MBA Jobs: Accounting Manager
If there is one thing that unites all businesses, whether they are Etsy storefronts or multinational conglomerates, it’s that everyone needs to know how much money it has coming in and where it is going. At large companies and firms, this responsibility falls onto accounting managers. If you are someone with an eye for detail who knows their way around a budget, you might be an excellent fit for this job.
What Is an Accounting Manager?
The accounting manager is, largely, the head of a company’s accounting department. With the assistance of a small staff, the accounting manager keeps track of an organization’s finances and makes sure that the organization is following all necessary financial laws.
Accounting managers prepare reports for executives, letting them know where they are in relationship to their monthly, quarterly, and annual goals. Accounting managers also help to forecast the company’s financial future.
The following represent a few key responsibilities of accounting managers:
- Conducting audits
- Planning annual budgets
- Evaluating financial data
- Defining accounting policies
- Establishing financial standards
Accounting Manager Salaries
According to Glassdoor data, the average annual pay for an accounting manager is $88,160. Accounting managers can also earn an average of $8,426 in cash compensation. Compensation can range from $2,120 to $23,206, depending on the company, background, and academic experience. This generally translates to higher salaries for MBA grads.
For instance, accounting managers at EY (Ernst & Young) will likely earn over $100,000 on average, according to PayScale data.
Where Do You Start?
Candidates for accounting manager positions must have at least a BA/BS in Accounting or Finance. Most positions require candidates to be licensed Certified Public Accountants, or CPAs. This is not an entry-level position; businesses generally expect candidates to have had some previous supervisory experience.
Given the nature of this position, ideal candidates are ethical and able to think critically. Small errors can cost either a client or a firm a considerable amount of money, so it is essential that accounting managers are thorough in their work, always ensuring that their records are accurate and complete.
In addition to the technical skills, accounting managers need to have excellent written and interpersonal skills, because they are required to manage staff, which entails interactions with a wide variety of people.
One way to gain the skills needed for this position is to get a MBA from a top-notch program. We’ve outlined three programs, which provide the skills needed to be a successful Accounting Manager that stands out from the pack.
University of Texas’s McCombs School of Business
The McCombs School of Business at the University of Texas at Austin is home to one of the country’s finest accounting programs. Students can gain considerable accounting knowledge while expanding their management abilities. They will be able to do this while living in Austin, one of the country’s most livable cities.
University of Illinois – Urbana-Champaign’s Gies College of Business
Students in the Gies College of Business at the University of Illinois can develop their financial skills in the college’s flexible MBA program. The training will prepare graduates to take on the role of accounting manager at firms of any size.
Brigham Young University’s Marriott School
Among the top business schools in the United States, the Marriott School at Brigham Young University does not get its fair share of attention, which is unfortunate as it is home to one of the country’s top accounting programs. MBA students can go on the Finance track, which will prepare them for their futures as accounting managers.
3 Essential MBA Essay Question Tips
For many applicants, the MBA essay question is the single most terrifying and challenging part of the entire MBA application. More than your GMAT, GPA, or resume, the essay is extremely personal. The admissions committee uses it to get to know who you are, what you want, and how you’ll fit. And that’s a lot of pressure.
To succeed in your MBA essay, you have to know who you are well enough to paint a comprehensive picture that the admissions committee will keep reading until the last word. You want your story to be interesting, to answer the essay prompts, and to demonstrate “why you.”
And though every school has different MBA essay prompts, three essential elements are always vital. Continue reading…
Business School Experts on the Glass Ceiling, and More – Chicago News
Let’s explore some of the most interesting stories that have emerged from Chicago business schools this week.
Here’s a Better Way to Schedule Surgeries – Kellogg Insight
Northwestern Kellogg Associate Professor of Operations Chaithanya Bandi and McCombs’ Diwakar Gupta recently published new research that focuses on how hospital administrators can optimize operating room schedules “while still satisfying surgeon needs.”
According to the article, “the researchers developed an innovative algorithm to improve OR operations, minimizing the number of ORs hospitals had to keep open, while still honoring surgeon requests,” which can drive savings of anywhere from 10-25 percent in OR costs and “lead to lower healthcare costs and thus lower insurance premiums.”
Bandi explains, “In healthcare settings, these kinds of savings don’t translate immediately to consumers. But better utilization of OR capacity helps the hospital see more patients in a shorter period of time, with lower rejections or delays for surgery requests.”
Bandi hopes to apply an “algorithm similar to the OR-optimization model to help data centers improve project efficiency. “Projects like these can take hours to run and incur very large energy costs. By some estimates, as much as 12% of the world’s total energy goes toward these projects.”
You can read more from Kellogg Insight here.
The Glass Ceiling: Three Reasons Why it Still Exists and is Hurting the Economy – Chicago Booth News
In a new working paper entitled “The Glass Ceiling,” Chicago Booth Professor Marianne Bertrand outlines three factors “why the glass ceiling persists in excluding women from top-paying jobs.”
- Women with college degrees often choose to work in fields that offer lower incomes.
- Psychological differences between men and women could account for up to 10 percent of the pay gap.
- The demands for child care, housework and other life chores outside of work fall more heavily on women than on men.
She explains, “In a world where talent is distributed equally among women and men, an economy that does not fully tap into the leadership skills offered by women is necessarily inefficient. Talent is left on the table when women are not placed in leadership positions, and the economy suffers.”
Chicago Booth Professor Marianne Bertrand
You can read more from Chicago Booth News here and check out “The Glass Ceiling” here.
‘We All Lose’ in Trade War, Says Gies Business Professor – Gies College of Business News
The University of Illinois Gies College of Business blog spoke with Professor of Finance Don Fullerton to understand the potential long-term ramifications of recent trade tensions between the U.S. and China.
The U.S. recently announced 10 percent tariffs on $200 billion of Chinese goods [like] industrial machinery parts, food seasonings, and network routers, while China countered with tariffs on $60 billion worth of American meat, chemicals, and clothes, which are set to increase to 10-25 percent by the end of the year.
“There’s going to be significant costs to bear. A lot of economists were arguing strongly against a trade war because in the long run we all lose. We’ll end up paying more for all kinds of goods. We’ll pay more for domestically-produced goods because we don’t get to buy the cheap imports anymore. And the goods we do import, we’ll pay more for because of the tariffs.”
You can read the Gies College of Business News here.
McCombs School of Business Announces Upcoming MBA Deadlines
The newest batch of University of Texas MBA deadline dates have been announced for the McCombs School of Business, going in to the 2018-19 academic season.
Round One
Deadlines: October 9, 2018
Notifications: December 19, 2018
Round Two
Deadlines: January 8, 2019
Notifications: March 28, 2019
Round Three
Deadlines: April 2, 2019
Notifications: May 9, 2019
Head over to the official UT McCombs website for more application information.
The Energy Initiatives at the McCombs School of Business
The United States is a leader in the production and supply of energy. It’s also one of the world’s largest energy consumers. And as the world’s population grows and the industrialization of the underdeveloped world continues, energy demand is expected to surge. In fact, 50 percent of U.S. capital expenditures in the coming years are expected to be energy related: power plants, transmission, oil and gas rigs, pipelines, etc.
The University of Texas at Austin McCombs School of Business is leading the charge to prepare business leaders to navigate these challenges and energy initiatives. Continue reading…
What Are The Best Houston Marketing MBA Programs?
While Houston is perhaps more famously known as the communication hub for America’s astronauts, the sprawling city’s opportunities extend far beyond NASA. The Houston metro is home to half of the Fortune 500 companies in Texas and is ranked third among metro areas in Fortune 500 headquarters.
Renowned for its affordable cost of living and multitude of job opportunities, Houston also tops Forbes’ list of America’s coolest cities. Its favorable business landscape makes it an attractive option for anyone looking to pursue a career in marketing.
The Best Houston Marketing MBA Programs
McCombs School of Business – University of Texas at Austin
The McCombs School of Business offers a marketing specialization to its full-time MBA students. U.S. News rates McCombs as one of the top schools in the country to earn a Marketing MBA. At McCombs, a concentration in marketing will not appear on a student’s diploma, but will rather provide a roadmap for prioritizing courses. The flexibility of McCombs’s curriculum allows students to tailor their education to their career goals. McCombs focuses on training students to think critically and understand the complexities of managerial decision-making. According to Forbes, about 24 percent of McCombs graduates go on to pursue jobs in marketing or sales.
Rice University – Jones Graduate School of Business
It is no secret that Rice University is one of the most prestigious schools in Texas and the Jones Graduate School of Business provides registrants the choice to earn an MBA with a marketing concentration. Students can earn up to two concentrations, making Jones the perfect option for anyone who would like to specialize in marketing, but also wishes to gain immersive experience in a complementary field within the general management program, such as accounting or entrepreneurship. Jones has a student-to-faculty ratio of 9:1, making it a fantastic option for students who prioritize small class sizes and individualized attention from the staff. The program is constantly changing, but as of right now, Marketing MBA students take four required courses and earn the rest of their credit hours through electives.
C.T. Bauer College of Business – University of Houston
The C.T. Bauer College of Business has comprehensive options for students pursuing a Marketing MBA. The program offers the opportunity to earn one of six different marketing certificates, each of which demands nine credit hours:
- Business Consulting—The business consulting track zeroes in on problem-solving and project management. This is an ideal option for students who wish to pursue a career in business and management consulting. The curriculum includes two mandatory consulting labs.
- Digital Marketing Management—In this internet age, digital marketing has become ubiquitous. Bauer’s digital marketing management certificate is sure to provide the knowledge needed to get a job in this growing field. Students must take Introduction to Digital Marketing. After that, they can choose from the following suggested courses: Social Media Marketing, Search Engine Marketing, Web Analytics and Digital Marketing Lab.
- Entrepreneurship—This is the perfect track for entrepreneurial-minded students interested in creative thinking and pioneering innovation.
- Marketing Analysis—The Marketing Analysis certification is the ideal path for those whose interests lie in the big picture thinking required to assess the market and draw larger conclusions.
- Product Management—This track is appropriate for those who want to be involved in the entire marketing lifecycle of specific products.
- Sales Leadership—The Sales Leadership curriculum will empower students to inspire and seize growth opportunities for their future clients.
Cameron School of Business – University of St. Thomas
The Cameron School of Business MBA program provides nine concentration options, including marketing. CSB’s MBA requires 27 hours of the standard core business classes, including Marketing Management and Ethical and Moral Business Management. Additionally, students will devote nine credit hours to electives. To earn their elective credits, students can choose three of the following courses: Marketing Applications and Research, Seminar in Marketing, Global Marketing, E-Business Strategies, Entrepreneurship and Sourcing Management.
