The Benefits of Being a CPA

At the turn of the 20th century, the world was industrializing rapidly. Financial systems were growing more complex, and companies needed professionals with specialized expertise to navigate their finances. This rising demand led to the creation and recognition of the Certified Public Accountant (CPA) designation, establishing new standards for financial excellence.¹

More than 100 years later, there’s still increasing demand for CPAs across industries. In fact, the U.S. Bureau of Labor Statistics projects a 6% increase in employment from 2023 to 2033.² Additionally, becoming a CPA can unlock higher earning potential and support career advancement.³ Read on to discover the top career benefits of pursuing a CPA certification.

CPA Salary Potential

Most professionals pursue a CPA to qualify for managerial positions and take on greater responsibilities. To that end, they earn more than the average accounting graduate. That said, salary is dependent on a number of factors, including the following:

• Experience level
• Degree level
• Specific employer
• Geographical location

Entry-Level vs. Experienced CPA Salaries

Experience level impacts a CPA’s salary. According to ZipRecruiter, the entry-level CPA salary ranges from $25,000 to $68,500 annually.⁴ Mid-level CPAs earn between $34,000 and $108,500 per year.⁵ Senior-level CPAs make between $135,000 and $234,000.⁶

CPA salaries also vary by role. Here’s a quick snapshot of starting salaries in common high-profile accounting roles.⁷

CPA vs. Non-CPA Salaries

CPAs often earn more than their non-certified counterparts. On average, CPAs command 10-15% higher salaries than non-CPAs.⁸ This pay gap exists because certification validates expertise, and employers value CPAs for their advanced knowledge and ability to navigate complex financial regulations. Additionally, getting certified opens doors to leadership roles and specialized positions.

The Impact of a Master’s Degree

An advanced degree can further enhance your earning potential as a CPA. According to PayScale, the average base salary for an accountant with a master’s degree is approximately $83,000 a year.⁹ In contrast, the average salary for a CPA with just a bachelor’s degree is $79,000.¹⁰ The curriculum for a master’s program will often include leadership training and preparation for managerial and executive roles with greater responsibility and compensation. Additionally, if you are interested in pursuing teaching, a master’s degree or higher is typically required for academic roles.

Career Growth and Professional Benefits

Beyond higher pay, CPAs are well-positioned for long-term career growth and stability. Certification provides a competitive edge in the job market, making CPAs more attractive to employers across industries.

Industry Recognition

The CPA designation is recognized worldwide as the gold standard of competence in accounting. Because CPAs are held to rigorous educational and ethical requirements, they are highly respected professionals in the financial world. Employers view CPAs as accounting experts, which provides a competitive advantage in the job market.

Diverse Career Opportunities

Getting a CPA certification unlocks diverse career opportunities in areas such as:

• Public accounting
• Corporate finance
• Forensic accounting
• Government accounting
• Entrepreneurship

With the numerous career paths available across industries, CPAs can focus on areas or types of services that align with their interests. With the stability and flexibility afforded by a CPA certification, you can transition between industries and climb the career ladder faster than non-certified accountants. This flexibility also extends to work hours and location—many CPAs enjoy the ability to set their own schedules, work remotely, or even start their own practices. Such autonomy can enhance work-life balance and career satisfaction.

Leadership and Advancement

CPAs have a deep understanding of a business's finances, which is crucial for informed decision-making at executive levels. CPAs are trained to dissect financial statements and understand the nuances of tax laws, making them detail-oriented and strong candidates for senior roles such as:

• Chief Financial Officer (CFO)
• Vice President of Finance
• Corporate Controller
• Director of Accounting or Finance
• Partner in a Public Accounting Firm

Long-Term Job Stability for CPAs

As a CPA, you can enjoy strong long-term job stability, as virtually every business requires an accountant to help maintain its financial health and well-being.

High Job Demand

In response to regulatory changes and economic shifts, businesses seek skilled professionals to help them remain compliant.¹¹ As a CPA, you can help organizations navigate regulatory changes to avoid costly legal issues and run audits to ensure financial integrity. The rise of big data also means you can help companies analyze complex financial information and provide strategic insights.

CPA vs. Other Accounting Certifications

Compared with other certifications in accounting and finance, such as a Certified Management Accountant (CMA) or Chartered Financial Analyst (CFA), a CPA certification offers broader career opportunities. Here’s a breakdown of how the three compare:

CPAs in the Age of Automation

With the rise of AI-driven accounting tools, you may question whether pursuing a CPA certification is still worth it. Automation enhances rather than replaces the role of CPAs. While an AI tool can handle repetitive tasks, such as data entry and reconciliations, businesses still rely on CPAs for complex problem-solving, in-depth auditing and strategic decision-making.

CPAs bring expertise in interpreting financial data and providing advice on tax strategies—areas where automation falls short.

Gain a Competitive Edge in Accounting

Are you ready to elevate your accounting career? The online Master of Science in Accountancy (MSA) program at DePaul University can help you develop the skills and knowledge needed to succeed as a CPA. Our rigorous curriculum, taught by expert faculty, will prepare you to take on leadership roles in accounting and help businesses solve complex financial challenges. To learn more, review our admissions process today.