A career as a certified public accountant (CPA) is one of the most well-paid in the U.S. It is also a position that provides a lot of job security. Those who graduate with a bachelor’s in accounting earn an average salary of about $50,000 a year. Those who go further and earn a CPA license however, have median salaries of about $74,000. CPA’s can eventually command maximum salaries of up to $124,000. Earning a CPA license is a long and arduous endeavor. However, the benefits definitely outweigh the work required to obtain one like being recruited at career fairs. If you are an individual currently interested in earning a CPA license, use this post to help you decide. Here are the benefits to earning a CPA license.
CPA’s Are Always In Demand
Certified public accountants have a lot of job security in their office because their demand is seldom affected by the state of the economy. As long as businesses and individuals need help with their taxes, CPA’s will be needed. Businesses in particular hire CPA’s on a consistent basis to make sure their finances are in order. Budget management is crucial for the health of a company. So, barring any sudden disappearance of businesses, CPA’s will always have job opportunities. If you value the job security commanded by certified public accountants, you should have good reason to earn your CPA license.
Potential Salary Is High
CPA salaries start high and have the potential for continued growth, so you will never have to worry about frugal living ever again. An average starting salary of about $61,000 is admirable. However, your eyes should be focused on the $124,000 top salary. About 10% of the top earning CPA’s earn over $100,000 a year. These are people who have separated themselves with their experience. Therefore, you can expect to earn as much as long as you continue to grow throughout your career. Money is always a powerful deciding factor, and CPA’s earn plenty of it. Consider the importance of this when deciding to earn a CPA license.
You Have Flexibility in Work Location
The great thing about CPA’s is that they are needed all over the world. Accounting is a universal necessity among businesses. You would be hard-pressed to find an area of the country that is not in need of CPA’s. You would likely earn the highest salary working for large companies in metropolitan areas. However, you can simply choose to relocate if you so desire. You are sure to find another accounting job. You can even consider moving overseas. All you would need to do is fill yourself in on international tax and business laws. If you are the type of person that requires flexibility in work location, a CPA license would certainly grant you that flexibility.
It Comes With Personal Benefits
The skills required to work as a CPA are not only beneficial to businesses. They can help individuals as well. While earning a CPA license, you will master the different methods in which you can file taxes to save yourself money. You can use that mastery to start your own accounting firm. Your specialized knowledge will subsequently save your business money as well. Your friends and family can also benefit. Your tax and accounting skills will aid them and potentially open doors for future clients through personal recommendations. CPA licenses come with a myriad of real-world skills. By earning one, you will be preparing yourself for a high-paying career as well as a lifetime of personal finance benefits.
How To Get Your CPA License
The absolute first step you must take before you are able to sit for your CPA exam is to determine where you are going to be taking the test. Unfortunately, there is no way to sidestep the expected. By doing so, you will be able to make sure you are completing and meeting all requirements for that particular state. These requirements include education, which vary by location. To find out where you will probably be able to qualify for the CPA exam and, eventually, your CPA license, you can use the National Association of State Boards of Accountancy tool, called the Accountancy Licensing Library, or ALL. Whether you decide to use the tool or do your own research, just be sure you know where you plan to sit for the exam and the particular criteria you are required to meet.
A career as a certified public accountant is incredibly secure, unlike those horrible Xerox layoffs, and well-paid. Demand for them exists as long as businesses exist. It is also worth noting that salaries are respectable even for entry-level positions. Obtaining a CPA license also requires mastery in useful skills that can help you and your loved ones save money. If you are pondering the benefits of earning a CPA license, read through the points laid out in this post. Hopefully you will now be a few steps closer to obtaining one.
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