MBA programs are designed to meet the educational requirements for the CPA exam, a prerequisite for the CPA credential. The course offerings can vary from one master’s in accounting program to another.

What Will You Learn in a Master’s in Accounting Program?

A Master of Accounting is a specialized graduate degree, focusing on advanced accounting topics. It is a top choice for those wanting to work in auditing, financial reporting, and forensic accounting. According to the council, demand for accounting expertise is strong, with 27 percent of global employers planning to hire more Master of Accounting graduates in 2024 than in previous years. 

The curriculum focuses on compliance, analysis, and accurate reporting — competencies crucial for professionals who interpret complex financial data. The program often includes practical exercises, such as the preparation of financial statements, the execution of audits, and the comprehension of regulatory frameworks. 

Master’s in Accounting Skills

Master's in accounting skills are essential for professionals handling complex financial data and complying with legal and industry standards. In today’s data-driven world, this includes equipping students with technical proficiency in accounting software and data analysis tools.
A master's in accounting program enhances attention to detail and analytical skills, preparing graduates to interpret financial information accurately. It also builds regulatory knowledge, ensuring that students understand the compliance requirements of various accounting roles.

MBA vs. Master’s in Accounting: Key Differences

Diving into the differences between MBA and master’s in accounting programs, it becomes clear that they both provide valuable skills. However, each supports distinct career paths. An MBA offers broad opportunities across industries, preparing graduates for leadership roles, such as CEO, chief financial officer, and management consultant. Many MBA graduates also become entrepreneurs, using their strategic and managerial skills to start and grow businesses. Industries such as health care, finance, technology, and consulting often seek out MBA graduates because of their expertise in managing complex businesses.

In contrast, a master's in accounting degree is geared toward specialized roles in accounting and finance. Many graduates go on to obtain CPA certification, leading to careers in public accounting, auditing, tax consulting, or forensic accounting, in which they focus on ensuring regulatory compliance and investigating fraud.

Graduate salaries vary by role. Master of Accounting graduates can pursue positions as accountants and auditors, with a median annual salary of $79,880, or advance to management roles, such as financial manager, earning $156,100 as of May 2023, according to the U.S. Bureau of Labor Statistics. MBA graduates often target general or operations manager positions, which earned a median annual salary of $101,280, or executive positions, such as CEO, which earned a median annual salary of $206,680 as of May 2023.

Finding Your Fit: MBA vs. Master’s in Accounting for Career Success

Choosing an MBA or master’s in accounting depends on career goals. An MBA provides versatility for leadership roles across sectors, while a Master of Accounting degree offers focused expertise for careers in finance and accounting.

For those aiming to advance as accounting or finance leaders, the Master of Accounting program from the A. B. Freeman School of Business at Tulane University prepares students for the CPA exam. With rigorous coursework in advanced financial accounting, auditing, managerial accounting, and accounting analytics, the program equips students with essential skills valued by global employers, including the Big Four accounting firms.

Individuals seeking to pursue senior-level or leadership roles in business fields can enroll in the Full-Time MBA program at the business school. The program enables students to specialize in business analytics, finance, strategy and marketing, or sustainability. The MBA programs are also available in other formats, including Professional MBA, Executive MBA, and Online MBA.

Located in the New Orleans, Louisiana, metropolitan area, which Forbes ranked as the No. 1 Best Place in America for College Students and Graduates, Tulane provides an ideal setting for career preparation. Learn more about the Master of Accounting and MBA programs from the business school.

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