For those that are interested in the field of accounting, earning your CPA could be a great career choice. There are five benefits in particular that come when you become a certified public accountant.
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One of the main advantages of getting your license as a certified public accountant is that you will get paid more than your counterparts. According to recent reports, an accountant with a college degree will earn around $50,000 per year on average. This is compared to a CPA that will earn over $70,000 per year, which is 40% more than those without the license. For those that work for a top four accounting firm, the average salary can exceed $125,000 per year, plus bonuses, within ten years of passing the licensing exam.
Another one of the benefits of getting a CPA is that you will have more job opportunities. Certified public accountants are hired by a wide range of employers including accounting firms, internal accounting departments, and government agencies. While there are many accounting roles that do not require you to have the license, most employers would still choose to hire someone that has a license. While the overall unemployment rate in the United States is a little bit under five percent, those that have passed their exams and are fully licensed have an unemployment rate of under three percent.
Needed in all Cycles
Another one of the reasons to get your license is that a certified public accountant is needed during all parts of the economic cycle. During periods of prosperity and growth, a certified public accountant is needed to help with financial statement preparation, auditing, and other accounting services. During a down period, when other industries are firing employees to cut costs, certified public accountants are needed to help with compliance, determine financial projections, and help to guide financial decisions of organizations going forward.
Another reason why it can be a good idea to become a certified public accountant is that it will provide you with more industry recognition. For those that are in the accounting field, and are looking to pursue a successful career, having the license is considered the top overall designation. Those that have the license will automatically be considered one of the top accountants in their field and will also have access to a variety of organizations that only seek certified public accountants. These organizations provide further educational and networking options, which can help to further your career even more.
The fifth reason why people may like to become a certified public accountant is because it provides a lot of job satisfaction. While accounting may sound like a boring field to some with vary little job variability, there are actually a lot of different paths that a certified public accountant can take. Accountants are with the license are hired for a variety of tasks including business development, auditing, financial management, budgeting, and financial statement preparation.
In conclusion, for those that are interested in working as an accountant, becoming a certified public accountant could be a great option. There are five benefits in particular that come to those that earn their certified public accountant license.