Masters Degrees in Accounting in Illinois

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Updated January 5, 2023

Looking for a Master's Degree in Accounting in Illinois? You should consider these top-tier graduate programs and jobs in the Accounting field.

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Master's Degrees in Accounting in Illinois

Earning a Master's Degree in Accounting in Illinois

Below are the rankings for the best degrees in Illinois for accounting. You can use a master's degree in accounting in a variety of settings. Master's degree-holders possess the skills needed to move forward in their field.

An individual with a master's degree typically earns $1,574 per week or about $6,296 a month and $81,848 per year. For those with master's degrees, the unemployment rate is 2.6%.

Accounting Master's Programs for You

Working and Living in Illinois in the Accounting Profession

Accounting is a common degree and offers you ample career opportunities. Accountants can work in many industries, so if you enjoy working with numbers, an accounting degree may be a good choice for you.

The average annual salary in Illinois is $46,630, or $22.42 per hour. This holds true for the state's 5,618,830 workers. The lowest 10% of earners make $24,470 a year and the highest 10% make $103,490, according to the BLS. The following lists the average earnings for accountants and auditors in Illinois.

Key

Accountants and Auditors in Illinois
Accountants and Auditors Nationally
All Occupations in Illinois
All Occupations Nationally

Salaries for Accountants and Auditors in Illinois and Nationwide

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The chart has 1 Y axis displaying annual salaries in USD.
Source: Bureau of Labor Statistics
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Among 51 states (including Washington, D.C.), Illinois ranks number 13 on the cost of living index, according to MERIC. It measures the national average cost of living against specific states. Assuming that the U.S. average is 100, all locations in the U.S. are either above (more expensive) or below (less expensive). On a 100-point scale, Illinois has a cost of living index of 91.4, which is -8.6% lower than the national average. Interested in relocating to Illinois? Use the cost of living comparison to determine the right fit for the situation.

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Source: Missouri Research and Information Center
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Over the next decade, jobs for accountants and auditors are projected to grow by 6.9%. The BLS projects the number of professionals will change from 1,392,200 in 2020 to 1,488,200 in 2030. It is common for these professionals to earn a master's degree in their field. An example of a typical job title would be:

  • Accountants and auditors
  • Account Auditor
  • Accountant
  • Auditor
  • Auditor-In-Charge
  • CPA
  • Certified Public Accountant
  • Cost Accountant
  • Field Auditor
  • Financial Accountant

Master's Degrees in Accounting in Illinois

#1 Masters Degrees in Accounting in Illinois

University of Illinois at Urbana-Champaign

  • Champaign, IL
  • 4 years
  • Online + Campus

The University of Illinois at Urbana-Champaign enrolls master's students in its flexible online program. The master of science in accountancy program helps graduates increase their salary potential and take on more professional responsibilities. Earning a master's degree can also help candidates pursue new career opportunities.

The master's curriculum covers theoretical and practical approaches to accounting, and learners prepare for focused career paths by choosing electives and concentrations. Applicants with prior experience in accounting or a related field often meet the admission requirements.

Online enrollees gain real-world experience through internships offered in their local area. On-campus students benefit from the library and gym facilities provided by many institutions. Graduate students also participate in networking events to expand their professional connections.

University of Illinois at Urbana-Champaign at a Glance:

Type of school: Public, 4-year or above

Admission Rate: 59%

Total Online Master's Programs: 30

Program name: Master of Science in Accountancy

Graduate Tuition In State: $14,997

Graduate Tuition Out of State: $28,404

Average Tuition
In-state
$14,317
Out-of-state
$33,824
Retention Rate
94%
Admission Rate
63%
Students Enrolled
52,679
Institution Type
Public
Percent Online Enrollment
96% Percentage of all students who are enrolled online.
Accreditation
Yes Higher Learning Commission

#2 Masters Degrees in Accounting in Illinois

University of Illinois at Chicago

  • Chicago, IL
  • 4 years
  • Online + Campus

The master's in accounting degree at the University of Illinois at Chicago uses a flexible distance learning format. The master of science in accounting program emphasizes advanced practice skills, training graduates for leadership roles and increasing their earning potential. A master's degree allows candidates to move up the career ladder or pursue a new career path.

The master's curriculum explores research and methodologies, and learners can individualize the program to prepare for focused careers. The master's program recommends that applicants bring a background in accounting or a related field.

Online enrollees complete internships in their local community to gain real-world experience. Many institutions provide libraries and fitness centers for students living on campus. The program encourages graduate students to expand their professional connections through internships and networking events.

University of Illinois at Chicago at a Glance:

Type of school: Public, 4-year or above

Admission Rate: 73%

Total Online Master's Programs: 8

Program name: Master of Science in Accounting

Graduate Tuition In State: $13,276

Graduate Tuition Out of State: $23,850

Average Tuition
In-state
$12,105
Out-of-state
$26,726
Retention Rate
82%
Admission Rate
73%
Students Enrolled
33,518
Institution Type
Public
Percent Online Enrollment
98% Percentage of all students who are enrolled online.
Accreditation
Yes Higher Learning Commission

#3 Masters Degrees in Accounting in Illinois

Governors State University

  • University Park, IL
  • 4 years
  • Online + Campus

The master's in accounting program at Governors State University, located in University Park, offers a flexible online format. The master of science in accounting program builds specialized skills for leadership roles in the field and related industries. A master's degree also helps candidates pursue new career paths.

The master's curriculum emphasizes research methods and analytical skills, and learners choose electives and concentrations to prepare for focused career paths. Applicants with a background in accounting typically meet the admission requirements.

Online enrollees gain real-world experience through internships offered in their local area. Those who attend on campus can enjoy the common amenities and facilities available at most institutions, such as the library or gym. Internships and other networking events help graduate students expand their professional network.

Governors State University at a Glance:

Type of school: Public, 4-year or above

Admission Rate: 46%

Total Online Master's Programs: 2

Program name: Master of Science in Accounting

Graduate Tuition In State: $6,354

Graduate Tuition Out of State: $12,708

Average Tuition
In-state
$7,512
Out-of-state
$15,024
Retention Rate
58%
Admission Rate
48%
Students Enrolled
4,650
Institution Type
Public
Percent Online Enrollment
57% Percentage of all students who are enrolled online.
Accreditation
Yes Higher Learning Commission

#4 Masters Degrees in Accounting in Illinois

Illinois State University

  • Normal, IL
  • 4 years
  • Online + Campus

The master's in accounting degree at Illinois State University, located in Normal, uses a flexible distance learning format. The master of science in accountancy program emphasizes specialized skills, preparing graduates for increased responsibilities and a higher earning potential. A master's degree also helps candidates pursue new career paths.

The master's curriculum incorporates theoretical and applied approaches, and learners choose electives or specializations to stand out in a competitive job market. The master's program builds on undergraduate training or professional experience in accounting.

Online enrollees complete internships in their local community to gain real-world experience. Common facilities available at most universities, like libraries and gymnasiums, are accessible to students living on campus. Graduate students expand their professional connections by attending virtual networking events.

Illinois State University at a Glance:

Type of school: Public, 4-year or above

Admission Rate: 82%

Total Online Master's Programs: 5

Program name: Master of Science in Accountancy

Graduate Tuition In State: $7,956

Graduate Tuition Out of State: $9,233

Average Tuition
In-state
$10,741
Out-of-state
$19,904
Retention Rate
84%
Admission Rate
81%
Students Enrolled
20,720
Institution Type
Public
Percent Online Enrollment
96% Percentage of all students who are enrolled online.
Accreditation
Yes Higher Learning Commission

#5 Masters Degrees in Accounting in Illinois

Northern Illinois University

  • Dekalb, IL
  • 4 years
  • Online + Campus

The master of accountancy program at Northern Illinois University, located in Dekalb, is offered through a flexible online format. The accounting program strengthens specialized skills, preparing graduates for leadership roles with a higher earning potential. A master's degree can also lead candidates to new career paths.

The master's curriculum emphasizes current research in accounting, and students can focus their training by choosing electives based on their interests and career goals. Applicants with a background in accounting typically meet the admission requirements.

Online enrollees work with the department to arrange professional internships at approved locations in their local area. Many institutions also provide libraries and fitness centers for students living on campus. Graduate students can build professional connections through virtual networking events and other activities.

Northern Illinois University at a Glance:

Type of school: Public, 4-year or above

Admission Rate: 48%

Total Online Master's Programs: Data not available

Program name: Master of Accountancy

Graduate Tuition In State: $8,922

Graduate Tuition Out of State: $8,922

Average Tuition
In-state
$9,466
Out-of-state
$9,466
Retention Rate
78%
Admission Rate
59%
Students Enrolled
16,769
Institution Type
Public
Percent Online Enrollment
15% Percentage of all students who are enrolled online.
Accreditation
Yes Higher Learning Commission

Financing a Master's Degree in Accounting

Degree-seekers can use financial aid to cover costs. Options include scholarships, grants, fellowships, and work-study programs. There are some students who qualify to receive federal and private student loans to pay for college. It is always a good idea to do research ahead of time and find out what kind of financial aid might be available.

Checklist for Maximizing Your Financial Aid:

Average Cost of Attending College in Illinois

Illinois colleges charge varying tuition rates. The public and private sectors do, however, share some commonalities. You can determine whether attending a public institution is the right choice for you by reviewing the information below:

Public 4-Year School Tuition Rates: Illinois vs. National Average

Key

Illinois
National Average

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The chart has 1 X axis displaying salary types.
The chart has 1 Y axis displaying annual salaries in USD.
Source: National Center for Education Statistics
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What about attending a private college or university? A private school will generally charge a higher tuition rate. You can learn more about private colleges in the following graph.

Private 4-Year School Tuition Rates: Illinois vs. National Average

Key

Illinois
National Average

Chart

Bar chart with 5 bars.
The chart has 1 X axis displaying salary types.
The chart has 1 Y axis displaying annual salaries in USD.
Source: National Center for Education Statistics
End of interactive chart.

Federal Student Loan Information

Would it be wise for you to take out student loans to fund your education? When considering a loan, there are a few things you should keep in mind.

Here is some data to help you understand what students typically borrow.

Undergraduate Federal Loans
Demographic Percent who borrowed Amount borrowed
Total 66.6% $27,400
Female 69.6% $28,100
Male 62.5% $26,500
White, not Hispanic or Latino 66.1% $26,700
Black, not Hispanic or Latino 85.7% $34,800
Hispanic or Latino/a, of any race 67.7% $25,700
Asian, not Hispanic or Latino 43% $22,700
Other or Two or more races, not Hispanic or Latino 70.4% $28,300
Source: NCES

Online vs. On-Campus

Pros and Cons: Online Degrees

Pros

  • Cheaper tuition
  • Flexible, asynchronous classwork
  • No on-campus fees for parking, tech, etc.

Cons

  • Less structure
  • Minimal peer-to-peer interaction
  • Less facetime with professor
  • No access to on-campus amenities

Pros and Cons: On-Campus Degrees

Pros

  • Gym, library, etc. access
  • Smaller class options
  • Face time with peers and professors

Cons

  • More expensive
  • Transportation or housing costs
  • Rigid scheduling
Among the main differences between online and on-campus programs include cost and class size. Online programs offer advantages that include flexibility, affordability, and convenience. On-campus programs tend to cost more because student fees are optional for distance learners. There are, however, advantages to attending classes.

Top Accounting Degree Options Available by State
State Degree Level
California Associate, Bachelors, Masters, Doctorate
Florida Associate, Bachelors, Masters
Georgia Associate, Bachelors, Masters, Doctorate
Illinois Associate, Bachelors, Doctorate
New York Associate, Bachelors, Masters, Doctorate
North Carolina Associate, Bachelors, Masters
Pennsylvania Associate, Bachelors, Masters, Doctorate
Texas Associate, Bachelors, Masters, Doctorate
Virginia Associate, Bachelors, Masters, Doctorate
Washington Associate, Bachelors, Masters

Private vs. Public

Public and private colleges differ in many ways. A private school is generally more expensive than a public school. There are government-funded grants and scholarships that provide students with financial aid to pay for their education at public institutions. The cost of attending a private college is often reduced by merit scholarships.

Moreover, private colleges feature smaller classes, which let students interact with their professors directly and learn about what can be accomplished in their chosen field. There are some benefits and drawbacks to attending a private institution as opposed to a public one.

Pros and Cons

Private

  • Unique program offerings
  • Cultural or religious options
  • Local prestige
  • Higher costs
  • Less regulatory oversight

Public

  • Government-issued tuition costs
  • Government funding, benefits, and regulation
  • Oftentimes large classrooms

Frequently Asked Questions

For accountants and auditors in Illinois, what is the salary?

The mean annual wage for in-state accountants and auditors is $78,430.

Are the careers associated with accounting majors in high demand?

The total number of accountants and auditors is projected to change by 6.9% from 2020 to 2030.

How do you get an online master's degree in accounting?

You can get an online master's degree in accounting. In today's educational environment, most schools offer some form of online education.

In order to complete a master's degree, how long does it typically take?

Master's programs tend to take two years for full-time students to complete. For part-time students, the completion time will vary.

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