When you’re thinking about starting an online Master of Business Administration program, choosing a concentration may be one of the most important decisions you’ll make. There are many ways to choose a specialty and many good reasons to consider focusing on accounting. It’s a high-paying specialty that is in high demand. Having a background in accounting can help you as you enter the business world and as you move up the corporate ladder into positions of higher responsibility that offer correspondingly higher pay.
High-Paying Field
Accounting is one of the highest-paid areas of specialization for people with an MBA, according to Monster.com. Students who choose to specialize in accounting can expect to move on to jobs ranging from staff accountant to financial controller and, eventually, to chief financial officer (CFO).
According to a 2016 report from Poets & Quants, the median mid-career salary for someone with an MBA in accounting is $94,300. Those who aspire to the position of CFO can expect to earn an average of $133,430 per year according to PayScale’s data from September 2017. Financial controllers come in at $90, 273 per year. Corporate controllers average $104,978 per year.
In-Demand Specialty
Students who choose a concentration in accounting are in demand when they finish their program. Many jobs require in-depth knowledge of accounting techniques, rules, practices and laws, and you’ll get all the information you need in our online accounting-focused MBA program. This degree will open the doors to both entry- and senior-level positions that oversee a business’s finances.
Even though you might not get a senior-level job immediately after graduation, it’s not uncommon for people with an MBA in accounting to move into positions like chief financial officer. Chief financial officers must have a deep understanding of accounting to be able to analyze the company’s financial situation and understand how to manage the company’s finances in the present and the future.
This MBA will allow you to work in both the public and private sector. You will be able to work in any industry you choose — every company needs someone who can manage the company finances and make sure the company is complying with all applicable laws.
If you want the flexibility to work in almost any type of organization, and you want a specialty that is both highly paid and in high demand, consider enrolling in the online Master of Business Administration in Accounting program at Fitchburg State University. It will prepare you to work as a staff accountant and to move up the ladder to roles like corporate controller, internal auditor or chief financial officer. You’ll be able to command a higher salary and know that your role in the company is essential to the business’s long-term health and success.
Learn more about Fitchburg State University’s online MBA in Accounting program.
Sources:
U.S. News & World Report: 5 Tips for Choosing an M.B.A. Concentration
Monster: Best-Paying MBA Majors
PayScale: Master of Business Administration (MBA), Accounting & Finance Degree Average Salary
Top Accounting Degrees: What Jobs Are Available with an MBA in Accounting?
