If you’re thinking about earning an accounting degree—or going back to school for a master’s—you’ve probably asked yourself, “Should I become a CPA?” It’s not just a question of adding three letters after your name. The choice can shape the kind of work you do, the industries you work in, and how far you can advance in your career. 

While both roles involve dealing with numbers, records, and financial strategy, the CPA credential comes with additional requirements, broader responsibilities, and often a higher earning potential.

CPA vs. Accountant: What’s the Difference?

An accountant prepares, analyzes, and manages financial records—everything from bookkeeping to financial statements and budgeting. You can work as an accountant with a bachelor’s degree in accounting or a related field, with no additional license required.

A Certified Public Accountant (CPA) is an accountant who meets state board education, exam, and experience requirements. Earning the license means completing 150 semester hours of college credit (more than most bachelor’s programs) and passing the Uniform CPA Examination.

Bottom line: All CPAs are accountants, but not all accountants are CPAs.

What Can a CPA Do That an Accountant Can’t?

Both CPAs and accountants can prepare tax returns, maintain records, and offer financial guidance. Certain activities, however, are reserved for CPAs, including:

  • Auditing public companies and issuing audit reports.
  • Filing reports with the Securities and Exchange Commission (SEC).
  • Representing clients before the IRS in specific matters.

To put it into perspective, if a publicly traded company needs an independent opinion on its financial statements before presenting them to shareholders, only a CPA can sign that report. Similarly, if a business faces an IRS audit, a CPA can step in and represent them throughout the process. 

This combination of legal authority and specialized skill is part of why CPAs are often tapped for leadership and advisory roles.

Education and Certification Paths

If you’re weighing a general accounting track versus the CPA route, your education plan will differ.

Accountant: Start with a bachelor’s in accounting (or finance, business, or a related field) and move into entry- to mid-level roles.

CPA: Most states expect a bachelor’s plus additional coursework—often a master’s in accounting—to meet the 150-hour requirement. You’ll also need to:

  1. Pass all four parts of the Uniform CPA Exam.
  2. Complete state-specific experience (often 1–2 years under a CPA).
  3. Maintain your license with continuing professional education (CPE).

Many returning students choose a master’s program to hit 150 hours and strengthen their candidacy. Apart from the obvious benefits of an extra advanced degree on your resume, a master's degree can make taking your exams easier.  

I’ve seen what a difference a master's degree made to friends who were preparing for their CPA exams—all that time spent studying and in lectures goes a long way to making the exam process easier. 

CPA vs. Accountant Salary Expectations

While salaries vary by location, industry, and experience, CPAs typically earn more than accountants who do not hold the credential.

General Accountant: According to the U.S. Bureau of Labor Statistics (BLS), the median annual wage for accountants and auditors was $81,680 in May 2024.

CPA: CPAs often earn 10% to 20% more than their non-certified peers, with experienced CPAs in leadership roles easily surpassing six figures—and in some cases earning double what non-CPAs make.

Earning potential also grows with specialization. CPAs working in corporate finance, forensic accounting, or consulting often command higher salaries than those in more general roles, reflecting the value of their expertise in complex financial matters.

Costs to Consider When Pursuing a CPA

Before you commit to becoming a CPA, it's worth taking the time to consider the investment. Meeting the 150-hour threshold may require extra undergraduate credits or a master’s in accounting. The costs will vary depending on the institution and program format that you choose.

You’ll also budget for exam-related costs. Application fees and the four exam sections together can cost between $1,000 and $1,500. Additionally, many candidates invest in a CPA review course, which can range from $1,000 to $3,000. After licensure, plan for license maintenance and continuing education on an ongoing basis, which could be a few hundred dollars per year. 

It's also worth starting a conversation with your employer to find out if they'd be willing to cover any of these costs. If you plan to pursue your master's degree full-time, then the loss of earnings during that time is another important element you’ll need to consider in your calculations.

While the outlay can add up, many professionals find the long-term earnings and broader opportunities outweigh the upfront cost—especially if your goal is to move into higher-paying leadership or specialized roles.

Common Career Paths for CPAs and Non-CPAs

Both CPAs and non-CPAs build strong careers, but roles often differ.

  • CPAs: Public accounting (audit/assurance, tax advisory), forensic accounting, compliance, consulting, and executive tracks such as controller, finance director, or chief financial officer (CFO).
  • Non-CPAs: Management accounting, budget analysis, payroll, internal audit, accounts receivable/accounts payable, and bookkeeping across private companies, nonprofits, and government—typically focused on internal operations.

Knowing the work you want helps you decide whether the CPA is essential or optional.

Career Outlook and Advancement Opportunities

The demand for accounting talent remains steady, driven by regulations, globalization, and increasingly complex tax rules. CPAs are in demand in industries such as public accounting, corporate finance, government, health care, and consulting. Many organizations seek CPAs specifically because the credential demonstrates a high level of expertise and commitment to ethical standards.

The CPA designation can accelerate advancement to controller, director of accounting, CFO, or partner in a public firm. Even outside public accounting, the license signals credibility and readiness for higher responsibility.

Is Becoming a CPA Worth It for You?

If you’re aiming for senior responsibility, specialized work, and a stronger pay trajectory, the CPA can be worth the additional time and cost. On average, CPAs earn more than non-CPAs, and the gap can exceed $100,000 in leadership roles. These are differences that compound over a career.

If you prefer roles that don’t require licensure—management accounting, budget analysis, or small-business bookkeeping—you can still build a rewarding path without the CPA.

Ultimately, weigh your goals, your timeline for exam prep and additional coursework, and the kind of work you want to be doing five to ten years from now.

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