Every country is evolving its entrepreneurs which increases the need for accountants. Without an accountant, no business can perform better. They together have shared a combined bond by becoming each other helping hand. Well, this guide is entirely based on the CPA salary So, if you want to explore your ideas about CPA and its salary package then make sure to go through this whole guide.
What is the Average Salary of CPA
In 2019, AICPA Salary Insights has come up that the CPA of the United States is provided an average salary of around $122,000. The CPA also gets other bonuses that are excluded from these figures. The initiating amount provided to the accountant goes like $40,000 – $50,000 which will be negotiated according to the location and size of the firm. But, if they add a CPA certificate to their qualification then the prize goes higher upto 15%. Well, this is about America but if you want to know CPA salary NYC (New York) then must get an idea from the internet.
Different Factors Responsible for CPA Salary
- Experience as CPA
- Location of the firm.
- Size of the firm where you have applied
- Public Accounting and Private Accounting
CPA Salary Determined Through Firm Role and Size
Well, accountants have two divisions knows as private accountants and public accountants. There is a closure difference between them through their manner of work. For instance, private accountants settle the tasks for nonprofits, government, and other organizations while public accountants do the work for CPA firms.
If we talk about the firm size then there are both smaller and bigger as per the convenience of the client. Large firms usually have international offices across the world operating different tasks. Moreover, they offer more to gather the best minds that are quite capable of handling various areas such as advisory, tax, and audit. Comparatively, smaller firms CPAs achieve this specialization over time. With more CPAs, the firm will perform better, which later on attracts customers and also brings other tasks.
In large-sized firms, you can have cafeterias, gyms, childcare which are absent in smaller ones due to insufficient budgets and amounts. In smaller firms, each accountant receives a chance to speak their heart out while planning new rules and projects which can be ignored in large-sized organizations.
These States Offers Highest CPA’s Salary
Well, the CPA salary is differed as per the state. Here is provided a table below through which you can have an idea of salary and number of jobs.
| States | Average CPS Salary | No. of Accounting Jobs |
| Connecticut | $84,890 | 14,550 |
| Virginia | $85,640 | 41,230 |
| New Jersey | $90,400 | 37,370 |
| New York | $96,300 | 110,780 |
| District of Columbia | $98,130 | 10,590 |
Although Columbia offers the best salary the scarcity of jobs provider is huge here. With a CPA average salary in NYC of $96,300, you can have a good lifestyle without fear of losing jobs. New York not only offers the best salary but also a huge number of jobs to every CPA. It is no doubt that New York is the best city for the business-minded.
Read More: Accounting Firms in NYC
Benefits of CPA Job
An individual can have lots of benefits after completing the CPA certification. Not only just monetary and salary compensation but they are provided paid time off, healthcare, benefits, and different perks. These perks work as the motivation for an accountant who wants to transform into a CPA. Below we have provided a detailed separate section for each benefit so now, let’s get into it.
Traditional Perks
In this category, the accountants are provided health insurance, retirement savings plan, paid time off, vision insurance, and dental insurance. Almost 50-70% of companies and organizations are ready to provide these essential perks to their accountants.
Other Perks
Well, mentioned above are the traditional perks but you will also receive other perks and benefits known as flexible works schedules or telecommuting, matching gifts program for employee donations, paid parental leave, discounts on electronic items, and paid time off for volunteer activities.
CPA growth after gaining specific Experience
Well, like any other occupation, CPAs are also promoted to another level that we will discuss in this section below.
Senior Level
After having 1 to three years of experience in this field, the CPAs are assigned some other tasks under this role. You may have been asked to report various tasks such as reviewing the staff work, recommending internal control improvements, and supervising audits.
Manager
You have to manage many functions like administrative responsibilities, performance evaluation, supervise multiple engagements, and maintain client relationships while achieving the Manager post.
Director
The person who is appointed as a director has to conduct training, staffing and scheduling, supervision, and client development.
Well, the promotions do not limit here. It all depends on your key skills and mindset that build your new identity among others.
Winding Up!
So, this is all about the CPA salary and career advancement. We hope that you find this article really insightful and it also resolves all of your doubts and queries. Make sure to comment below if you have still some questions to get resolved.