Landing a Job After MSc Degree in Accounting in the USA
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| Landing a Job After MSc Degree in Accounting in the USA |
It is true that earning an MSc degree in accounting can help increase your chances of securing a job in the USA. However, in most cases, it is not as easy as you might think.
When discussing job opportunities, many MSc holders may be reluctant to pursue positions that do not meet their standards, given their higher degree compared to the conventional BSc. It's worth noting that many companies typically set a BSc degree as the minimum requirement for job applications.
Additionally, research indicates that approximately 9% of Americans who have earned a master's degree or higher experience a nearly 3% increase in their employability.
Certainly, in this guide, we will discuss strategies for securing employment in the accounting sector with your MSc in accounting degree.
How to Land a Job After MSc in Accountancy in the USA
Follow these tips to land a job after completing an MSc in accounting in the USA.
1. Building a Strong Foundation during your MSc Program
During your program, try to build a large network of professionals as much as possible. Who knows, you might need them in the outside world after graduation.
Don't take anyone for granted. Some of the people you will meet during your MSc program are there because they seek a higher role in their current employment or even a promotion.
The power of networking cannot be underestimated; it can open many doors for you, such as providing internship and job opportunities, and even enlightening you about industry happenings.
2. Don't forget Accounting Internships
Another aspect to take seriously is internships. Don't underestimate their importance, especially if you transitioned directly from your bachelor's degree to your master's program without prior hands-on experience in accounting.
Accept internships, even if you have a master's degree. They provide valuable experience for entering the corporate world. If you aim to practice accounting, consider applying for internships with the Big 4 accounting firms in the United States towards the end of your program.
You need to understand that in the accounting industry, no knowledge is wasted. Even small experiences that may seem insignificant can be valuable. However, it's essential to be selective to avoid wasting time on experiences that won't be beneficial to your career goals.
Here are some accounting firms in the United States that consistently rank high for internships:
- PKF O'Connor Davies
- Weaver
- Frazier Deeter
- Lumsden McCormick CPA
- Elliott Davis (ENVISION Program)
- Freed Maxick (MAX Internship Program)
- Grant Thornton
- Frank, Rimerman + Co. (Summer Internship)
- Boyer & Ritter
- Baker Tilly
3. Navigating the Job Search Process
Your job search process is important, and if not done properly, companies might still send you rejection letters and you will be wondering what's you are doing wrong.
The first step is to write an impressive CV that highlights your personal details, educational qualifications, skills, and job experience. This is your initial opportunity to sell yourself to companies, and I'm certain you won't want to mess up this stage.
On average, a single corporate job opening receives about 250 applications, according to Glassdoor. Therefore, you will need an excellent CV to increase your chances of being called for an interview.
Once you have created a strong CV that will make it hard for recruiters to ignore you, focus on mastering the art of interviews. While a good CV can get you interviews, how you handle the interview will ultimately determine if you will secure the job or not.
During the interview, articulate to your potential employers what you can do and how you will address the various challenges facing the organization.
To prepare for this, it's essential to research frequently asked questions in accounting job interviews online and learn the best ways to answer them in an impressive manner that will delight the interviewers. This preparation will significantly enhance your chances of success in this stage of the job search process.
4. Take Advantage of Professional Certifications
It's not enough to just earn a degree or an MSc in accounting; you must also ensure to obtain professional accounting certifications, especially in the United States, where you plan to work.
These certifications qualify you to become a chartered accountant, which represents the pinnacle of your accounting career.
There are several professional accounting certifications in the USA that accountants can pursue to advance their careers and increase their chances of securing employment. Some of the prominent ones include:
- Certified Public Accountant (CPA)
- Certified Management Accountant (CMA)
- Chartered Financial Analyst (CFA)
- Certified Internal Auditor (CIA)
- Certified Fraud Examiner (CFE)
- Certified Information Systems Auditor (CISA)
The Certified Public Accountant (CPA) certification is indeed the most respected accounting certification in the United States and globally. Additionally, the Certified Management Accountant (CMA) certification is also prestigious and worth considering.
5 Top Jobs For Master In Accounting Graduates
Here are the top 5 jobs that master's degree holders in accounting in the United States can consider:
1. Senior Accountant
MSc in accountancy degree holders should consider applying for the role of senior accountants in an organization because of their level of educational qualifications and the skills they have acquired throughout the years.
They will oversee accounting tasks and ensure that the accounting methods they are using comply with the law.
Some responsibilities of a senior accountant include the following:
- Preparation and Analysis of Financial Reports
- Coordination of Month-end and Year-end Close
- Contribution to Budgeting and Forecasting
- Conducting Detailed Financial Analysis
- Maintenance and Enhancement of Internal Controls
- Facilitation of External Audit Processes
- Assistance in Tax Planning and Compliance
- Identification of Process Improvement Opportunities
2. Auditor
Auditors are not your everyday accountants; they serve as financial watchdogs. I consider them special kinds of accounting professionals because they function as both detectives and accountants combined.
Their major role within an organization is to examine financial statements and ensure that they present a fair view of a company's health.
Some responsibilities of an auditor include the following:
- Examination of Financial Statements for Accuracy
- Evaluation of Internal Controls Effectiveness
- Planning and Execution of Audit Procedures
- Assessment and Mitigation of Risks
- Performing Substantive Audit Tests
- Communication of Audit Findings
- Monitoring and Resolution of Issues
- Ensuring Compliance with Regulations
3. Financial Controller
A Financial Controller, also known as a comptroller, is akin to the top accountant and financial guardian in a company. They are senior-level managers responsible for overseeing the entire financial reporting process and ensuring the accuracy of the company's financial health.
The responsibilities of a Financial Controller typically include the following:
- Preparation of Financial Reports
- Budgeting and Forecasting Management
- Analysis of Financial Performance
- Oversight of Internal Control Procedures
- Development of Financial Plans
- Management of Cash Flow
- Tax Planning and Compliance Management
- Administration of Financial Systems
4. Financial Manager
The term "Financial Manager" is used to categorize professionals who oversee the financial health of an organization, ensuring that the business remains solvent at all times to meet its financial obligations.
The responsibilities of a Financial manager typically include the following:
- Development and implementation of financial strategies.
- Creation and management of budgets.
- Analysis of financial health and performance.
- Identification and mitigation of financial risks.
- Management of investment portfolio.
- Optimization of cash flow utilization.
- Preparation and presentation of financial reports.
5. Financial Analyst
Finance professionals with an MSc degree in accounting can work as financial analysts for companies in the USA. They assist the organizations they work for by conducting research and analyzing financial data, which they use to make beneficial decisions.
The responsibilities of a Financial analysts typically include the following:
- Development and implementation of financial strategies.
- Creation and management of budgets.
- Analysis of financial health and performance.
- Identification and mitigation of financial risks.
- Management of investment portfolio.
- Optimization of cash flow utilization.
- Preparation and presentation of financial reports.
Conclusion: Landing a Job After MSc in Accountancy in the USA
Earning a master's degree from a US institution will indeed position you well to secure employment in organizations worldwide.
If you are a resident of the United States, securing a job can be both easy and challenging, depending on factors such as your grades, the network you built during your program, your interview skills, and the professional accounting certifications you possess.
If you follow the tips in this article, I can assure you that you will have a good chance of securing a well-paying job within the next 2-3 months.
