ne Accounting Master’s Degrees with No GMAT
A master’s in accounting can lead to a higher salary and better career prospects. CPAs must earn 150 credit hours in order to obtain their license. Graduate-level coursework may lead to management positions.
Many business schools now offer master’s accounting programs online. Flexible formats appeal to working professionals and busy learners. The GMAT can be a barrier for some prospective students to graduate school.
GMAT testing requires hours of study and costs $300, and that is before you factor in the cost of exam preparation materials. It’s understandable why some applicants don’t want to take the GMAT.
There’s good news for you: a growing number of online accounting master’s programs do not require GMAT scores. Many schools offer GMAT waivers to qualified applicants.
Learn more about earning an online master’s degree in accounting without a GMAT. Continue reading.
What is the GMAT exam?
The GMAT was developed in the 1950s by business schools to assess applicants. The GMAT is administered by the Grad Management Admission Council. It requires substantial time and financial investment.
What is the GMAT? The GMAT measures problem-solving skills, analytical writing, and critical reasoning. The test-takers use their logic and reasoning skills to answer the questions. According to GMAC the test measures skills needed to succeed in business schools and management careers.
The GMAT consists of four sections.
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1
Quantitative
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2
Verbal
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3
Integrated Reasoning
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4
Analytical Writing Assessment
The test-takers will have 3.5 hours in which to complete all four sections, in any order. They can also take two optional 8-minute breaks.
Your GMAT score is a combination of your quantitative and verbal scores. The range is 200-800. The test takers will also receive separate scores ranging from 1 to 8 for integrated reasoning, and 0 to 6 for analytical essay.
Most business schools with high competition report GMAT average scores above 700.
GMAT test takers spend many weeks or even months studying. The cost of business school applications can be increased by expensive exam preparation courses. Business schools will still see your entire score, even if you retake the GMAT. Some applicants will therefore prefer programs which do not require GMAT.
Why do Business Schools waive or not require the GMAT test?
Standardized test results provide little information about the applicants. Tests like the GMAT are a barrier to many students, who do not have the time or resources to prepare.
Many schools do not use the GMAT but instead use a holistic evaluation process which takes into account academic qualifications, work experience and other factors. These alternative tests to the GMAT are even more accurate in predicting who will be successful in an accounting master’s program.
Business schools and applicants benefit from offering alternatives to the GMAT, as test scores can be distorted.
Admission Requirements instead of GMAT Scores
How can I find an online accounting master’s degree that does not require a GMAT? Check each program’s admission requirements. Some programs waive the GMAT test requirement, while others do not.
These programs do not use GMAT scores but instead consider other factors such as:
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Academic Achievements
Programs will consider your academic achievements, specialization in coursework, and high GPA as proof that you are likely to succeed at grad school. If you hold a master’s in another field, many business schools will waive the GMAT. To increase your chances of receiving an acceptance letter, highlight your academic credentials.
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Work Experience
Some business schools waive GMAT requirements for candidates with several years’ work experience. The GMAT is used to measure the skills needed for success in the workplace. You can substitute your GMAT score with a solid professional record.
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Personal Statements
Essays or personal statements are required for most master’s degree programs. In the written material, you can discuss your qualifications and strengths. Accounting programs are interested in your background and goals. Customize the personal statement, in particular, to explain why you are interested in the program and what your goals are.
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Recommendation Letters
You can demonstrate your readiness for master’s level accounting coursework by submitting letters that reflect on your academic and professional history. Letters of recommendation are used by programs to determine whether or not you will succeed. These letters can refer to skills like problem-solving or analytical abilities that the GMAT measures.
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GRE Scores
Many business schools will accept GRE scores instead of GMAT scores. You may be able use your GRE scores in lieu of the GMAT if you have taken it within the last five years. Ask accounting programs about their test requirements.
Three MS programs in Accounting online with no GMAT
University of North Carolina Chapel Hill
- Public University
- $1,446 for every credit hour
- Acceptance Rate 58%
The Kenan-Flagler Business School at UNC-Chapel Hill provides an online Master’s degree in Accounting without requiring a GMAT.
Kenan-Flagler Business School
- Credits: 36-48
- Program duration: 12 to 36 months
The online master of accounting program from UNC-Chapel Hill will help you develop advanced leadership and accounting skills. Curriculum topics include financial reporting, auditing, and managerial accounting. Data analytics for accountants is also included in the curriculum.
UNC Chapel Hill offers three concentrations – taxation, auditing or financial analysis and report. Each concentration offers specialized coursework to prepare graduates for specific career paths. Students can create their own customized concentration.
Students can apply to the program regardless of their undergraduate major. The average undergraduate GPA for current students is 3.38.
How to Apply at UNC-Chapel Hill
UNC Chapel Hill evaluates applications based on transcripts, two recommendation letters, essays and resumes. The GMAT score is optional and not required to apply for the program. Finalists are also interviewed by the program.
Rutgers University, The State University of New Jersey Camden Campus
- Public University
- $1,248 per credit
- Acceptance Rate: N/A
You can earn a MS degree in accounting online at Rutgers University without a GMAT.
Rutgers University, Camden School of Business
- Credits: 30
- Program duration: as low as 12 months
Rutgers’ online master of accountancy program offers two tracks. Students with a Bachelor’s degree in Accounting or significant coursework can take advanced courses, which include flexible options. For those without accounting experience, core accounting courses are followed by electives. Both tracks prepare students for the CPA examination.
Rutgers University offers three start dates: fall, spring and summer. Part-time enrollment is also possible. You can transfer up to six credits from previous graduate work.
Rutgers University-Camden: How to Apply
Rutgers evaluates candidates based on their transcripts and resumes, as well as two letters of recommendations, and a statement explaining why they are applying for the program. Rutgers doesn’t require GMAT or GRE score.
Syracuse University
- Private University
- $1,872 per credit
- Acceptance Rate: 88 %
The Martin J. Whitman School of Management at Syracuse University offers a online Master’s in Accounting without requiring a GMAT.
Martin J. Whitman School of Management
- Credits : 30-48 credit
- Program duration: 12-24 Months
Syracuse University offers a master of accounting degree online in as little as twelve months. Even those with no prior accounting training can earn a degree in less than two years.
The program focuses on business strategy, financial statements analysis, auditing and data analytics. Graduates of the program will have strong analytical and research abilities, as well as the ability to think strategically about the role accounting plays in business.
Syracuse provides networking and career service. Accounting students are provided with personalized career coaching and support. Students can also access a network of faculty, alumni, and students for mentoring.
How to Apply for Syracuse
Syracuse evaluates candidates based on their transcripts and resumes, as well as two essays personals and two letters. This program does not require any work experience.
Candidates can qualify for a GMAT exemption if they have at least five relevant years of work experience, or a GPA minimum of 3.0. Interviews are also part of the application process.
Question about Online Accounting Programs that do not require the GMAT
You need to take GMAT if you want to get a masters in Accounting.
You can’t apply for online masters in accounting without GMAT scores. Many schools no longer require GMAT scores or provide waivers to students who qualify. To learn more about the admission requirements, contact programs.
What are the benefits of master’s degrees that don’t require GMAT?
Many top-ranked master’s programs do not require the GMAT to be admitted. Many business schools waived GMAT requirements during the pandemic. Some well-regarded programs still offer test-optional applications.
What GPA do I need if I’m not taking the GMAT test?
Some business schools will waive the GMAT if you have a high GPA. Some programs, for example, waive the GMAT if you have a GPA above 3.0. You can strengthen your application by submitting a strong GPA, letters of recommendation or professional experience if you don’t submit GMAT scores.
Can you get a master’s degree in accounting without the GMAT?
Admission to many master’s in accounting programs does not require GMAT. These schools can be divided into different categories. Some schools do not require the GMAT. Some accept the GMAT, while others only accept the GRE. Others waive the GMAT requirement for applicants who meet GPA and work experience requirements. Some colleges do not use GMAT scores to determine admissions.
Page last reviewed Aug. 9, 2023
The post Online master’s programs in accounting with no GMAT first appeared on Accounting.com.
