Graduate school applications in accounting enjoy a banner year

A historic percentage of graduate accounting programs in the United States reported a rise in student applications last year, based on new research.

Nearly three-fourths of master’s in accounting programs enjoyed an increase in applications in 2024, according to data collected by the Graduate Management Admission Council (GMAC) for its annual Application Trends Survey.

The GMAC, an association of leading graduate business schools, found that, for the first time since 2020, more schools reported an increase in master’s in accounting applications than a decrease (72% reported growth; 26% reported a decline). In 2020, 51% reported growth and 46% reported a decline — the second-best year over the span.

In 2023, 43% of U.S. programs reported growth while 46% reported a decline.

“The resurgence in applicant interest in master of accounting programs is another encouraging sign for the accounting profession’s workforce development efforts,” Sue Coffey, CPA, CGMA, CEO–Public Accounting, Association of International Certified Professional Accountants, said in a news release. “In today’s competitive talent landscape, efforts to attract new entrants to accounting remain a top priority.”

While U.S. data in the report dates to 2020, programs globally enjoyed their best collective year dating to 2016 data, with 71% of programs reporting growth versus 27% reporting a decline. Nearly 300 business schools worldwide participated in the survey.

A recent report found a 12% increase in undergraduate enrollment in U.S. college accounting programs for the 2024 fall semester compared with the previous year. Recent research by the Center for Audit Quality, following up on similar research three years earlier, found across-the-board increases in positive perceptions of the accounting profession among high school and college students.

— To comment on this article or to suggest an idea for another article, contact Bryan Strickland at Bryan.Strickland@aicpa-cima.com.