Career Paths for Master’s in Taxation Graduates
- Tax Manager
- Assistant Professor
- Chief Financial Officer
- Financial Manager
- Certified Public Accountant
Those who have earned a Master’s in Taxation may qualify for jobs in a variety of environments, from those in education to those in the corporate world and within government agencies. A graduate degree in tax is an excellent option for those interested in becoming a CPA, as well as those who want to climb the ladder of success to positions at the executive level. Here are five great careers for a Master’s in Tax graduate.
Resource: Top 15 Online Masters in Taxation
1. Tax Manager
Tax reporting and planning falls under the responsibility of a tax manager, who must not only oversee a client or company’s tax plan, but create that plan so that it complies with all local, state, and national tax laws. To become a tax manager, it’s recommended that a student first earns a bachelor’s degree in an area like accounting, finance, or business administration and then continue into a graduate degree in tax, accounting, or tax law. Achieving status as a tax manager may also require four to ten years of experience at the entry or associate level.
2. Assistant Professor
Tax professionals who want to teach may consider a Master’s in Taxation to allow them to teach in higher education within community colleges or universities. Not only must college professors teach tax classes, but they must also advise students, participate in campus committees, and work in collaboration with other faculty and students. While earning a doctorate is one option for gaining the experience required to teach at the university level, a student doesn’t absolutely need to earn a doctorate and may begin teaching once a graduate degree in tax has been earned.
3. Chief Financial Officer
A Chief Financial Officer (CFO) is a member of the executive team within business and will work with the Chief Executive Officer and Chief Operating Officer to manage all aspects of the organization’s budget, financial forecast, and cost-benefit analyses. In most cases, a CFO must obtain a graduate degree in accounting, tax, or business administration or gain at least ten years of experience in the field to qualify. A CFO may need to handle everything from maintaining relations with auditors to ensuring that tax and financial records kept at the company meet government requirements.
4. Financial Manager
Work as a financial advisor or financial manager is available to those with graduate degrees or several years of experience in a financial occupation with a job title like accountant, financial analyst, or auditor. The Bureau of Labor Statistics (BLS) reveals that financial managers make an estimated median pay of more than $125,000 a year, which places them near the top of the earnings spectrum for management-level occupations where the employee has a specialty. The majority of financial managers work in finance, insurance, or manufacturing, as well as for government agencies and services that provide professional, scientific, and technical support to clients or customers.
5. Certified Public Accountant
It’s possible to become an accountant after earning a bachelor’s degree in accounting, but elevating one’s self to the level of Certified Public Accountant (CPA) often requires additional time spent in higher education. It’s not uncommon for graduate degrees in tax, accounting, and auditing to provide students the credit they need to qualify to sit for the CPA exam, which is given by the American Institute of Certified Public Accountants (AICPA). More than 431,000 people working around the world are part of the AICPA, and these professionals often earn higher wages because of their certification and their need to complete continuing professional education each year.
Not only can a graduate degree in tax increase the number of jobs available to the tax professional, but it can also offer a career option that will benefit from steady growth and importance. Compliance with tax laws has become one of the most important facets of modern business administration, and a Master’s in Taxation may qualify a graduate for these and many other great careers in business.