Masters in Accounting in USA: Admission, Top Colleges, Fees, Jobs & Salary Details

Pursuing a Masters in Accounting in USA is a strategic choice for those aiming to excel in the dynamic field of finance and accounting. This 1.5 to 2-year graduate program, offering degree types such as MS, MBA, MAcc, and Master of Professional Accounting, equips students with advanced skills in accounting principles, auditing, taxation, and business strategy. 

The USA, home to the world's largest economy, hosts top-tier universities like UPenn, NYU, Columbia, University of Michigan, and Ohio State, offering unparalleled opportunities for accounting professionals. With a projected 4% growth in accounting and auditing jobs from 2022 to 2032 (U.S. Bureau of Labor Statistics), graduates enjoy robust career prospects and an average salary of 79,000 USD/year (₹65.8 lakhs). 

The program's global recognition, high earning potential, and test-optional admission policies at universities like NYU and Columbia make it highly attractive for international students, despite tuition fees ranging from 5,612-84,874 USD/year (₹4.67-₹70.67 lakhs) and living costs between ₹20-25 lakhs/year. 

Top recruiters include EY, PwC, Deloitte, KPMG, JP Morgan, and Citi. Admission requirements typically include a 3.0 GPA, TOEFL iBT: 80-100, IELTS: 6.5-7.5, LORs, and SOP, with GMAT/GRE being optional at many universities. Students can specialize in areas like Financial Accounting, Auditing, Taxation, Forensic Accounting, and Management Accounting, tailoring their education to specific career goals and enhancing employability in diverse sectors.

Quick Highlights: Masters in Accounting in USA

Check out the table of quick highlights for Masters in Accounting in USA.

Why Study Masters in Accounting in USA?

The USA stands out as a premier destination for a Masters in Accounting due to its robust economy and global business hub status. Here’s why:

• Global Recognition: Three U.S. universities rank among the top 15 globally for Accounting and Finance (QS WUR 2024), ensuring a prestigious degree.
• Test-Optional Admissions: Universities like UPenn, NYU, and Columbia offer GMAT/GRE waivers, easing the application process for international students.
• Lucrative Careers: Graduates can earn up to 149,000 USD (₹1.24 crore) annually, with roles at top firms like Deloitte, PwC, and KPMG.
• Industry Connections: The presence of “Big Four” accounting firms and major corporations like JP Morgan and Citi enhances job prospects.

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Other Popular Countries for Studying Masters in Accounting

Specializations in Masters in Accounting in USA

Students can specialize in areas like Financial Accounting, focusing on financial reporting; Auditing, emphasizing compliance and risk assessment; Taxation, covering tax planning and laws; Forensic Accounting, investigating financial fraud; and Management Accounting, aiding strategic business decisions. These specializations allow students to tailor their education to specific career goals, enhancing employability in diverse sectors.

Top Colleges for Masters in Accounting in USA

The USA is home to world-class institutions offering Masters in Accounting programs. Below is a table of top universities, their programs, and tuition fees:

These universities offer flexible admission cycles (fall and spring) and are renowned for their rigorous curricula and industry connections.

Admission Requirements for Masters in Accounting in USA

To pursue a Masters in Accounting in the USA, international students need a 4-year bachelor’s degree in accounting or a related field. A minimum GPA of 3.0/4.0 (85%) is typically required, with GMAT/GRE scores often optional. Below are key requirements:

• Academic: 3.0–3.6 GPA; GMAT (avg. 700) or GRE (optional at many schools).
• English Proficiency: TOEFL iBT: 80–100; IELTS: 6.5–7.5.
• Supporting Documents:
• • 2 academic and 1 professional Letter of Recommendation (LOR).
  • Statement of Purpose (500–800 words).
  • Official transcripts, updated CV, portfolio, valid passport.
  • US F1 student visa.

USA Student Visa Requirements

International students require an F1 visa, supported by:

• Academic transcripts, DS-160 confirmation, SEVIS fee receipt.
• Standardized test scores (if applicable), passport, recent photo.
• Proof of financial support and Form I-20.

Costs of Studying Masters in Accounting in USA

Pursuing a Masters in Accounting in the USA entails substantial expenses, mainly regarding tuition and cost of living. Yearly tuition can vary significantly, from around $5,600 to more than $84,000, based on the university's reputation and its status as public or private. Expenses for living accumulate as well, generally falling between $20,000 and $25,000 annually. 

Tuition Fees

Tuition fees vary widely, ranging from 5,612 to 84,874 USD (₹4.67–₹70.67 lakhs) per year. For example:

• UPenn: 84,830 USD (1st year).
• NYU: 62,250 USD.
• Columbia: 54,144 USD.

Cost of Living

Living costs in the USA for international students generally fall between ₹20–25 lakhs ($24,000 - $30,000 USD) each year, although this can differ greatly depending on the area and personal habits. A summary of typical expenses: 

Scholarships for International Students

To offset these significant costs, international students pursuing a Master's in Accounting in the US have several avenues for financial aid, primarily through various scholarships:

Placements & Salaries

Graduates of Masters in Accounting in the USA enjoy strong employability with an average salary of 79,000 USD (₹65.80 lakhs). Common roles include:

Top employers include EY, PwC, Deloitte, KPMG, JP Morgan, and Citi, with entry-level salaries at “Big Four” firms around 85,000 USD (₹70.80 lakhs).

Return on Investment (ROI)

The program offers a high ROI, with graduates earning significantly more than the cost of education. For example, NYU’s tuition (62,250 USD) is offset by salaries up to 149,000 USD, making it a worthwhile investment.

Conclusion

A Masters in Accounting in USA is a gateway to a rewarding career in finance and accounting. With top universities like UPenn, NYU, and Columbia offering world-class programs, students gain access to cutting-edge education and global networks. The high earning potential, with salaries averaging 79,000 USD and reaching up to 149,000 USD, ensures a strong return on investment. Despite the high costs (tuition and living expenses totaling ₹25–95 lakhs), scholarships like Fulbright and Inlaks ease the financial burden. 

With a 4% job growth projection and opportunities at top firms like Deloitte and KPMG, this degree promises both professional success and global recognition for international students.

Frequently Asked Questions

Que1. What are the top universities for Masters in Accounting in USA?

Ans: UPenn (8), NYU (10), Columbia (11), University of Michigan (32), and Ohio State (73) are top-ranked for Accounting and Finance (QS WUR 2024).

Que2. How much does a Masters in Accounting in USA cost?

Ans: Tuition ranges from 5,612–84,874 USD (₹4.67–₹70.67 lakhs) annually, with living costs around ₹20–25 lakhs per year.

Que3. Is GMAT required for Masters in Accounting in USA?

Ans: GMAT is optional at many universities like NYU, Columbia, and University of Dallas, especially for students with a 3.0+ GPA.

Que4. What is the average salary after Masters in Accounting in USA?

Ans: Graduates earn an average of 79,000 USD (₹65.80 lakhs) annually, with top roles like Tax Manager earning up to 105,681 USD.

Que5. Are scholarships available for international students?

Ans: Yes, scholarships like Fulbright, Inlaks (up to 100,000 USD), and AICPA (3,000–10,000 USD) support international students in the USA.