Becoming a CPA is not an easy task. In fact, it’s one of the most challenging fields to study. Aside from earning a bachelor’s degree, there are other requirements that you must meet to become a CPA. Once you’ve completed your degree, you have to prepare for the licensure exam. And as you know, CPA examination is tough. You can’t just apply, take the test, and expect to pass. You need to well prepare for it to increase your chances of passing. (If you’re looking for a reliable and affordable CPA review material, consider using CPA excel.)
After completing the long years of academic training and passing the tough CPA exam, you will still be required to undergo training and other tests to prove your skills and character. And in order to maintain your license, you must complete continuing education coursework once every few years, depending on your state requirements.
Sure, the road to becoming a CPA is not easy. But once you get there, you’ll find that all the hard work is well worth it. Here are the reasons why:
Great benefits and compensation
Salary ranges for people with a CPA designation are far better compared to their non-licensed peers and other professionals. According to the U.S. Bureau of Labor and Statistics, the average annual wage of professional accountants was $73,670 in 2014. CPAs employed in Federal Executive Branch and Securities and Commodities Exchanges topped the compensation list with an average annual wage of more than $90,000. If you’re a CPA, you can expect to receive a salary range from $40,000 to over $100,000 a year. This is not to mention the benefits you can get from your employer, such as health coverage, retirement benefits, and other bonuses. And since the financial industry is continuously growing, these figures are likely to increase yearly.
Experienced accounting professionals will always be in demand. This is particularly true in this age when people are getting more and more concerned about their finances. And with the increasing competition in the business industry, CPAs will be more greatly needed than ever. The U.S. Bureau of Labor and Statistics projects a 13 percent increase for the employment of accountants and editors between 2012 and 2022.
Opportunity for growth
Having a CPA license is a perfect way to stand out among your competitors, since this indicates your commitment to the profession and demonstrates your extensive knowledge and skills in the accounting and business field. While you are still required to prove your worth and skills as an accountant, it becomes much easier to get the position you want if you’re holding a CPA license. If you’re a licensed, you get an opportunity to reach a higher position in a company, such as being an account manager, a board of director, or even a president or CEO!
A variety of work options
There are so many positions you can find in the accounting field. And if you’re a licensed, your options become even more plentiful. Depending on your skills or specialization, you can work as an accountant, a bookkeeper, an auditor, an accounting manager, a chief financial officer (CFO), a consultant, or even a chief executive officer (CEO). This industry also offers a vast array of working environment to choose from. You can work in a private company, government agency, film industry, corporation, or even choose to start your own business!