Best Accounting Schools in Minnesota for 2025 – How to Become a CPA in MN

by Imed Bouchrika, Phd

Co-Founder and Chief Data Scientist

Share

Becoming a certified public accountant (CPA) in the United States presents higher entry barriers than other finance-related positions. This has contributed to a declining interest in the profession, which poses a significant challenge to both private and public organizations. Not to mention the fact that many accountants either quit their jobs early or retired. In fact, in the past two years alone, more than 3,000 accountants and auditors in the United States had left the profession (WSJ, 2022).

Minnesota is among the states facing difficulties in recruiting and retaining accountants. To address this shortage and help organizations with their increasing workload, Minnesota lawmakers, with the help of the Minnesota Society of Certified Public Accountants (MNCPA), are considering legislation that would reduce the number of credit hours CPA candidates are required to meet to qualify for licensure.

If you are considering a career as an accountant or a CPA in Minnesota, our team of experts at Research.com has created this guide to help you. We’ve come up with a list of the best accounting schools in Minnesota based on various metrics. We are also sharing information on the types of accounting degrees and accounting programs available, the requirements, and the steps you have to go through to earn a CPA title.

Best Accounting Schools in Minnesota Table of Contents

1. Is being an accountant a good job in Minnesota?
2. What are the steps to becoming a CPA in Minnesota?
3. CPA Program Length in Minnesota
4. Tuition and Costs of Accounting Programs in Minnesota
5. Career Outlook and Accounting Specializations in Minnesota
6. What to Look For in an Accounting Program in Minnesota
7. 2025 Best Accounting Schools in Minnesota
8. What transferable skills from other professions can enhance a Minnesota accountant’s career?
9. Could an accelerated accounting program expedite my path to CPA licensure in Minnesota?
10. Should accounting professionals pursue interdisciplinary training for advanced fraud detection?
11. How can students gain practical experience while studying accounting in Minnesota?
12. How can technology shape the future of accounting in Minnesota?
13. How can professional networking boost your CPA success in Minnesota?
14. What challenges do Minnesota accountants face and how can they overcome them?
15. How can accounting expertise facilitate a transition into urban planning?
16. Can educational expertise boost strategic innovation for Minnesota accountants?
17. Can integrating legal expertise advance my accounting career in Minnesota?
18. What are the alternatives to accounting careers in Minnesota?
19. Can integrating healthcare compliance skills benefit accountants?
20. How can specialized advanced degrees boost your accounting career in Minnesota?
21. Exploring Career Opportunities Beyond Graduation

Is being an accountant a good job in Minnesota?

Minnesota is a good place to work as an accountant or a CPA. The state ranks second among the best states to pursue an accounting career, next only to New York. The ranking is based on university rankings, job availability, and salaries.

Minnesota has an average world university ranking score (accounting and finance) of 62.80 out of 100. This means that accounting and finance schools in the state have scored well in terms of learning environment, research, citations, international outlook, and industry income or the commercial impact of their research. These schools provide high-quality education to aspiring accountants and CPAs.

As for the Minnesota accounting career outlook, accountants can look forward to good job prospects, with 37 finance and 52 accounting positions available for every 100,000 people. These represent a variety of roles available in various industries, from tech to manufacturing to healthcare. You can get a position with a company that belongs to an industry you’re interested in.

Accountant salaries are competitive in Minnesota. Accountants and auditors in the state earn an annual mean wage of $83,450 (BLS, 2023)—with a specialization, you will earn more. Financial analysts, for one, earn an annual mean wage of $100,960, while personal financial advisors earn $145,840.

Accounting is a stable career field in the state, offering good job security.

What are the steps to becoming a CPA in Minnesota?

If you want to know how to become an accountant or a CPA in Minnesota, these are the steps as outlined by the MNCPA:

1. Meet the education requirements.

There are many accounting schools in Minnesota that will give you a solid foundation in accounting practices and principles. These schools offer various accounting programs that will qualify you for an entry-level position in any industry. You can choose from certificate programs, associate degree programs, and bachelor’s degree programs to prepare you for an entry-level accountant role.

However, you need to complete at least a bachelor’s degree in accounting if you plan to become a CPA.

You should take note that the education requirements to qualify for the CPA exam and to earn your Minnesota accounting license and certification depend on the accreditation of the university or college that awarded you your accounting degree. Also, bear in mind that the specific education requirements to sit for the CPA exam are different from the requirements to apply for the CPA certificate.

Here’s how these education requirements look:

Nationally or regionally accredited college or university

Business school or college accredited by the Accreditation Council for Business Schools & Programs (ACBSP) or the Association to Advance Collegiate Schools of Business (AACSB)

An AACSB- or ACBSP-accredited accounting program or department within a school or university

2. Apply to take the Uniform CPA Exam.

You can apply to take the CPA exam before or after your graduation. Just make sure to check and review application deadlines and exam schedules.

You can submit your CPA exam application online, using the online application system of the National Association of State Boards of Accountancy (NASBA). Once your application has been approved, you will have six months to schedule and take any registered sections.

3. Pass the Uniform CPA Exam.

The CPA exam comprises four sections:

1. Auditing and Attestation
2. Business Environment and Concepts
3. Financial Accounting and Reporting
4. Regulation

The exam can be taken in a total of 16 hours. A specific time is allotted for each section—you can take the exam one section at a time, and in no particular order.

To pass the CPA exam, you need to get a grade of at least 75 in each of the subjects covered. If you pass the entire exam, you will be notified by mail.

If you do not get a passing score for a particular section, you will need to retake that exam section. Reexamination candidates need to register again.

4. Take the self-study ethics exam.

Minnesota CPA requirements include completing a self-study ethics exam. This on-demand course is called Professional Ethics: The American Institute of Certified Public Accountants’ (AICPA) Comprehensive Course (For Licensure). You can purchase this self-study exam from AICPA for $209 for AICPA members and $270 for non-members.

You don’t need to wait until you have passed all four sections of your CPA exam in order to take this ethics course and exam. You can complete it at any time during the process. You also need to complete and pass this ethics exam within two years of initially applying for your CPA certificate.

5. Meet the experience requirements.

In Minnesota, you will need a minimum of 2,000 hours of work experience that applies tax, accounting, compilation, attest, consulting, or other skills pursuant to the rules of the Board of Accountancy. You need to gain this experience in no less than one year and no more than three years.

One year of experience can be in these areas:

1. Public accounting
2. Industry
3. Education
4. Government

Paid Minnesota accounting internships and fellowships are counted if you did not apply these internships to your education requirements.

CPAs with a valid certificate in the state where you gained the experience can verify your work experience. The verifying CPA can’t be related to you.

6. Apply for a certificate to practice.

After completing all the previous steps and requirements, you can apply for a certificate to practice through the Minnesota Board of Accountancy (MNBOA). You can submit your application online.

While both MNBOA and MNCPA are Minnesota accounting associations and organizations, these two are different in that the former is the regulating body for accountants and accounting firms, whereas the latter is a recognized organization of CPA members.

7. Maintain your certificate to practice.

CPA certificates need to be renewed every year as they expire on Dec. 31. Initial Minnesota CPA certificates also expire on Dec. 31, regardless of when it was issued.

CPA Program Length in Minnesota

With accounting schools in Minnesota, a bachelor’s degree in accounting takes four years to complete. But as Minnesota is among those states that require CPAs to complete 150 semester hours of accounting coursework, many CPA hopefuls either enroll in a master’s program, which takes about two years to complete, or opt for a five-year undergraduate accounting program worth 150 credit hours.

Completing Minnesota accounting master’s programs may be a slightly longer route than going for five-year undergraduate accounting programs, but it allows students to study for a specialization, such as management accounting, environmental accounting, and forensic accounting. You can also get your master’s, such as a master’s in forensic accounting degree online.

Things may change in the near future as Minnesota lawmakers are proposing alternative pathways for CPA hopefuls to qualify for the CPA exam, especially as it pertains to the current mandate of 150 hours of education. This is because this current 150-hour requirement acts as a roadblock for college students who may otherwise consider accounting.

Tuition and Costs of Accounting Programs in Minnesota

Tuition and costs in different Minnesota accounting schools and degrees vary. But, essentially, it depends on whether you’re attending a public school or a private school, whether you’re in a community college or a big university, whether you are an in-state or out-of-state student, whether you’re studying full-time or part-time, and whether you are enrolled in a traditional on-campus or online program. Tuition also varies for undergraduate and graduate accounting programs.

To give you an idea, the estimated cost of attendance for undergraduates at the University of Minnesota Carlson School of Management, which is a public institution, for the 2023-2024 academic year is $35,632 for residents and $57,046 for non-residents.

At St. Thomas University Opus College of Business, which is a private institution, the undergraduate per credit rate is $808.50. The undergraduate banded rate for 12 to 18 credits is $25,394 per term. Taking less than 12 credits means you will be charged a per-credit rate of $1,617 and exceeding 18 credits means you will have to pay an overload tuition charge of $1,500.

And if you’re looking into getting a master’s degree to complete the 150 required hours, Saint Mary’s University of Minnesota offers one of the cheapest online master’s in accounting at $730 per credit.

If you wish to attend a particular school but find its tuition too steep, you can look into Minnesota accounting scholarships. Most of these schools also offer financial aid to deserving students.

Career Outlook and Accounting Specializations in Minnesota

Minnesota’s accounting field offers diverse career paths that cater to a variety of interests and skills within the industry. Accountants can specialize in areas like forensic accounting, management accounting, auditing, tax preparation, or financial analysis. These fields not only expand job options but also increase earning potential, as specialized accountants often command higher salaries. For instance, forensic accountants, who investigate financial discrepancies, are increasingly sought after due to rising cases of financial fraud.

Pursuing a specialization may require additional coursework or certification, but the investment can yield significant long-term benefits. For those considering advanced studies, a master’s degree in accounting can open doors to these specialized roles while fulfilling the 150-hour requirement for CPA licensure. Additionally, the costs and potential ROI of a master’s degree can be a worthwhile consideration. To learn more about the financial investment involved, visit our guide on masters in accounting cost, which provides a breakdown of expenses and benefits.

What to Look For in an Accounting Program in Minnesota

These are the things you need to look for in accounting programs or accounting schools in Minnesota:

Accreditation. Make sure the accounting school or program is accredited by a reputable accrediting body, such as the AACSB or ACBSP. This means that the school or program meets high standards of quality and academic rigor.

Curriculum. The curriculum for the accounting program should be comprehensive and cover all of the core accounting topics, such as financial accounting, managerial accounting, auditing, and taxation. The school should also offer electives in areas that interest you, such as forensic accounting or data analytics.

Resources. The school should have the resources you need to succeed, such as an extensive library, computer labs, and accounting software.

Affordability. Look for accounting schools in Minnesota with tuition rates that suit your budget. An alternative would be to look for schools that offer great financial aid and scholarship grants.

Internships. Look into the internship programs and opportunities the school offers. These internships can provide you with real-world experience in accounting.

Job placement. The school should have a good job placement record for its accounting graduates. This means that the school is well-connected with employers and can help you find a job after graduation.

2025 Best Accounting Schools in Minnesota

Minnesota has manThe team of experts at Research.com has come up with a list of the best accounting schools in the state based on feedback from various school ranking sites and on metrics like curriculum and average Minnesota accounting salary and employment statistics of fresh graduates.

1. University of Minnesota Twin Cities

University of Minnesota Twin Cities in Minneapolis is a public university. Its accounting major program under the Curtis L. Carlson School of Management is the highest-ranked accounting program in the state, with an acceptance rate of 73%.

Among accounting schools in Minnesota, the university requires undergraduate accounting students to complete 120 credits, which include top-quality coursework. They also need to meet an international experience requirement in order to graduate.

UMN Twin Cities also offers a master of accountancy program that allows students to complete the 150 credits they need to sit for the CPA exam and be granted a Minnesota CPA license. This program is flexible and can be completed on a full-time or part-time basis. It also admits students without an undergraduate accounting degree. The MAcc curriculum is designed around the technical and interpersonal skills that are essential for a leadership role in the accounting industry.

The university also offers a Master of Business Administration (MBA) and a Master of Business Taxation (MBT) degree.

1. Location: Minneapolis, MN
2. Type: Public
3. Accreditation: AACSB
4. Tuition: Resident tuition and fees: $16,654 (Estimated cost of attendance: $35,632) Non-resident tuition and fees: $36,568 (Estimated cost of attendance: $57.046)
5. Average salary for graduates: $60,200

2. University of St. Thomas

University of St. Thomas Opus College of Business is a medium-sized private, not-for-profit school that offers an undergraduate business degree with a major in accounting. It boasts an engaging and hands-on curriculum that prepares students to succeed in various settings, including public accounting firms, private corporations, government offices, and nonprofit organizations. Among accounting schools in Minnesota, it has a highly engaged faculty that are able to focus on small-sized classes to ensure that students receive sufficient guidance and advice.

St. Thomas has a large network of alumni and local business connections. This provides students with opportunities to earn real-world learning and experience, be it through internships or employment after graduation. The Career Development Center helps students who are ready for an internship find a position that supports their professional goals.

The university also offers a Master of Science in Accountancy (MSA), an 11-month program that is ideal for students who want to fulfill the educational requirements for the CPA exam and licensure.

1. Location: St. Paul, MN
2. Type: Private
3. Accreditation: AACSB
4. Tuition: Full load: $25,394 per term
5. Average salary for graduates: $58,800

3. College of Saint Benedict

College of Saint Benedict + Saint John’s University is a regionally accredited private not-for-profit college with a small student population. Accounting majors at CSB can qualify to take the CPA exam in four years of college, which is a year less than most other schools. The school estimates that this advantage, by itself, can save students over $50,000.

The accounting department offers traditional accounting and major concentrations in finance and in public accounting. You can pick the concentration that fits best your career goal. Among accounting schools in Minnesota, its public accounting concentration features many preparatory courses to help you with the CPA exam later on. Traditional accounting provides a more general and broader view of accounting. This also allows you to sit for the CPA without extra coursework. The finance concentration, meanwhile, prepares you for careers that focus on financial analysis.

When you study accounting at CSB, you get to learn beyond the classroom and grow your skills through hands-on experience. Many pursue internships during their junior year.

Around 95% of students here receive financial assistance through scholarships, loans, grants, and student employment.

1. Location: Saint Joseph, MN
2. Type: Private
3. Accreditation: Higher Learning Commission
4. Tuition and fees: $53,884 (total cost for the 2023-2024 academic year)
5. Average salary for graduates: $57,100

4. Gustavus Adolphus College

Among accounting schools in Minnesota, Gustavus Adolphus College is a church-related, residential liberal arts college that is firmly rooted in its Swedish and Lutheran heritage. This small private not-for-profit learning institution offers a bachelor of arts major in accounting. Accounting majors will learn the essential accounting skills they need to analyze and process financial data and to lead both organizations and individuals through complex economic systems.

The accounting courses include auditing, international trade and finance, investments, and accounting information systems. Accounting majors who graduate from Gustavus are prepared for a variety of jobs and various graduate programs at top-tier institutions.

1. Location: Saint Peter, MN
2. Type: Private
3. Accreditation: The Higher Learning Commission
4. Tuition and fees: $65,600 (total cost for the 2023-2024 academic year)
5. Average salary for graduates: $56,000

5. Minnesota State University Mankato

Minnesota State University (MNSU) offers a bachelor of science in accounting, a master of accounting, and a graduate certificate in taxation programs. The accounting department also offers minors in accounting and business law. Accounting program graduates consistently exceed the national average first-time pass rate on the CPA exam.

Among accounting schools in Minnesota, MNSU’s accounting major is a professional program designed to prepare students for work in public, industrial, or government settings.

To earn your BS in Accounting degree, you will need to complete 120 credit hours. Average entry-level salaries for accounting graduates range from $45,000 to $55,000.

1. Location: Mankato, MN
2. Type: Public
3. Accreditation: AACSB
4. Tuition and fees: $22,528 (annual cost of attendance)
5. Average salary for graduates: $45,000 $55,000

What transferable skills from other professions can enhance a Minnesota accountant’s career?

In Minnesota’s dynamic economic landscape, accountants benefit from developing competencies that extend beyond traditional technical skills. Enhancing abilities such as effective communication, analytical problem-solving, and adaptability can lead to improved client relations and strategic decision-making. Exposure to disciplines like healthcare or technology not only diversifies one’s professional perspective but also reinforces the capacity to navigate regulatory complexities and evolving industry standards. For instance, understanding career-specific requirements from other sectors—see how to become a nurse practitioner in Minnesota—can provide insights into the importance of continued education and interdisciplinary skill development.

Could an accelerated accounting program expedite my path to CPA licensure in Minnesota?

Accelerated accounting programs provide a condensed curriculum that enables students to complete essential coursework in a shorter timeframe. These programs are designed to intensify and integrate learning with practical application, thereby offering a fast-track route to achieving the academic requirements necessary for CPA licensure. They also offer innovative scheduling options that can help students align their studies with early career opportunities, making it possible to accumulate the required work experience more quickly. For those evaluating time-efficient paths without compromising academic rigor, exploring the fastest accounting degree online options may present a viable alternative.

Should accounting professionals pursue interdisciplinary training for advanced fraud detection?

Integrating investigative methodologies with financial expertise can provide a competitive edge in fraud prevention and risk management. Expanding your skill set through specialized courses may lead to roles that merge analytics with investigative rigor, ultimately enhancing your professional appeal in a competitive market. Consider exploring opportunities such as a forensic science degree in Minnesota to diversify and augment your career trajectory.

How can students gain practical experience while studying accounting in Minnesota?

Practical experience is essential for accounting students to apply their knowledge, build professional networks, and improve job prospects. Many accounting programs in Minnesota offer several ways to gain hands-on experience during your studies:

• Internships: Internships are one of the most effective ways to gain real-world experience. Many schools have partnerships with local firms, corporations, and government agencies, giving students access to internships in areas like auditing, tax preparation, and financial analysis. Internships can be completed during the school year or over the summer, with many leading to full-time job offers.
• Volunteer Opportunities: Some Minnesota organizations and nonprofits offer volunteer opportunities that allow accounting students to assist with tasks such as bookkeeping, budgeting, and tax preparation for community members. Volunteering can provide valuable experience, develop social responsibility, and build a professional network.
• On-Campus Jobs and Assistantships: Certain accounting programs offer positions such as teaching or research assistantships. These roles provide hands-on experience in academia and research, often focusing on accounting methods, financial modeling, or data analysis.
• Capstone Projects: Many programs include a capstone project that partners students with companies to solve real-world business and accounting challenges. These projects allow students to work in teams, apply classroom concepts, and gain insights into day-to-day accounting processes.
• Student Organizations and Competitions: Joining accounting clubs or competing in national case competitions can enhance teamwork, problem-solving, and leadership skills. Many Minnesota universities host or participate in events where students can practice presenting financial strategies and solutions to industry professionals.

How can technology shape the future of accounting in Minnesota?

Technology continues to revolutionize the accounting industry, offering professionals and students new tools to streamline processes and improve accuracy. In Minnesota, where a diverse range of industries demand advanced accounting solutions, understanding the impact of technology is vital for aspiring accountants, particularly those considering is getting a masters in accounting worth it for career advancement.

Key Technological Trends in Accounting:

• Automation and AI: Tools powered by artificial intelligence automate repetitive tasks such as data entry and tax preparation, allowing accountants to focus on strategic decision-making.
• Cloud Computing: Cloud-based accounting platforms provide secure, real-time access to financial data, facilitating collaboration between teams and clients.
• Data Analytics: Advanced analytics tools help accountants identify patterns and trends, offering insights that drive business growth.
• Blockchain Technology: This emerging technology is transforming how financial records are verified, enhancing transparency and security in transactions.
• Cybersecurity: With increasing reliance on digital tools, ensuring data protection and compliance has become a top priority for accounting professionals.

How can professional networking boost your CPA success in Minnesota?

Leveraging professional networking and industry associations can provide strategic insights into evolving regulations and career advancements. Active participation in local accountancy chapters, mentorship programs, and specialized industry events offers real-time updates on legislative shifts and technical innovations that directly influence CPA requirements in Minnesota. These engagements can reveal emerging best practices, expand your professional connections, and provide access to exclusive resources that support continuous skill development and long-term career growth.

What challenges do Minnesota accountants face and how can they overcome them?

Minnesota accountants are navigating a rapidly evolving landscape marked by regulatory updates, technological disruptions, and shifting client expectations. Expanding automation, increasing cybersecurity demands, and frequent changes in financial reporting standards require professionals to continuously update their skills and adopt innovative practices. Emphasizing targeted continuing education, professional certifications, and specialized training can help bridge knowledge gaps and secure a competitive edge. Leveraging cross-disciplinary insights—such as understanding the foundational principles in education, outlined in what degree do you need to be a teacher in Minnesota—may also foster a broader perspective when addressing complex, real-world challenges.

fv

Accounting professionals possess strong analytical, budgeting, and data interpretation skills that can be effectively transferred to urban planning roles. Leveraging expertise in financial analysis and strategic resource management can help professionals contribute to municipal budgeting, infrastructure investment, and project evaluation within urban development initiatives. For those interested in interlinking these disciplines, targeted supplementary training and tailored interdisciplinary courses may further streamline the transition. Explore how to become an urban planner in Minnesota for more detailed guidance and opportunities.

Can educational expertise boost strategic innovation for Minnesota accountants?

Accountants who expand their skill set to include educational strategies can improve internal communication, spearhead training programs, and foster a culture of continuous improvement within their organizations. By adopting teaching techniques—such as simplifying complex data for diverse audiences—professionals can enhance team performance and decision-making processes. Exploring complementary career pathways, like learning how to become a high school math teacher in Minnesota, can also offer fresh perspectives on instructional leadership and curriculum development, thereby driving strategic innovation in the accounting field.

Can integrating legal expertise advance my accounting career in Minnesota?

Accountants operating in today’s increasingly regulated environment can gain a competitive edge by incorporating legal expertise into their professional toolkit. Developing an understanding of contract law, regulatory frameworks, and litigation risks supplements traditional financial skills and supports more informed decision-making. This interdisciplinary approach not only helps in managing complex compliance issues but also prepares professionals to address corporate governance challenges effectively. For those interested in broadening their skill set, exploring pathways such as how to become a paralegal in Minnesota can provide practical insights into legal processes without overlapping established accounting practices.

What are the alternatives to accounting careers in Minnesota?

For individuals who are interested in other careers in Minnesota, there are various alternatives to consider. For example, if you are interested in education, you can explore the elementary school teacher requirements in Minnesota to learn more about the steps and qualifications needed to become an elementary school teacher in the state. This can be a fulfilling career path for those who are passionate about teaching and making a difference in the lives of young students. Alternatively, you can also consider other careers in fields such as finance, business, or law, which may have similar skill requirements and offer similar challenges and rewards as accounting.

Can integrating healthcare compliance skills benefit accountants?

Accounting professionals in Minnesota are increasingly finding value in developing cross-disciplinary expertise that includes healthcare compliance and coding. With the growth of healthcare services, many organizations require financial specialists who understand the intricacies of medical billing, regulatory standards, and data accuracy in a healthcare setting. Diversifying your skill set can help you navigate complex financial regulators while enhancing your role in multidisciplinary teams. In addition, acquiring proficiency in areas such as coding for healthcare ensures that you produce more strategic insights and operational efficiencies. Explore how to be a medical coder in Minnesota to broaden your career avenues without overlapping established accounting practices.

How can specialized advanced degrees boost your accounting career in Minnesota?

Advanced qualifications can set you apart in Minnesota's competitive accounting market by deepening technical knowledge and enhancing professional credibility. Targeted graduate programs, such as a masters in forensic accounting, provide rigorous training in investigative methodologies and regulatory compliance while delivering hands-on experience through case studies and project-based learning. These specialized courses offer a focused curriculum that aligns with industry demands and supports a transition into higher-level roles, thereby positioning graduates for leadership opportunities and career longevity.

Exploring Career Opportunities Beyond Graduation

Minnesota offers emerging and exciting career opportunities for accounting graduates, shaped by the evolving demands of businesses and advancements in technology. Beyond the traditional roles of accountants and CPAs, new pathways allow graduates to specialize and thrive in industries aligned with their unique interests.

For instance, the rise of data analytics and financial technology (FinTech) creates avenues for accountants to explore roles such as financial data analysts or automation accountants. These positions blend core accounting skills with technology, offering higher earning potential and a dynamic work environment. Additionally, accountants are increasingly recognized in sectors like environmental management, where roles in green accounting evaluate environmental costs and aid in sustainable development initiatives.

Furthermore, many accounting schools in Minnesota are strategically located near major business hubs. This proximity often leads to collaborations with companies across diverse sectors—ranging from healthcare to tech—giving graduates the flexibility to align their careers with their passions. Graduates exploring options at some of the state’s top institutions, including those highlighted among the best business schools in Minnesota, gain access to tailored mentorship programs, robust alumni networks, and standout internship placements.

Whether your goal is to work with private firms, public organizations, or startups, the career landscape remains bright. Diversifying skillsets through certifications like Certified Management Accountant (CMA) or Chartered Financial Analyst (CFA) can further sharpen your professional edge. By navigating these rich career options, accounting graduates in Minnesota can secure roles that are both fulfilling and future-forward.

Start Your CPA Journey with the Accounting Schools in Minnesota

Completing an accounting program in Minnesota presents many opportunities. You can start an entry-level career as a controller, a staff accountant, an internal auditor, a management accountant, a budget analyst, a financial analyst, or a loan officer, among others. Then you can get a master’s degree and move up to become a CPA or chief financial officer, or even get a specialization and become a forensic accountant or an information technology accountant. You can also get an online MBA accounting degree while you work. But it doesn’t end there, because you can pursue one of those academically focused Minnesota accounting PhD programs and complete a dissertation project.

Accounting remains a very broad area with many applications. If this field interests you, there’s always room for more knowledge or additional learning.

Key Insights

• High Demand and Competitive Salaries: Accountants and CPAs in Minnesota enjoy a strong job market with competitive salaries. The average annual wage for accountants and auditors in the state is $83,450, with higher earnings for specialized roles like financial analysts ($100,960) and personal financial advisors ($145,840).
• Educational Pathways and Requirements: Minnesota offers various accounting programs, from certificate programs to bachelor’s and master’s degrees. Aspiring CPAs must complete 150 semester hours of accounting coursework and pass the Uniform CPA Exam, including a self-study ethics exam and gaining relevant work experience.
• Accreditation and Quality Education: The best accounting schools in Minnesota, such as the University of Minnesota Twin Cities and the University of St. Thomas, offer accredited programs with rigorous curricula designed to prepare students for successful accounting careers. Accreditation from bodies like AACSB and ACBSP ensures high educational standards.
• Flexible Program Options: Minnesota’s accounting programs cater to diverse needs, offering full-time, part-time, online, and hybrid options. This flexibility allows students to balance their studies with work and personal commitments, making accounting education accessible to a broader range of students.
• Financial Support and Scholarships: Many accounting schools in Minnesota provide financial aid and scholarships to support students. For example, the Oklahoma Nurse Practitioner Association Scholarship and other local and national scholarships help reduce the financial burden of education.
• Potential Legislative Changes: Minnesota lawmakers, with the support of the MNCPA, are considering reducing the credit hour requirements for CPA candidates to address the shortage of accountants in the state. This potential change could make it easier for students to qualify for the CPA exam and enter the profession.

FAQ

1. What is the average salary for accountants in Minnesota?

The average annual salary for accountants and auditors in Minnesota is $83,450. Specialized roles such as financial analysts and personal financial advisors can earn higher salaries, with averages of $100,960 and $145,840, respectively.

2. What are the steps to becoming a CPA in Minnesota?

To become a CPA in Minnesota, you must meet the education requirements (150 semester hours), apply for and pass the Uniform CPA Exam, complete a self-study ethics exam, gain relevant work experience (minimum 2,000 hours), and apply for a CPA certificate through the Minnesota Board of Accountancy.

3. How long does it take to complete an accounting program in Minnesota?

A bachelor’s degree in accounting typically takes four years to complete. To meet the 150-hour requirement for CPA certification, many students pursue a master’s degree, which takes an additional two years. Alternatively, some schools offer five-year undergraduate programs that fulfill the 150-hour requirement.

4. Are online accounting programs available in Minnesota?

Yes, several accounting schools in Minnesota offer online and hybrid programs. These programs provide flexibility for students who need to balance their studies with work or other commitments.

5. What are the costs of accounting programs in Minnesota?

The cost of accounting programs varies by institution and program type. For example, the University of Minnesota Carlson School of Management estimates an annual cost of attendance at $35,632 for residents and $57,046 for non-residents. Private institutions like St. Thomas University have different tuition rates, with undergraduate per credit costs of $808.50.

6. What should I look for in an accounting program in Minnesota?

When choosing an accounting program, consider factors such as accreditation (AACSB, ACBSP), curriculum comprehensiveness, available resources (libraries, computer labs, software), affordability, internship opportunities, and job placement records.

7. What is the job outlook for accountants in Minnesota?

The job outlook for accountants in Minnesota is positive, with strong demand across various industries. The state ranks second among the best states to pursue an accounting career, offering numerous job opportunities and competitive salaries.

8. Are there financial aid options for accounting students in Minnesota?

Yes, many accounting schools in Minnesota offer financial aid and scholarships. Additionally, students can apply for external scholarships and grants to help cover tuition and other expenses.

9. What types of accounting degrees are available in Minnesota?

Minnesota offers a range of accounting degrees, including certificate programs, associate degrees, bachelor’s degrees, master’s degrees, and PhDs. Students can choose programs that align with their career goals and educational needs.

10. How do Minnesota's accounting schools rank nationally?

Minnesota’s accounting schools, such as the University of Minnesota Twin Cities and the University of St. Thomas, are highly ranked nationally for their rigorous programs, quality education, and strong job placement records. These schools provide a solid foundation for students pursuing accounting careers.

References:

1. Gurchiek, K. (2023, May 15). The CPA shortage. SHRM.
2. Ellis, L. (2023, March 6). Accountants have to go to college for five years. Some are rethinking that. The Wall Street Journal.
3. U.S. Bureau of Labor Statistics. (2023, April 25). May 2022 State Occupational Employment and Wage Estimates Minnesota. BLS.
4. Minnesota Society of Certified Public Accountants. (2023). Becoming a CPA. MNCPA.