MBA vs. Master’s in Accounting: Salary & Career Outcomes

Advanced degrees, such as an MBA or a master’s in accounting, are excellent ways to boost your skill set and put you on a pathway toward an increased salary and stronger career potential.

If you’re embarking on a finance-focused career path, the good news is that there are a wide variety of MBA finance programs and specialized master’s degrees to consider. These distinct programs offer different advantages to prospective students, but the differences between an MBA vs. a master’s in finance or accounting aren’t necessarily obvious.

The MBA is the gold standard of advanced business degrees, but it’s a broad program that doesn’t fit everyone’s preferred career outlook. A more specialized master’s in accounting potentially sees you graduate more quickly with a more specific skill set.

Read on to understand the benefits of each of these programs and to get help determining whether you would be best served by an MBA or MS in accounting.

What Is an MBA?

An MBA program, such as the Online MBA from William & Mary’s Raymond A. Mason School of Business, is designed to train future leaders and managers. The curriculum provides a grounding in the principal business functions, covering principles of finance and marketing, as well as operations, business analytics and leadership.

It’s often possible to specialize within an MBA program, focusing your studies on a particular discipline. For example, at William & Mary, the Online MBA includes specializations, such as Marketing Analytics & Insights, Corporate Finance, Investment Management and Accounting.

What Is a Master’s in Accounting (MAcc)?

While MBA in accounting programs are specialized MBAs, degrees such as the Online Master of Accounting (MaCC) program from William & Mary are more exclusively focused on accounting, without the wider interest in general business principles and leadership that you’ll find in an MBA.

A master’s in accounting focuses on specific accounting coursework, giving you skills and knowledge of processes and concepts such as auditing, taxation and financial reporting.

A well-designed master’s in accounting will also prepare you for professional certifications, such as the Certified Public Accountant (CPA) exam.

Core Differences Between an MBA and a MAcc Degree

The main difference between an MBA and an MAcc is one of breadth and depth. The MBA is a much broader curriculum and has a consistent leadership focus, while a Master’s in Accounting is much more focused on deeper technical expertise.

This difference is reflected in program duration. You can complete the William & Mary Online Master of Accounting in 16 months, whereas the Online MBA is typically a two-year program.

There are also often differences in admission requirements. For example, at William & Mary, Online MBA candidates must have a minimum of two years of professional work experience, but there is no work experience requirement for the Online MAcc.

Career Paths With an MBA

As perhaps the most versatile business qualification available, an MBA potentially qualifies you for a wide variety of career paths. These include jobs such as:

• Accounting Manager: The sort of role that might be attractive to those with an MBA in accounting, an accounting manager is typically responsible for day-to-day management of accounting and financial operations, including managing budgets and overseeing compliance¹
• Financial Analyst / Finance Manager: A finance analyst or finance manager focuses more on money management than an accounting specialist does. Responsibilities might include managing investments, analyzing trends and market forecasts and supervising staff²
• Business Consultant: A person in this role provides strategic and operational advice to a wide range of businesses³
• Operations or Strategy Manager: Strategy and Operations (S&O) combines what makes a company function today (operations) and the steps that the business is taking to guide its future performance (strategy)⁴
• Controller, CFO and other executive roles: Many MBA grads aspire to leadership positions, such as Controller—overseeing corporate accounting functions—or CFO, taking charge of the financial operations of a corporation⁵

Career Paths With a Master’s in Accounting

MAcc grads can rise to leadership roles, but their training is more focused on the specifics of accounting.

Potential career paths include:

• Auditor or Tax Specialist: Auditors review an organization’s financial records to verify accuracy and ensure compliance with tax regulations and other legal obligations⁶
• Controller or Accounting Manager: This person handles the overall accounting function and records of a company⁵
• Forensic Accountant: Part accountant, part investigator, a forensic accountant digs into accounts and financial records, looking for evidence of fraud, irregularities or evasion of regulatory obligations⁷
• CPA-track Public Accounting Roles: Public accountants work for a variety of clients, typically dealing with financial records that must be provided to the government, such as taxes or legally mandated investor information⁸
• Risk and Compliance Positions: Compliance officers monitor a company’s adherence to the regulations that govern its operations⁹

Salary Comparison

A big reason for the popularity of MBAs is that they tend to open the door to more senior roles and better compensation. The Graduate Management Admission Council (GMAC) Corporate Recruiters Survey for 2025 found the median salary for MBA grads is $125,000 per year.¹⁰ That’s the highest median salary of the advanced business degrees the survey considered.

Yet the same GMAC survey put MAcc graduates’ median salary at $92,500 per year.¹⁰ And those graduates can increase their earnings with certifications such as the CPA or CMA (Certified Management Accountant) designations.

Salaries also vary considerably based on your experience level and, potentially, the industry you work in. For example, the finance and tech industries tend to offer above-average compensation.

Maximize Your Career Potential With an Advanced Business Degree from William & Mary

The principal difference between an MBA and a master’s in accounting is one of scope. The MBA covers a broader curriculum, while the MAcc is more specialized, with corresponding differences in duration and in the range of potential careers that you might pursue after graduation.

At William & Mary’s Raymond A. Mason School of Business, the Online MBA and Online MAcc offer working professionals flexible learning options, enabling a balance between study and ongoing career and family commitments.

The average William & Mary Online MBA graduate earns $135,879¹¹—significantly more than the median MBA graduate salary of $125,000 reported by GMAC.¹⁰ And our MAcc graduates are positioned to advance their careers to the highest levels of their profession with a curriculum designed to expedite preparation for the CPA exam.

For more information about the Public Ivy experience and what it can do for your studies in business or accounting, schedule a call with one of our admissions outreach advisors.