Did you always dream about solving crimes? You can do so as an accountant for the FBI. According to the FBI’s website, more than 5000 accountants work in the department and help to identify financial discrepancies and fraud. Becoming an accountant requires a bachelor’s degree at the least.
But nowadays, competition in the job market is tough, and you need to have additional qualifications, like the CPA certification, to impress potential employers. Now that’s one reason right there!
CPA stands for chartered public accountant. The minimum requirement to attain your CPA license is to earn a bachelor’s degree in accounting. In this article, we will discuss why you should become a CPA. Let’s get right into it.
When it comes to accounting, the CPA certification is the ultimate standard. It is recognized throughout the industry by every organization. Accountants who have attained their CPA license get trusted with more responsibility and get viewed as experts in their field.
They also get the respect and admiration of their peers and clients. So, if you are ready to take the exam, check out CPA exam score release dates, review material, scoring criteria, and start prepping.
A CPA certification will increase your salary nine times out of ten. Senior CPAs can earn an average of over $150k per year at the Big 4 accounting firms. In comparison, CFOs with CPA qualifications at large corporations can make an average of over $500k per year. In addition, salaries differ because of a company’s size, education and qualifications, and location.
Organizations around the globe are looking for competent accountants to handle their books and provide other related services. The Bureau of Labor Statistics reports huge demand for accountants. Data suggests that job growth for accountants will grow by 7% from 2020 till 2030. That is over a projected 130,000 jobs every year and is faster than the average of all occupations. The increase in demand is because of workers switching careers or retiring.
In addition, a CPA certification can provide you an edge over someone with equal qualifications and experience when it comes to getting promoted to senior-level roles.
Attaining a CPA license will allow you to have multiple career options at your disposal. You can work for international firms or local companies, either big or small. You can work in many fields like forensic accounting, tax accounting, cost accounting, auditing, business valuation, financial analysis, IT consulting, or financial planning. Truly a plethora of career paths!
After attaining your CPA, you can work as a public accountant or even join the Big 4 accounting firms. In addition, if both these options are not appealing to you, you can go anywhere as companies in multiple industries require accountants.
And, they prefer hiring someone with a CPA certification because they are trusted more. You also have the potential to get selected for upper-management roles that pay lucrative salary packages.
CPA is a minimum of a 7-year commitment even if you do it full-time. Therefore, earning a CPA certification shows your dedication to the accounting profession. It also highlights to potential employers that you could be ready to take on upper-management roles that put more responsibility on your shoulder.
After gaining enough experience at public firms, you can advance into management roles and eventually become a partner. At private accounting firms, you have the opportunity to become a high-level officer or a board member with your experience and knowledge.
In addition, you can travel the world at your employer’s expense as accounting firms are located all around the world.
Reason #7: Higher Job satisfaction
As a CPA, you will get to work with other highly talented professionals and help make businesses more efficient. In addition, due to impressive salaries, you can also make a generous contribution to society to make it better for everyone.
You could also work for non-profit organizations and promote sensible accounting practices like sustainability accounting.
A CPA certification is the ultimate gold standard in the accounting field. People who attain their CPA license get respect from their employers, peers, clients, and the industry in general.
They also have access to multiple career paths like cost accounting, tax accounting, and forensic accounting. In addition, they get paid more than people who do not have a CPA designation and enjoy higher job security. Lastly, they can also make a difference in their community by working for non-profits and giving back to society through charitable donations.