In today’s business world, Certified Public Accountants are a trusted voice in financial consulting that are sought-after commodities among various professional organizations. What sets them apart from all others with an accounting degree is that these highly qualified professionals have achieved a CPA license. The CPA certification is intended to be a symbol to the public that an accountant has mastered all of the essential elements of the profession. While there are a wide range of opportunities available in the accounting job market, it is virtually required for accountants to obtain a CPA license for a long, successful career. The following are some of the powerful professional and personal reasons why all aspiring accounting professionals are encouraged to earn as well as maintain a CPA license.
Esteem and Value in the Profession
Highly respected and admired by colleagues, employers, clients, and society at large, accountants who have earned the distinction of being a CPA are viewed as being part of the most elite group of accounting professionals. Certified Public Accountants go above and beyond that of a standard accountant with the highest level of expertise and aptitude that earns them the noble standing as a CPA. After completing countless years of academic studies, participating in long hours of work experience in the field, and passing the challenging intensive CPA examination to earn licensure, accountants stand out from the crowd for their commitment to accounting leadership. As a result, possessing a CPA license is the best way to impress prospective employers and receive a promotion to high-level management positions.
Higher Earning Potential
Although it is never encouraged that an individual choose a profession based solely on salary potential, those already interested with a passion for accounting should be aware that gaining a CPA license tremendously boosts earnings. According to the Robert Half Salary Guide from 2009, college graduates with a Master’s in Accounting who obtain a CPA license earn nearly 10 percent more than their non-licensed colleagues performing relatively similar roles. According to the Bureau of Labor Statistics, the mean annual salary for accountants is currently $71,040. However, the salary ranges for experienced CPAs in public accounting practices are considerably more ranging from $90,000 to $110,000.
Increased Job Security and Variety
As the accounting and financial market continues to experience a shortage of qualified accounting professionals with a CPA license, those who go the extra mile to receive this credential are in high demand more than ever before. As more and more professionals from the baby boomer population retire and the government enforces higher standards in public accounting, there will be continued need for CPAs and their expertise. Certified Public Accountants also have a larger amount of freedom to choose from specialized job functions that suit their interests, such as Auditing, Management Consulting, Information Technology, Taxation, or International Financial Reporting.
As the highest standard recognized by both employers and clients, the CPA license assures the public that an accountant is skilled, qualified, knowledgeable, and dedicated. Therefore, it is highly recommended that all professionals aspiring to success in public accounting consider completing the CPA examination to earn the license from the National Association of State Boards of Accountancy. With the CPA license in hand, accountants have the greatest prestige, job prospects, career security, job satisfaction, and monetary benefits.