CPA vs MBA: Which is Better For Your Career & Salary? 2020 Update

Good MBA programs from state schools are helpful if you are looking for jobs in your region. Plus, you will probably be able to network with future colleagues in the region while you’re still in school, which will enhance your chances of getting a great job after graduation. Of course, strive to get into one of the “Top 10” MBA programs or the highest-ranked program that you can. Not only will you get a great education from these schools, but you’ll also gain a certain prestige that will follow you in your career. To become a full member of AICPA, the applicant must hold a valid CPA certificate or license from at least one of the fifty-five U.S. state/territory boards of accountancy; some additional requirements apply.

Can You Earn Both a CPA and an MBA?

Founded in 1887, the AICPA is a professional organization of Certified Public Accountants (CPAs) in the United States. If you want to become a Certified Public Accountant (CPA), one of the biggest obstacles you will face in the pursuit of your CPA license is passing the professional credentialing exam. The four-part Uniform CPA Examination, developed and scored by the American Institute of Certified Public Accountants (AICPA), is notoriously difficult. The AICPA and CIMA membership bodies remain and provide all existing benefits to members. We are the American Institute of CPAs, the world’s largest member association representing the accounting profession. Today, you’ll find our 431,000+ members in 130 countries and territories, representing many areas of practice, including business and industry, public practice, government, education and consulting.

A Certified Public Accountant (CPA) is a financial accreditation awarded by the American Institute of Certified Public Accountants (AICPA).
Before you can enter into a CPA program, you will need to complete a bachelor’s degree in accounting, finance, or business.
The average CPA salary is approximately $109,000, marking a significant premium over non-certified accountants.

Tuition Fees

Yeshiva University has engaged Everspring, a leading provider of education and technology services, to support select aspects of program delivery. Let’s explore these options together, simplifying your decision-making process and bringing clarity to your future career possibilities. According to Salary.com, a controller with an MBA in accounting can earn up to $197,000 per year. Tax examiners and collectors work most often with state, local and federal government to determine how much people and organizations owe in taxes. They review their tax returns, do audits, determine taxes that are owed and collect overdue tax payments. One month before the CFA exam, preparation and prudent study routines will have the potential…

Time investment is another key factor – while the CPA path typically takes several years, you can complete the Sy Syms Customized Online MBA in as little as 24 months while keeping your full-time job. Beyond the financial benefits, the professional growth, leadership development and career opportunities that come with an MBA can meaningfully accelerate your career trajectory. For those aiming to maximize their career potential, pursuing both a CPA and MBA can be a game-changer. On the other hand, if your ambitions include leadership positions such as management consulting, investment banking, or becoming a CFO, an MBA degree might better align with your goals. An MBA provides a broader skill set in business management, financial planning, and corporate strategy, preparing you for diverse career opportunities. Deciding between a CPA and an MBA often depends on your long-term career goals and the time and financial resources you’re willing to invest.

Career Opportunities with a CPA

cpa vs mba salary

The CPA involves a rigorous exam and specific accounting-focused education and experience requirements, making it challenging. An MBA’s difficulty varies by program but is generally more academically broad and less exam-focused. Reach out to Xylem Learning, and their professionals will help you figure out which is more suitable for you. Today, financial managers focus more on data analysis and business analytics. Their main job is to advise managers on how they can increase profits and drop costs.

CPA vs MBA: Certification Costs

CPAs often pursue careers in accounting, auditing, and finance, with potential roles like CFO. MBAs have broader opportunities in various business sectors, including management, consulting, and leadership positions. If you have a specific interest in accounting, you may want to earn the MBA in that field.

The CPA certification aims to ensure that accounting professionals possess the necessary knowledge, skills, and ethical standards to protect the public interest. CPAs are recognized for their role in enhancing the reliability of financial statements, which is crucial for investors, regulators, and the overall functioning of the economy. This graduate-level degree builds your leadership and business management skills. Typical MBA courses include accounting, economics, finance, leadership development, and marketing.

In corporate settings, CPAs take on roles such as financial analyst, controller, or chief financial officer (CFO), driving financial management and strategic decision-making.
Both a CPA and an MBA will qualify you for a higher-than-average entry-level salary.
Choosing the right credential is a pivotal decision that depends on your personal goals and industry aspirations.
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It can significantly increase your career flexibility, salary potential, and leadership opportunities.

Where Do CPAs and MBAs Work?

When comparing MBA vs CPA salary potential, consider both starting salaries and long-term earning potential. The costs for obtaining a CPA include undergraduate tuition, CPA exam preparation (around $2,000), exam fees (approximately $1,500), licensing fees, and ongoing costs for Continuing Professional Education (CPE). For an MBA, the costs include tuition fees (ranging from $30,000 to $100,000 per year), books and materials, technology fees, living expenses, and cpa vs mba salary the opportunity cost of foregone salary if studying full-time.