Possible career paths for MBA graduates with an accounting specialisation

Careers in the financial services industry can be exciting, varied, meaningful, secure, and highly lucrative. According to data from the U.S. Bureau for Labor Statistics (BLS), employment in business and financial occupations is projected to grow faster than the average for all occupations from 2022 to 2032, with the median annual average salary also higher than the average for all occupations.

Whether you’re looking to launch your own business or succeed in finance-related roles in existing organisations, having an advanced, working knowledge of money matters is critical – which is where a specialist MBA can make a real difference.

Which MBA degree specialisation is best for career opportunities in accounting?

Master of Business Administration (MBA) programmes are designed for mid-level career professionals seeking to develop their business acumen and skills in order to advance in their careers. While all MBA degree programmes cover fundamental business topics – including marketing, leadership, organisational management, strategy, supply chain management, economics, and entrepreneurship – some provide opportunities to specialise.

If your career aspirations lie within the accounting and financial services industry, programmes such as MBA with Accounting or MBA with Finance can enable you to gain the specific skills you need to land your dream role.

Opting for an MBA with Accounting or Finance provides a number of valuable advantages:

·   Highly relevant course and curriculum content – from financial reporting to auditing to taxation to accounting principles

·   Professional accreditation and certification – depending on the individual nature of your chosen programme

·   Industry and networking opportunities – enabling you to further develop your professional network within the accounting and wider financial services sector and create job opportunities, business partnerships, knowledge-sharing, and mentorship opportunities.

Is an MBA with Accounting programme right for me – and what financial skills will I gain?

If you’re interested in helping organisations and individuals keep track of financial matters, make sound investment decisions, use financial data to drive decision-making, and safeguard their overall bottom line, a career in financial services or accounting might be the perfect choice. Plus, if alongside financial expertise you’d like to extend your broader business knowledge, a specialist MBA offers the ideal combination.

Building on your existing knowledge of financial accounting principles, you’ll gain advanced, specialist skills and know-how such as:

·   reviewing, analysing and auditing financial statements and financial reports

·   expertise in regulatory, tax, and economic policies

·   financial analysis

·   advanced knowledge of accounting control structures and accounting information systems

·   forecasting, budgeting, and evaluating financial performance

·   advanced investment and financial decision-making

·   accounting standards for diverse entities – such as government or nonprofit

·   optimizing resource allocation, identifying cost-saving opportunities, and driving long-term business sustainability, growth and profitability

·   determining and controlling expenditure

·   supporting business to make financial decisions in line with strategic goals.

You’ll need to have at least two to three years of professional work experience in industry behind you to successfully gain entry onto your MBA programme of choice – which may affect whether this type of master’s degree is right for you.

Plus, accounting skills alone may not be enough to set you apart in today’s highly competitive job market. With the other, highly transferable, in-demand skills and attributes you’ll gain from your MBA – from interpersonal skills to critical thinking to leadership – you’re increasing your employability and growing as a well-rounded financial services professional.

Does an MBA with Accounting degree contribute towards CMA or CPA status?

Depending on your individual career goals, you may be interested in gaining Certified Management Accountant (CMA), Certified Public Accountant (CPA), or Chartered Financial Analyst (CFA) certification.

Some business administration degrees that specialise in accounting enable MBA students to take the required managerial accounting or financial accounting courses – that contribute towards the professional examinations – during their studies. However, many other students apply for the CMA or CPA examinations following completion and graduation from their MBA. This will depend on the individual university, business school, or training provider, so make sure to do your research.

Some financial services employers – for example, the ‘Big 4’, EY, KPMG, Deloitte, and PwC – may offer to fund or subsidise an MBA qualification once you are in post, as well as pay for professional certification examinations.

What are the top career paths for an MBA with Accounting graduate?

An MBA with Accounting degree can lead to a wide variety of roles and career options, including:

·   accountant – including chartered accountant, management accountant, tax accountant, and public accountant

·   auditor

·   financial planner

·   financial analyst

·   personal financial advisor

·   finance manager/financial manager

·   accounting manager

·   chief financial officer (CFO) – with further experience

·   budget analyst.

There is plenty of room for progression, particularly, for example, if you want to work in accounting departments and roles within firms such as the Big 4. Your advanced level of study, knowledge and experience will mean you’ll be well placed to land senior managerial and leadership positions within the financial sector.

And that isn’t where the job opportunities end – far from it. As you’ll have gained business, management and leadership expertise throughout the course of your studies, you could also choose to work in more general business-related roles such as management analyst, operations manager, business development manager, entrepreneur, chief executive officer (CEO), project manager, marketing manager, and human resources manager.

Plus, as finances are a core aspect of business management, your skills will be transferable across every industry, spanning private, public, and third-sector organisations.

Give yourself a competitive edge in the fast-paced financial services industry

Prepare to land senior leadership management positions – and develop advanced knowledge of business accounting – with St Mary’s University’s online MBA with Accounting programme.

Study as you like, when you like, with our 100%-online, highly flexible MBA programme. Realise your accounting goals through specialist modules including cost accounting, managerial accounting, and financial statement analysis. Broader business-related modules will cover topics such as business intelligence, business operations, marketing management, people development, international strategy, finance for managers, and much more. Across your studies, you’ll also develop key communication skills, leadership skills, critical thinking and strategic decision-making skills to enable you to guide businesses to achieve their goals.