Education plays an important role in planning a career in finance. How much education you have can impact your career path, your ability to get interview requests, and your ability to compete with other candidates.
After working to get your undergraduate degree in accounting or finance, you will come to a crossroads – more school or enter the workforce?
It may be tempting to start working and making money, but an extra year could help you make more money long term. Do you start working right away after you get your bachelor’s degree? Do you opt to work on getting certification or perhaps a postgraduate diploma? Or do you commit to getting your master’s degree?
While your need for a master’s degree will vary based on your career path and goals, it can have a big impact on your overall earning potential.
“It’s no secret that a master’s degree is a big investment. On top of the out-of-pocket expense, you’ll forego income if you attend full time. But it can also be an excellent way to accelerate your current track or change careers,” says Jeff Kauflin on Forbes.
PayScale recently compared the master’s degrees that led to the highest earning potential for new and mid-career levels. Finance and accounting-related degrees took 3 of the top 10 spots on the list. They include:
In the above cases, it does pay to stay in school the extra year or two and invest your time and resources into getting a master’s degree.
Navigating your career in accounting and finance can be a challenge. Check out these additional blog posts to gain some valuable insights:
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Stephen is a Partner and Practice Lead in the Accounting and Finance group. In 2011 Stephen purchased The London Group, and over the next several years built a small team and became a go-to recruiter for several mid-sized accounting firms. In 2016 the London Group merged with IQ PARTNERS, allowing Stephen to grow his accounting and finance recruitment practice under the umbrella of IQ PARTNERS.