Average Salary with a Masters in Taxation Degree

Going back to school to get your master’s degree in taxation or a related field may be required if you are interested in furthering your accounting career. In some states, you will need a master’s degree to become a CPA. But is going back to school for a master’s degree in taxation worth your time and money? Let’s look at the salary information you can expect in this field.

Masters in Taxation Average Salary

In general, you can expect to earn 5% to 10% more if you have your master’s degree versus having just a master’s degree in any field. With a master’s degree in taxation, this translates to earning $60,000 to $120,000 annually, depending on your job title, location, and experience. According to the Bureau of Labor Statistics, one of the highest paid positions you can take in this field once you have a master’s degree is a Financial Manager, where the median annual salary is $117,990 (BLS.gov). In addition, once you have experience in the field of accounting, you can become a partner in an accounting firm or even start your own firm. The sky is the limit when it comes to earning potential as a partner or owner at a professional firm, especially in city locations.

Average Salary by Location

You’ll likely earn more as a CPA or in a related job field if you live in a large metropolitan area, such as New York City or Los Angeles. In addition, you can earn more by working in a state where workers in this field are in higher demand. According to BLS.gov, the District of Columbia has the highest average salary for certified public accountants and auditors. Keep in mind that in locations where you’ll earn more, cost of living is usually higher, so the highest salary doesn’t always mean it is the best financial decision in terms of a job.

Masters in Taxation Education

Getting your master’s degree in taxation typically takes two to three years, and your course will prepare you to take the CPA exam, which has multiple parts and covers a number of accounting topics. Your classes will also prepare you to work in related fields, so becoming an auditor, government worker, or something else related is also an option.

Sponsored Masters in Accounting & Taxation Degrees

Kaplan University MS in Accounting Kaplan University › An MS in accounting from Kaplan University teaches its grad students to critically understand and hone problem-solving skills while urging its students to strive for mid- to senior-level positions in the field of accounting. The degree is designed to enrich skills in auditing, taxation, cost accounting, and financial accounting while providing students the opportunity to choose elective courses to meet their specific interests and goals.
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Liberty University MS in Accounting Liberty University › Liberty's Master of Science in Accounting focuses on leadership and its application to both national and international accounting practices. Students are expected to develop oral and written competencies in particular to accounting contexts and will exhibit mastery with current research methods and academics relevant to accounting, auditing and taxation. This 30-hour program can be completed in one to two years and may enable students to meet the 150 hours required to sit for the CPA exam.
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Walden University MS/Accounting: CPA Walden University › The Master in Accounting with a CPA Emphasis endeavors to provide a balanced curriculum to allow its student to be prepared to take the CPA Examination. The classes emphasize the use of analytical and critical-thinking skills while you explore the latest regulations, trends, and issues shaping the accounting industry. The degree provides an understanding of risk management, the impact of regulatory compliance, and emphasizes how accounting practices and tax strategies are critical to business and your vocation.
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