Do You Need a Master’s to Be a CPA in Your State?

CPA licensure is the gold standard in accounting. With it, you can change the entire trajectory of your accounting career, opening doors to higher-responsibility work in audit, tax, advisory services and financial leadership. But the path to earning that credential isn’t always clear, as it varies significantly depending on where you plan to practice.

While you do not need a master’s to be a CPA, there’s an important nuance to that quick answer. It all depends on how your state defines eligibility and how you choose to complete the educational requirements.

For many candidates, graduate accounting education becomes more than a credentialing step. Continue reading to learn how CPA requirements work, the “150-hour rule,” the differences between a master’s and a CPA, and how a master’s degree or CPA can fit into your goals.

Do You Need a Master’s to be an Accountant vs. a CPA?

Technically, no state explicitly requires a master’s degree for general accounting work or CPA licensure.

For a career in accounting, most employers are looking for a bachelor’s degree. However, nearly every state requires CPA candidates to complete 150 credit hours of education.¹

These hours go beyond the threshold of what you would receive over the course of your bachelor’s education. As a result, it’s common for aspiring CPAs to pursue graduate accounting education to satisfy licensure requirements while simultaneously strengthening the technical and analytical skills that potential employers increasingly expect.

Accounting has evolved far beyond traditional reporting and compliance functions. Today’s CPAs are expected to navigate data analytics, enterprise risk, regulatory complexity and financial decision-making.

Master’s in Accounting vs. CPA: Understanding the Relationship

Instead of thinking of a CPA vs. a master’s in accounting as competing credentials, consider them complementary. They are closely connected, although they serve fundamentally different purposes.

A master’s degree is an academic credential that deepens technical accounting knowledge and expands strategic business capabilities. A CPA is a professional license issued by a state board of accountancy. It demonstrates that an individual has satisfied specific education, examination and experience requirements.

What a Master’s Degree Provides

A master’s degree can help accounting professionals build the technical depth and strategic perspective needed for more advanced roles. While you don’t need a master’s to be an accountant, graduate education can expand what is possible over the course of your career.

A Master of Accounting program may help you strengthen advanced accounting knowledge, prepare for CPA education requirements, improve analytical decision-making and develop leadership skills. For professionals seeking growth in accounting, finance, or advisory work, a master’s degree can provide both practical preparation and long-term career value.

What a CPA License Provides

CPA licensure signals advanced technical expertise, professional credibility and a high standard of ethical and financial competency. In addition to supporting long-term career advancement and earning potential, the CPA also grants its holder the authority to perform audits, issue financial opinions for public companies and represent clients before the IRS.

Navigating the 150-Hour Rule and State Requirements

The first state to adopt the 150-credit-hour requirement was Florida in 1983.² Five years later, the American Institute of Certified Public Accountants recommended it nationwide, but it wasn’t until 2015 that all 50 states made it mandatory.

The reason for its institution is threefold:²

1. There was a desire to more closely align with the academic rigor required of other licensed professions, such as law and medicine.
2. The accounting profession was growing in complexity.
3. A unified requirement would allow CPAs to change jurisdictions more easily.

State Licensure Requirements

While there are national organizations, such as The National Association of the State Boards of Accountancy (NASBA), that maintain guidelines and consistency for the CPA exam, each state or territory has its own Board of Accountancy that sets CPA licensure requirements at the state level.

In general, CPA candidates must complete:

• A bachelor’s degree: typically 120 credit hours³
• 150 total credit hours of education
• A state-specified number of accounting and business course credits
• Passing all four parts of the CPA examination
• Relevant professional experience requirement

For example, in Virginia, where many William & Mary students and alumni live and work, CPA candidates must complete an ethics course and exam approved by the Virginia Board of Accountancy. However, the credit hours and content vary by state.²

Additionally, some states allow you to sit for the exam with 120 credits but require 150 for actual licensure.²

However, because licensure standards can change periodically, candidates should verify requirements through their state board of accountancy before determining the pathway that is right for them.

Why Earn a Master of Accounting Instead of Just Extra Credits?

While candidates can satisfy the 150 credit-hour requirement through several educational pathways, many working professionals pursue graduate education because it offers both efficiency and long-term career value.

A Master of Accounting program provides a structured pathway toward CPA readiness, with flexibility that allows professionals to continue working while managing existing responsibilities, such as family or military service, as they pursue their master’s.

Career Acceleration

For experienced professionals, graduate education can also provide opportunities to hone their accounting toolset and skills such as data interpretation, which are increasingly shaping the future of accounting.

The more complex nature of the CPA’s role is another major reason why candidates pursue a master’s degree. Today’s accounting professionals are expected to contribute far beyond bookkeeping, tax preparation and financial reporting. They frequently advise organizations on:

• Regulatory compliance
• Internal controls
• Enterprise risk
• Financial forecasting and planning
• Data analytics

This level of responsibility requires a broader and more sophisticated skill set than traditional undergraduate and continuing education courses typically provide.

Exam Preparation

A dedicated Master of Accounting curriculum is designed with CPA readiness in mind, aligning advanced coursework with the exam’s core content areas: Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR) and Regulation (REG). When you take the exam, you must also choose one discipline.⁴ Each are focuses that you can find in most master’s programs.

Fast-Track Your CPA Licensure with William & Mary

You don’t need a master’s to be a CPA, but you should ask yourself whether advanced education makes sense for your career goals.

While a master’s isn’t the only way to become a CPA, it is the most efficient path and allows you to evolve alongside advances in analytics, automation and financial strategy.

William & Mary’s Online Master of Accounting program can help you build the technical depth, analytical confidence and business perspectives needed to keep pace with what comes next in as few as 16 months.

Schedule a call with an admissions outreach advisor to learn more about how William & Mary’s Online Master of Accounting program can support your professional goals.