We all know we need 150 hours to get the CPA license. Unless you came into college with a ton of credits, or perhaps pursued a double major in finance, you will have an extra year of school to tackle. There are options...Master of Accounting, Master of Tax, or even an MBA. These degrees definitely make you more qualified in the job market. Communicate with your professors, other students, or recruiters about which you should apply for.
If you are 100% set on public accounting, it is my belief that the Master of Science in Taxation is superior. Even if you are doing audit, professors have told me this is the way to go. You cannot work in tax without it, and the firms spike up your salary if you earn the degree. An MST gives you the most career options in accounting. There is nothing wrong with a plain Master in Accounting, but it may give you less options later on. For example, if you would like to switch to tax in a few years, this will prove much more difficult.
As for the MBA, there is a lot to consider. First, this degree generally takes two years instead of one like the MAcc and MST (and extra tuition). This may be the way to go if you do not plan on staying in public accounting forever. While you won't develop whole lot more of accounting knowledge, you will have a broader foundation in business to draw from in your career. MBA classes can teach valuable information on people/communication skills in the workplace.
Think about it, ask around, and happy choosing.
-M
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