Minnesota contains a wide variety of higher education opportunities in accounting, from selecting a specialization through a Master of Business Administration at the University of Minnesota, or receiving a Master of Science in Accounting through Walden University.
Many of these choices are available online, and most of the accredited programs will prepare students for various certification exams needed to further their accounting career.
Minneapolis is slightly lower paying in their accounting opportunities when looking at the national averages, but they still have salaries statewide that can reach above $90,000 per year for specialized accounting jobs and over $100,000 for managerial roles.
Online Master of Accounting Degrees in Minnesota
With Northeastern University's Online Master's programs, you can choose from 2 degrees:
- Online Master of Science in Finance: Choose from 2 tracks in Corporate Finance or Investment Finance. Complete coursework 100% online—no residencies required. Earn your degree in as few as 16 months while continuing to work.
- Online Master of Taxation: Choose from 2 tracks: Taxation of Entities or Taxation of Individuals. Graduate in as few as 16 months while learning from accomplished scholars and industry experts in taxation and business. Complete coursework 100% online - no residencies required.
Minnesota Accounting Career Summary
- Average Mean Salary for Accountants and Auditors in Minnesota: $
- Income Ranges: Top 90% Mean Salary: $ / Bottom 10% Mean Salary: $
- Employment Change: +1,930 jobs added between 2014 and 2024, an estimated average of 930 new accountant or auditor jobs in Minnesota per year.
University of Minnesota
Master of Business Administration
The Carlson School of Management provides a number of ways to complete their MBA program, including the online version that can take around two years to complete at 52 credit hours. There is not a specialization for accounting with the online program, but there are electives within accounting and finance: Financial Services Industry, Financial Statement Analysis, Financial Modeling, Managerial Accounting, and special topics within finance. Up to eight electives are needed to complete the program. There are six application deadlines throughout the year to apply for the fall and spring semesters.
Students can opt for a more structured experience if they are near the Minneapolis-St. Paul campus. There are two residencies that feature an orientation that gets the students prepared for taking the program, and there is the ability to have a condensed format with combined online and on-campus courses at night and weekends. Other academic resources available include conferences, career workshops, and networking opportunities for graduates that are looking for job opportunities. Another way to complete the program is through the part-time MBA program that has electives within the accounting field, such as Accounting and Information Systems, Financial Data Analytics, and Introduction to Taxation of Business.
Minnesota State University – Mankato
Master of Accounting
The College of Business has an MAcc degree that is offered at both their Mankato and Twin Cities campus locations. Most courses will meet weekly at night to satisfy those with daytime working needs, but there are online options available . This program prepares people for a CPA certification exam and it takes just one year to complete, making it perfect for those looking to excel in their career or they are making a job position change. This curriculum is accredited by the Association to Advance Collegiate Schools of Business (AACSB).
Students are able to joint he program during the fall, spring, or summer. For those into their final undergraduate semester of an accounting degree, they can get a head start at completing the program. A submitted GMAT score must be higher than 500, but this requirement can be waived if the student passes all four CPA sections or they had a 3.0 undergraduate GPA from an AACSB-accredited school. Students that do not have a background in accounting will be admitted under conditional acceptance and need to complete the following courses: two levels of Intermediate Financial Accounting, Individual and Business Income Tax, and Assurance Services.
Master of Science in Accounting
The online university based in Minneapolis offers an online MSA program that can prepare students for the Certified Public Accountant (CPA) exam. Not only are there traditional courses that provide basic understanding in managerial accounting and the legal and ethical issues within accounting, there is also up-to-date information with the latest laws and regulations that have been implemented, along with the latest computer software that create data-driven solutions. The curriculum is accredited by the Accreditation Council for Business Schools and Programs (ACBSP).
There are three different forms of the curriculum that can be taken: general professional, with a CPA emphasis, or customized for a certain career. For the professional pathway, there are 30 total semester credits that are split directly in half. Four of the six core credits can be completed as an alternative graduate certification. Elective examples within this path include Managing Operational and Financial Business Risks, Accounting Theory and Application, and Forensic and Advanced Auditing Topics.
Master of Business Administration
The School of Business and Technology offers an online MBA program with four different options, including a customized specialization that students can add accounting courses to the electives. The 45-credit hour program features seven core courses and three electives, with 12 credits being applicable to transfer credits if desired. Capella offers a learning format called FlexPath, which helps students complete a degree within a year at the cheapest cost. If more time is needed, then students can do so, but it will cost more money when further terms are added.
Some of the required courses in the program include Applied Business Analytics, Accounting Methods for Leaders, and a capstone project that is completed at the end of the program. This showcases all the skills learned within the program by completing a real-world business project with evidence-based solutions. Some of the admission requirements needed for the program include a Bachelor’s degree with at least a 2.3 GPA (or 3.0 recommended for FlexPath), official transcripts, and application form with fee. There are no GRE or GMAT scores needed for admission review.
Saint Mary’s University of Minnesota
Master of Science in Accountancy
The Business and Technology portion at SMU of Minnesota provides a Master of Science in Accounting program that can be completed either on-campus within the Twin Cities location, online, or a blend of the two. Admissions take place during the spring, summer, and fall, and the program can be completed between 12 to 20 months. Benefits of taking this program include preparation for the CPA and Certified Management Accountant (CMA) exams. Within Minnesota, 150 credits are required to become CPA certified.
For the online format, this will typically take 20 months to complete, but it has the flexibility to fit any professional work schedule. There are three foundational courses needed for those that do not have accounting background: Auditing, Business Taxation, and Intermediate Accounting. There are eight core courses, one elective option, and a program-ending capstone project. Elective examples include Nonprofit and Government Accounting, Human Resource Management Strategy, and Foundations of Project Management.
Accreditation Options in Minnesota
The AACSB accreditation is the most common form of certification for Master’s degrees. Regardless of what higher education program you pick, the business school will stand out from the competition and employers will know that you have succeeded in completing a rigorous curriculum. There are some other associations that will also demonstrate a strong program to graduate from.
Accreditation Council for Business Schools and Programs (ACBSP)
The ACBSP was founded in 1989 and is based in Overland Park, Kansas. They have been recognized by the Council for Higher Education Accreditation (CHEA) since 2001 and serves as an alternative to the AACSB with observing all different levels of postgraduate education. They are becoming more known within accrediting online programs and over 1,000 campuses have been given the accreditation status.
International Assembly for Collegiate Business Education (IACBE)
Another association gives an overview of various higher-level degrees within the business field and has accredited over 230 schools from over 20 countries. These programs are also on different levels, such as associate and bachelor degrees. Located in the Kansas City area, similar to the ACBSP, they are also recognized by the CHEA. Some evaluations they consider are the schools’ strategic planning, how strong and innovative the curriculum is, and what resources they offer their students.
Career Opportunities in Minnesota
Minneapolis, one of the most populated cities in the United States, has a large segment of jobs available in the state Minnesota within accounting and finance. Popular companies offering opportunities in the area according to Indeed include Wells Fargo, Deloitte, and US Bank. There are a wide variety of positions at Wells Fargo, such as strategy consultants, financial accounting, tax accountant, and lending managers. All of the Big Four accounting firms have prominence in Minneapolis, with Deloitte having the most metro employees among them according to the Minneapolis/St. Paul Business Journal.
According to Salary.com, the average amount a mid-range accounting employee makes in the state of Minnesota is between $73,124 to $89,552. This number can jump well above $90,000 for more specialized opportunities, like cost accountants and financial accountants. Within Minneapolis, the salary is around $58,245 per year when taking all opportunities under consideration, which is one percent below the national average according to Glassdoor. Those numbers are seven percent below when looking at accounting managers with an average of $82,757 annually. While the numbers are slightly lower than average, it can reach up to $79,000 and $110,000 respectively.