As long as there is a government in the States, there will be taxes, but when you are planning to dedicate a large chunk of your time and money into studying something, it only makes sense to ask all the questions that you have. On that note, the following points should answer some of the questions that aspiring tax postgraduates might have about the course and its prospects.
What Will You Learn?
If you are planning to pursue a master’s degree, then the field is nothing new to you and it’s quite possible that you have already started working. Nevertheless, the graduate program will teach you how to solve even more complex tax problems than what you have dealt with before. Additional subjects, which you might have to study in more detail than before, include foreign transactions, tax planning, cost management, methods of accounting, corporate taxes, and auditing concepts.
Any job that you might be holding at the moment as a tax consultant will become inevitably more attractive and will pay better after you complete your master’s degree. In general, though, you can choose any of the following careers post-graduation.
- Tax collector
- Tax associate
- Tax examiner
- Revenue agent
- Budget analyst
- Personal financial advisor
- Financial manager
- Loan officer
Online or Offline?
It is recommended that you opt for an online master of science in taxation from the Northeastern University instead of a regular program, especially if you must continue to work at the same time. The Northeastern University online program offers an AACSB accredited program, so it’s pretty much the same as a regular course without all the extra expenses and hassles of regular commuting and attending. Going for the Northeastern Online program ensures that students are able to gain as much experience as possible by working while studying and, therefore, ending the age-old debate of whether or not one should complete graduation after an undergraduate degree or work to gain experience.
Is the Earning Potential Good?
From the point of view of a tax specialist who has completed his/her graduation and has not yet decided on a career path, the opportunities for earning high salaries are tremendous. However, the earnings will vary widely depending on what you choose to become. For example, an average auditor earns nearly $59,000 annually, while the average IRS tax collector is expected to earn little more than $47,000 every year. If you manage to become a tax manager, the average salary is roughly around the $117,000 per year mark. There are, of course, millionaire tax consultants out there as well, proving the point mentioned before; it varies widely depending on the situation and the careers chosen.
If you are not sure about what career path you should take in the field of taxes to reach your maximum potential, don’t worry because most people have a much clearer picture by the time they complete their graduation. Interacting with fellow students and important faculty members will teach you a lot more than you think and open up new avenues that you were previously not even aware of. The only requirement is that you complete your education so that when the opportunity comes calling, you have all the necessary qualifications to avail it.