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Some titles and designations we receive when we are born: son, daughter, sister, brother. But most of the distinctions we desire in life demand more effort. Usually, the greater the cost of a designation, the greater the benefits, and that is definitely the case with the CPA title. Though the process of becoming a CPA can be taxing, the benefits significantly outweigh the costs. This list highlights just a few of the benefits of becoming a CPA.
The Benefits of Becoming a CPA
Increased Salary and Benefits
The monetary rewards of the CPA certification start out great and get better over time. Many companies incentivize the pursuit of passing the CPA Exam by offering large bonuses of several thousand dollars. After securing the CPA license, you can begin earning as much as 15% more than your non-certified peers, according to the 2015 Robert Half Salary Guide, and that percentage is expected to grow even more in 2016. Eventually, the more frequent and higher-level promotions available to CPAs can expand the salary gap by as much as $50,000.
Increased Job Security
With the Baby Boomers retiring and the Sarbanes-Oxley Act enforcing higher standards for public corporate accounting, there is currently a shortage of experienced accounting professionals that is driving demand for CPAs. Therefore, the CPA certification affords accountants the chance to lock down a job for life. Businesses, nonprofits, and governments will always need accounting services, and computers won’t be able to replace experienced CPAs any time soon.
Increased Career Opportunities
Certified professional accountants have various employment prospects. Choosing Public Accounting places you in accounting firms that provide services to other businesses or governments, while Private Accounting involves working for a company directly in their accounting department. The range of job roles in either of these industries is vast, and the sizes and locations of the companies can differ greatly as well. Whether you work in the area of financial accounting and reporting, management accounting, treasury or cash management, or financial analysis for a local accounting practice or an international firm, you’ll have a lot of options as a CPA.
Increased Personal and Professional Development
The purpose of the CPA Exam is to assess your professional competence in auditing, business law and concepts, taxation, and accounting. So, passing the CPA Exam proves that you are completely capable of performing the primary tasks of a CPA in today’s accounting industry. This knowledge should rightfully fill you with pride, proficiency, and motivation to make a habit of self-improvement. The maintenance of your certification should also instigate a routine of continuing your education and constantly updating your skill set. The dedication required to pass the CPA Exam demonstrates to current and potential employers that you are committed to the profession and worthy of consideration for leadership and management positions.
Increased Trust and Respect
Becoming a CPA involves a level of concentration and work ethic that permanently sets an accountant apart from their peers. The title also empowers CPAs to develop exceptional expertise and accomplishment through years of training that impresses employers, clients, and society. CPAs are an exclusive group that earn the admiration of most everyone in the industry for their reliability and efficiency.
The Means of Becoming a CPA
These benefits of becoming a CPA clearly indicate that getting your CPA license is one of the best career decisions you can make as an accountant or accounting student. As your CPA license hinges upon the CPA Exam, one of the best CPA Exam decisions you can make is choosing to prepare with Gleim CPA Review. We have been helping candidates pass the CPA Exam for over 40 years, and we want to help you do the same by supplying you with our CPA Exam study guide. Read it to learn more about the CPA Exam and earn the benefits of becoming a CPA.