Certified public accountants (CPAs) are some of the highest earning professionals today, which is why it comes as no surprise that a lot of individuals are interested in finding out information about CPA salaries. This article lists the factors that can affect certified accounting salaries and how much an average CPA earns.
How much are CPA salaries?
The reason why a lot of people choose to get certified is that they are able to get higher CPA salaries compared to accountants who aren't certified. On average, a CPA earns 10% higher income compared to those without certification. A CPA earns between $39,000 and $97,000 on average. The wide range is due to the several factors that can affect CPA salaries.
Factors that affect CPA salaries
There are several factors that can affect Certified Public Accountants' salaries. These include:
- Experience. The longer you work in the profession, the higher your salary will be. Entry-level certified public accountants won't earn as much income compared to those who have been working as CPAs for several years.
- Education. Those who pursue further education, such as CPAs who have Master's degrees or PhDs, will have a higher chance of earning a larger salary compared to those who only fulfill the minimum requirements to become a CPA.
- Location. The salary you get will also depend on where your location is. CPAs in New York receive the highest salary in terms of location, earning $62,700 on average. Those who live in large cities will earn more income compared to those who live in smaller areas. This is followed by those who are from Chicago, Illinois, earning $62,200. The third highest-paying area is Atlanta, Georgia, with CPAs earning $59,000 on average.
- Size of company. Larger companies tend to pay their employees more than smaller ones. Small companies pay their CPAs between $30,000 and $90,000, medium-sized companies can pay their employees between $76,000 and $111,000, and large companies can pay their CPAs between $85,000 and $130,000.
- Position. Your salary will also depend on what your position is. Those who have managerial or supervisory positions receive higher pay compared to those who don't have leadership roles in the company. Partners of firms will also receive a higher salary compared to regular employees.
Being an accountant isn't enough. If you want to get a sizeable income, make sure to get certified so that you will be able to earn CPA salaries. Aside from a good income, you will also be able to receive other benefits, including job security and benefits.
Visit CPA Salaries for more detailed information about a CPA salary.
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