The American Institute of Certified Public Accountants recommends spending between 300 and 400 hours studying for the CPA exam. That is a huge time commitment, so how do you know if it’s worth it?
If you’re thinking about getting your CPA certification but aren’t quite sure yet, you’re in the right place! Keep reading to learn about the five high-value benefits of getting a CPA certification.
- Job Stability
CPAs are always in demand, no matter the economic climate. Since the financial crisis in 2008, corporate accountability is at the forefront for companies. Management relies on CPAs for the financial health and integrity of their organizations. That makes them indispensable.
Now is a better time than ever to become a CPA. As the Baby Boomer generation retires, there is a gap in the CPA market. Demand is expected to continue increasing over the next few years.
- Increased Earning Potential
When choosing a career, people often consider their earning potential. Becoming a certified public accountant almost immediately increases your earning potential. Many accounting firms offer a bonus for passing the CPA exam in the first year of employment.
Beyond the initial bonus, CPAs are likely to make 10% to 15% more than a non-CPA. The reason behind this is that once you become a CPA, your billing rate increases. Your firm can make more money from your increased billing rates, which means you make more too.
- Better Opportunities
One of the great benefits of getting your CPA is the job opportunities that come with it. There are several career paths a professional CPA can follow. They range from public accounting to the government to non-profits. Organizations in every industry need CPAs for senior finance positions, so options are endless.
With advances in technology and the ease of working remotely, there are even more opportunities for CPAs. Sites like connect freelance tax professionals with opportunities. The goal is to help CPAs and other professionals generate income at their leisure.
- Prestige
CPAs are considered the top professionals in their industry and are generally well-respected. Becoming a professional CPA requires advanced education, training, experience, and hard work. People in the accounting world understand how much time and effort it takes to get a CPA, which is why a CPA comes with respect and prestige.
- Job Satisfaction
CPAs perform a highly-specialized and mixed set of job functions. There is a diversity in specializations that CPAs can choose from. That diversity largely accounts for job satisfaction amongst CPAs. Some specializations available include:
- Auditing
- Business and management consulting
- Information technology
- International financial reporting
Ready to Get Your CPA Certification?
Now that you know these five high-value benefits of getting a CPA certification, are you ready to get down to business? By working towards getting your CPA you’ll increase your earning potential and open the door to better opportunities. You can even join the ranks of the top professionals in the industry with your CPA.
If you’re interested in reading more articles like this, check out the rest of our blog!
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