Becoming a CPA is a highly respected and rewarding career path in the field of accounting. Beyond upgrading your professional title and unlocking job opportunities, earning your CPA also comes with a raise. 

Despite these benefits, taking the CPA exam requires a significant investment. Naturally, you’ll want to weigh the pros and cons, including salary potential, before deciding to commit. Learn more about the average CPA salary, how it compares to accountant salaries, and key steps to maximizing your earning potential. 

Understanding CPA Certification and Its Value

A CPA or Certified Public Accountant is an accountant who has met a high standard of specialized experience, knowledge, and professional authority. To earn a CPA designation, most states require accountants to complete 150 credit hours and pass a rigorous exam. Hopeful candidates can meet the education requirements through various pathways, including completing a bachelor’s or master’s degree in accounting.

Obtaining the CPA credential not only signals a higher level of expertise and professional credibility, but it also opens the doors to employment opportunities. As a CPA, you can perform audits, certify and file financial statements with the SEC (Securities and Exchange Commission), and represent your clients before the IRS. These are valuable, in-demand skill sets that go above and beyond the average accountant's responsibilities. In many cases, higher-paying, senior-level accounting positions require candidates to hold a CPA.

Another benefit a CPA designation brings is relevant expertise in the AI era. Earning a CPA can help future-proof your accounting career by building your knowledge and skills in areas where only humans can excel. While basic budgeting and number crunching tasks may be outsourced to AI, analysis, compliance, and decision-making will still require human input. 

CPA Salary Breakdown by Career Level

As with any career, salary growth comes with experience. Here’s a breakdown of what you can expect:

  • Entry-Level CPA Salary: $55,000–$70,000
  • Mid-Level CPA Salary: $75,000–$100,000
  • Senior or Manager CPA Salary: $100,000–$130,000
  • Executive Roles (For example, Chief Financial Officer): $105,000–$200,000+

If you already have experience as an accountant, you can likely skip entry-level positions and move into better-paying opportunities with your CPA. If you're just getting started, you can expect to move to a mid-level position after two to five years of entry-level experience. 

Regardless of your career level, CPA salaries also depend on the industry, additional experience you have, and the size of the company. Bigger companies in high-value industries like finance and technology offer higher salaries to attract top talent.

Another positive influence on CPA salaries is demand. Overall, the need for accountants and auditors is growing faster than average, with projected growth at 5% through 2034. 

Accountant Salary vs. CPA Average Salary: What’s the Difference?

Although both accountants and CPAs often work in the same department, CPAs typically earn more money than their uncertified counterparts. Once you get your CPA license, you can expect to earn about 10-15% more than an accountant without the certification, even in similar positions.

According to the BLS, the average salary for accountants and auditors is $81,680. However, earning a CPA brings a competitive edge and additional in-demand skills that enhance your salary. With a CPA, you may join the highest ten percent of earners in the occupation, who can earn over $141,420. 

When weighing your return on investment, you may be curious to learn about some of the jobs you’d be eligible for after earning your CPA. A few roles to consider include:

  • Financial Examiners. The average salary for this role is $90,400.
  • Financial Manager. On average, managers in this field earn $161,700.
  • Chief Financial Officer. Executives at this level earn an average salary of $105,350.

Factors That Influence CPA and Accounting Salaries

Various key factors influence accounting and CPA salaries. 

  • Education level: A bachelor’s vs. a master’s in accounting can impact your salary. The BLS reports that those with a master’s degree earn about $300 more per week than those with a bachelor’s degree. 
  • Experience: Years in the field pay off and can help you move into higher-paying management positions. 
  • Industry: In the field of accounting, those working in finance and insurance earn the most, while those in less complex roles like bookkeeping, payroll, and tax preparation earn the least. In financial management roles, the highest salaries are in professional, scientific, and technical services, as well as in private companies and enterprises. 
  • Location: BLS data shows that the District of Columbia, New York, and New Jersey are the states with the highest-paid accountants and auditors.

The Role of Education in Maximizing Earning Potential

Beyond traditional education routes like a bachelor's or master's degree, continuing education can play a key role in helping you achieve a higher salary. Enrolling in a CPA preparation program, taking on additional credit hours, or completing other professional certifications can give you a competitive edge. Some popular certifications include Certified Management Accountant or Certified Internal Auditor. Or, consider pursuing certifications related to specialties like forensic accounting, personal financial planning, or similar.

Education plays a crucial role in becoming a CPA, a clear path toward a higher salary. A majority of states require 150 credit hours to be eligible for CPA licensure. Most candidates achieve this with a bachelor's or master's degree in accounting. Only Virginia, Ohio, and Utah don’t have this requirement. Instead, these states require a bachelor’s in accounting, two years of professional experience, and passing the CPA exam. 

Is Earning Your CPA the Right Move for You?

Many factors influence your decision to become a CPA. Ultimately, if you’re interested in excelling in your business or accounting career, earning a CPA is a logical next step.

Discover if this is the right move for you. Get started by taking our quiz!